Best Student Loans for 2019

Qualifications

• No credit check or minimum income is needed to borrow.
• Loan amounts: $5,500 year one, $6,500 year two, $7,500 year three and thereafter, up to a total of $31,000

Available Term Lengths

• 10 to 25 years once repayment begins, depending on the repayment plan.

Qualifications

• Typical credit score of approved borrowers or co-signers: Did not disclose for co-signed option. For non-co-signed option, Ascent emphasizes future earnings over income or credit score.
• Minimum income: $24,000 for co-signed option.
• Loan amounts: For co-signed option, $2,000 minimum to $200,000 over the lifetime of a borrower. The amount for each loan period cannot exceed the total cost of attendance. For non-co-signed option, $2,000 to total cost of attendance.
• Non-co-signed borrowers must maintain 2.5 GPA or higher.

Available Term Lengths

• 5, 10 or 15 for cosigned option or 10 or 15 for non-co-signed option

Disclaimer: 6 Ascent Student Loans are funded by Richland State Bank (RSB), Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentStudentLoans.com/Ts&Cs. Rates are effective as of 07/01/2019 and include a 0.25% discount applied when a borrower in repayment elects automatic debit payments via their personal checking account. For Ascent rates and repayment examples please visit: www.AscentStudentLoans.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details.

Qualifications

• Typical credit score of approved borrowers or co-signers: 700+.
• Minimum income: No minimum.
• Loan amounts: $5,000 minimum.

Available Term Lengths

• 5, 10 or 15 years

Disclaimer: Undergraduate Student Loans Fixed Rates: Fixed rates range from 5.05% APR to 11.71% APR (with autopay). Variable Rates: Starting variable rates range from 3.65% to 11.25% APR (with autopay), and will never exceed 13.95% (sometimes lower in certain states as required by law). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin of between 1.58% and 9.98%. The current one-month LIBOR rate is 2.27%. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Graduate Student Loans Fixed Rates: Fixed rates range from 4.33% APR to 11.99% APR (with autopay). Variable Rates: Starting variable rates range from 2.93% to 11.57% APR (with autopay), and will never exceed 13.95% (sometimes lower in certain states as required by law). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin of between 0.86% and 9.76%. The current one-month LIBOR rate is 2.27%. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Parent Student Loans Fixed Rates: Fixed rates range from 5.05% APR to 11.71% APR (with autopay). Variable Rates: Starting variable rates range from 3.65% to 11.25% APR (with autopay), and will never exceed 13.95% (sometimes lower in certain states as required by law). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin of between 1.58% and 9.98%. The current one-month LIBOR rate is 2.27%. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Autopay Discount. The SoFi 0.25% autopay interest rate reduction requires you to agree to make your scheduled monthly payments by an automatic monthly deduction (ACH) from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The discount will not reduce the monthly payment; instead, the interest savings are applied to the principal loan balance, which may help pay the loan down faster. Enrolling in autopay is not required to receive a loan from SoFi. Credit Pulls. To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi to show you what rates and terms you are pre-qualified for, subject to the verification of the information you have submitted as part of your application. After seeing your rates, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan and may impact your credit score. Unemployment Protection.If you lose your job through no fault of your own, you may apply for Unemployment Protection. If you qualify, SoFi will suspend your monthly SoFi loan payments and provide job placement assistance during your forbearance period. Interest will continue to accrue and will be added to your principal balance at the end of each forbearance period, to the extent permitted by applicable law. Benefits are offered in up to three month increments, and capped at 12 months, in aggregate, over the life of the loan. To be eligible for this assistance, you must provide proof that you have applied for and are eligible for unemployment compensation, and you must actively work with SoFi Career Services to look for new employment. If the loan is cosigned, the unemployment protection applies where both the borrower and cosigner lose their job and meet conditions. Learn more about SoFi’s Unemployment Protection here #what is sofis unemployment protection program. Negative Amortization. Interest begins accruing on the first disbursement date, but some repayment options do not require full principal or interest payments until the end of the deferment period. Any unpaid interest that has accrued and remains unpaid at the end of the deferment period will be added to the principal balance at the end of the deferment period. Thereafter, interest will accrue on this new principal balance. This is known as negative amortization. You can help avoid negative amortization by making extra payments on your loan during the deferment period. Check out our APR examples and terms. Still have questions? Our FAQs have answers. Important Information About Federal Repayment Options.SoFi Private Student Loans do not have the same repayment options that federal loan programs offer, such as Income-Based Repayment or Income-Contingent Repayment, or PAYE or REPAYE. In addition, federal student loans offer deferment and forbearance options that are not available for SoFi Lending Corp. Private Student Loan borrowers. Find out more about federal repayment options here.

Qualifications

• Typical credit score of approved borrowers: 768.
• Minimum income: $40,000.
• Loan amounts: $1,500 to $45,000.

Available Term Lengths

• 10 or 15 years

Qualifications

• Typical credit score of approved borrowers or co-signers: Did not disclose for co-signed option. For non-co-signed option, Ascent emphasizes future earnings over income or credit score.
• Minimum income: $24,000 for co-signed option.
• Loan amounts: For co-signed option, $2,000 minimum to $200,000 over the lifetime of a borrower. The amount for each loan period cannot exceed the total cost of attendance. For non-co-signed option, $2,000 to total cost of attendance.
• Non-co-signed borrowers must maintain 2.5 GPA or higher.

Available Term Lengths

• 5, 10 or 15 for cosigned option or 10 or 15 for non-co-signed option

Disclaimer: 6 Ascent Student Loans are funded by Richland State Bank (RSB), Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentStudentLoans.com/Ts&Cs. Rates are effective as of 07/01/2019 and include a 0.25% discount applied when a borrower in repayment elects automatic debit payments via their personal checking account. For Ascent rates and repayment examples please visit: www.AscentStudentLoans.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details.

Qualifications

• Typical credit score of approved borrowers or co-signers: 748.
• Minimum income: Did not disclose.
• Loan amounts: $1,000 up to 100% of the school-certified expenses.

Available Term Lengths

• 5 to 15 years

Disclaimer: Lowest rates shown include the auto debit discount: Fixed 4.74% - 11.35% APR and Variable 3.37% - 10.75% APR. Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You're charged interest starting at disbursement, while in school, during your separation/grace period, and until the loan is paid in full. The repayment option that is selected will apply during the in-school and separation/grace periods. When you enter principal and interest repayment, Unpaid Interest will be added to your loan's Current Principal. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs are valid as of 08/02/2019 and assume a $10,000 loan to a freshman with no other Sallie Mae loans. Additional information regarding the auto debit discount: Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction benefit 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. This benefit may be suspended during periods of forbearance or deferment, if available for the loan Loan amounts: $1000 up to 100% of the school certified expenses: Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Repayment term of 5 to 15 years: This repayment example is based on a typical Smart Option Student Loan made to a freshman borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 8.44% fixed APR. It works out to 51 payments of $25.00, 119 payments of $156.04 and one payment of $118.97, for a Total Loan Cost of $19,962.73.

Qualifications

• Typical credit score of approved borrowers or co-signers: 700+.
• Minimum income: No minimum.
• Loan amounts: $5,000 minimum.

Available Term Lengths

• 5, 10 or 15 years

Disclaimer: Undergraduate Student Loans Fixed Rates: Fixed rates range from 5.05% APR to 11.71% APR (with autopay). Variable Rates: Starting variable rates range from 3.65% to 11.25% APR (with autopay), and will never exceed 13.95% (sometimes lower in certain states as required by law). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin of between 1.58% and 9.98%. The current one-month LIBOR rate is 2.27%. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Graduate Student Loans Fixed Rates: Fixed rates range from 4.33% APR to 11.99% APR (with autopay). Variable Rates: Starting variable rates range from 2.93% to 11.57% APR (with autopay), and will never exceed 13.95% (sometimes lower in certain states as required by law). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin of between 0.86% and 9.76%. The current one-month LIBOR rate is 2.27%. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Parent Student Loans Fixed Rates: Fixed rates range from 5.05% APR to 11.71% APR (with autopay). Variable Rates: Starting variable rates range from 3.65% to 11.25% APR (with autopay), and will never exceed 13.95% (sometimes lower in certain states as required by law). For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin of between 1.58% and 9.98%. The current one-month LIBOR rate is 2.27%. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Autopay Discount. The SoFi 0.25% autopay interest rate reduction requires you to agree to make your scheduled monthly payments by an automatic monthly deduction (ACH) from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The discount will not reduce the monthly payment; instead, the interest savings are applied to the principal loan balance, which may help pay the loan down faster. Enrolling in autopay is not required to receive a loan from SoFi. Credit Pulls. To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi to show you what rates and terms you are pre-qualified for, subject to the verification of the information you have submitted as part of your application. After seeing your rates, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan and may impact your credit score. Unemployment Protection.If you lose your job through no fault of your own, you may apply for Unemployment Protection. If you qualify, SoFi will suspend your monthly SoFi loan payments and provide job placement assistance during your forbearance period. Interest will continue to accrue and will be added to your principal balance at the end of each forbearance period, to the extent permitted by applicable law. Benefits are offered in up to three month increments, and capped at 12 months, in aggregate, over the life of the loan. To be eligible for this assistance, you must provide proof that you have applied for and are eligible for unemployment compensation, and you must actively work with SoFi Career Services to look for new employment. If the loan is cosigned, the unemployment protection applies where both the borrower and cosigner lose their job and meet conditions. Learn more about SoFi’s Unemployment Protection here #what is sofis unemployment protection program. Negative Amortization. Interest begins accruing on the first disbursement date, but some repayment options do not require full principal or interest payments until the end of the deferment period. Any unpaid interest that has accrued and remains unpaid at the end of the deferment period will be added to the principal balance at the end of the deferment period. Thereafter, interest will accrue on this new principal balance. This is known as negative amortization. You can help avoid negative amortization by making extra payments on your loan during the deferment period. Check out our APR examples and terms. Still have questions? Our FAQs have answers. Important Information About Federal Repayment Options.SoFi Private Student Loans do not have the same repayment options that federal loan programs offer, such as Income-Based Repayment or Income-Contingent Repayment, or PAYE or REPAYE. In addition, federal student loans offer deferment and forbearance options that are not available for SoFi Lending Corp. Private Student Loan borrowers. Find out more about federal repayment options here.

Qualifications

• Typical credit score of approved borrowers or co-signers: Did not disclose for co-signed option. For non-co-signed option, Ascent emphasizes future earnings over income or credit score.
• Minimum income: $24,000 for co-signed option.
• Loan amounts: For co-signed option, $2,000 minimum to $200,000 over the lifetime of a borrower. The amount for each loan period cannot exceed the total cost of attendance. For non-co-signed option, $2,000 to total cost of attendance.
• Non-co-signed borrowers must maintain 2.5 GPA or higher.

Available Term Lengths

• 5, 10 or 15 for cosigned option or 10 or 15 for non-co-signed option

Disclaimer: 6 Ascent Student Loans are funded by Richland State Bank (RSB), Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentStudentLoans.com/Ts&Cs. Rates are effective as of 07/01/2019 and include a 0.25% discount applied when a borrower in repayment elects automatic debit payments via their personal checking account. For Ascent rates and repayment examples please visit: www.AscentStudentLoans.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details.

Qualifications

• MPOWER considers future income potential but does not factor in credit scores.
• Loan amounts: Minimum $2,001. Maximum loan is $50,000, limited to $25,000 per academic period.

Available Term Lengths

• 10 years

Qualifications

• Typical credit score of approved borrowers or co-signers: Did not disclose for co-signed option. For non-co-signed option, Ascent emphasizes future earnings over income or credit score.
• Minimum income: $24,000 for co-signed option.
• Loan amounts: For co-signed option, $2,000 minimum to $200,000 over the lifetime of a borrower. The amount for each loan period cannot exceed the total cost of attendance. For non-co-signed option, $2,000 to total cost of attendance.
• Non-co-signed borrowers must maintain 2.5 GPA or higher.

Available Term Lengths

• 5, 10 or 15 for cosigned option or 10 or 15 for non-co-signed option

Disclaimer: 6 Ascent Student Loans are funded by Richland State Bank (RSB), Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentStudentLoans.com/Ts&Cs. Rates are effective as of 07/01/2019 and include a 0.25% discount applied when a borrower in repayment elects automatic debit payments via their personal checking account. For Ascent rates and repayment examples please visit: www.AscentStudentLoans.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details.

Qualifications

• Typical credit score of approved borrowers: 660+.
• Minimum income: Did not disclose.
• Loan amounts: $1,000 up to your total cost of attendance, minus other financial aid.

Available Term Lengths

• 15 years

Disclaimer: The interest rate ranges represent the lowest interest rate offered on the Discover Undergraduate Loan and highest interest rates offered on Discover student loans, including Undergraduate, Graduate, Health Professions, Law and MBA Loans. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable Margin percentage. The margin is based on your credit evaluation at the time of application and does not change. For variable interest rate loans, the 3-Month LIBOR is 2.50% as of July 1, 2019. Discover Student Loans will adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the "interest rate change date"), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Please click here for more information about interest rates.

Qualifications

• Typical credit score of approved borrowers or co-signers: 748.
• Minimum income: Did not disclose.
• Loan amounts: $1,000 up to 100% of the school-certified expenses.

Available Term Lengths

• 5 to 15 years

Disclaimer: Lowest rates shown include the auto debit discount: Fixed 4.74% - 11.35% APR and Variable 3.37% - 10.75% APR. Interest rates for Fixed and Deferred Repayment Options are higher than interest rates for the Interest Repayment Option. You're charged interest starting at disbursement, while in school, during your separation/grace period, and until the loan is paid in full. The repayment option that is selected will apply during the in-school and separation/grace periods. When you enter principal and interest repayment, Unpaid Interest will be added to your loan's Current Principal. Variable rates may increase over the life of the loan. Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs are valid as of 08/02/2019 and assume a $10,000 loan to a freshman with no other Sallie Mae loans. Additional information regarding the auto debit discount: Borrower or cosigner must enroll in auto debit through Sallie Mae. The rate reduction benefit 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. This benefit may be suspended during periods of forbearance or deferment, if available for the loan Loan amounts: $1000 up to 100% of the school certified expenses: Loan amount cannot exceed the cost of attendance less financial aid received as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Repayment term of 5 to 15 years: This repayment example is based on a typical Smart Option Student Loan made to a freshman borrower who chooses a fixed rate and the Fixed Repayment Option for a $10,000 loan, with two disbursements, and a 8.44% fixed APR. It works out to 51 payments of $25.00, 119 payments of $156.04 and one payment of $118.97, for a Total Loan Cost of $19,962.73.

Qualifications

• Typical credit score of approved borrowers: Mid-700s.
• Minimum income: $35,000 per year.
• Loan amounts: $1,000 to $80,000.

Available Term Lengths

• 5, 8, 10 or 15 years

Disclaimer: College Ave Student Loans products are made available through either Firstrust 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. As certified by your school and less any other financial aid you might receive. Minimum $1,000. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation. 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. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. 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 7/1/2019. Variable interest rates may increase after consummation.

Qualifications

• Typical credit score of approved borrowers: 768.
• Minimum income: $40,000.
• Loan amounts: $1,500 to $45,000.

Available Term Lengths

• 10 or 15 years

Qualifications

• MPOWER considers future income potential but does not factor in credit scores.
• Loan amounts: Minimum $2,001. Maximum loan is $50,000, limited to $25,000 per academic period.

Available Term Lengths

• 10 years

Qualifications

• Typical credit score of approved borrowers: 768.
• Minimum income: $40,000.
• Loan amounts: $1,500 to $45,000.

Available Term Lengths

• 10 or 15 years

Qualifications

• Typical credit score of approved borrowers: Mid-700s.
• Minimum income: $35,000 per year.
• Loan amounts: $1,000 to $80,000.

Available Term Lengths

• 5, 8, 10 or 15 years

Disclaimer: College Ave Student Loans products are made available through either Firstrust 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. As certified by your school and less any other financial aid you might receive. Minimum $1,000. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation. 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. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. 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 7/1/2019. Variable interest rates may increase after consummation.