Best personal loans for students in July 2024

Personal loans aren’t usually available for tuition, but you may be able to use one for other expenses.

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By Devon Delfino

Written by

Devon Delfino

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Devon Delfino is an independent writer specializing in personal finance. Her work has been featured in publications such as the L.A. Times, U.S. News and World Report, Mashable, The Startup, Business Insider, Forbes, MarketWatch, CNBC, and USA Today, among others.

Edited by Meredith Mangan

Written by

Meredith Mangan

Senior Editor

Since 2011, Meredith Mangan has helped steer content creation in the areas of mortgages and loans, insurance, credit cards, and investing for major finance verticals, including Investopedia, Credible, and The Balance. Her focus on writing and editing data-driven content has helped readers save thousands of dollars, whether it's through wisely selecting financial products or finding the best deals.

Updated June 28, 2024, 4:28 PM EDT

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Federal and private student loans should be your first choices, apart from grants and scholarships, when considering how to fund your education. But if unexpected expenses arise during the school year, you may need to find another way to pay for them. 

You can’t usually use a personal loan to pay for tuition, but you may be able to use one to pay for costs of living like food, transportation, and housing, and emergency expenses like a car repair or vet bill.

Compare personal loan rates for students in July 2024

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3.93.9

Fox Money rating

Fixed (APR)

7.80% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

620

Check Rates

on Credible’s website

View Details

4.54.5

Fox Money rating

Fixed (APR)

8.49% - 35.99%

Loan Amounts

$1000 to $50000

Min. Credit Score

600

Check Rates

on Credible’s website

View Details

44

Fox Money rating

Fixed (APR)

8.99% - 35.99%

Loan Amounts

$2000 to $50000

Min. Credit Score

600

Check Rates

on Credible’s website

View Details

44

Fox Money rating

Fixed (APR)

11.96% - 21.38%

Loan Amounts

$20000 to $200000

Min. Credit Score

660

Check Rates

on Credible’s website

View Details

3.93.9

Fox Money rating

Fixed (APR)

18.00% - 35.99%

Loan Amounts

$1500 to $20000

Min. Credit Score

540

Check Rates

on Credible’s website

View Details

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Best personal loans for students

Personal loan interest rates tend to be much higher than rates on student loans, especially if you haven’t built a credit history. Prequalify with multiple lenders to see what rates you might be eligible for, and if you're likely to get approved for a loan. Applying with a cosigner, such as a parent, might be an option to improve your approval odds and lower your rate. 

(Note that prequalification is not an offer of credit, and it won't impact your credit score. When you apply for a loan though, the lender will conduct a hard credit pull, which could ding your score temporarily.)

PenFed: Best credit union for personal loans

Best credit union for personal loans

PenFed

4.6

Fox Money rating

Check Rates

on Credible’s website

Est. APR

8.49 - 17.99%

Loan Amount

$600 to $50000

Min. Credit Score

760

Pros and cons

More details

Upgrade: Best for fair credit

Best for fair credit

Upgrade

4.5

Fox Money rating

Check Rates

on Credible’s website

Est. APR

8.49 - 35.99%

Loan Amount

$1000 to $50000

Min. Credit Score

600

Pros and cons

More details

Best Egg: Best for high close rates if pre-approved

Best for High Close Rates if Pre-approved

Best Egg

4

Fox Money rating