| Lender | User ratings | Best for… | APR range | Loan terms | Loan amounts | Minimum credit score |
|---|---|---|---|---|---|---|
 |
User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Joint applications | 8.99% to 35.99% | 24 to 60 months | $5,000 to $50,000 | 620 |
 | Small loans | 7.99% to 17.99% | 12 to 60 months | $600 to $50,000 | 700 | |
 |
User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Financial planning guidance | 8.99% to 25.81% (with discounts) | 24 to 84 months | $5,000 to $100,000 | 680 |
 | Flexible due dates | 8.49% to 35.99% | 24 to 84 months | $1,000 to $50,000 | 580 | |
 |
User Ratings & Reviews
Ratings and reviews are from real consumers who have used the lending partner’s services. | Bad or no credit | 6.40% to 35.99% | 36 and 60 months | $1,000 to $50,000 | 300 |
| 1 | 2 |
|---|---|
| APR range | 8.99% to 35.99% |
| Loan terms | 24 to 60 months |
| Loan amounts | $5,000 to $50,000 |
| Minimum credit score | 620 |
| Origination fee | 1.99% - 6.99% |
| Pros | Cons |
|---|---|
Offers APR discount for adding co-borrower May still be eligible with fair credit Same-day approval decisions | Must have at least two years of credit history Charges an origination fee High minimum loan amount Not available in all states |
However, Achieve might be best suited for juniors and seniors, since you must have at least two years of credit history to qualify. Also, if you need a small loan, there are better options — the smallest loan you can get with Achieve is $5,000.
Read our full Achieve personal loan review.
Achieve may also ask for proof of income, your Social Security number, proof of identity and your employment status.
| 1 | 2 |
|---|---|
| APR range | 7.99% to 17.99% |
| Loan terms | 12 to 60 months |
| Loan amounts | $600 to $50,000 |
| Minimum credit score | 700 |
| Origination fee | None |
| Pros | Cons |
|---|---|
Low minimum loan amount Credit union membership comes with other benefits Competitive APRs | Must join credit union to borrow Good credit required $29 late payment fee |
Since it’s a credit union, you’ll have to become a member to borrow. You can, however, prequalify before joining. PenFed membership is open to everyone, and comes with members-only discounts on auto insurance, rental cars and more.
Read our full PenFed personal loan review.
| 1 | 2 |
|---|---|
| APR range | 8.99% to 25.81% (with discounts) |
| Loan terms | 24 to 84 months |
| Loan amounts | $5,000 to $100,000 |
| Minimum credit score | 680 |
| Origination fee | 0.00% - 6.00% (not required) |
| Pros | Cons |
|---|---|
Financial planning and career coaching comes free with loan Allows co-borrowers Same-day funding possible | High minimum loan amount Must have good credit Origination fee required to unlock the lowest APRs |
SoFi could be best if you’re looking for a large loan. You can also opt to pay an origination fee to access lower APRs, so keep this in mind when comparing offers.
Read our full SoFi personal loan review.
| 1 | 2 |
|---|---|
| APR range | 8.49% to 35.99% |
| Loan terms | 24 to 84 months |
| Loan amounts | $1,000 to $50,000 |
| Minimum credit score | 580 |
| Origination fee | 1.85% - 9.99% |
| Pros | Cons |
|---|---|
Can change due date online Highly rated mobile app Open to borrowers with fair credit | Will pay an origination fee High maximum APR No live chat |
One drawback, however, is the company’s lack of live chat. You’ll also pay an origination fee when you borrow and a high APR if you have less-than-perfect credit.
Read our full Upgrade personal loan review.
| 1 | 2 |
|---|---|
| APR range | 6.40% to 35.99% |
| Loan terms | 36 and 60 months |
| Loan amounts | $1,000 to $50,000 |
| Minimum credit score | 300 |
| Origination fee | 0.00% - 12.00% |
| Pros | Cons |
|---|---|
Low minimum credit score Quick time to funding Can use funds for student debt (in some states) | No secured loan options May charge an origination fee No co-borrowers or cosigners |
Upstart may be a good choice for a bad-credit loan. When reviewing your application, it looks beyond your credit history and considers your education, employment history and more. If approved, funds could be disbursed as quickly as the next business day. And unlike most lenders, Upstart also allows some borrowers to use funds toward education-related expenses (in some states).
Read our full Upstart personal loan review.
While the application process varies by lender, here are a few common steps you’ll take when applying for a personal loan.
You should only borrow what you think you can repay. Use our personal loan calculator to estimate monthly payments and the total interest for the loan to see whether it’s within your budget.
Having a good credit score can help you qualify for competitive rates on a personal loan. However, certain lenders are more lenient for students, especially if you can add a cosigner. Check your credit score for free to see where you stand.
Not all lenders offer prequalification, so prioritize those that do to minimize hard credit pulls. This will help you get a handful of potential offers you can compare.
Scrutinize potential loan offers to find the best deal. Pay attention to estimated APR, fees and penalties, terms and your potential monthly payment.
Every lender will differ, but you’ll likely need to provide proof of income, address and a valid ID.
Once you’ve narrowed down your choices, you can apply to your top picks. Make sure to submit all applications within a 14-day window to limit the effect on your credit score. This is called “rate shopping.”
Read the fine print to ensure that the final offer will work for your needs and that you understand the repayment schedule.
Stipulations for spending your personal loan funds will vary from lender to lender. Most lenders do not allow borrowers to use funds for school-related expenses, including repaying student loan debt. Upstart is an online lender that allows you to pay student debt with a personal loan (in some states).
Most lenders want to see a reliable source of income. However, adding a creditworthy co-borrower could help you get approved if you don’t meet this requirement. Keep in mind, though, that your co-borrower’s credit score will be negatively affected along with yours if you make late payments. Never borrow money that you aren’t sure you can pay back.
If you’re in desperate need of funds, reach out to your school first. They might find you have extra aid available, such as a work-study opportunity you overlooked.
Your school may also have emergency loans for students experiencing financial hardship. Although applying for a private student loan can be an option, a personal loan can be one of the fastest ways to get funds.
