The Best Private Student Loans of July 2021

Last Updated: 7/26/2021

If savings, scholarships, and grants aren’t enough to fully fund your college education, you might be considering taking out a private student loan. While you want to make sure that you’re getting the best deal possible, it’s also important to ensure that you’re working with a reputable lender.

Securing a student loan with reasonable interest rates and borrower-friendly repayment terms will allow you to invest in your future, knowing that you won’t be saddled with unreasonable debt after you graduate.

Applying with a co-signer greatly improves your chances of approval

Need a student loan? Sallie Mae Is Nitro's Most Visited Lender!

Nitro Recommended

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Sallie Mae® has developed a wide range of private education loans, and other education-related services to help make students' dreams of higher education a reality.

APR: 1.13% - 12.60%1
Loan Types: Undergraduate
Loan Terms: 10 - 15 years3

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Why Get a Student Loan from Sallie Mae?

Students and families can invest in their education with private education loans designed to responsibly bridge the gap between personal resources and federal student aid.

Private education loans:

Smart Option Student Loan® for Undergraduate Students
Sallie Mae Parent Loan

Sallie Mae is committed to serving their borrowers so they can successfully pay their loans and build their credit.

100% U.S. based loan originations and loan servicing representatives
Financial literacy resources
24/7 account self-service available online and by phone
Team dedicated to helping our borrowers in the military

Key features of Smart Option Student Loan® from Sallie Mae:

Competitive interest rates — variable rates start from 1.13% APR to 11.23% APR1 for undergraduate students (as of July 22, 2021). Lowest rates shown include the auto debit discount.
Pay now or later - Defer your payments until after school or choose an in-school repayment option that fits your needs.1
Discounts: Save with auto debit - get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.1
Detailed review of Sallie Mae Student Loans

Get the money you need for school from Sallie Mae

Nitro Recommended

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College Ave is one of the newest and most-innovative lenders in the private student loan marketplace.

APR: 1.04% - 12.99%1
Loan Types: Undergraduate, Graduate & Parent
Loan Terms: 5, 8, 10 & 15 Years

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What Are the Benefits of a College Ave Student Loan?

College Ave stands out in two areas: flexibility and ease of use.

If you want extremely flexible loan repayment options, you should definitely consider looking into student loans from College Ave.

College Ave allows multiple repayment options. For example, if you’re a student, you can opt to make full-principal plus interest payments, interest-only payments, or flat payments of amounts as low as $25 per month while you’re still in school. Borrowers may also defer payments until school is complete.

Key features of a student loans from College Ave:

Easy online application process — apply through a streamlined user interface and get an answer in as little as three minutes
Build-your-own repayment plan — select from a variety of repayment terms to configure your loan payoff in the way that best fits your needs, including the option to make flat monthly payments while you’re still in school
Extremely user-friendly website with tools to help you select the right loan for your unique circumstances
Detailed review of College Ave Student Loans

Get a personalized quote from College Ave now

Nitro Recommended

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To help you borrow responsibly, Ascent has incorporated financial education into their application process.

APR: 1.80% - 12.92%
Loan Types: Undergraduate & Graduate
Loan Terms: 5, 10 & 15 Years

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What are the benefits of an Ascent student loan?If you're in the market for a student loan, Ascent has three unique benefits that you should pay attention to:

1% Cash Back Graduation Reward**
Non-Cosigned loan options for juniors, seniors and graduate students
Graduated Repayment option to make monthly payments more affordable + and deferment and forbearance plans, which can be hard to come by with private lenders

Ascent offers a 1% Cash Back** Graduation Reward if you meet certain qualifying criteria. This is a very unusual benefit among student loan lenders. Depending how much you borrow, your reward could be enough to cover your first monthly payment ... or to buy a new outfit to wear on job interviews.

Key features of a private student loans through Ascent:

1% CASH BACK Graduation Reward
CUSTOMIZE your loan with flexible repayment options
COVER UP TO 100% of your tuition & living expenses
AVOID FEES - No application, origination or disbursement fees
0.25%-2.00% INTEREST RATE REDUCTION for enrolling in automatic payments
RELEASE YOUR COSIGNER after 24 consecutive on-time payments
FREE financial Tools

Detailed review of Ascent Student Loans

Nitro Recommended

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Education Loan Finance (“ELFI”) makes financing your future simple by offering easy payment options, affordable rates, and flexible terms in an application process that is transparent and secure.

APR: 1.20% - 11.99%
Loan Types: Undergraduate, Graduate & Parent
Loan Terms: 5 - 15 Years

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Why Get A Student Loan Through ELFI?

ELFI believes education fuels empowerment, and because of that, we take the hassle out of obtaining a private student loan.

Want freedom? You can check your rate in minutes without it affecting your credit score.

Want savings? You won’t pay an application, origination or prepayment fee.

Looking for support? Your Personal Loan Advisor will make sure there are no hiccups when receiving your funds. How’s that for feeling empowered?

Key features of a student loans from ELFI:

Prequalify to estimate your rate without affecting your credit score
Submit online application in minutes
No application fees, origination fees, or prepayment penalties
Low rates and flexible repayment terms to fit your needs and goals
Personal Loan Advisor to guide you through the application process

Get a personalized quote from ELFI now

Nitro Recommended

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SoFi helps undergrads pay for college without the hassle. See rates and terms in just minutes—and get access to tips, tools, and resources along the way.

APR: 1.05% - 11.34%
Loan Types: Undergraduate & Graduate
Loan Terms: 5, 10 & 15 Years

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Why Get A Student Loan Through SoFi?

A better way to pay for school. SoFi’s helped 300,000+ grads refinance their student debt. Now we’re helping undergraduates pay for school with competitive-rate private school loans.

All online. All easy. Finish our fast and easy online application all in minutes—and add a cosigner in just a few clicks.
Save money. Better rates and more savings versus other private lenders.
Repay your way. Pick the repayment option that works for you and your budget.

Key features of a student loans from SoFi:

We’re making it easy to apply and add a cosigner to your application in minutes.
No fees means no fees. That means no origination fees, no late fees, and no insufficient fund fees. Period.
SoFi has flexible repayment options to help you find the loan that fits your budget.
Get a 0.25% discount when you set up autopay. Plus, SoFi members can qualify for exclusive rate discounts.
Get a your rate in 3 minutes or less.
98% of surveyed members would recommend SoFi to a friend.
SoFi Private Student Loans can cover up to 100% of the school-certified cost of attendance.

Get a personalized quote from SoFi now

Nitro Recommended

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CommonBond entered the student loan marketplace five+ years ago with a novel idea: bring the concept of crowdsourcing to college loans.

APR: 3.52% - 9.74%
Loan Types: Undergraduate & Graduate
Loan Terms: 5, 10 & 15 Years

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Why Get A Student Loan Through CommonBond?

CommonBond entered the student loan marketplace five years ago with a novel idea: bring the concept of crowdsourcing to college loans. The idea quickly garnered attention from investors and CommonBond took off.Some additional key factors to consider:

CommonBond has an award-winning care team (which is pretty rare for the student loan industry!).
They offer resources to the student and their families, such as an undergraduate student loan calculator which provides information about the different options you have to pay for school.

Key features of a private student loans through CommonBond:

Competitive rates: We use technology to keep our costs low so that we can offer you a competitive interest rate. The best part? No double-digit rates here!
Protections: Temporarily postpone payments if you run into financial difficulties. We’ve got your back, while you get back on track.
Service: Our award-winning service is second to none – and we're available by phone, email, and chat to answer any questions you have.
Social promise: For every loan we fund, we also fund the education of a child in need. So your loan doesn't just help you achieve your dreams, it helps a child in the developing world as well.
Detailed review of CommonBond Student Loans

Get your rate from CommonBond now

Nitro Recommended

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Citizens is an established bank with a solid history in student lending.

APR: 1.04% - 10.95%
Loan Types: Undergraduate, Graduate & Parent
Loan Terms: 5, 10 & 15 Years

View Disclosure

Why Get a Student Loan from Citizens One?

Citizens One offers student loans for undergraduate and graduate studies, as well as parent loans. It also has special offerings for business and law degrees and medical and dental degrees.You can apply for a loan as small as $1,000.Maximum aggregate loan amounts are:9

$90,000 for undergraduate
$110 for graduate
$180,000 for business/law
$150,000 or $295,000 for healthcare profesionals (depending on degree)

Citizens also offers a multi-year approval option. 8With their exclusive multi-year approval, you could qualify now through graduation. No searching for a loan each year or having to re-apply. You just simply request your funds once approved.

Key features of a student loan from Citizens:

Helpful online tools — Use the calculator to take a lot of the guesswork out of the application process.
Competitive rates — some of the lowest starting APRs in the student loan space, with variable rates as low as 1.04%1 APR, and fixed rates as low as 3.49%1 APR with loyalty2 and autopay3 discounts. (as of July 2021).
Flexible repayment terms — conserve cash-in-hand by deferring payments or by spreading out your loan payments over several years.10
Detailed review of Citizens Student Loans

Start your private student loan application now with Citizens.

What Makes the Best Student Loan Lenders?

So where can you get the best deal on a private student loan for college? Which lenders have the best rates and terms? And which lenders can you trust?

At Nitro, we have relationships with several lenders that we’ve put through an intensive vetting process. We have researched and compared:

The competitiveness of their rates
Repayment options and terms
Discounts
Fees and penalties
Responsiveness to customers and applicants
The lender’s reputation, history, and solvency

Let’s talk about what you should look for in a loan.

The Benefits of a Private Student Loan

A good student loan should have a few key elements, including:

PAYMENT FLEXIBILITY

Having a variety of payment plans to choose from means that you can select an option that will set you up for success. For example, if you’re not able to make full payments while you’re in school, making interest-only payments until you graduate can prevent additional interest from accruing and inflating the size of your loan.

TIME TO FIND EMPLOYMENT

A grace period after graduation means that you’re not obligated to start making full payments on your loan right away. A typical grace period is about six months after graduation or after your enrollment drops to half-time.

THE ABILITY TO RELEASE YOUR COSIGNER

Few incoming college students have the credit history to qualify for a loan on their own. Most reputable lenders will allow you to release your cosigner from their obligation after you’ve established your own positive credit history and made a certain number on of-time payments. It's a great way to thank your cosigner for their help.

RATE DISCOUNTS

Many lenders offer reduced interest rates to qualified lenders. For example, signing up for autopay can often yield a discount of 0.25 percentage points. That quarter of a percent can save you a lot of money over the life of your loan.

Discounts and Additional Benefits for Private Student Loans

	Interest Rate Discounts	Multi-year Borrower Option	Repayment Options (Monthly)	Cosigner Release	Grace Period
Interest Rate Discounts
Top Visited Lender	0.25 percentage point deduction for auto debit¹	No	Pay now or later: Make interest payments, pay a fixed $25 payment,³ or defer payments until after school.¹	Yes⁴	6 months¹	View Loan Disclosure
	Auto-Pay (0.25%)¹	No	Flat Payment (In-School), Full (principal & interest), Deferred, & Interest-only	Yes	6 months	View Loan Disclosure
	0.25% - 1.00% discount for enrollment in automatic debit⁵	No	In-School interest only, Deferred, and $25 minimum payment	Yes¹⁰	9 months	View Loan Disclosure
	No	No	ELFI offers Immediate, Deferred, Fixed, and Interest Only Repayment options	No	6 months	View Loan Disclosure
	0.25% autopay discount	No	Deferred Payment, Fixed $25 Payment, Interest-Only Payment, Principal & Interest Payment	Yes, after 24 payments of P&I	6 months	View Loan Disclosure
	Auto-Pay (0.25%)¹	No	Immediate repayment, interest-only, fixed monthly payments in school, fully deferred	Yes	6 months	View Loan Disclosure
	Autopay (0.25%)³ Loyalty (0.25%)²	Yes⁸	Full (principal & interest), Deferred, Interest-only, Immediate-Repayment¹⁰	Yes⁴	6 months	View Loan Disclosure

Would I be Eligible for a Private Student Loan?

Most lenders determine loan eligibility based on a defined set of characteristics that paint a picture of your credit worthiness.

What are banks looking for, specifically? To give you an idea, here’s what our preferred lenders typically evaluate when considering a new loan.

Eligibility Requirements for Private Student Loans

	Min Loan Limits	Max Loan Limits	Annual Income Requirements	US Citizenship / Permanent Resident	Proof of School Enrollment
Max Loan Limits
Top Visited Lender	$1,000	Up to 100% of school-certified expenses⁵		Yes	Yes	View Loan Disclosure
	$1,000²	$80,000 (Up to 100% of school-certified Cost of Attendance²	$35,000/year	Yes	Yes	View Loan Disclosure
	$2,001	$200,000	Cosigner minimum gross annual income of $24,000	Yes*	Yes	View Loan Disclosure
	$1,000	Up to the Cost of Attendance	$35,000	Yes	Yes	View Loan Disclosure
	$5,000	Up to 100% of Cost of Attendance as certified by the school	No limit however proof of income is required	Yes	No	View Loan Disclosure
	$3,000	Up to cost of attendance (or $200K)	No min	Yes	Yes	View Loan Disclosure
	$1,000	Undergrad: $90,000 Grad: $110,000 Business/Law: $180,000 Medica/Dental: $295,000⁹	$12,000/year	Yes^6,7	Yes Half-time required	View Loan Disclosure

Important: Remember, most rising college students do not have enough of a credit history or consistent income to quality for a loan on their own.

Applying with a cosigner can help get you over that hurdle. Or, if you can’t qualify with your current cosigner, consider asking someone else. Keep in mind that cosigners do not have to be parents, guardians, or relatives. Even if you can qualify for a loan on your own, applying with a cosigner may get you a lower interest rate.

What Are the Rates and Fees for a Private Student Loan?

Private student loan costs can be broken down in several ways.

FEES

The first and most-obvious thing to consider are fees, which are one-time charges that are usually attached to a specific service. For example, some lenders charge an application fee or an origination fee, which is typically a percentage of the loan value. Note: None of our recommended lenders charge application or origination fees.

PENALTIES

Next, you’ll want to look at penalties. Some lenders may charge a penalty for early pre-payment. There may also be penalties for late or missed payments. Note: None of our preferred lenders charge early pre-payment fees, which is one major reason we’re happy to recommend them.

INTEREST RATES

Finally, you’ll want to look at the largest cost of all: interest rates. Interest is how you pay the bank for giving you the loan. Interest is charged monthly, based on the annual percentage rate of your loan, or APR. The higher the APR, the most you’re going to pay every month, and ultimately, over the life of the loan. A fixed interest rate means that you’ll pay the same amount of interest for the life of the loan. A variable interest rate may fluctuate based on market conditions, meaning that your payments may increase or decrease over time.

Here’s how our preferred lenders stack up:

Interest Rates, Fees & Penalties to Consider for Private Student Loans

		Undergrad	Graduate	Parent	Fees & Penalties
Loan Type
Top Visited Lender	Variable (APR)	Variable (APR)1.13% -11.23%¹ Fixed (APR) 3.50% - 12.60%¹	2.12% - 11.64%¹	3.37% -12.99%²	No origination or disbursement fees	View Loan Disclosure
	Fixed (APR)	Fixed (APR)3.50% - 12.60%¹	4.75% - 12.11%¹	5.49% - 13.87%²
	Variable (APR)	Variable (APR)1.04% - 11.98%¹ Fixed (APR) 3.24% - 12.99%¹	1.99% - 10.97%¹	1.04% - 11.93%¹	None	View Loan Disclosure
	Fixed (APR)	Fixed (APR)3.24% - 12.99%¹	4.49% - 11.98%¹	3.34% - 12.99%¹
	Variable (APR)	Variable (APR)1.82% - 11.32%¹ Fixed (APR) 3.27% - 12.46%¹	1.80% - 11.07%¹	N/A	None	View Loan Disclosure
	Fixed (APR)	Fixed (APR)3.27% - 12.46%¹	3.20% - 12.92% ¹	N/A
	Variable (APR)	Variable (APR)1.20% - 11.54%¹ Fixed (APR) 3.20% - 11.99%¹	1.20% - 11.54%¹	1.20% - 11.54%¹	No origination or prepayment fees	View Loan Disclosure
	Fixed (APR)	Fixed (APR)3.20% - 11.99%¹	3.20% - 11.99%¹	3.20% - 11.74%¹
	Variable (APR)	Variable (APR)1.12% - 11.23%¹ Fixed (APR) 3.49 - 10.66%¹	1.10 - 11.34%¹	1.20- 11.23%¹	None	View Loan Disclosure
	Fixed (APR)	Fixed (APR)3.49 - 10.66%¹	4.13 - 10.90%¹	4.23 - 10.66%¹
	Variable (APR)	Variable (APR)3.52% - 9.50%¹ Fixed (APR) 5.45% - 9.74%¹	3.52% - 9.50%¹	N/A	None	View Loan Disclosure
	Fixed (APR)	Fixed (APR)5.45% - 9.74%¹	5.40% - 9.74%¹	N/A
	Variable (APR)	Variable (APR)1.04% - 10.25%¹ Fixed (APR) 3.49% - 10.83%¹	1.90% - 10.42%¹	1.98% - 7.07%⁵	None	View Loan Disclosure
	Fixed (APR)	Fixed (APR)3.49% - 10.83%¹	4.64% - 10.95%¹	4.55% - 7.58%⁵

How Should I Compare Lenders for Private Student Loans?

Hopefully some of the charts in this article have given you some insight into how different lenders compare. But there’s more to a loan than just crunching numbers. As we mentioned before, working with a reputable lender is key to ensuring that you’re getting a loan that you’ll be able to pay back.

Our review of the top banks for private student loans and why we endorse the following six lenders:

View Loan Disclosure

Sallie Mae® has developed a wide range of private education loans and other education-related services to help make students' dreams of higher education a reality.

Key features of Smart Option Student Loan® from Sallie Mae:

Competitive interest rates — Variable rates start from 1.13% APR to 11.23% APR¹ for undergraduate students (as of July 22, 2021). Lowest rates shown include the auto debit discount.
Pay now or later - Defer your payments until after you graduate or choose an in-school repayment option that fits your needs.¹
Discounts: Save with auto debit - Get a 0.25 percentage point interest rate reduction when you enroll in and make monthly payments by auto debit.¹
Detailed review of Sallie Mae Student Loans

Get the money you need for school from Sallie Mae

View Loan Disclosure

College Ave is one of the newest and most-innovative lenders in the private student loan marketplace. The company was founded by veterans of the student loan business who wanted to make student loan process more transparent and flexible.

Key features of a student loan from College Ave:

Easy online application process — Apply through a streamlined user interface and get an answer in as little as three minutes.
Build-your-own repayment plan — Select from a variety of repayment terms to configure your loan payoff in the way that best fits your needs, including the option to make flat monthly payments while you’re still in school.
Extremely user-friendly website with tools to help you select the right loan for your unique circumstances.
Detailed review of College Ave Student Loans

Get a personalized quote from College Ave now

View Loan Disclosure

Key features of a private student loan through Ascent include:

1% CASH BACK Graduation Reward.⁹
AFFORDABLE fixed or variable rates.¹
CUSTOMIZE your loan with flexible repayment options.
COVER UP TO 100% of your tuition & living expenses.
AVOID FEES - No application, origination or disbursement fees.
NO PENALTY FEE if you pay off your loan early.
0.25% - 2.00% INTEREST RATE REDUCTION for enrolling in automatic payments.
RELEASE YOUR COSIGNER after 24 consecutive on-time payments.
100% US-based customer service.
FREE financial tools.
Detailed review of Ascent Student Loans

It’s wrong to lose your financial freedom before you’ve even had a chance to earn it! To help you borrow responsibly, Ascent has incorporated financial education into their application process and give you exclusive access to tools to help you manage your money.

View Loan Disclosure

ELFI believes education fuels empowerment, and because of that, we take the hassle out of obtaining a private student loan.

Key features of a student loans from ELFI:

Prequalify to estimate your rate without affecting your credit score
Submit online application in minutes
No application fees, origination fees, or prepayment penalties
Low rates and flexible repayment terms to fit your needs and goals
Personal Loan Advisor to guide you through the application process

Get a personalized quote from ELFI now

View Loan Disclosure

SoFi helps undergrads pay for college without the hassle. See rates and terms in just minutes—and get access to tips, tools, and resources along the way.

Key features of a student loan from SoFi:

We’re making it easy to apply and add a cosigner to your application in minutes.
No fees means no fees. That means no origination fees, no late fees, and no insufficient fund fees. Period.
SoFi has flexible repayment options to help you find the loan that fits your budget.
Get a 0.25% discount when you set up autopay. Plus, SoFi members can qualify for exclusive rate discounts.
Get a your rate in 3 minutes or less.
98% of surveyed members would recommend SoFi to a friend.
SoFi Private Student Loans can cover up to 100% of the school-certified cost of attendance.

Apply online in just minutes

View Loan Disclosure

CommonBond entered the student loan marketplace five+ years ago with a novel idea: Bring the concept of crowdsourcing to college loans. The idea quickly garnered attention from investors and CommonBond took off.

Key features of private student loans through CommonBond:

Competitive rates: They use technology to keep costs low so they can offer you a competitive interest rate. The best part? No double-digit rates!
Protections: Temporarily postpone payments if you run into financial difficulties. They've got your back while you get back on track.
Service: Their award-winning service is second to none – and they're available by phone, email, and chat to answer any questions you have.
Social promise: For every loan they fund, they also fund the education of a child in need. So your loan doesn't just help you achieve your dreams, it helps a child in the developing world as well.
Detailed review of CommonBond Student Loans

Get your rate from CommonBond now

View Loan Disclosure

Citizens is an established bank with a solid history in student lending. This lender also ranks high on the “feel good” scale, as it prioritizes charitable giving and offers financial literacy education in the communities where it does business.

Key features of a student loan from Citizens:

Helpful online tools — Use the calculator to take a lot of the guesswork out of the application process.
Competitive rates — Some of the lowest starting APRs in the student loan space, with variable rates as low as 1.04%¹ APR, and fixed rates as low as 3.49% APR with loyalty² and autopay³ discounts. (as of July 2021).
Flexible repayment terms — Conserve cash-in-hand by deferring payments or by spreading out your loan payments over several years.¹⁰
Detailed review of Citizens Student Loans

Start your private student loan application now with Citizens.

Ready to fill your gap in tuition costs and start your college journey?

Apply now and find out your personalized rates with:

** Remember the following two items **

1.) If you apply with a cosigner, you may increase your chances of getting approved for a loan & you may get a lower interest rate, and
2.) If you apply through Nitro, any loan application fees will be waived.

Private Student Loans FAQs

Q. What do I need to apply?

For most student loans, you can apply online within a matter of minutes if you have the right documentation on hand. The information you might want to have at the ready includes:

Contact info
Date of birth
Name of the school
Major
Social security number
Your financial information, including a recent pay stub or other proof of income
Proof of mortgage or rental payment amounts
Contact info for your employer (if applicable)
The financial aid award letter from the school you plan to attend
The total cost of attendance
Total financial aid offered
Anticipated graduation date
A personal reference

Note: If you’re applying with a cosigner, you’ll need the above info as it pertains to him or her as well.

Q: What else do I need to think about when applying for student loans?

Before applying for private student loans, be sure to fill out the Free Application for Federal Student Aid, otherwise known as FAFSA. Doing so will help determine your eligibility for federal grants and loans, as well as some scholarships. Accept all of your grant and scholarship money, followed by federal loans, before applying for private student loans. Then, use our free NitroScore tool to determine how much money you need to borrow before applying for loans.

Q: Does it cost money to apply for a private student loan?

Some banks may charge an application fee. However, all application fees are waived if you apply through Nitro.

Q: How long does it take to get approved for a student loan?

Most lenders will require certain kinds of documentation, including your (and your cosigner’s) social security number, address, and employment or income info. If you have your paperwork in hand, it should take about 15 minutes to go through the application process. Some banks may approve you within a few minutes. If you have to provide additional documentation, that process may take several days.

Q: What’s the difference between a federal student loan and a private student loan? Is one better than the other?

Federal student loans are issued by the government and often feature lower interest rates than loans offered by private lenders. It’s a good idea to utilize all federal loan money that’s offered to you before applying for private student loans.

Q: Should I opt for a variable or fixed interest rate?

A fixed interest rate will remain the same for the life of the loan. A variable interest may fluctuate based on market conditions. That may affect your monthly payment, as well as your overall loan amount. Fixed interest rates are generally a safer bet, although finding a good deal on a variable rate might make sense if you’re only taking the loan for a short period of time, or if interest rates are expected to fall.

Disclaimer: NitroCollege.com is a free website designed to help students and their families evaluate how to responsibly pay for their college education. Before recommending any services we put lenders thru a vetting process that includes: the competitiveness of rates, repayment options and terms, any discounts offered, any fees or penalties to be aware of, responsiveness to customers and applicants, and the lender's overall reputation and history. Nitro is not a lender and is not involved in the private student loan approval process, nor do we make credit related decisions. The lenders profiled on our site are the ones who will issue and approve your private student loan applications. We will sometimes earn a bounty for recommending various products and services to you. Actual interest rates may vary depending on your credit score, income, savings, type of degree, and whether you apply with a cosigner. Here at Nitro we strive to provide the most up-to-date information, but you should always check with individual lenders for current rates, terms, and conditions before applying for private student loans.

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The Best Private Student Loans of July 2021

Applying with a co-signer greatly improves your chances of approval

Need a student loan? Sallie Mae Is Nitro's Most Visited Lender!

Compare All Private Student Loan Options For Your School

Private Student Loan Rates

Compare All Private Student Loan Options For Your School

What Makes the Best Student Loan Lenders?

The Benefits of a Private Student Loan

A good student loan should have a few key elements, including:

PAYMENT FLEXIBILITY

TIME TO FIND EMPLOYMENT

THE ABILITY TO RELEASE YOUR COSIGNER

RATE DISCOUNTS

Discounts and Additional Benefits for Private Student Loans

Would I be Eligible for a Private Student Loan?

Most lenders determine loan eligibility based on a defined set of characteristics that paint a picture of your credit worthiness.

Eligibility Requirements for Private Student Loans

What Are the Rates and Fees for a Private Student Loan?

Private student loan costs can be broken down in several ways.

FEES

PENALTIES

INTEREST RATES

Interest Rates, Fees & Penalties to Consider for Private Student Loans

How Should I Compare Lenders for Private Student Loans?

Our review of the top banks for private student loans and why we endorse the following six lenders:

Ready to fill your gap in tuition costs and start your college journey?

Private Student Loans FAQs