Edly IBR

A no-cosigner, income-based repayment loan

Student Benefits

• MUST BE a US citizen or permanent resident
• MUST BE a college junior, college senior, or grad student
• No co-signer required
• Get approved in minutes. Pre-qualify without affecting your credit score
• Income-based repayment with built-in protections, like deferred payments if you lose your job
• No in-school payments. Monthly payments only begin when you land a job grossing at least $30,000 yearly
• You’ll never pay more than the maximum repayment amount

Loan Eligibility

• MUST BE a US citizen or permanent resident
• MUST BE a college junior, college senior, or grad student
• While a credit history is not required, adverse history, like defaults or collections, may affect your eligibility

Apply for an Edly IBR, No-Cosigner, Income-Based Repayment Loan

Lender

Recommendation

Best for Private Funding

Interest Rates

Variable: 0.00% APR - 23.00% APR¹

Repayment Terms

5-12 years

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• MUST BE a US citizen or permanent resident
• MUST BE a college junior, college senior, or grad student
• No co-signer required
• Get approved in minutes. Pre-qualify without affecting your credit score
• Income-based repayment with built-in protections, like deferred payments if you lose your job

Edly Student IBR Loans are unsecured personal student loans issued by FinWise Bank, a Utah chartered commercial bank, member FDIC. All loans are subject to eligibility criteria and review of creditworthiness and history. Terms and conditions apply.

Loans from $5,000 - $15,000 per academic year ($25,000 lifetime) with repayment terms of 60 or 84 months depending upon loan product. Example: $10,000 IBR Loan (60 month repayment term) with a 7% gross income payment percentage for a senior student making $65,000 annually throughout the life of the loan. Payments deferred for the first 12 months during final year of education. After which, $270 Monthly payment for 12 months. Then $379 Monthly payment for 44 months. Followed by one final payment of $137 for a total of $20,610 paid over the life of the loan. 

About this example: The initial payment schedule is set upon receiving final terms and upon confirmation by your school of the loan amount. You may repay this loan at any time by paying an effective APR of 23%. The maximum amount you will pay is $22,500 (not including Late Fees and Returned Check Fees, if any). The maximum number of regularly scheduled payments you will make in this example is 60 (loan with a 60-month repayment term). You will not pay more than 23% APR. No payment is required if your gross earned income is below $30,000 annually or if you lose your job and cannot find employment.

Disclaimers

Edly Student IBR Loans are unsecured personal student loans issued by FinWise Bank, a Utah chartered commercial bank, member FDIC. All loans are subject to eligibility criteria and review of creditworthiness and history. Terms and conditions apply.

¹Loans from $5,000 - $15,000 per academic year ($25,000 lifetime) with repayment terms of 60 or 84 months depending upon loan product. Example: $10,000 IBR Loan (60 month repayment term) with a 7% gross income payment percentage for a senior student making $65,000 annually throughout the life of the loan. Payments deferred for the first 12 months during final year of education. After which, $270 Monthly payment for 12 months. Then $379 Monthly payment for 44 months. Followed by one final payment of $137 for a total of $20,610 paid over the life of the loan.

About this example: The initial payment schedule is set upon receiving final terms and upon confirmation by your school of the loan amount. You may repay this loan at any time by paying an effective APR of 23%. The maximum amount you will pay is $22,500 (not including Late Fees and Returned Check Fees, if any). The maximum number of regularly scheduled payments you will make in this example is 60 (loan with a 60-month repayment term). You will not pay more than 23% APR. No payment is required if your gross earned income is below $30,000 annually or if you lose your job and cannot find employment.