Quick Summary: Qualifying for graduate student loans depends on whether you are applying for federal or private loans. Federal Direct Unsubsidized Loans have no credit check or income requirements, while private lenders evaluate your credit score, income, and debt-to-income ratio. With Grad PLUS loans being eliminated for new borrowers starting July 2026, more graduate students will need to meet private lender qualifications.
Getting into graduate school is one hurdle. Figuring out how to pay for it is another.
Whether you are pursuing a master’s degree, MBA, JD, or medical degree, understanding what lenders look for before you apply can save time and help you borrow on better terms. This guide covers qualification requirements for both federal and private graduate student loans.
How do you qualify for federal graduate student loans?
Qualifying for federal student loans is straightforward. There is no credit check, no income requirement, and no cosigner needed for Direct Unsubsidized Loans.
To qualify, you must:
- Complete the Free Application for Federal Student Aid (FAFSA)
- Be enrolled at least half-time in an eligible program
- Maintain satisfactory academic progress
- Be a U.S. citizen or eligible noncitizen (students with DACA status are not eligible)
Under the One Big Beautiful Bill Act (OBBBA), borrowing limits depend on your program type. Non-professional graduate programs (such as MBA or master’s degrees) are capped at $20,500 per year with a $100,000 lifetime limit. Professional programs (such as law and medicine) are capped at $50,000 per year with a $200,000 lifetime limit.
Grad PLUS loans require a credit check, but there is no minimum credit score. The Department of Education checks for “adverse credit history,” including defaults, bankruptcy, foreclosure, or wage garnishment within the past five years. If denied, you can qualify by using an endorser or demonstrating extenuating circumstances.
Grad PLUS loans are being eliminated for new borrowers as of July 1, 2026.
What credit score do you need for a private graduate student loan?
Most private lenders look for “good” to “excellent” credit (generally 670 or higher on the FICO scale). However, most do not publicly disclose specific minimums. The borrower or their cosigner can meet the credit threshold.
Here is what the major lenders disclose about their qualification requirements:
- Earnest: Minimum 650 FICO score, at least $35,000 in annual income, minimum three years of credit history, no bankruptcies or collections
- SoFi: Does not publish a minimum credit score; evaluates credit history, income, and employment
- Sallie Mae: Does not publish a minimum credit score; requires a creditworthy borrower or cosigner
- College Ave: Does not publish a minimum credit score; evaluates creditworthiness of borrower and cosigner
- Ascent: Does not publish a minimum credit score; offers both credit-based and non-cosigned loan options
Beyond credit scores, private lenders also evaluate your income, employment status, and debt-to-income ratio. A high DTI can disqualify you even with a strong credit score.
Some lenders, like Earnest, also consider broader financial indicators such as savings, rent payment history, and overall financial habits.
How does a cosigner help you qualify?
Many graduate students have limited credit history or income while still in school, making cosigners essential for private loan approval. A cosigner shares responsibility for the loan, and their credit and income are evaluated alongside yours.
While you may be able to qualify without a cosigner, having a creditworthy cosigner can significantly improve approval odds and may qualify you for a lower interest rate. Cosigner policies vary by lender:
- Sallie Mae: Cosigner optional; release available after 12 on-time principal and interest payments
- SoFi: Cosigner optional; release available after 12 consecutive on-time payments
- Earnest: Cosigner optional, but no cosigner release (cosigner stays on the loan until paid off or refinanced). Cosigners must have a 650+ credit score, $35,000+ annual income, and no bankruptcy
- College Ave: Cosigner optional; release available after the borrower has completed at least half of the repayment term and meets income requirements
- Ascent: Cosigner optional; also offers non-cosigned loan options for qualifying borrowers
If you are not a U.S. citizen, adding a cosigner who is a U.S. citizen or permanent resident may be your primary path to qualifying for a private student loan. The same applies to students with DACA status.
How can you improve your chances of qualifying?
If you know you will need private loans for graduate school, start preparing before you apply. Check your credit report at AnnualCreditReport.com for errors. About one in five people have a mistake on their report, and disputing errors can take several weeks.
Pay down revolving credit card balances to lower your credit utilization ratio. Avoid opening new credit accounts or taking on new hard inquiries in the months before applying.
Use prequalification tools to compare offers before committing. Most lenders offer soft-pull prequalification, which lets you see estimated rates without affecting your credit score:
- Soft-pull prequalification available: SoFi, Earnest, College Ave, Ascent
- Hard pull only (no prequalification): Sallie Mae
If you are denied by one lender, it does not mean you will be denied by all. Each lender uses different underwriting criteria, so it is worth applying with at least two or three. If you apply within a short window (typically 14 to 30 days), the credit inquiries are usually grouped as a single inquiry for scoring purposes.
Comparing multiple lenders is one of the most effective ways to find the best rate for your situation.
Bottom Line
Qualifying for federal graduate student loans is simple: complete the FAFSA, be enrolled, and meet citizenship requirements. No credit score, income, or cosigner is needed for Direct Unsubsidized Loans.
With Grad PLUS loans being eliminated for new borrowers in July 2026, more graduate students will need to qualify for private loans. Start by completing the FAFSA and maxing out your federal eligibility, then compare private lenders using prequalification tools.
If your credit or income is not strong enough on your own, a cosigner can make the difference between approval and denial, and may also lower your interest rate.
Frequently Asked Questions
Federal Direct Unsubsidized Loans have no credit score requirement. Grad PLUS loans check for adverse credit history but have no minimum score. For private loans, most lenders look for good to excellent credit but do not publish specific minimums. Earnest is the most transparent, requiring a minimum FICO score of 650. SoFi, Sallie Mae, College Ave, and Ascent do not disclose specific credit score thresholds.
Yes. Federal loans do not require a cosigner. For private loans, it is possible to qualify without one if you have a strong credit score and sufficient income, but your interest rate may be higher. Lenders like Ascent, SoFi, and Earnest offer no-cosigner options, though approval is not guaranteed and depends on your financial profile.
The FAFSA is required for all federal graduate student loans, including Direct Unsubsidized Loans and Grad PLUS loans. It is not required for private loans. However, filling out the FAFSA is still recommended because it may also qualify you for grants, work-study, and other forms of financial aid that can reduce how much you need to borrow.
Grad PLUS loans will no longer be available to new borrowers after July 1, 2026. Students who already have Grad PLUS loans may be able to continue borrowing under the old rules for up to three academic years or until they graduate, whichever comes first. New students will be limited to Direct Unsubsidized Loans and private student loans.
International students may qualify for private loans if they apply with a cosigner who is a U.S. citizen or permanent resident. Some lenders, including Earnest and SoFi, accept DACA recipients. However, international students without a U.S.-based cosigner will have very limited options, as most private lenders require a creditworthy U.S. cosigner.
Private lenders evaluate your debt-to-income ratio to determine whether you can afford loan payments alongside your existing obligations. A high DTI can result in denial or a higher interest rate, even if your credit score is strong. Paying down existing debts before applying can improve your DTI and your chances of approval.
