When you apply for a loan, lenders will review your credit to determine how risky you are as a borrower. This also applies to some types of student loans, including federal PLUS loans and private student loans.
If you’re wondering what credit score you’ll need to qualify for these credit-based loans, here’s what you should know.
What Credit Score Is Required For A Student Loan?
The exact credit score you’ll need to get approved for a student loan depends on what kind of loan you choose as well as the individual lender (for private student loans).
Federal Student Loans
Minimum required credit score: No minimum for most federal loans (must not have an adverse credit history for PLUS loans)
Most federal student loans don’t require a credit check, including direct subsidized and unsubsidized loans. To be eligible for these loans, you must:
- Be enrolled at least half time in a degree- or certificate-granting program
- Attend a school that participates in the federal financial aid program
- Have demonstrable financial need (for subsidized loans)