Unlike most private student lenders, the IBR No Cosigner Student Loan doesn’t require student loan borrowers to have a cosigner. Borrowers without a cosigner are 3x more likely to get approved1 for a student loan through Edly than with other private student loan providers and loan programs.
College costs continue to rise, and so do students’ financial needs. With all Edly products, repayment amounts are affordable and will continuously adjust to your post-graduation income. That way, you’ll always know what to expect. No student loan payment surprises here!
Life happens. If you lose your job, or your income drops below the minimum income threshold, you can defer your monthly payments with forbearance options.2
Within minutes, you’ll be able to check your eligibility and repayment terms, whether for undergraduate loans or graduate school loans. If approved and verified, once you accept your offer we’ll send the information to your school instantly for certification.
We’ll check to see if you meet our initial requirements, like school, major and graduation date. Our platform does not require a cosigner for the IBR No Cosigner Student Loan, which is specifically designed for undergraduate students who are within one or two years of graduating and graduate students. If that’s you — you’re already on your way to qualifying. But don’t worry, if you need to, you can easily add a cosigner as well.
Complete your loan application to be considered for your official offer. You can get pre-qualified without affecting your credit score. (If applying with a cosigner, this step may take slightly longer.)
Review your final terms, accept your offer and we’ll send your info over to your school for certification and disbursement. (If applying with a cosigner, this step may take slightly longer.)
With an IBR No Cosigner Student Loan, repayment doesn’t start until four months after graduation, and only if you’re earning more than $30,0002. With an IBR Cosigned Student Loan, you make only modest in-school payments (as low as $25/month) before graduation.
Your payments adjust with your pre-tax income. Lose your job? No problem. Borrowers may defer payments in the case of hardship2 .
Your loan is repaid once you make the required number of payments, even if you’ve paid back less than you borrowed. Or, you can pay it off early at any time. Whatever works best for you.
Of tuition funded
We encourage all students to complete the Free Application for Federal Student Aid (FAFSA) form to ensure that you take advantage of all federal student loan programs and financial aid available to you.
Our platform is designed to help students close the “funding gap” that remains so they may complete their studies. Unlike most private student lenders, such as Sallie Mae or Discover Student Loans, we offer a flexible, income-based repayment plan with many borrower protections including payment caps and deferment.
No cosigner required or hard credit pull to pre-qualify
Fast application decisioning
Fixed maximum repayment cap
Payments deferred upon loss of job or unemployment
Responsive, personalized customer support
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