You’re almost there. Your estimated amount is carried over from the previous step — just choose the repayment plan that fits your budget and continue to a lender.
Choose Your Repayment Plan
Why the Term You Choose Matters
The repayment term you select shapes two things at once: how much you pay each month and how much interest you pay in total. Shorter terms usually carry a lower rate and cost less overall, but the monthly payment is higher because you’re repaying the same amount in less time. Longer terms lower the monthly payment by spreading it out, which can free up room in your budget, but you’ll generally pay more total interest over the life of the loan.
There isn’t a single “best” term — the right choice depends on the monthly payment you can comfortably afford and how much total interest you’re willing to pay. The rates shown above are illustrative and representative of ranges seen across lenders for borrowers with different credit profiles. Your actual rate is set by the lender you apply with, based on their review of your credit, income, and other financial details.
What You’ll Need to Apply
- A valid government-issued photo ID (driver’s license, state ID, or passport)
- Proof of income (recent pay stubs, tax returns, or bank statements)
- An active checking or savings account for funding and payments
- Your Social Security Number or ITIN for identity verification
Before You Continue
Does my amount change if I pick a different term?
No. Your amount stays fixed. Only the estimated rate, monthly payment, and total repayment change with the term you choose.
Can I choose which lender I apply with?
Yes. On the next step you’ll see lenders worth considering, and you’re free to research and pick the one that best fits your situation.
Is approval guaranteed once I apply?
No. The lender runs a full review of your credit, income, and other details. Final approval, amount, and rate are always their decision.