Best Student Loans for Bad Credit

Earnest offers student loans and refinancing options with flexible repayment terms, a generous grace period, and several borrower protections. Both undergraduate and graduate loans are available, as well as parent loans for qualified borrowers. Earnest is backed by Navient, one of the largest private lenders in the student loan industry.

Earnest has a minimum recommended credit score of 650, and considers more than just your credit score to qualify. If you have an income of at least $35,000 and a history of on-time payments, you may be able to qualify for an Earnest private student loan or refinancing of your existing loans.

Earnest allows co-signers for undergrad and graduate loans, so if you can’t quite qualify on your own you can ask a trustworthy family member to help. It does not allow co-signers for loan refinancing, however. And though Earnest works with borrowers with less-than-stellar credit, you will be subject to a thorough financial review that may be more stringent than some other companies.

But overall, Earnest offers low rates, a variety of loan options, a generous grace period, and flexible loan terms, making it our top pick for student loans for borrowers with bad credit.

For more information, see the full Earnest Student Loans Review.

SoFi offers private student loans and refinancing for both private and federal student loans. Loans have flexible terms, competitive rates, and SoFi offers additional member benefits, such as career coaching and access to financial advisors. There are multiple rate discounts available, and SoFi even has a referral program to earn extra cash.

SoFi offers several graduate loan options, with loans available for students pursuing a master’s degree, as well as MBA, law school, and medical programs. SoFi loans can be set up on repayment terms of 5 to 15 years in length, and you can borrow up to the total cost of attendance. 

SoFi does allow co-signers on student loans, which you will likely need if you have poor credit, but they cannot be released until 24 months of on-time payments. And if you are considering a loan refinance with a co-signer, there is no release option available.

SoFi is a solid choice for graduate students, and you can enjoy the extra perks of SoFi membership if you take out a student loan with them. Just be aware of restrictions on co-signer release.

For more information, see the full SoFi Student Loans Review.

Credible is a private student loan marketplace that helps you compare the rates and loan terms of multiple lenders all in one place. You can fill out a single application, and Credible will show you the details for each lender, letting you quickly find the best deal and terms for your student loan. There are no additional fees for the service, either.

Credible also allows you to apply with a co-signer, which can help you qualify if your credit isn’t the best. And most lenders that Credible partners with offer forbearance and hardship options. Credible works with nearly a dozen top companies, but there are several reputable lenders not included, so you may still want to shop around after getting quotes from Credible.

Since Credible works with multiple lenders, qualification requirements will vary. And while you can see loan rates and terms listed side-by-side, there may be additional qualifications needed for certain loans, depending on the rate and term selected.

Credible is the leading student loan marketplace that charges no fees and helps you compare rates quickly with a simple online application.

For more information, see the full Credible Student Loans Review.

Ascent offers a variety of private student loan options for undergrad and grad students, as well as professionals. Both co-signed and non-cosigned loans are available, and Ascent even offers outcomes-based loans to junior and senior students, allowing them to qualify based on grades and future earnings potential rather than credit and finances.

Accent offers loans starting at $2,001, with maximum borrowed amounts of $200,000 for undergrad students and $400,000 for grad students. Rates start under 4%, though you typically need a co-signer to get the best rates.

Ascent offers flexible loan terms from 5 to 20 years in length, allowing you to adjust your preferred monthly payment. And loans don’t come with origination fees, either.

For more information, see the full Ascent Student Loans Review.

Splash Financial is an online student loan refinancing marketplace that allows you to compare rates with several lenders to refinance your private or federal student loans. Some allow co-signers, helping you qualify if you normally wouldn’t on your own.

Splash’s minimum recommended credit score is only 640, and loans start at $5,000. There is no specific maximum loan amount for refinancing through Splash, but it will vary depending on your credit profile and the lender selected.

Splash is not a lender itself, but will pass along your application information to its partners and show you a variety of loan options. You can choose the best loan rates and terms that fit your needs, and you will get a loan directly from that partner.

Splash Financial is a good choice if you’re looking to refinance student loans without the best credit score, and you want to compare multiple options at once. For more information, see the full Splash Financial Student Loan Refinancing Review.

Funding U is a student loan company that offers loans to undergraduate students based on grades and projected future earnings, instead of credit history. Funding U is focused on students who may not have access to a co-signer, but also have not had time to establish a strong credit profile to qualify for a loan.

While you don’t need a credit score to qualify, Funding U will review your current GPA, your chosen major and projected earnings, the earnings data from your chosen school, your total debt balances, and your credit history. Interest rates start fairly low, competitive with many top lenders.

You can borrow from $3,001 up to $20,000, so Funding U is best for smaller student loan needs (such as supplementing federal loans or grants). And repayment terms are locked in at 10 years in length. There are several repayment terms available, and multiple forbearance options in case of financial hardship.

If you are looking for a way to fund college but don’t have the best credit (or access to a co-signer), Funding U is a good option.

Prodigy Finance offers student loans to international graduate students who are looking to study abroad at a qualifying institution. With over 850 supported schools in 18 countries, Prodigy is a leader in international graduate school funding.

Loan options include both fixed and variable interest rates. Repayment terms are available from 84 months up to 240 months, and there is a six-month grace period on all loans.

Prodigy Finance loans are only available to graduate students, meaning undergraduate students and parents of students cannot apply. And funding requires that you are matched with a lender that approves your application and borrower profile. All loans also come with a 5% admin processing fee, which is added to the balance of your loan.

Prodigy is the best option for international graduate students looking to fund a master’s degree or another graduate program while studying abroad.

For more information, see the full Prodigy Student Loans Review.