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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
    • Name of the school you will be attending
  • Contact information
    • Home address (no P.O. Boxes)
    • Length of time lived there
    • Home telephone number
  • 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 equity payments)
    • Loan default/bankruptcy status
  • Personal references (If applying with a co-signer, you each need your own, separate references.)

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 history,
  • 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 $250,000.

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.

* Think Financial refers applications to Simple Tuition, a leading student loan comparison site, and is paid a fee for this referral.