4 Banks That Offer Student Loans
Few traditional banks offer student loans, but private loans are available from online lenders.
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Which banks offer student loans? Not many. Traditional brick-and-mortar banks used to be a student lending staple, but only a handful still have private loan programs.
If you already use one of these banks, they may offer you a lower interest rate. But compare that offer with rates from other lenders, and exhaust available federal loans before turning to any private option.
Here’s a look at banks that do, and don’t, offer student loans, plus information on getting a private student loan from a bank.
Why trust NerdWallet
- 35+ student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and student loans.
- Objective, comprehensive star-rating system assessing 43 categories and 40+ data points across student loan origination and student loan refinance.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
- 35+ student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and student loans.
- Objective, comprehensive star-rating system assessing 43 categories and 40+ data points across student loan origination and student loan refinance.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Banks That Offer Student Loans
Lender | NerdWallet Rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
5.0 /5 | Mid-600s | 3.23-15.99% | 4.39-15.99% | See Offers on SoFi®'s website | |
4.0 /5 | Does not disclose | 6.69-13.89% | 8.44-11.54% | ||
4.0 /5 | Does not disclose | 3.24-15.49% | 4.95-15.47% | See Offers on Citizens' website | |
4.0 /5 | Mid to High 600s | 3.47-9.15% | 5.81-9.15% |
SoFi Undergraduate Student Loan
Mid-600s
3.23-15.99%
4.39-15.99%
- Key factsBest for flexible repayment options and no fees options.Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Multiple in-school repayment options available, including interest-only and flat-fee, and deferred for undergrad and grad students.
Cons- Does not offer bi-weekly payments via autopay.
Qualifications- Typical credit score of approved borrowers or co-signers: 700+.
- Minimum income: No minimum.
- Loan amounts: $1,000 minimum.
Available Term Lengths5, 7, 10 or 15 years
PNC Private Student Loan
Does not disclose
6.69-13.89%
8.44-11.54%
- Key facts
PNC doesn’t offer an additional interest rate discount if you already have an account with the bank.
Pros- Interest rate discount for autopay is larger than most lenders offer.
Cons- You can’t see if you’ll qualify and what rate you’ll get without a hard credit check.
Qualifications- Typical credit score of approved borrowers: Did not disclose.
- Minimum income: Did not disclose.
- Loan amounts: $1,000 to $50,000.
Available Term Lengths5, 10 or 15 years.
Citizens Private Student Loan
Does not disclose
3.24-15.49%
4.95-15.47%
- Key factsBest for existing Citizens Bank customers.Pros
- Six-month grace period extension is available.
- Loyalty discount for existing Citizens Bank customers.
- Multiyear loan approval is available.
Cons- You must be pursuing a bachelor’s degree or higher.
- You can’t see if you’ll qualify and what rate you’ll get without a hard credit check.
Qualifications- Typical credit score of approved borrowers: Does not disclose.
- Minimum income: Did not disclose.
- Loan amounts: $1,000 to $100,000.
Available Term Lengths5, 10 or 15 years
Nelnet Bank Private Student Loan
Mid to High 600s
3.47-9.15%
5.81-9.15%
- Key factsBest for borrowers who value flexibility in repayment.Pros
- Provides rate offer with soft credit check.
Cons- Does not disclose full underwriting requirements.
- Does not allow bi-weekly payments via autopay.
Qualifications- Typical credit score of approved borrowers: Did not disclose.
- Loan amounts: $1,000 with an aggregate loan limit of $125,000 (Undergrad).
Available Term LengthsDisclaimerFixed interest rates range from 3.47% APR (with auto debit discount) to 9.15% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan. Variable interest rates range from 5.81% APR (with auto debit discount) to 9.15% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates for Nelnet Bank Student Loans are calculated using either (a) the One-Month SOFR; (b) the 30-day Average SOFR; or (c) the forward-looking term rate based on SOFR as published by the Federal Reserve Bank of New York and/or The Wall Street Journal “Money Rates” table on the twenty-fifth day (or the next business day) of the immediately preceding calendar month. The variable rate may reprice and change on the first day of each month if the SOFR index changes. This may result in higher monthly payments. The current One-Month SOFR index is 4.31% as of July 1, 2025. Lowest rates listed above include an interest rate reduction for eligible applications, enrollment in auto debit, and are available only to the most creditworthy applicants. Advertised variable rates reflect the starting range of rates and may increase over the life of the loan. The lowest rate for each loan type requires automatically withdrawn (i.e., auto debit) payments. The lowest rate is available only to the most creditworthy applicants. Not all borrowers will receive the lowest rate. The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the repayment option and loan term selected, and (3) the loan type selected. If approved, applicants will be notified of the rate qualified for within the stated range. Interest rate reduction of .25% for automatically withdrawn payments from any designated bank account (“auto debit discount”). Auto debit discount applies when full payments (including both principal and interest) are automatically drafted from a bank account. The auto debit discount will continue to apply during periods of approved forbearance or deferment if the auto debit discount was in effect at the time of receiving the forbearance or deferment. Auto debit discount will remain on the account unless (1) the automatic deduction of payments is cancelled or (2) there are three consecutive automatic deductions returned for insufficient funds at any time during the term of the loan. Your actual savings, if any, may vary based on interest rates, balances, remaining repayment terms and other factors. Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Checking your rate results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score. Nelnet Bank offers various payment assistance programs to assist you if you are currently struggling to make payments. Contact us at [email protected] or 800.446.4190 to get more information. This referral partner is not the creditor of Nelnet Bank loans and may receive compensation from Nelnet Bank for the referral of Nelnet Bank loan customers. A request for the cosigner to be released can be made by either the borrower or cosigner when each of the following conditions has been met: • The account must have been in full principal and interest repayment for at least 24 months. • Twenty-four consecutive, on-time principal and interest payments, or lump sum equivalent, must have been made. Note: A lump sum payment does not replace the requirement to have been in full principal and interest repayment for at least 24 months. Interest-only or fixed-pay payments while enrolled in school do not qualify toward the 24 consecutive on-time payments. • The loan must be current at the time of request. • The loan must not have been in deferment, hardship forbearance, or other alternative payment assistance plan within the past 24 months. • The loan must not have been permanently modified from its original terms in the credit agreement. • The primary borrower must be a U.S. citizen or have permanent residency in the United States. • The primary borrower must meet the age of majority requirement in their permanent state of residency. • Requirements are subject to change. • If all of these conditions have been met, an application for cosigner release may be submitted. The primary borrower is required to demonstrate they have the ability to assume sole responsibility for the loan(s) by providing proof of income, meeting debt-to-income requirements, and having a satisfactory credit history. (A credit report will be obtained during the review process).
Banks that offer student loans
Only a few national banks offer private student loans. These include:
PNC.
Many of the biggest and most well-known banks and financial institutions in the United States don’t offer private student loans, including:
Citibank.
Wells Fargo.
How to get a student loan from a bank
If you’ve found a bank that offers student loans, follow these steps before you borrow:
Exhaust federal student loans. Banks only offer private student loans. Before borrowing those, max out unsubsidized and subsidized federal student loans because of their low fixed rates and consumer protections. You can qualify for federal student aid by completing the Free Application for Federal Student Aid, or FAFSA.
Compare offers. If federal loans won’t cover all your costs, compare private student loans to get the best rate possible.
Check your qualifications. Banks can be tight-lipped about their financial requirements. But private lenders typically want you to have a credit score above 670 and enough income to afford all your debts and expenses. Banks may have additional requirements.
Apply with the bank. You’ll likely be able to complete the application process on the bank’s website.
Which bank has the best student loan?
The best student loan is generally the one that costs you the least. That may come from a bank, especially if it offers a loyalty discount that lowers your interest rate.
But if your bank doesn’t have a student loan program, evaluate all your options.
Online lenders may lack the brand recognition of some banks, but there are reputable options that offer quick preapproval and match other features you might value in a bank. For example:
One-stop shopping. Online lender SoFi provides multiple products in addition to student loans, including mortgages and investment accounts. This matches the convenience banks offer of working with a single financial institution.
STUDENT LOAN RATINGS METHODOLOGY
Our survey of more than 19 banks, credit unions and online lenders offering student loans and student loan refinancing includes the top 10 lenders by market share and top 10 lenders by online search volume, as well as lenders that serve specialty or nontraditional markets.
We consider 40 features and data points for each financial institution. Depending on the category, these include the availability of biweekly payments through autopay, minimum credit score and income requirement disclosures, availability to borrowers in all states, extended grace periods and in-house customer service.
The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.
Read more about our ratings methodologies for student loans and our editorial guidelines.
Last updated on May 12, 2025
NerdWallet's Banks That Offer Student Loans
- SoFi Undergraduate Student Loan: Best for Borrowing from an online bank
- PNC Private Student Loan: Best for Students who plan to start repayment immediately
- Citizens Private Student Loan: Best for existing Citizens Bank customers or borrowers who didn't graduate or aren't U.S. citizens
- Nelnet Bank Private Student Loan: Best for borrowers with strong finances
