Edly Student Loans Review 2026
In-School Student Ratings
3.9
Lenders are rated using a calculated overall score based on affordability, eligibility, customer service and other factors. The highest scoring lenders were identified in each category. Ratings are prepared by U.S. News staff. Ratings have not been reviewed or approved by advertisers.
- People who are nearing graduation
- People who have low income and need flexible repayment options
- People who want to borrow without a cosigner
- Be U.S. citizens or permanent residents
- Be enrolled in one of the more than 1500 schools and major in one of the more than 100 subject areas supported by Edly, and expect to graduate within the standard time frame
You can prequalify online to see if you are eligible for an Edly student loan and check your terms. If you meet the initial requirements, you can proceed with the loan application. If you apply, the lender will use a soft pull that won’t hurt your credit score to look for adverse credit history, such as defaults or collections, before approval.
The minimum loan amount is $2,000 per academic year. For no-cosigner loans, you can borrow from $2,000 to $100,000 if you’re within one year of graduation; for cosigned loans, you can borrow up to $50,000 per academic year if you’re within two years of graduation, or the total cost of the program you are attending. Both products are subject to a maximum lifetime borrowing limit of $100,000 for school costs.
Borrowers have the following repayment terms:
- 120-month term length
- Borrowers may make in-school payments (as low as $10/month for no cosigner loan; $25 per month for co-signed loan)
- Income-based payments begin upon graduation are are recalculated annually based on a percentage of the borrower’s annual salary
Edly loans may be eligible for payment deferment or forbearance if students lose their job or income is below $30,000. To qualify, students must provide documentation such as historical or current pay stubs or proof of job search. For the Edly IBR Cosigned Student Loan product, cosigners must also meet eligibility requirements for forbearance. The maximum forbearance for cosigned loan products is six months.
Edly’s discharge policies are not disclosed.
Edly offers income-based repayment student loans, which means your monthly payment will depend on your income after graduation and could fluctuate. Borrowers do not need a credit history but must be enrolled in an eligible school and major to qualify for a loan. Edly is based in New York and offers loans to borrowers in most states, with the exception of Colorado, Connecticut, Illinois, Maine, Nebraska, Vermont and West Virginia. Loans are also not available in Puerto Rico.
Edly loans are issued by TAB Bank. The Consumer Financial Protection Bureau did not report complaints about either Edly or TAB Bank in 2025.
Refinancing isn’t available.
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