Frequently Asked Questions
How long does it take to apply for a Think student loan?
Applying for a Think student loan is fast and simple.
Filling out our online application takes about 15 minutes.
What information do I need to apply for a Think student loan?
Before you get started with your application, it's a good idea to review the questions
and make sure you're prepared with answers about yourself and your cosigner (if applicable).
- Personal information
- Your full name
- Social Security Number
- Date of birth
of the school you will be attending
- Contact information
- Home address (no P.O. Boxes)
- Length of time lived there
- Home telephone
- Employment information
- Employer's name
- Occupation / position
- Length of time worked there
Employer's telephone number
- Credit information
- Gross income
- Sources of additional income
- Amount of additional income
- Monthly rent/mortgage payment (include home
- Loan default/bankruptcy status
- Personal references (If applying with a co-signer, you each need your own, separate
You should also have the same information for the co-signer. Additionally, applicants
will be asked if they have ever defaulted on an education loan or declared bankruptcy.
Are there any application deadlines for a Think student loan?
No. You can apply for a Think student loan whenever you need funds.
Do I have to apply with a co-signer?
Your chances of being approved for a Think student loan improve if you apply with
a qualified co-signer. And a co-signer with excellent credit may even help you secure
a reduced interest rate and loan fees. If you would like to apply without a co-signer,
you must meet four key criteria:
- Unless you are retired, you must have a satisfactory employment history for at least
the last two years (if you are self-employed, you must have been in business for
at least the last two years),
- You must have proof of current positive income (if you are self-employed, your business
must also have a net positive income for the last 2 years),
- You must have at least 21 months of credit experience and a satisfactory credit
- You must be a U.S. citizen or permanent resident and have resided in
the U.S. for the previous two years, and
- You must have resided at your most
current and immediately preceding addresses for a total of at least one year.
How much can I borrow with a Think student loan?
You can borrow from $2,500 - $40,000 per year based on the estimated cost of attendance
at your school and loan type. Each student can borrow up to a lifetime aggregate maximum of
Is there a penalty for pre-paying a Think student loan?
No, there are no pre-payment penalties associated with Think student loans.
What are private student loans, exactly?
Here are some detailed explanations for
private student loans and
alternative student loans.