Climb Credit Student Loan Review

Climb Credit is a peer-to-peer lending company that finances education at over 60 campuses across the USA. Launched in 2014, the company identifies those schools that consistently improve their graduates’ earning potential and have a high probability of graduating students who can qualify for good jobs.

After figuring out the right schools, the company then provides fast, simple and affordable loans to students so that they can meet their career and other financial goals.

Qualifying for an Approved Loan at Climb Credit

1. To apply for loan, one needs to visit the website and fill up the online application form by providing their accurate information. Students may add the co-borrower details to receive potentially better loan rates.
2. Once you will fill up the form, you are instantly being updated with the status of your loan application whether it gets approved or not. Once the loan gets approved, the candidates are being updated with the rate of interest and other details on the same date.

Additional Note: The process of providing loan is quite fast and it does not take too long to get a reply for the application. Generally, it takes less than a business day to approve the loan.

What makes Climb Credit so appealing?

Most often students praise Climb Credit for the below-mentioned parameters which include:

• The entire process of applying for the loan is quite easy and applicant students can easily check whether their school or institute is added to the Climb Credit list or not. To do so, a user can scroll through the list of available schools and colleges and deliver the best loan refinancing option to the students.
• The loan offered by the company covers full tuition fee coverage which is an excellent feature that compels students to apply for loan. Moreover, it also assists the underprivileged students to successfully complete their studies and give wings to their dreams.
• It is also not mandatory for the students or loan applicants to pay any prepayment penalty in whatsoever case.
• The company has designed their loan plans considering the student’s requirement. By doing this they make sure that the rates provided by the company are affordable for the students.
• Adding a co-borrower can make you eligible to obtain better loan rates. The terms and rates implied by the company are reasonable to understand that also make it a preferable student loan provider company in California.
• In every situation, the new rates are discussed silently. However in case of the fixed price the company offers student loan at fixed rates from 6.00–14.00%.

Fees, Penalties, Rates and Other Terms

• The loan through Climb Credit may have an origination fee and that origination fee is dependent upon the school and application. However, generally, the fee for a climbing credit standard loan is 5%. This amount is added to the loan repayment amount for which there is no need to pay any upfront fee.
• The loan amount can range from $1000 to $50000 US Dollars.
• Climb Credit leverage candidates an opportunity to comfortably pay the loan. For this, a time period of 3 – 5 years is given so as to repay the entire loan amount.
• The rate of interest to obtain a loan is fixed and lies between 6.00 – 14.00 %.

Additional Note

• The interest loan is to determine after analyzing how risky as a bet student is. In case if the higher risk is involved, then the rate of the interest will be higher.

Eligibility for Getting the Application Approved At Climb Credit

1. The student must be the citizen of the US, however, a foreign student can also apply for the loan as a co-borrower with a US citizen.
2. The student must have an email id and, if borrowing for living expenses, a bank account number.
3. The student should have a good credit score otherwise it will be hard to sanction their loan.
4. He/She must not indulge in any criminal cases.
5. Borrower or Co-borrower must pass a credit check and meet other important guidelines to avail the loan.

Climb Credit Student Loan Drawbacks

Even though Climb Credit is a leading refinance student loan providers in California, the company does possess some limitations.

The Climb Credit company has affiliated with only 200 institutes or campuses across the state. Unfortunately, if your college does not succeed in making on the list, then you can’t apply for the loan program.

Conclusion

Considering the plethora of benevolent features afforded by the Climb Credit the company makes it the pinnacle financial institute to provide loans or financial assistance to students. The company motto is to offer adequate financial assistance to students to make them accomplish their educational dreams without any problem.

Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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