STUDENT LOAN
WINNERS for 2021
Best Student Loan Refinancing Overall (tie)
on NerdWallet's secure website
on NerdWallet's secure website
7.74-9.93%
670
Pros
- Married couples can refinance student loans into a single loan.
- You can refinance parent PLUS loans in your name.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- Estate is still responsible for the loan if the borrower dies.
Qualifications
- Typical credit score of approved borrowers or co-signers: 773.
- Loan amounts: $7,500 to $300,000.
- Must have a degree: Yes, at least a bachelor’s degree.
Available Term Lengths
- 5, 8, 12 or 15 years
Disclaimer: Rates and offers current as of August 13, 2022. Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 7.74% APR - 9.93% APR. Fixed Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
7.74-9.93%
670
Pros
- Married couples can refinance student loans into a single loan.
- You can refinance parent PLUS loans in your name.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- Estate is still responsible for the loan if the borrower dies.
Qualifications
- Typical credit score of approved borrowers or co-signers: 773.
- Loan amounts: $7,500 to $300,000.
- Must have a degree: Yes, at least a bachelor’s degree.
Available Term Lengths
- 5, 8, 12 or 15 years
Disclaimer: Rates and offers current as of August 13, 2022. Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 7.74% APR - 9.93% APR. Fixed Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
7.74-9.93%
670
Pros
- Married couples can refinance student loans into a single loan.
- You can refinance parent PLUS loans in your name.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- Estate is still responsible for the loan if the borrower dies.
Qualifications
- Typical credit score of approved borrowers or co-signers: 773.
- Loan amounts: $7,500 to $300,000.
- Must have a degree: Yes, at least a bachelor’s degree.
Available Term Lengths
- 5, 8, 12 or 15 years
Disclaimer: Rates and offers current as of August 13, 2022. Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 7.74% APR - 9.93% APR. Fixed Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
Why this Lender made the list
PenFed Powered by Purefy earns top marks among student loan refinance lenders based on the strength of its fast payoff features and its customer support.
Read our methodologyBest Student Loan Refinancing Overall (tie)
on Earnest's website
on Earnest's website
3.99-9.74%
5.74-9.74%
650
Pros
- Customizable payments and loan terms.
- Option to skip one payment every 12 months.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- Loans aren't available in Nevada.
Qualifications
- Typical credit score of approved borrowers or co-signers: 760.
- Loan amounts: $5,000 to $500,000.
- Must have a degree: No, but must be within six months of graduation and have income or a job.
Available Term Lengths
- 5 to 20 years
Disclaimer: Actual rate and available repayment terms will vary based on your income. Fixed rates range from 4.24% APR to 9.99% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.99% APR to 9.99% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan refinance 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. The maximum rate for your loan is 8.95% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. 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.
3.99-9.74%
5.74-9.74%
650
Pros
- Customizable payments and loan terms.
- Option to skip one payment every 12 months.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- Loans aren't available in Nevada.
Qualifications
- Typical credit score of approved borrowers or co-signers: 760.
- Loan amounts: $5,000 to $500,000.
- Must have a degree: No, but must be within six months of graduation and have income or a job.
Available Term Lengths
- 5 to 20 years
Disclaimer: Actual rate and available repayment terms will vary based on your income. Fixed rates range from 4.24% APR to 9.99% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.99% APR to 9.99% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan refinance 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. The maximum rate for your loan is 8.95% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. 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.
3.99-9.74%
5.74-9.74%
650
Pros
- Customizable payments and loan terms.
- Option to skip one payment every 12 months.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- Loans aren't available in Nevada.
Qualifications
- Typical credit score of approved borrowers or co-signers: 760.
- Loan amounts: $5,000 to $500,000.
- Must have a degree: No, but must be within six months of graduation and have income or a job.
Available Term Lengths
- 5 to 20 years
Disclaimer: Actual rate and available repayment terms will vary based on your income. Fixed rates range from 4.24% APR to 9.99% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.99% APR to 9.99% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan refinance 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. The maximum rate for your loan is 8.95% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. 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.
Why this Lender made the list
Earnest student loan refinance earns top marks among student loan refinance lenders due to its fast payoff features and transparency about requirements.
Read our methodologyBest Student Loan Refinancing for Doctors
on SoFi's website
on SoFi's website
3.99-9.99%
5.99-9.99%
650
Pros
- You can refinance parent PLUS loans from the parent’s name to the student’s.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- No co-signer release available.
- Loan size minimum is higher than most lenders.
Qualifications
- Typical credit score of approved borrowers or co-signers: 700+.
- Loan amounts: $5,000, up to your total outstanding loan balance.
- Must have a degree: Yes, an associate degree or higher.
Available Term Lengths
- 5, 7, 10, 15 or 20 years
Disclaimer: With all discounts. Fixed rates range from 3.99% APR to 9.99% APR with 0.25% autopay discount and 0.25% direct deposit discount. Variable rates range from 5.99% APR to 9.99% APR with 0.25% autopay discount and 0.25% direct deposit discount. Unless required to be lower to comply with applicable law, Variable Interest rates will never exceed 13.95% (the maximum rate for these loans). SoFi rate ranges are current as of 10/4/24 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay and Direct Deposit are not required to receive a loan from SoFi. You may pay more interest over the life of the loan if you refinance with an extended term. 0.25% Direct Deposit Discount: Terms and conditions apply. Offer good for Student Loan Refinance (SLR) borrowers that apply for a new SLR on or after 9/17/2024. To be eligible to receive the 0.25% interest rate reduction offer: You must (1) Complete a Student Loan refinance application with SoFi beginning September 17, 2024; (2) Be approved by SoFi for the loan meeting all SoFi’s underwriting criteria; (3) Have either an existing SoFi Checking and Savings account, a SoFi Money cash management account or open a new SoFi Checking and Savings account within 30 days of funding the new loan, AND receive a direct deposit of at least $1,000 to the account within the first 30 days of funding the new loan ("Direct Deposit Account"); (4) Be the primary SLR account holder. If eligible at SoFi’s sole discretion, you will receive this discount during periods in which you have received direct deposits of at least $1,000 every 30 days to a Direct Deposit Account. This discount will be removed during periods in which SoFi determines you have not received at least $1,000 every 30 days in direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to obtain a Loan. This discount lowers your interest rate but does not change the amount of your monthly payment. SoFi reserves the right to change or terminate this Rate Discount Program to unenrolled participants at any time without notice.
3.99-9.99%
5.99-9.99%
650
Pros
- You can refinance parent PLUS loans from the parent’s name to the student’s.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- No co-signer release available.
- Loan size minimum is higher than most lenders.
Qualifications
- Typical credit score of approved borrowers or co-signers: 700+.
- Loan amounts: $5,000, up to your total outstanding loan balance.
- Must have a degree: Yes, an associate degree or higher.
Available Term Lengths
- 5, 7, 10, 15 or 20 years
Disclaimer: With all discounts. Fixed rates range from 3.99% APR to 9.99% APR with 0.25% autopay discount and 0.25% direct deposit discount. Variable rates range from 5.99% APR to 9.99% APR with 0.25% autopay discount and 0.25% direct deposit discount. Unless required to be lower to comply with applicable law, Variable Interest rates will never exceed 13.95% (the maximum rate for these loans). SoFi rate ranges are current as of 10/4/24 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay and Direct Deposit are not required to receive a loan from SoFi. You may pay more interest over the life of the loan if you refinance with an extended term. 0.25% Direct Deposit Discount: Terms and conditions apply. Offer good for Student Loan Refinance (SLR) borrowers that apply for a new SLR on or after 9/17/2024. To be eligible to receive the 0.25% interest rate reduction offer: You must (1) Complete a Student Loan refinance application with SoFi beginning September 17, 2024; (2) Be approved by SoFi for the loan meeting all SoFi’s underwriting criteria; (3) Have either an existing SoFi Checking and Savings account, a SoFi Money cash management account or open a new SoFi Checking and Savings account within 30 days of funding the new loan, AND receive a direct deposit of at least $1,000 to the account within the first 30 days of funding the new loan ("Direct Deposit Account"); (4) Be the primary SLR account holder. If eligible at SoFi’s sole discretion, you will receive this discount during periods in which you have received direct deposits of at least $1,000 every 30 days to a Direct Deposit Account. This discount will be removed during periods in which SoFi determines you have not received at least $1,000 every 30 days in direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to obtain a Loan. This discount lowers your interest rate but does not change the amount of your monthly payment. SoFi reserves the right to change or terminate this Rate Discount Program to unenrolled participants at any time without notice.
3.99-9.99%
5.99-9.99%
650
Pros
- You can refinance parent PLUS loans from the parent’s name to the student’s.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- No co-signer release available.
- Loan size minimum is higher than most lenders.
Qualifications
- Typical credit score of approved borrowers or co-signers: 700+.
- Loan amounts: $5,000, up to your total outstanding loan balance.
- Must have a degree: Yes, an associate degree or higher.
Available Term Lengths
- 5, 7, 10, 15 or 20 years
Disclaimer: With all discounts. Fixed rates range from 3.99% APR to 9.99% APR with 0.25% autopay discount and 0.25% direct deposit discount. Variable rates range from 5.99% APR to 9.99% APR with 0.25% autopay discount and 0.25% direct deposit discount. Unless required to be lower to comply with applicable law, Variable Interest rates will never exceed 13.95% (the maximum rate for these loans). SoFi rate ranges are current as of 10/4/24 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay and Direct Deposit are not required to receive a loan from SoFi. You may pay more interest over the life of the loan if you refinance with an extended term. 0.25% Direct Deposit Discount: Terms and conditions apply. Offer good for Student Loan Refinance (SLR) borrowers that apply for a new SLR on or after 9/17/2024. To be eligible to receive the 0.25% interest rate reduction offer: You must (1) Complete a Student Loan refinance application with SoFi beginning September 17, 2024; (2) Be approved by SoFi for the loan meeting all SoFi’s underwriting criteria; (3) Have either an existing SoFi Checking and Savings account, a SoFi Money cash management account or open a new SoFi Checking and Savings account within 30 days of funding the new loan, AND receive a direct deposit of at least $1,000 to the account within the first 30 days of funding the new loan ("Direct Deposit Account"); (4) Be the primary SLR account holder. If eligible at SoFi’s sole discretion, you will receive this discount during periods in which you have received direct deposits of at least $1,000 every 30 days to a Direct Deposit Account. This discount will be removed during periods in which SoFi determines you have not received at least $1,000 every 30 days in direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to obtain a Loan. This discount lowers your interest rate but does not change the amount of your monthly payment. SoFi reserves the right to change or terminate this Rate Discount Program to unenrolled participants at any time without notice.
Why this Lender made the list
SoFi is one of few lenders that lets doctors refinance during their residency or after. Residents are eligible for monthly payments of $100.
Read our methodologyBest Student Loan Refinancing for Fast Payoff
on NerdWallet's secure website
on NerdWallet's secure website
7.74-9.93%
670
Pros
- Married couples can refinance student loans into a single loan.
- You can refinance parent PLUS loans in your name.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- Estate is still responsible for the loan if the borrower dies.
Qualifications
- Typical credit score of approved borrowers or co-signers: 773.
- Loan amounts: $7,500 to $300,000.
- Must have a degree: Yes, at least a bachelor’s degree.
Available Term Lengths
- 5, 8, 12 or 15 years
Disclaimer: Rates and offers current as of August 13, 2022. Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 7.74% APR - 9.93% APR. Fixed Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
7.74-9.93%
670
Pros
- Married couples can refinance student loans into a single loan.
- You can refinance parent PLUS loans in your name.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- Estate is still responsible for the loan if the borrower dies.
Qualifications
- Typical credit score of approved borrowers or co-signers: 773.
- Loan amounts: $7,500 to $300,000.
- Must have a degree: Yes, at least a bachelor’s degree.
Available Term Lengths
- 5, 8, 12 or 15 years
Disclaimer: Rates and offers current as of August 13, 2022. Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 7.74% APR - 9.93% APR. Fixed Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
7.74-9.93%
670
Pros
- Married couples can refinance student loans into a single loan.
- You can refinance parent PLUS loans in your name.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons
- Estate is still responsible for the loan if the borrower dies.
Qualifications
- Typical credit score of approved borrowers or co-signers: 773.
- Loan amounts: $7,500 to $300,000.
- Must have a degree: Yes, at least a bachelor’s degree.
Available Term Lengths
- 5, 8, 12 or 15 years
Disclaimer: Rates and offers current as of August 13, 2022. Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 7.74% APR - 9.93% APR. Fixed Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
Why this Lender made the list
PenFed Powered by Purefy offers short loan terms and accepts biweekly and greater-than-minimum payments via autopay, helping borrowers repay loans faster.
Read our methodologyBest Private Student Loan
on Ascent's website
on Ascent's website
3.59-14.16%
6.00-15.21%
Low-Mid 600s
Pros
- Among the best for payment flexibility.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Stands out for features that enable faster loan repayment.
Cons
- Students enrolled less than half-time are not eligible.
- Co-signer release not available to international students.
Qualifications
- Typical credit score of approved borrowers: Did not disclose.
- Minimum income: $0 for primary borrower. $24,000 for current and previous year for co-signer.
- Loan amounts: $2,001 to $200,000 per year with an aggregate loan limit of $200,000.
Available Term Lengths
- 5, 7, 10, 12 or 15 years
Disclaimer: 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, terms and conditions may apply for Ascent's Terms and Conditions please visit: AscentFunding.com/Ts&Cs. Rates displayed above are effective as of 10/1/2024 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.
3.59-14.16%
6.00-15.21%
Low-Mid 600s
Pros
- Among the best for payment flexibility.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Stands out for features that enable faster loan repayment.
Cons
- Students enrolled less than half-time are not eligible.
- Co-signer release not available to international students.
Qualifications
- Typical credit score of approved borrowers: Did not disclose.
- Minimum income: $0 for primary borrower. $24,000 for current and previous year for co-signer.
- Loan amounts: $2,001 to $200,000 per year with an aggregate loan limit of $200,000.
Available Term Lengths
- 5, 7, 10, 12 or 15 years
Disclaimer: 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, terms and conditions may apply for Ascent's Terms and Conditions please visit: AscentFunding.com/Ts&Cs. Rates displayed above are effective as of 10/1/2024 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.
3.59-14.16%
6.00-15.21%
Low-Mid 600s
Pros
- Among the best for payment flexibility.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Stands out for features that enable faster loan repayment.
Cons
- Students enrolled less than half-time are not eligible.
- Co-signer release not available to international students.
Qualifications
- Typical credit score of approved borrowers: Did not disclose.
- Minimum income: $0 for primary borrower. $24,000 for current and previous year for co-signer.
- Loan amounts: $2,001 to $200,000 per year with an aggregate loan limit of $200,000.
Available Term Lengths
- 5, 7, 10, 12 or 15 years
Disclaimer: 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, terms and conditions may apply for Ascent's Terms and Conditions please visit: AscentFunding.com/Ts&Cs. Rates displayed above are effective as of 10/1/2024 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.
Why this Lender made the list
Ascent scores top marks among private student loan lenders for its fast repayment features, customer support and wide variety of customers served.
Read our methodologyBest Student Loan for Parents
on College Ave's website
on College Ave's website
3.59-17.99%
5.59-17.99%
Mid-600s
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- You can choose your monthly payment while the student is in school, provided it covers at least the interest.
Cons
- No co-signer option.
- Estate is still responsible for the loan if the parent borrower dies.
Qualifications
- Typical credit score of approved borrowers: Mid-700s.
- Minimum income: $70,000 per year.
- Loan amounts: $1,000 up to school-certified cost of attendance.
Available Term Lengths
- Between 5 and 15 years.
Disclaimer: College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 10/08/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
3.59-17.99%
5.59-17.99%
Mid-600s
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- You can choose your monthly payment while the student is in school, provided it covers at least the interest.
Cons
- No co-signer option.
- Estate is still responsible for the loan if the parent borrower dies.
Qualifications
- Typical credit score of approved borrowers: Mid-700s.
- Minimum income: $70,000 per year.
- Loan amounts: $1,000 up to school-certified cost of attendance.
Available Term Lengths
- Between 5 and 15 years.
Disclaimer: College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 10/08/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
3.59-17.99%
5.59-17.99%
Mid-600s
Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- You can choose your monthly payment while the student is in school, provided it covers at least the interest.
Cons
- No co-signer option.
- Estate is still responsible for the loan if the parent borrower dies.
Qualifications
- Typical credit score of approved borrowers: Mid-700s.
- Minimum income: $70,000 per year.
- Loan amounts: $1,000 up to school-certified cost of attendance.
Available Term Lengths
- Between 5 and 15 years.
Disclaimer: College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 10/08/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
Why this Lender made the list
College Ave offers parents three payment options while their child is in school and an option to borrow an additional $2,500 to help with school expenses.
Read our methodologyBest Student Loan for Independent Students
on Ascent's website
on Ascent's website
12.63-14.59%
13.47-15.41%
Low-Mid 600s
Pros
- Among the best for payment flexibility.
- Grace period of 9 months is longer than most lenders.
Cons
- International students are not eligible.
- Freshmen, sophomores and those enrolled less than half-time are not eligible for the Outcomes-based loan.
Qualifications
- Typical credit score of approved borrowers: Did not disclose.
- Minimum income: $24,000 per year for credit-based loan. No minimum for future-income based loan.
- Loan amounts: $2,001 to $200,000 per year with an aggregate loan limit of $200,000 for credit-based loan. $2,001 to $20,000 per year for future-income based loan.
Available Term Lengths
- 5, 7, 10, 12 or 15 years
Disclaimer: 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, terms and conditions may apply for Ascent's Terms and Conditions please visit: AscentFunding.com/Ts&Cs. Rates displayed above are effective as of 10/1/2024 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.
12.63-14.59%
13.47-15.41%
Low-Mid 600s
Pros
- Among the best for payment flexibility.
- Grace period of 9 months is longer than most lenders.
Cons
- International students are not eligible.
- Freshmen, sophomores and those enrolled less than half-time are not eligible for the Outcomes-based loan.
Qualifications
- Typical credit score of approved borrowers: Did not disclose.
- Minimum income: $24,000 per year for credit-based loan. No minimum for future-income based loan.
- Loan amounts: $2,001 to $200,000 per year with an aggregate loan limit of $200,000 for credit-based loan. $2,001 to $20,000 per year for future-income based loan.
Available Term Lengths
- 5, 7, 10, 12 or 15 years
Disclaimer: 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, terms and conditions may apply for Ascent's Terms and Conditions please visit: AscentFunding.com/Ts&Cs. Rates displayed above are effective as of 10/1/2024 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.
12.63-14.59%
13.47-15.41%
Low-Mid 600s
Pros
- Among the best for payment flexibility.
- Grace period of 9 months is longer than most lenders.
Cons
- International students are not eligible.
- Freshmen, sophomores and those enrolled less than half-time are not eligible for the Outcomes-based loan.
Qualifications
- Typical credit score of approved borrowers: Did not disclose.
- Minimum income: $24,000 per year for credit-based loan. No minimum for future-income based loan.
- Loan amounts: $2,001 to $200,000 per year with an aggregate loan limit of $200,000 for credit-based loan. $2,001 to $20,000 per year for future-income based loan.
Available Term Lengths
- 5, 7, 10, 12 or 15 years
Disclaimer: 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, terms and conditions may apply for Ascent's Terms and Conditions please visit: AscentFunding.com/Ts&Cs. Rates displayed above are effective as of 10/1/2024 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.
Why this Lender made the list
Ascent scores highest among the few lenders offering private student loans that don’t require credit history or a co-signer, and it serves the most schools.
Read our methodologyFrequently Asked Questions
Get the latest rates.