Student Loans Ranked List V1

Top Private Student Loan Rates 2024

Advertiser Disclosure Our website is a free resource that provides helpful content and comparison tools to our visitors. We earn advertising compensation from companies appearing on the site, which affects the placement and ranking of brands (and their products) and the scores assigned to them. Listing a company does not imply endorsement. Not all providers are featured. Our Terms of Use set out the limits of liability, and all other representations and warranties regarding the information on this page are void. The information, including pricing, on this site, is subject to change without notice. STUDENT LOANS

Compare terms and rates of student loan lenders to find the right loan for you.

Worried about how you’re going to pay for college? Federal loans are the go-to option for most students, but may not always cover everything you need. Private loans are offered by banks, credit unions, and other lenders, and could be the perfect fit if you’re looking for more financial assistance. Check out our top picks below.

EXPLORE PRIVATE STUDENT LOAN LENDERS

#1 pick GET YOUR RATE

• Loan Amount: $1,000 – 100% of school-certified cost of attendance
• Fixed APR: 4.17% – 16.69% with autopay
• Variable APR: 5.59% – 16.85% with autopay
• Loan Term: 5 – 20 years
• Credit Score: mid 600s+

• Loan Amount: $1,000 – 100% of school-certified cost of attendance
• Fixed APR: 4.17% – 16.69% with autopay
• Variable APR: 5.59% – 16.85% with autopay
• Loan Term: 5 – 20 years
• Credit Score: mid 600s+

GET YOUR RATE

Eligibility Requirements:

• Undergraduates must be U.S citizens or permanent residents enrolled at an accredited institution
• International students must have a U.S. social security number and a qualified cosigner
• All students must meet the satisfactory academic progress guidelines as defined by their school

2 GET YOUR RATE

• Loan Amount: $2,001 – $400,000
• Fixed APR: 4.29% – 15.96% with autopay
• Variable APR: 6.23% – 16.09% with autopay
• Loan Term: 5 – 20 years
• Credit Score: Variable

• Loan Amount: $2,001 – $400,000
• Fixed APR: 4.29% – 15.96% with autopay
• Variable APR: 6.23% – 16.09% with autopay
• Loan Term: 5 – 20 years
• Credit Score: Variable

GET YOUR RATE

Eligibility Requirements:

• Must be enrolled full-time or halftime
• Must be a U.S. citizen, U.S. permanent resident, or have DACA status (valid SSN may be required)
• For cosigned credit-based loans, the cosigner must be a U.S. citizen or U.S. permanent resident
• For credit-based loans, the applicant or cosigner must meet the minimum credit score requirement
• International students cannot be U.S. citizens, permanent residents or have DACA status; must have eligible resident status and have a creditworthy cosigner who lives in the U.S. and is a U.S. citizen or permanent resident
• Cosigners for international students must meet the $24,000 minimum gross income requirement for the current and previous year and be able to submit satisfactory proof-of-income
• For non-cosigned credit-based loans, the student must have at least 2 years of credit history and meet credit and minimum income requirements
• For non-cosigned outcome-based loans, the student must be a full-time junior or senior with a 2.9+ GPA and no cosigner; must maintain a 2.9+ GPA and meet the school’s satisfactory academic performance

3 GET YOUR RATE

• Loan Amount: $1,000 – 100% of school-certified expenses
• Fixed APR: 3.49% – 15.49% with autopay
• Variable APR: 4.54% – 14.71% with autopay
• Loan Term: 10 – 15 years
• Credit Score: mid 600s+

• Loan Amount: $1,000 – 100% of school-certified expenses
• Fixed APR: 3.49% – 15.49% with autopay
• Variable APR: 4.54% – 14.71% with autopay
• Loan Term: 10 – 15 years
• Credit Score: mid 600s+

GET YOUR RATE

Eligibility Requirements:

• If applying with a cosigner, the cosigner needs to have good to excellent credit
• Must be enrolled in a qualifying degree-granting institution
• Must be a student attending school full-time, half-time, or less than half-time, or taking prerequisite classes, summer classes or continuing education classes at a participating school
• Students who still need funds after maximizing savings, grants, scholarships, and federal student loans

4 GET YOUR RATE

• Loan Amount: $3,001 – $20,000 per year
• Fixed APR: 8.49% – 13.99% with autopay
• Variable APR: not offered
• Loan Term: 10 years
• Credit Score: no minimum

• Loan Amount: $3,001 – $20,000 per year
• Fixed APR: 8.49% – 13.99% with autopay
• Variable APR: not offered
• Loan Term: 10 years
• Credit Score: no minimum

GET YOUR RATE

Eligibility Requirements:

• Must be 18 years old
• Must be a U.S. citizen or permanent resident
• Must be enrolled as a full-time undergraduate student
• Must be pursuing a bachelor’s degree at a Title-IV eligible four-year institution
• Must live in one of the following states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin

5 GET YOUR RATE

• Loan Amount: $1,000 – $138,500 per year
• Fixed APR: 4.29% – 16.49%² with autopay¹
• Variable APR: 5.62% – 16.85%² with autopay¹
• Loan Term: 5 – 15 years
• Credit Score: 650+ FICO score

• Loan Amount: $1,000 – $138,500 per year
• Fixed APR: 4.29% – 16.49%² with autopay¹
• Variable APR: 5.62% – 16.85%² with autopay¹
• Loan Term: 5 – 15 years
• Credit Score: 650+ FICO score

GET YOUR RATE

Eligibility Requirements:

• If applying with a cosigner, the cosigner must have a 650 FICO score or higher
• Must NOT live in Nevada (Earnest does not lend in this state)
• Must be at least 18 years old (or have cosigner with “age of majority” per their state)
• Must be a U.S. citizen or possess a 10-year, non-conditional permanent resident card and SSN (or have a cosigner with this; international students must have a SSN)
• Undergraduates must be enrolled at least as half-time student (no enrollment requirements for graduate students)
• Must be pursuing a bachelor’s or graduate degree at a Title IV-qualified, non-profit, 4-year institution
• No past-due balances up to 1 year prior
• Have at least 3 years of credit history (or have a cosigner with this)
• Minimum income of $35,000 per year (or have cosigner with this)
• No bankruptcy on credit reports
• No accounts currently in collection status
• History of on-time payments

6 GET YOUR RATE

• Loan Amount: varies by lender
• Fixed APR: 5.24% – 10.98% with autopay
• Variable APR: 5.28% – 12.42% with autopay
• Loan Term: 5 – 20 years
• Credit Score: 670+

• Loan Amount: varies by lender
• Fixed APR: 5.24% – 10.98% with autopay
• Variable APR: 5.28% – 12.42% with autopay
• Loan Term: 5 – 20 years
• Credit Score: 670+

GET YOUR RATE

Eligibility Requirements:

• Minimum credit score of 670 (or have a cosigner)
• Must be enrolled in a qualifying educational program
• Must be at least 18 years old with a high school diploma or equivalent (or have a cosigner)
• Must be a U.S. citizen or legal resident with a Social Security number (SSN)
• Have a qualifying debt-to-income (DTI) ratio (or have a cosigner)

FREQUENTLY ASKED QUESTIONS

How do student loans work? When a student enrolls at a college or university, there are various costs that come with attending that need to be covered, including, but not limited to tuition, books and supplies, room and board, food, etc. If they do not have the means to cover all the expenses associated with attending, they can apply for a student loan. There are two types of student loans — federal and private. Federal means the funding is coming from the government, whereas private means the money comes from a bank, credit union or other financial institution. Once you finish school, you’ll be expected to start paying back your student loans, plus interest. There is typically a six-month grace period after graduation before you must start making payments. How do private student loans and federal student loans differ? The main difference between these two loans is that federal student loans come from the government and private loans come from private financial institutions. They can have different interest rates, as well as repayment options. Federal student loans can also be eligible for forgiveness, whereas private student loans are not. How do I find the best private student loan? The best student loans look different for everyone, and if you want to find one that works for you, it’s vital to do your research. Compare different lenders, check their eligibility requirements, and see what loans you qualify for. Don’t forget to look up current student loan interest rates, repayment plans, and fees. How do I apply for a private student loan? Here’s how to apply for a private student loan:

1. Pick a lender and get prequalified.
2. Fill out an application and provide all the necessary documents.
3. Select an interest rate, loan amount, terms, and repayment option.
4. Wait for your loan to be approved.

Can I get a student loan with bad credit? Yes, it is possible to get a student loan with bad credit. However, most lenders will require a cosigner for you to get a student loan approved. What fees should I look out for when choosing a private student loan? Here are the most common fees that come with private student loans:

• Application fees
• Origination fees
• Late payment fees
• Early payment fees
• Loan collection fees
• Payment return fees
• Refinancing fees
• Forbearance and deferment fees

Some lenders, such as Earnest, are known for having zero fees! Will I need a cosigner for a private student loan? Most private lenders will require students to have a cosigner before approving them for student loans. Although, lenders such as Funding U specifically do not ask for cosigners. What kind of student loans will be forgiven? Only federal student loans are eligible for forgiveness. Private student loans cannot be forgiven. Find more information on federal student loan forgiveness here. SALLIE MAE DISCLOSURES: Borrow responsibly: We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan. For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Lowest rates shown include the auto debit discount: Additional information regarding the auto debit discount: Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Terms: Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not. SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. Information advertised valid as of 01/27/2025. Sallie Mae loans are made by Sallie Mae Bank. EARNEST DISCLOSURES: ¹You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred. ²Actual rate and available repayment terms will vary based on your financial profile. Fixed rates range from X.XX% APR to X.XX% APR (excludes 0.25% Auto Pay discount). Variable rates range from X.XX% APR to X.XX% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account. Earnest’s Loan Cost Examples: These examples provide estimates based on principal and Interest payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 15-year term (180 monthly payments of $118.28) and a 11.69% APR would result in a total estimated payment amount of $21,290.40.  For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $126.82) and a 13.03% APR would result in a total estimated payment amount of $22,827.79. These examples provide estimates based on interest only payments while in school.  Variable APR: A $10,000 loan with a 15-year term (180 monthly payments of $118.28) and a 11.69% APR would result in a total estimated payment amount of $26,173.03.  For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $126.82) and a 13.03% APR would result in a total estimated payment amount of $28,186.67.  Your actual repayment terms may vary.  Other repayment options are available. These examples provide estimates based on fixed $25 payments while in school.  Variable APR: A $10,000 loan with a 15-year term (180 monthly payments of $162.65) and a 11.69% APR would result in a total estimated payment amount of $30,584.74.  For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $181.27) and a 13.03% APR would result in a total estimated payment amount of $33,915.55.  Your actual repayment terms may vary.  Other repayment options are available. These examples provide estimates based on deferred payments.  Variable APR: A $10,000 loan with a 15-year term (180 monthly payments of $174.79) and a 11.69% APR would result in a total estimated payment amount of $31,462.16.  For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $193.75) and a 13.03% APR would result in a total estimated payment amount of $34,874.28.  Your actual repayment terms may vary.  Other repayment options are available.  It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred. CREDIBLE DISCLOSURES: We accept advertising compensation from companies that appear on this site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company lists on this page DO NOT imply endorsement. We do not feature all providers on the market. ASCENT DISCLOSURES: Rate Disclosure: Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 8/1/2023 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest APRs require interest-only payments, the shortest loan term, and a cosigner, and are only available to our most creditworthy applicants and cosigners with the highest average credit scores. Min Loan Disclosure: *The minimum amount is $2,001 except for the state of Massachusetts. Minimum loan amount for borrowers with a Massachusetts permanent address is $6,0018 COLLEGE AVE DISCLOSURES: Variable rates may increase after consummation. The 0.25% auto-pay interest rate reduction applies as long as the borrower or cosigner, if applicable, enrolls in auto-pay and authorizes our loan servicer to automatically deduct your monthly payments from a valid bank account via Automated Clearing House (“ACH”). The rate reduction applies for as long as the monthly payment amount is successfully deducted from the designated bank account and is suspended during periods of forbearance and certain deferments. If a payment is returned, you will lose this benefit. WE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE (IN WHOLE OR IN PART) THIS LOAN PROGRAM AND ITS ASSOCIATED SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK WWW.COLLEGEAVE.COM FOR THE MOST UP-TO-DATE INFORMATION. College Ave is not a bank. Banking services provided by Evolve Bank & Trust, and the College Ave Mastercard Charge Card is issued by Evolve Bank & Trust, Member FDIC pursuant to a license from Mastercard International Incorporated. Mastercard and the Mastercard Brand Mark are registered trademarks of Mastercard International Incorporated. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by College Ave. FUNDING U DISCLOSURES: LOAN ELIGIBILITY: Must be a US citizen or permanent resident, age 18 or over. Must be enrolled as a full-time undergraduate student in a bachelor’s degree program at a Title IV-eligible four year college (for-profit schools not eligible). LOAN AVAILABILITY – Residents of the following states are eligible for 2024-2025 loans: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, and Wisconsin. Terms and conditions vary by state. DISCLAIMER: Offered terms are subject to change. Loans are made by Funding University which is a for-profit enterprise. Funding University is not affiliated with the school you are attending or any other learning institution. None of the information contained in Funding University’s website constitutes a recommendation, solicitation or offer by Funding University or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service. NMLS #1819881 | www.nmlsconsumeraccess.org | Funding University, Inc.