Kora is one of the only loan and money management apps made specifically for college students. Students and recent graduates can take out loans from $25 to $3,000 even if they don’t have a credit history. It’s best for college students who need quick funds for things like gas, textbooks or groceries, and can make monthly repayments from a steady income source — either from parents or a part-time job.
But rates are higher than other personal loans, ranging from 15.99% to 35.99% APR and terms up to 12 months. It also isn’t available in all states. Consider these alternatives if you’re looking for more widely available or lower-cost financing.
Cleo is a budgeting app that offers a range of tools it claims can help you 'spend smarter.' Based on your spending habits, it provides monthly financial targets and pinpoints where you spend the most cash. It also offers an AI assistant to help you stay on budget.
But its cash advance feature is limited to a maximum of $250 at a time, which is relatively low, even for a cash advance app. It's also on the pricey side: Cleo charges $5.99 a month, plus $4 for each express transfer. Due to the cost, it's best for students who like its quirky AI assistant feature.
Brigit is a financial wellness app that offers advances on your next paycheck up to $250 with no credit score requirements. While this amount is less than what KoraMoney offers, Brigit doesn't charge any interest or fees on what you borrow.
But to qualify for an advance, you must subscribe to the service, which costs $8.99 to $14.99 monthly membership fee a month. There's also a fee for same-day transfers if you need the money fast. This makes it best for students and recent graduates who regularly need funds to hold them between paychecks. The monthly fee also covers a range of other services, such as budgeting tools, credit builder loans, identity theft protection and service to monitor your bank account and send auto advances to prevent overdrafts.
Available in all states
Pros
No interest or fees for advances
Credit-builder and budgeting programs included in paid subscription
Up to $1 million in identity-theft protection
Cons
$8.99 to $14.99 monthly membership fee monthly subscription fee
Advances limited to $250 each pay period
Customers mention it's hard to cancel the service
Loan amount
$50 to $250
Loan Term
Until your next payday, but can extend
Turnaround time
2 to 3 business days or instant with a Premium subscription or for a fee.
Loan amount
$50 - $250
Turnaround time
2 to 3 business days or instant with a Premium subscription or for a fee.
Albert is a financial management app that offers cash advances up to $250. What makes it different is its Genius feature. Genius is an AI-driven, human-backed service that can help you build an investment portfolio — simply by sharing a few details.
However, Albert enrolls all new users into a 30-day free trial, and many users have complained that it was difficult to cancel. If you don't, Alberts charges you $16.99 to $16 a month for the feature.
Like other cash advance apps, Albert doesn't charge interest on what you borrow, and repayment comes out of your next paycheck. And while there's no membership fee, there is a fee for instant transfers.
Available in all states
Pros
Investment help built in
Paid membership not required
No late fees or inactivity fees
Cons
Automatic enrollment in paid membership
Ongoing customer complaints
No customer service phone number
Instant transfer fees not listed
Loan amount
$25 to $250
Loan Term
Within 6 days of overdraft, with possible 7-day extension
Unlike most cash apps that have a limit on how much they'll advance, B9 offers up to 100% of your paycheck up to 15 days before you get paid. B9 has two membership plans: $9.99 for transfers up to $300 and $19.99 for transfers up to 100% of your paycheck.
While more expensive than other apps, you may find getting an entire paycheck two weeks early worth the cost as long as you regularly use it. It also may be a good option for international students, since it only requires an ITIN, not an SSN. Like other cash advance apps, you have to establish your income and direct deposit history with B9 before you can receive a full advance.
Available in all states
Pros
Access 100% of your paycheck
Advances available 15 days before your paycheck
No tips required
Cons
$9.99 or $19.99 monthly membership fee
Not all borrowers will qualify for full advance
Advances are based on your direct deposit and spending activity
Even is a payday cash advance app that offers free advances on up to 50% of the wages you've already earned through its Instapay feature. To access Instapay, your employer must be partnered with Even and you must subscribe to Even's premium service — called Even Plus — which costs No membership fee. a month.
Depending on your paycheck amount, you could potentially borrow more with Even than with other apps. Even also has built-in budgeting tools that alert you to upcoming bills and set aside funds for them. These features can help you stay on top of your finances and avoid late fees or overdrafts.
Available in all states
Pros
Lets you access up to 50% of your paycheck
Same-day money available at Walmart
Alerts you to upcoming bills
Cons
Employer must be partnered with Even
Advance limited to wages you've already earned
Requires an No membership fee. monthly Plus membership
Loan amount
Up to 50% of earned wages
Loan Term
Varies
Turnaround time
Same day if employer has configured this benefit. If not, small fee applies
Loan amount
Up to 50% of earned wages
Turnaround time
Same day if employer has configured this benefit. If not, small fee applies
MoneyLion is a mobile banking app that offers free cash advances from $50 to $500. The advance amount you qualify for depends on your direct deposit activity — and you can potentially increase this amount to $1,000 by setting up direct deposit to a linked RoarMoney account.
But it's more than a cash advance app. MoneyLion offers a range of banking products that may appeal to students, like an investment account and a financial planning service. And while MoneyLion advertises that its service is free, you'll pay extra for instant advances.
Available in: Alabama, Arizona, California, Delaware, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Maryland, Michigan, Missouri, New Mexico, North Dakota, Oklahoma, South Carolina, South Dakota, Texas, Utah, Washington, Wisconsin, Wyoming
Pros
Potentially borrow up to $1,000
No fees and no obligation to tip
Round Up investing feature can help you save
Cons
Regular funding takes 24 to 48 hours
Instant delivery costs between $1.99 and $8.99
Pattern of customer complaints
Loan amount
Up to $500 or $1,000 with RoarMoney account
Loan Term
Due by your next pay date
Turnaround time
Up to 5 days or instant for a fee of $0.49 to $8.99
Loan amount
$50 - $500
Turnaround time
Up to 5 days or instant for a fee of $0.49 to $8.99
KoraCash is unique among money apps for two reasons: One, it’s geared specifically towards currently enrolled or graduated students. And two, it offers a short-term loan with interest instead of a free cash advance that you pay off on your next payday.
But compared to most cash advance apps, you can potentially access a higher amount with KoraCash — up to $3,000 — and you’ll pay interest on what you borrow. Most cash advance apps top out at $250 or $500 — unless you use one that lets you advance your full paycheck, like B9.
But despite its higher cost, KoraCash may work better for students who don’t have a regular job to draw funds against — and genuinely need a loan they can repay over time. Plus, it’s still cheaper than a payday installment loan, which can charge APRs over 300%. Read our review of KoraCash for more details. Or, weigh the pros and cons.
Pros
Quick funding
Many positive user reviews
Available to international students
Helps build a credit history
Cons
Interest rates can hit 35.99% APR
More expensive than cash apps
Not available in all states
More alternatives to KoraCash
We didn’t include payday and installment loans as alternatives to KoraCash because they come with high rates and fees that often make it difficult to repay the loan on time.
While payday loans are designed for one-time emergency expenses, about 70% of borrowers use them for recurring costs like utilities and bills, according to the Consumer Financial Protection Bureau. Most payday loan borrowers stay in debt for at least 11 months. A typical $375 payday loan comes with $520 in fees because of repeat borrowing, a Federal Reserve study found.
Our payday loan alternatives guide explains why you should generally avoid payday loans except for emergencies. Instead of using payday loans, cash advance apps are a cheaper way to borrow money without getting into a cycle of debt.
But if you’re not keen on having a cash app monitor your bank account for deposits and otherwise keep tabs on your finances, you can consider these other options:
Credit card advances. While expensive, credit card advances are a quick and convenient way to draw money from your credit card at an ATM or bank. Expect to pay between 3% and 4% on the amount advanced or a $10 fee per advance.
Personal loans. Some lenders, like Laurel Road, offer personal loans to students, although you’ll need to have good credit and a regular source of income or be studying in a special field, like medicine. You can also qualify with a cosigner.
For more borrowing options, see our guide on loans for 18-year-olds to find and compare lenders willing to work with students.
Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time. See full bio
Kat's expertise
Kat has written 184 Finder guides across topics including:
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