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Partial financial hardship (PFH) is a measurement the Education Department (ED) has used in the past to determine whether a student loan borrower could enroll in certain income-driven repayment (IDR) plans — specifically the Income-Based Repayment (IBR) and Pay As You Earn (PAYE) plans.
If your monthly student loan bill under the standard repayment plan would be more than under IBR or PAYE, then you would have PFH and qualify for IBR or PAYE, providing you meet other eligibility requirements.
But the passage of the One Big Beautiful Bill Act (OBBBA) in July 2025 officially eliminated the PFH requirement for IBR. It also prompted the ED to propose eliminating PFH across all IDR plans.
PFH removal from IBR applications faced roadblocks
While the OBBBA’s passage meant the PFH restriction should be removed from the IBR application immediately, that didn’t happen. An inability of the ED and loan servicers to update their systems quickly resulted in delays, as well as legal action by the American Federation of Teachers (AFT).
The PFH requirement was finally removed from the IBR application on December 22, 2025. During this delay, loan servicers were instructed to hold IBR applications that would otherwise be denied due to lack of PFH, and to process them after systems were updated. But during this time, some IBR applications were denied for not meeting the PFH requirement. Here’s what this means for borrowers:
- Borrowers who could not previously enroll in the IBR plan, because they earn too much to meet the PFH test, can now enroll. They can also see IBR as an option when using the ED’s loan simulator.
- Loan servicers have begun processing IBR applications that were on hold, but the backlog created is causing some delays.
- Borrowers who applied for IBR on or after July 4, 2025, and were denied due to lack of PFH, should reapply according to the ED.
Other PFH changes are in progress
The ED has proposed removing the PFH requirement from all income-driven repayment plans. A Notice of Proposed Rulemaking (NPRM) is currently posted and open for public comment through March 2, 2026 .
Department of Education. Reimagining and Improving Student Education. Accessed Feb 12, 2026.
If the proposal is finalized, borrowers would no longer need to demonstrate PFH to qualify for any IDR plan. Instead, monthly payments would be set using an income-based calculation called the applicable amount.
Status of IDR Plans
Federal income-driven repayment (IDR) plans are in a major transition period. Here are key details to know:
- Income-Based Repayment (IBR). Will remain an option for loans disbursed before July 1, but not if new loans are taken out after that time. No longer requires partial financial hardship.
- Pay As You Earn (PAYE) and Income-Contingent Repayment (ICR). Available only for loans made before July 1, 2026, although enrollment is open until July 1, 2027. To be eliminated by July 1, 2028.
- Saving on a Valuable Education (SAVE). Based on a proposed settlement agreement, SAVE is expected to end in early 2026, requiring borrowers to switch to a new IDR plan.
- Repayment Assistance Plan (RAP). A new income-based plan set to roll out by July 1, 2026. RAP and the standard repayment plan will be the only options for loans taken out after July 1, 2026.
What will replace the PFH requirement?
Instead of using PFH as a gatekeeping test for enrollment into income-driven repayment, the ED proposes basing repayment on something called the applicable amount.
The applicable amount would be an actual payment calculation. In general, it would be based on how much a borrower’s adjusted gross income is above a certain percentage of the federal poverty guideline. A set percentage of income above that threshold would determine the borrower’s payment. Instead of asking whether a borrower qualifies due to hardship, loan servicers would simply calculate the borrower’s payment using the applicable amount formula, based on income and family size.
Partial financial hardship calculator
It’s likely that PFH will be eliminated for all IDR plans, but PFH changes are still in progress. In the interim, we are continuing to provide our partial financial hardship calculator for those who may need it.
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College Ave
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NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
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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 2/2/2026. 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 the Flat Repayment Option with the shortest available loan term.
Min. credit score
Mid-600s
on Sallie Mae website
Sallie Mae
4.5
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
2.89-17.49%
Lowest rates shown include 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. Advertised APRs are valid as of 1/26/2026. Loan amounts: 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. 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.
Min. credit score
Mid-600's
on SoFi® website
SoFi®
5.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.43-15.99%
Min. credit score
Mid-600s
on Ascent website
Ascent
Best for customer support and wide availability
5.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
13.01-15.19%
*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.
Annual Percentage Rates (APRs) displayed are effective as of 02/01/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions, and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time.
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. Variable rates may increase after consummation. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.72% APR, with 57 payments of $47.67 while in-school/grace, 60 payments of $192.05 during the repayment term, and a total cost of $14,240.85.
* $25 Minimum Payment: 6.37% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $231.43 during the repayment term, and a total cost of $15,310.76.
* Deferred Repayment: 6.56% APR, with no payment while in-school/grace, 60 payments of $267.41 during the repayment term, and a total cost of $16,011.15.
* Immediate Repayment: 3.72% APR, with 60 payments of $182.91, and a total cost of $10,974.67.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 15.13% APR, with 57 payments of $126 while in-school/grace, 180 payments of $140.82 during the repayment term, and a total cost of $32,529.44.
* $25 Minimum Payment: 13.74% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $225.28 during the repayment term, and a total cost of $41,977.90.
* Deferred Repayment: 13.98% APR, with no payment while in-school/grace, 180 payments of $259.92 during the repayment term, and a total cost of $44,784.82.
* Immediate Repayment: 14.88% APR, with 180 payments of $139.12, and a total cost of $25,043.28.
Min. credit score
Low-Mid 600s
on Ascent website
Ascent
Best for customer support and wide availability
5.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
13.01-15.19%
*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.
Annual Percentage Rates (APRs) displayed are effective as of 02/01/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions, and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time.
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. Variable rates may increase after consummation. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.72% APR, with 57 payments of $47.67 while in-school/grace, 60 payments of $192.05 during the repayment term, and a total cost of $14,240.85.
* $25 Minimum Payment: 6.37% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $231.43 during the repayment term, and a total cost of $15,310.76.
* Deferred Repayment: 6.56% APR, with no payment while in-school/grace, 60 payments of $267.41 during the repayment term, and a total cost of $16,011.15.
* Immediate Repayment: 3.72% APR, with 60 payments of $182.91, and a total cost of $10,974.67.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 15.13% APR, with 57 payments of $126 while in-school/grace, 180 payments of $140.82 during the repayment term, and a total cost of $32,529.44.
* $25 Minimum Payment: 13.74% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $225.28 during the repayment term, and a total cost of $41,977.90.
* Deferred Repayment: 13.98% APR, with no payment while in-school/grace, 180 payments of $259.92 during the repayment term, and a total cost of $44,784.82.
* Immediate Repayment: 14.88% APR, with 180 payments of $139.12, and a total cost of $25,043.28.
Min. credit score
Low-Mid 600s
on SoFi® website
SoFi®
4.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
4.24-9.99%
With all discounts.
Min. credit score
650
on Earnest website
Earnest
4.5
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
4.15-9.99%
Actual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.40% APR to 10.24% APR (4.15% – 9.99% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.24% APR (5.88% – 9.99% with .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 a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, MS, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and requires selection of our shortest term offered and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
Min. credit score
665
on College Ave website
College Ave
4.5
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
6.99-13.99%
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 the Flat Repayment Option with the shortest available loan term.
Min. credit score
Mid-600s
on College Ave website
College Ave
Best for payment flexibility
5.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
2.84-17.99%
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 2/2/2026. 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 the Flat Repayment Option with the shortest available loan term.
Min. credit score
Mid-600s
on Sallie Mae website
Sallie Mae
4.5
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
2.89-17.49%
Lowest rates shown include 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. Advertised APRs are valid as of 1/26/2026. Loan amounts: 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. 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.
Min. credit score
Mid-600's
on SoFi® website
SoFi®
5.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.43-15.99%
Min. credit score
Mid-600s
on College Ave website
College Ave
5.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
2.84-15.99%
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 2/2/2026. 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 the Flat Repayment Option with the shortest available loan term.
Min. credit score
Mid-600s
on Sallie Mae website
Sallie Mae
4.5
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
2.89-14.99%
Lowest rates shown include the auto debit discount. Advertised APRs for Graduate School Loan, MBA Loans, and Graduate School Loan for Health Professions assume a $10,000 loan with a 2-year in-school period. 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-eighthof 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. Advertised APRs are valid as of 1/26/2026.
Min. credit score
Mid-600's
on Ascent website
Ascent
Best for customer support and wide availability
5.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.49-15.46%
*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.
Annual Percentage Rates (APRs) displayed are effective as of 02/01/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions, and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time.
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. Variable rates may increase after consummation. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.72% APR, with 57 payments of $47.67 while in-school/grace, 60 payments of $192.05 during the repayment term, and a total cost of $14,240.85.
* $25 Minimum Payment: 6.37% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $231.43 during the repayment term, and a total cost of $15,310.76.
* Deferred Repayment: 6.56% APR, with no payment while in-school/grace, 60 payments of $267.41 during the repayment term, and a total cost of $16,011.15.
* Immediate Repayment: 3.72% APR, with 60 payments of $182.91, and a total cost of $10,974.67.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 15.13% APR, with 57 payments of $126 while in-school/grace, 180 payments of $140.82 during the repayment term, and a total cost of $32,529.44.
* $25 Minimum Payment: 13.74% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $225.28 during the repayment term, and a total cost of $41,977.90.
* Deferred Repayment: 13.98% APR, with no payment while in-school/grace, 180 payments of $259.92 during the repayment term, and a total cost of $44,784.82.
* Immediate Repayment: 14.88% APR, with 180 payments of $139.12, and a total cost of $25,043.28.
Min. credit score
Low-Mid 600s
on College Ave website
College Ave
5.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
2.84-17.99%
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 2/2/2026. 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 the Flat Repayment Option with the shortest available loan term.
Min. credit score
Mid-600s
on Ascent website
Ascent
Best for customer support
4.0
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
5.15-15.41%
*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.
Annual Percentage Rates (APRs) displayed are effective as of 02/01/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions, and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time.
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. Variable rates may increase after consummation. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.72% APR, with 57 payments of $47.67 while in-school/grace, 60 payments of $192.05 during the repayment term, and a total cost of $14,240.85.
* $25 Minimum Payment: 6.37% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $231.43 during the repayment term, and a total cost of $15,310.76.
* Deferred Repayment: 6.56% APR, with no payment while in-school/grace, 60 payments of $267.41 during the repayment term, and a total cost of $16,011.15.
* Immediate Repayment: 3.72% APR, with 60 payments of $182.91, and a total cost of $10,974.67.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 15.13% APR, with 57 payments of $126 while in-school/grace, 180 payments of $140.82 during the repayment term, and a total cost of $32,529.44.
* $25 Minimum Payment: 13.74% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $225.28 during the repayment term, and a total cost of $41,977.90.
* Deferred Repayment: 13.98% APR, with no payment while in-school/grace, 180 payments of $259.92 during the repayment term, and a total cost of $44,784.82.
* Immediate Repayment: 14.88% APR, with 180 payments of $139.12, and a total cost of $25,043.28.
Min. credit score
660
on Earnest website
Earnest
4.5
NerdWallet rating
NerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
2.89-14.90%
Earnest Private Student Loans are made by One American Bank, Member FDIC, or FinWise Bank, Member FDIC. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Finwise Bank, 756 East Winchester, Suite 100, Murray, UT 84107. Earnest loans are serviced by Earnest Operations LLC, 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770) One American Bank, FinWise Bank, and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America. © 2025 Earnest LLC. All rights reserved.
Min. credit score
650
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- 1. Department of Education. Reimagining and Improving Student Education. Accessed Feb 12, 2026.
