Student Loan Monkey is the first true student loan reverse auction. Unlike comparison sites or other sites which claim to be auctions, we obtain bids from multiple lenders based upon your individual credit.

We get your credit information from a single soft credit inquiry, one which doesn't lower your credit score. We then get you pricing from multiple lenders, without sharing any information about you with them.

You get all the benefits of comparison shopping while protecting your credit rating and privacy.

This is really important, because when you apply with multiple lenders, or use a website that shares your information with many lenders, your credit score will be lowered each time that a lender makes a credit inquiry.

Be sure to ask any comparison service whether their process can result in multiple credit inquiries, before you provide them any information.

Once we provide pricing from the various lenders who you qualify to borrow from, based upon your school and credit profile, you elect whether to proceed with a loan application with one of these lenders. You are under no obligation, and until you decide to move forward, we will not share any of your information with any lender. We will only share information with a lender who you have elected to apply with.

We are compensated by the lender who provides you with a loan. There is never a charge to consumers for using our service, and lenders will not charge you more if you obtain a loan through our process than if you had gone directly to them.

Now, if you want to get started, click on the 'start' button. Otherwise, just come back when you're ready.

Oh, and good luck with school.