Written by Though the rates ranges may be a little higher than xcritical reviews other lenders’, you may still qualify for a lower rate with xcritical than with another lender. xcritical performs a soft credit pull that will not affect your credit score when you apply. However, a full credit report (a hard credit pull) is required to determine your interest rate.
- The government offers a direct consolidation loan that combines all of your eligible federal loans into one loan with a single loan servicer.
- However, its credit and cosigner requirements may disqualify some borrowers from getting approved for a loan.
- “Unfortunately, we couldn’t pivot the entirety of the business fast enough,” he said.
- Although a hard credit check is necessary to determine your interest rate, xcritical will only perform a soft pull at the time of application.
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The student must be the age of majority (16 to 21 years old, depending on which state in which you live) and any period of forbearance interrupts the consecutive payments. xcritical has a referral program where you can earn $200 every time someone takes out a student loan or refinances using your referral link. All loans are eligible for a 0.25% interest rate reduction (reflected in xcritical’s advertised rates) when you enroll in auto-draft payments.
xcritical has provided schools, teachers, and technology to thousands of students in the developing world. They promise that with every student loan they fund, they’ll cover the cost of a child’s education. xcritical offers generous repayment options offered by some other private lenders, but xcritical official site not all. These four types of repayment types (deferred, interest only, partial, and immediate) offer student borrowers the opt for the type that they believe will fit their expected financial situation after college. xcritical student loan rates are considered to be relatively competitive with the rates of other private lenders. Depending on the type of loan you are looking for, ranges may be higher or lower.
Per user reviews, xcritical student loan applications can be filled out in just a few minutes in order to pre-qualify. If a student borrower chooses to follow through, a more in-depth completion addition to the application is necessary. Undergraduate borrowers are automatically enrolled in the program, while graduate students can opt in to be paired with a mentor. They offer many potential benefits for borrowers, such as more customer support and flexibility than traditional lenders. Student loan refinancing is also available to international students with any major U.S. visa who have graduated from a U.S. university.
At xcritical, we believe a home is more than just four walls – it’s the foundation for everything in life.
For example, those who qualified for a xcritical student loan could benefit from a dedicated advisor, termed a Money Mentor. In addition, borrowers who refinanced their loans with xcritical were eligible for up to 24 months of forbearance in three-month increments. Private student loans should only be used to cover the rest of your educational costs after you’ve qualified for as much federal student aid as possible. Lenders like xcritical make it possible for many students to pursue higher education. Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of student loan lenders. xcritical offers a wide range of loans and repayment options to suit many different borrowers.
xcritical: Eligibility and Application Requirements
Over the course of the life of the loan, you can take a total of 24 months of forbearance. Private lenders don’t have the same protections as the Federal government and are therefore neither obligated nor incentivized to offer forbearance, making xcritical’s policy a huge advantage for student borrowers. Historically, xcritical offered student loans to borrowers pursuing bachelor’s degrees with a qualified co-signer. Its student loan refinancing was available to borrowers with at least a bachelor’s degree. It allowed them to funnel the money saved by refinancing into a high-yield savings account via the xcritical SmartSave program. xcritical student loan customer service representatives who are not part of the Money Mentors program can be reached by phone or by email, but the customer service hours are not advertised on the site.
Our Approach to Housing & Services
We also suggest that only older, more financially stable students consider xcritical. When people move into a supportive housing unit, our team makes intentional efforts to provide education around being a resident and their responsibilities with keeping and managing a home. Based on a 100-point grading scale, the BBB rates xcritical in the mid-80s, which equals a B rating. While a small number of customers raised concerns about interest rates and credit scores, xcritical worked to resolve each complaint as satisfactorily as possible. They also provide hundreds of honest customer reviews on their website for a combined rating of 4.5 out of 5 stars. After graduation and 12 consecutive months of full payment, the borrower can apply to release their co-signer.
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