Last Updated: October 2018
If savings, scholarships, and grants aren’t enough to fully fund your college education, you might be considering taking out a private student loan. If so, it’s wise to do some research first. 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 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.
|
Quick Links to the Best Banks |
|
|---|---|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
| Variable Rates (APR) w/ Autopay | |||||
|---|---|---|---|---|---|
Featured  |
3.94% - 11.19%1 | 5.29% - 12.78%1 | Undergrad, Graduate & Parent | 5, 8, 10, & 15 years3 |
|
 |
4.25 - 11.10%1 | 5.74% - 11.85%1 | Undergrad | 5-15 years3 |
|
 |
4.26% - 12.13%1 | 5.25% - 12.09%1 | Undergrad, Graduate & Parent | 5, 10 & 15 years Rate & Repayment Examples |
|
 |
3.72% - 9.68%1 | 5.30% - 9.82%1 | Undergrad & Graduate | 5, 10 & 15 years |
|
 |
4.04% - 13.04%1 | 5.81% - 14.87%1 | Undergrad & Graduate | 5, 10 & 15 years4 |
|
 |
4.92% - 10.01%1 | 5.36% - 9.69%1 | Undergrad & Graduate | 10 years |
|
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:
Let’s talk about what you should look for in a loan.
| Interest Rate Discounts | ||||||
|---|---|---|---|---|---|---|
Featured |
Auto-Pay (0.25%)1 | No | Flat Payment (In-School), Full (principal & interest), Deferred, & Interest-only | Yes | 6 months |
|
|
0.25 percentage point deduction for auto debit1 | No | Pay now or later: Make interest payments, pay a fixed payment, or defer payments until after school.1 | Yes1 | 6 months1 |
|
|
Autopay (0.25%)3 Loyalty (0.25%)2 |
Yes8 | Full (principal & interest), Deferred, Interest-only, Immediate-Repayment10 | Yes4 | 6 months |
|
|
Auto-Pay (0.25%)1 | No | Immediate repayment, interest-only, fixed monthly payments in school, fully deferred | Yes | 6 months |
|
|
0.25% for enrollment in automatic debit5 | No | In-School interest only, Deferred, and $25 minimum payment | Yes10 | 6 months |
|
|
Auto-Pay (0.25%)3 | No | Full payments (Principal and Interest) | Yes | 6 months |
|
| Max Loan Limits | ||||||
|---|---|---|---|---|---|---|
Featured |
$1,0002 | $80,000 (Up to 100% of school-certified Cost of Attendance2 | $35,000/year | Yes | Yes |
|
|
$1,000 | Up to 100% of school-certified Cost of Attendance1 | Yes | Yes |
|
|
|
$1,000 | Undergrad: $90,000 Grad: $110,000 Business/Law: $180,000 Medica/Dental: $295,0009 |
$12,000/year | Yes6,7 | Yes Half-time required |
|
|
$3,000 | Up to cost of attendance (or $200K) | No min | Yes | Yes |
|
|
$2,000 | $200,000 | Cosigner minimum gross annual income of $24,000 | Yes* | Yes |
|
|
$2,000 | Up to 100% of school-certified Cost of Attendance | $15,000/year | Yes | Yes |
|
| Loan Type | ||||||
|---|---|---|---|---|---|---|
Featured |
Variable (APR) | Variable (APR)3.94% - 11.19%1 Fixed (APR) 5.29% - 12.78%1 |
3.94% - 9.25%1 | 5.22% - 9.66%1 | None |
|
|
Variable (APR) | Variable (APR)4.25% - 11.10%1 Fixed (APR) 5.74% - 11.85%1 |
4.25% - 9.28%1 | 5.74% -12.12%2 | Late Fees and Returned Check Fees may apply |
|
|
Variable (APR) | Variable (APR)4.25% - 12.13%1 Fixed (APR) 5.74% - 12.09%1 |
4.26% - 11.59%1 | 5.24% - 8.56%5 | None |
|
|
Variable (APR) | Variable (APR)3.72% - 9.68%1 Fixed (APR) 5.30% - 9.82%1 |
3.72% - 9.63%1 | N/A | None |
|
|
Variable (APR) | Variable (APR)4.04% - 13.04%1 Fixed (APR) 5.81% - 14.87%1 |
4.04% - 13.04%1 | N/A | None |
|
|
Variable (APR) | Variable (APR)4.92% - 10.01%1 Fixed (APR) 5.36% - 9.69%1 |
4.92% - 10.01%1 | N/A | None |
|
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 loans from College Ave:
With over 40 years of experience, 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 Loans® from Sallie Mae:
Citizens One 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 One:
Start your private student loan application now with Citizens One.
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 a private student loans through CommonBond:
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.
LendKey is one of the most exciting new players in the student loan space. It connects borrowers with smaller, local banks and credit unions around the country, giving you access to potentially great deals that might not otherwise be on your radar screen.
Key features of a student loan from LendKey:
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 & may get a lower interest rate, and
2.) if you apply through Nitro, any loan application fees will be waived.
