11 Best Graduate School Loans of January 2026
The federal government and private lenders offer graduate student loans. Max out federal unsubsidized loans — likely the cheapest option — before covering your remaining costs with federal grad PLUS loans or private student loans.
Here are our picks for the best loans for graduate school, as well as information on how to choose and apply for graduate loans.
» MORE: Other ways to pay for grad school
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Why trust NerdWallet
- 19 student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and consumer lending.
- Objective, comprehensive star-rating system assessing 40 categories and more than 50 data points across student loan origination and student loan refinance.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Best Graduate School Loans
Lender | NerdWallet editorial rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
5.0 /5 | Mid-600s | 2.74-15.99% | 3.89-15.99% | Check Rate on College Ave's website | |
4.5 /5 | Mid-600's | 2.89-14.99% | 3.87-13.50% | Check Rate on Sallie Mae's website | |
 Ascent Graduate and Health Professions Student Loan Compare Rates on Credible’s website | Best for customer support and wide availability 5.0 /5 | Low-Mid 600s | 3.49-15.31% | 4.69-15.40% | Compare Rates on Credible’s website |
5.0 /5 | Mid-600s | 3.18-14.83% | 4.39-15.86% | Check Rate on SoFi®'s website | |
4.5 /5 | 680 | 2.99-8.74% | N/A | Read Review on NerdWallet |
Our pick for
Borrowers with good credit or a co-signer
- Typical credit score of approved borrowers: Mid-700s.
- Minimum income: $35,000 per year.
- Loan amounts: $1,000 up to the total cost of attendance.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- International students can qualify with a co-signer.
- Nine-month grace period is longer than other lenders offer.
- You must be at least halfway through your repayment term before you can request a co-signer release.
- One of the few lenders to provide loans to part-time students.
- Non-U.S. citizens, including DACA students, can apply with a U.S. co-signer.
- You can't see if you’ll qualify and what rate you’ll get without a hard credit check.
- Typical credit score of approved borrowers or co-signers: Not available.
- Minimum income: Not available.
- Loan amounts: up to $400,000.
- Forbearance of 24 months is longer than many lenders offer.
- Grace period of 9 months is longer than many lenders offer.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- You must be enrolled at least half-time to qualify.
- 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.
- Does not offer bi-weekly payments via autopay.
- Typical credit score of approved borrowers: 768.
- Minimum income: $40,000.
- Loan amounts: $1,500 to $45,000.
- Income-based repayment plan available, with forgiveness after 25 years.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Partial loan forgiveness for eligible internships; interest forgiveness for qualifying nurses.
- Fewer repayment terms available than other lenders.
- Typical credit score of approved borrowers: 700 for a non-cosigned loan and 733 for co-signed loans.
- Minimum income: No minimum, but borrowers must demonstrate positive income.
- Loan amounts: $1,000 minimum loan amount with an aggregate student loan limit (total amount of outstanding student loan debt) of $225,000.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- No late fees.
- Principal reduction of 2% if you graduate.
- Stands out for features that enable faster loan repayment.
- Doesn't apply extra payments to the principal balance by default.
- Typical credit score of approved borrowers: 758.
- Minimum income: $35,000.
- Loan amounts: $1,000 up to your total cost of attendance.
- Option to skip one payment every 12 months.
- No late fees.
- Nine-month grace period is longer than most lenders offer.
- Loans aren't available in Nevada.
- Typical credit score of approved borrowers: Does not disclose.
- Minimum income: Does not disclose.
- Loan amounts: Minimum $1,000. Maximum depends on creditworthiness and debt-to-income ratio.
- Forbearance of 24 months is twice as long as most lenders.
- Loans are available if you’re enrolled less than half time.
- Fewer repayment terms than other lenders offer.
- Borrowers are not able to defer loans if they return to school after their grace period ends.
Our pick for
International borrowers without credit or a co-signer
International students don't qualify for federal aid and have fewer private options without a co-signer who's a U.S. citizen.
- MPOWER considers future income potential but does not factor in credit scores.
- Loan amounts: Minimum $2,001. Maximum loan is $100,000, limited to $50,000 per academic period.
- Offers a hard-to-find option: non-co-signed student loans for international and DACA students.
- Borrowers are assigned a dedicated student loan advisor.
- Borrowers can request forbearance of up to 24 months, which is longer than many lenders offer.
- Payment required while in school.
- Offers only one repayment term: 10 years.
Our pick for
Borrowers without credit or a co-signer
Graduate PLUS loan interest rates aren't based on your credit score: All eligible borrowers receive the same fixed rate.
- Grad PLUS loan borrowers must not have adverse credit history.
- Borrowers with adverse credit history can still receive a grad PLUS loan by enlisting a co-signer without adverse credit history or documenting extenuating circumstances for their credit history.
- Loan amounts: Total cost of attendance minus other financial aid.
- More flexible repayment options for struggling borrowers compared with private lenders.
- All borrowers who attend a school authorized to receive federal aid can qualify.
- May have higher interest rates compared with private lenders.
- You pay an origination fee.
- You can’t see if you’ll qualify without a hard credit check.
Our pick for
All borrowers as a first option
Graduate students can take out up to $20,500 annually in unsubsidized federal student loans.
- No credit check or minimum income is needed to borrow.
- Loan amounts for undergraduates: $5,500 year one, $6,500 year two, $7,500 year three and thereafter, up to a total of $31,000
- Independent students and graduate students have higher loan limits.
- Undergraduate interest rate fixed at 3.73%, while grad students get higher 5.28% rate
- More flexible repayment options for struggling borrowers than other lenders.
- Subsidized loans do not collect interest while in school or during deferment.
- Lower interest rates than many private lenders.
- You pay an origination fee.
Graduate school borrowers qualify for unsubsidized student loans only.
How to find the best graduate student loans
If you need loans to pay for graduate school, the best option will likely be federal student loans. Federal loans don't require good credit, and they offer benefits that private graduate school loans may lack, including income-driven repayment plans, loan forgiveness programs and multiple repayment options.
Those benefits can be especially helpful, depending on how much you owe. The average student loan debt for graduate school is $77,300, according to the National Center for Education Statistics.
Whether you opt for federal or private loans, most lenders won't require you to pay student loans while in graduate school, provided you're enrolled at least half-time. But depending on how much you get paid as a graduate student, making payments can save you money because graduate school loans accrue interest, even while you’re in school.
What to know about federal graduate student loans
Borrowers are eligible for two types of federal loans for graduate school: unsubsidized direct loans and grad PLUS loans. Certain graduate students may also be eligible for a federal health professions student loan.
Federal direct unsubsidized loans
Federal direct unsubsidized loans are available for undergraduate and graduate students, and you don’t need to demonstrate financial need to be eligible. Grad students can borrow $20,500 annually ($138,500 total, including undergraduate loans) at a fixed interest rate of 7.94% with a loan fee of 1.057%.
Federal direct grad PLUS loans
Federal grad PLUS loans have higher interest rates (8.94%) and fees (above 4%) than direct unsubsidized loans, but you can borrow more money — up to your total cost of attendance, minus other aid received.
Use grad PLUS loans if you’ve maxed out your federal direct unsubsidized loans at lower interest rates and still want to use federal loans to pay for graduate school.
Grad students with direct unsubsidized or PLUS loans who go on to work at a nonprofit or governmental organization may be eligible for loan forgiveness after 120 qualifying monthly payments through Public Service Loan Forgiveness.
» MORE: Public Service Loan Forgiveness: What it is, how it works
Can graduate students get subsidized loans?
Direct subsidized loans help undergraduate students with financial need obtain better borrowing terms, but subsidized loans for graduate school are no longer offered.
» MORE: Financial aid for graduate school
What to know about private graduate student loans
There is no shortage of private student loan options for graduate students. You may even pay less with a private graduate school loan than a federal loan if you or a co-signer has excellent credit and qualify for a low rate.
Compare private student loans
Before committing to a private student loan, compare interest rates and consider whether other factors, such as your field of study or career choices, could impact your borrowing capabilities.
It's best to check rates from multiple lenders before applying to ensure you get the best rate possible. Additional items to compare across lenders include:
Type of interest rate: variable or fixed.
Credit score and co-signer requirements.
Fees, including application, processing and late fees.
Repayment plans.
Grace period.
Default terms.
Degree-specific graduate student loans
Many lenders have specific graduate student loan products based on the degree you're pursuing. Here is a list of degree-specific graduate loans, ranging from medical to law school:
Graduate student loans for international students
Getting a student loan as an international student is more challenging because many private lenders require applicants to have a U.S. citizen as a co-signer. However, there are some options for graduate student loans without a co-signer. Without a co-signer, you will most likely be evaluated by your future income and academic performance rather than your current financial situation.
» MORE: International student loans
How to get loans for graduate school
Follow these steps to apply for a graduate student loan:
1. Complete the FAFSA
You can apply for federal loans for graduate school by completing the Free Application for Federal Student Aid, or FAFSA. This is a necessary step for both direct unsubsidized and PLUS loans.
2. Review and complete loan-specific paperwork
If applying for a direct unsubsidized loan, your school will use the information from your FAFSA to prepare a financial aid package that includes a direct loan. You will receive a FAFSA submission summary detailing eligibility for federal loans.
For grad PLUS loans, you will need to complete a Direct PLUS Loan Application at studentaid.gov after completing the FAFSA. Note that the Department of Education will check your credit during the application process for PLUS loans, and an adverse credit history may limit your eligibility.
3. Supplement with private loans
If you’ve exhausted federal loan options, consider applying for private graduate student loans after researching and comparing interest rates and terms from multiple lenders such as banks, credit unions and online companies.
Last updated on January 12, 2026
Frequently asked questions
What is the best student loan for graduate school?
Most students should max out federal student loans for graduate school before considering other options. But if you have excellent credit and qualify for a lower rate on a private student loan, that may be cheaper in the long run.
How much can graduate students borrow in student loans?
Grad students can get up to $20,500 annually and $138,500 overall in unsubsidized federal loans. Federal PLUS loans and private loans can cover up to your cost of attendance minus other aid received.
How do grad PLUS loans differ from other federal loans?
Interest rates and loan fees are higher with grad PLUS loans. But you can also borrow more with these loans — up to your cost of attendance — compared to other federal options.
How do I get graduate school loans?
Complete the FAFSA to qualify for all federal aid, including unsubsidized loans and graduate PLUS loans. If you want a private student loan for grad school, apply directly with the lender.
How we chose the best student loans
Our team of student loan experts follows an objective and robust methodology to rate lenders and pick the best.
19
Lenders reviewed
19
Lenders reviewed
We reviewed 19 banks, credit unions, and online lenders — including the top 10 by market share and search volume — plus lenders serving niche and nontraditional borrowers.
40
Features assessed
40
Features assessed
Each lender is evaluated across five weighted categories, covering dozens of features related to affordability, eligibility, consumer experience, flexibility, and application process.
50+
Data points analyzed
50+
Data points analyzed
Our team tracks and reassesses more than 50 data points annually, including APR ranges, fees, credit requirements, and borrower tools, ensuring up to date, accurate comparisons.
Star rating categories
We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
5.0
Overall score
NerdWallet reviewed 19 banks, credit unions and online lenders offering student loans and student loan refinancing. We included the top 10 lenders by market share and the top 10 lenders by online search volume, as well as lenders that serve specialty or nontraditional markets. Some lenders are NerdWallet partners, but this did not influence our selection of the winner.
We consider 40 features and more than 50 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 a wide range of 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.
NerdWallet's Best Graduate School Loans of January 2026
- College Ave Graduate Student Loan: Best for Borrowers with good credit or a co-signer, Fixed APR: 2.74-15.99%
- Sallie Mae Graduate Student Loan: Best for Borrowers with good credit or a co-signer, Fixed APR: 2.89-14.99%
- Ascent Graduate and Health Professions Student Loan: Best for Borrowers with good credit or a co-signer, Fixed APR: 3.49-15.31%
- SoFi Graduate Student Loan: Best for Borrowers with good credit or a co-signer, Fixed APR: 3.18-14.83%
- RISLA Private Student Loan: Best for Borrowers with good credit or a co-signer, Fixed APR: 2.99-8.74%
- Custom Choice Loan®: Best for Borrowers with good credit or a co-signer, Fixed APR: 2.85-15.61%
- Earnest Graduate Loan: Best for Borrowers with good credit or a co-signer, Fixed APR: 2.79-14.30%
- MPOWER Private Student Loan: Best for International borrowers without credit or a co-signer, Fixed APR: 12.99-15.99%
- Advantage Education Private Student Loan: Best for Borrowers with good credit or a co-signer, Fixed APR: 5.29-8.04%
- Federal Grad PLUS Loan: Best for Borrowers without credit or a co-signer, Fixed APR: 8.94-8.94%
- Federal Subsidized/Unsubsidized Loan: Best for All borrowers as a first option, Fixed APR: 6.39-7.94%