The qualifications for getting a $5,000 personal loan are much the same as any other sum. Consider standard requirements such as a good credit score and a low debt-to-income, or DTI, ratio.

Private student loans aren’t eligible for most forgiveness programs. However, there may be other sources of private student loan help—see your options.

Paying off a loan early can reduce your debt-to-income ratio, which can benefit your credit. Your credit score is based on a number of factors, like payment history and credit utilization.