We wanted to apply for a student loan as a co-signer. Hence, we decided to use Credible due to its established partners and there only being one quick application to complete to prequalify.
The Credible website makes it easy to start the process, and we clicked the co-signer button to get started. We chose that we were a new user and were greeted with a basic form to get started.
*For illustrative purposes only, actual results may vary.
This was followed by completing our date of birth, phone number, and address. We stated that we were a US citizen and entered the details of our monthly housing payment. Finally, we entered our household income details, entered our email address, and created a password to sign up for a new account.
At this point, we were asked to invite the student we were co-signing for into the process.
You can either wait for the student to complete their section via email, but as we were with the student, we proceeded with the application together. After entering the same basic details as the co-signer, we had to enter details of the university being attended and the degree being obtained, including the term that we needed the loan for.
We then selected our loan amount, and Credible searched among its lenders for the best information. This then presented the range of options that were available to us.
There were several different loan options within the range we were looking for, so we had to research these providers individually to see which suited our needs best. After this research, we selected the provider that met our repayment term needs.
At this stage, we formally applied for the loan we wanted and uploaded all of the required documentation, including proof of income, proof of ID, and bank account details. The student also completed this we were co-signer for.
While the application wasn’t the quickest process we have encountered, it was easy to complete. The website structure is very tidy and made applying straightforward. In total, the process took less than ten minutes to complete, with approval for the loan being received within a day.