914-775-8299
Two flexible loan options
POPULAR
Income-Based Repayment (IBR)
No Cosigner
Student Loan
Income-Based Repayment (IBR)
Cosigner
Student Loan
(as low as $25/month)
How Income-Based
Repayment (IBR) Works
We’re not like the others
With many traditional fixed-rate or variable-rate student loans, a student’s monthly payment does not change based on the borrower’s income. In other words, the student is expected to make the payment regardless of whether they are unemployed or have failed to secure a good-paying job.
A safety net for you
In contrast, payments with IBR loans through Edly adjust based on the borrower’s income (either self-reported annually, or assumed if not provided by the borrower) and allow borrowers to apply for loan forbearance² if they lose their job or make below $30,000 annually. Payments are recalculated annually based on an income-based percentage of the borrower’s annual salary. (Cosigned loans use assumed salary in all instances).
Get Pre-Qualified. Fast.
Get Pre-Qualified.
Fast.
Check your terms
We’ll check to see if you meet our initial requirements, like school, major, degree and graduation date. Based on your school details and academic standing, Edly will provide the loan option(s) available for you.
Apply for funding
Complete your loan application to be considered for your official offer. You can get pre-qualified without affecting your credit score. If you don’t pre-qualify on your own, you can easily apply with a cosigner.
Accept your offer
Review your final terms, accept your offer, and we’ll send your info over to your school for certification.
Key benefits
Financial literacy and wellness tools and resources are available for free on your Edly dashboard
Get access to Edly’s Student Career Counselor Team
Loan options available with or without a cosigner
Student resources
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