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Funding U Student Loan Lender Review

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Funding U is a partner lender from which we receive compensation. Edvisors® evaluates each lender we partner with and only recommend loan programs which we believe are a best fit for our audience.

What is Funding U?

Funding U (Funding University) is a student loan lender offering no-cosigner student loans for undergraduate students. Funding U does not use traditional credit scores in their lending decisions. They base their decisions on other types of criteria. Students must attend an eligible school in an eligible state in order to apply for a Funding U loan. Some non-credit factors reviewed include your academic success and GPA, major and projected earnings after graduation, have a high likelihood of graduating on time, etc. 

Funding U Merit-Based, No-Cosigner Student Loan

Funding U Customer Service

With Funding U, every borrower is assigned a loan officer to help guide you through the process and answer any questions you may have. You may also contact their loan servicer, Scratch Loan Servicing, directly via phone or online chat.

Funding U Student Loans

Funding U offers no-cosigner, fixed-rate student loans to undergraduate students attending eligible four-year, accredited, not-for-profit colleges within select states of the United States (excluding online-only schools). Funding U does not charge any fees or penalties, including the following:

  • No application fee
  • No origination fee
  • No cancellation fees
  • No pre-payment penalties

You will be required to make payments while in school--either $20 per month, or interest only payments. Standard loan repayment is a 10-year term with a six-month grace period after graduation. You may make extra payments or pay your loan off at any time with no pre-payment penalties.

Pros and Cons

Pros Cons
Having limited or no credit history is not an issue Documented credit issues that show up on your credit report may affect your ability to be approved.
No cosigner needed Student loans for undergraduate students only
$20 minimum or interest-only payments while in school up to 51 months. $15,000 loan limit per academic year
Forbearance options available for students facing hardship Does not lend for online-only schools, for-profit schools, or graduate school. Only lends in certain states and at eligible colleges or universities.

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Apply for a Funding U Student Loan

You can start your Funding U application online, and you will hear back from them in a few days. You will be asked to provide the following documentation: 

  • State issued ID
  • Most recent full transcript
  • Financial aid award letter
  • Tuition bill

You will also be connected with your dedicated loan officer.

The last step in the application process is receiving and signing your final loan documents. Your funds will then be disbursed directly to your school.

How Funding U Gives Back

Funding U’s mission is to ensure high-achieving students from low or moderate-income households are not prevented from attending college due to the low federal student loan caps and cosigner restrictions of many student loan providers. Their goal is to help their borrowers achieve their academic and professional dreams.

Funding U Headquarters

Finding U has their headquarters in Atlanta, GA.

Refinance Offers

  • Interest Rates
    • Variable rate range: 5.24% – 9.99% APR1
    • Fixed rate range: 5.24% – 9.99% APR1
  • Loan Min/Max
    • Minimum: $5,000
    • Maximum: $300K
  • Repayment Terms: 5, 10, or 15 years 2
  • Degree Requirements: Must have graduated from a public or private, not-for-profit, degree granting institution.
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