Why Does My Credit Score Matter?
When you apply to get a private loan, lenders take a look at your score to decide whether they want to provide you funds, and at what interest rate.
Students with poor credit scores, such as those who have missed payments in the past, may have an easier time getting a loan with the federal government, which doesn’t charge different rates for different credit scores.
For undergraduate students who haven’t developed a good score yet, private lenders prefer to see a co-signer – someone like a parent who is the “backup plan” if you don’t pay back your loan.
Regardless of your credit score, take a look at our deals to ensure that you’re aware of all your options.