Sparrow

If your cosigner is available, they can fill out the application at the same time as you. Otherwise, we can email them instructions.

I have received prequalified rates, but now I’d like to add a cosigner to see if I can qualify for better terms. What should I do?

Sparrow Support

Information about how to compare your offers, choose a prequalified rate, and complete the lender's application.

Choosing a Prequalified Rate

How long do I have to decide on my loan offer?

If any of our partner lenders have loan options for you, you will see a notification on your Sparrow Dashboard after a few minutes.

When and how do I find out about the rates that I’m prequalified for?

After submitting the Sparrow application, you will be able to view your prequalified rates on your Sparrow Dashboard.

Where can I find my prequalified rates?

Your rates may update at any point during the prequalification process.

How long are my prequalified rates good for?

If you do not receive any prequalified rates, you’ll see a message about your other available options on your Dashboard.

I didn’t receive any prequaified rates. What are my options?

No, you are not obligated to choose one of the options presented to you on your Sparrow Dashboard.

Do I have to choose an option if I receive prequalified rates from lenders?

General Questions

The next step is to review and compare your prequalified offers through your Sparrow Dashboard.

I applied for a loan and got an offer. What is the next step?

To compare the loan offers you received, start by clicking the Star button next to the loan offer that matches your financial needs.

I got offers. How do I compare them in my Sparrow Dashboard?

Fixed rate loans remain the same throughout the lifetime of the loan. Variable rates change throughout the life of the loan.

What is the difference between fixed and variable interest rates?

All interest rates on Sparrow are annual and expressed as APRs (Annual Percentage Rate).

How do I check if an interest rate on a loan is annual or monthly?

The lenders we partner with offer loans with several repayment plans for while you are enrolled in school.

My Sparrow Dashboard shows me options with different repayment plans. What do the different repayment plans mean?

The APRs (Annual Percentage Rate) on student loans vary depending on a number of factors.

What are the interest rates on the student loans?

Click "Get approved with [lender]." From there, you'll be brought directly to the lender's site to complete their application.

What happens after I explore my loan offer(s)?

Once you decide on a specific loan offer, click on the offer to learn more about it.

How do I choose one of the prequalified rates I receive from a lender?

If none of Sparrow’s lending partners support your school, you may need to consider other loan options.

What if the lender does not support my school?

If the offers you received do not work for you, we recommend adding a cosigner.

The lenders I received offers from don’t work for me. What should I do?

No, Sparrow will only present your prequalified rates once we have received offers from all of our lending partners.

I only received a few offers. Are there more prequalification offers coming?

To ask an individual lender more questions, contact them directly through their customer service or support line.

I received a loan offer on Sparrow. How do I ask lenders more questions?

Comparing Offers

The documents you need to submit will vary depending on where you are in the application process.

What documents do I need to provide to complete the lender’s application process?

We recommend trying to contact them via another method. If you are still unable to reach them, please contact us.

The lender I selected is not responding to me. What should I do?

Receiving the funds for your private student loan depends on whether you’re borrowing an in-school loan or refinancing an existing loan.

Can the funds be disbursed directly to me?

Will the loan money be sent to me or my school?

After submitting the Sparrow application, you should receive offers within 30 seconds after submission.

Choosing a Prequalified Rate

I have received prequalified rates, but now I’d like to add a cosigner to see if I can qualify for better terms. What should I do?

General Questions

Comparing Offers

Completing the Lender's Application