SAN FRANCISCO, July 24, 2019 /PRNewswire-PRWeb/ -- Students heading to college this fall will have more opportunities to compare rates and save when taking out a private student loan, with the addition of two new lenders to the Credible online loan marketplace.
With Ascent and MEFA on board, Credible's student loan marketplace now provides access to eight lenders, including traditional banks, online lenders, and state student loan authorities.
"Competition among lenders benefits students and their families," said Credible's Robert Humann, General Manager of Student and Personal Loans. "Our expanded lineup of trusted lenders makes our student loan marketplace an even more powerful tool for families who value the savings they can achieve by comparing rates before taking out student loans."
According to an analysis of rate requests processed by Credible in June, comparing rates on private student loans can help families taking out a 10-year fixed-rate loan save $3,922 on average.
Unlike rate comparison sites that only display marketed rates or rate ranges, Credible's integrations with lenders and credit bureaus let consumers compare the actual rates they're prequalified for. Students and their parents can request rates from Credible's partner lenders in less than three minutes by filling out a single form that doesn't affect their credit score.
In addition to student loans and student loan refinancing, Credible provides prequalified rates from lenders who offer personal loans, home purchase mortgages, and mortgage refinancing.
The addition of Ascent and MEFA helps Credible serve an even broader set of borrowers. Notably:
- Ascent created a new private student loan model that gives students more opportunities to qualify for a loan, with or without a cosigner. Ascent also offers benefits that set students and families up for financial success including 1% cash back upon graduation and free financial wellness tools.
- MEFA is a mission-driven, self-funded public entity that provides new student loans and refinances existing student loans for individuals and families across the country. MEFA also provides a full range of tools and services designed to help families with every step in the college planning process.
About Credible
Credible is a multi-lender marketplace that empowers consumers to discover financial products that are the best fit for their unique circumstances. Our integrations with leading lenders and credit bureaus allow consumers to quickly compare accurate, personalized loan options ― without putting their personal information at risk or affecting their credit score. The Credible marketplace provides an unrivaled customer experience, as reflected by over 2,000 positive Trustpilot reviews and a TrustScore of 9.5/10. Credible (CRD.ASX) is headquartered in San Francisco, California and is listed on the Australian Securities Exchange (ASX).
SOURCE Credible
Share this article