9 Best MBA Student Loans of 2025
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MBA students who need to finance part or all of their business school education can consider federal and private student loans. Federal loans are a safer choice because of their flexible repayment terms. Private MBA loans can make sense if you qualify for an interest rate that's lower than rates on government loans.
Here are our picks for the best MBA student loans and additional information on how to decide which is right for you.
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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.
Best MBA Student Loans
Lender | NerdWallet Rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
5.0 /5 | None | 6.53-8.08% | N/A | ||
5.0 /5 | None | 9.08-9.08% | N/A | ||
 Sallie Mae MBA Loan GO TO LENDER SITE on Sallie Mae's website COMPARE RATES on Credible’s website | 4.5 /5 | Mid-600's | 3.49-14.48% | 4.54-13.98% | GO TO LENDER SITE on Sallie Mae's website COMPARE RATES on Credible’s website |
 College Ave MBA Student Loan GO TO LENDER SITE on College Ave's website COMPARE RATES on Credible’s website | 5.0 /5 | Mid-600s | 3.47-14.49% | 4.44-14.49% | GO TO LENDER SITE on College Ave's website COMPARE RATES on Credible’s website |
 SoFi MBA Loan GO TO LENDER SITE on SoFi®'s website COMPARE RATES on Credible’s website | 5.0 /5 | Mid-600s | 3.54-14.83% | 4.64-15.86% | GO TO LENDER SITE on SoFi®'s website COMPARE RATES on Credible’s website |
Our pick for
All borrowers as a first option
Federal unsubsidized direct loans have fixed interest rates and minimal fees, but graduate students can only take out up to $20,500 annually — which may not cover all your MBA costs.
Federal Subsidized/Unsubsidized Loan
None
6.53-8.08%
N/A
- Key facts
Graduate students are ineligible for subsidized loans.
Pros- 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.
Cons- You pay an origination fee.
Qualifications- 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
Available Term Lengths10 to 25 years once repayment begins, depending on the repayment plan.
Our pick for
Borrowers who want to minimize risk
Federal loans have options private loans don’t, like income-driven repayment and Public Service Loan Forgiveness, which offer unique flexibility and protections if you’re entering an uncertain job market.
- Key facts
Graduate students can take out up to their cost of attendance, minus other aid received, in PLUS loans.
Pros- More flexible repayment options for struggling borrowers compared with private lenders.
- All borrowers who attend a school authorized to receive federal aid can qualify.
Cons- 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.
Qualifications- 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.
Available Term Lengths10 to 25 years once repayment begins, depending on the repayment plan.
Our pick for
Students getting an MBA part-time
Sallie Mae MBA Loan
Mid-600's
3.49-14.48%
4.54-13.98%
- Key facts
Rating and details displayed are for Sallie Mae’s private student loan. Sallie Mae MBA loans let you defer payments during an eligible internship for up to 48 months.
Pros- 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.
Cons- You can't see if you’ll qualify and what rate you’ll get without a hard credit check.
QualificationsAvailable Term Lengths10 to 20 yearsDisclaimerLowest rates shown include the auto debit. 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-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 4/17/2025.
College Ave MBA Student Loan
Mid-600s
3.47-14.49%
4.44-14.49%
- Key facts
College Ave MBA loans offer immediate, interest-only and flat payment plans, so you can minimize repayment costs while getting your degree.
Pros- 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.
Cons- You must be at least halfway through your repayment term before you can request a co-signer release.
Qualifications- 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.
Available Term Lengths5, 8, 10 or 15 yearsDisclaimerCollege 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 3/3/2025. 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.
Our pick for
Borrowers with excellent credit
SoFi MBA Loan
Mid-600s
3.54-14.83%
4.64-15.86%
- Key facts
Rating and details displayed are for SoFi's private student loan.
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.
QualificationsAvailable Term Lengths5, 7, 10, 15 years
Ascent MBA Student Loan
Low-Mid 600s
4.44-13.96%
6.80-14.26%
- Key factsBest for MBA students who want flexible payment options.Pros
- Among the best for payment flexibility.
- 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.
- Stands out for features that enable faster loan repayment.
Cons- You must be enrolled at least half-time to qualify.
Qualifications- Typical credit score of approved borrowers or co-signers: Not available.
- Minimum income: Not available.
- Loan amounts: up to $400,000.
Available Term Lengths7, 10, 12 or 15 yearsDisclaimerAscent’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 above are effective as of 5/1/2025 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples ( visit https://www.ascentfunding.com/annual-percentage-rate-apr-sample/) or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.
- Key facts
Rating and details displayed are for Earnest's private student loan.
Pros- Option to skip one payment every 12 months.
- No late fees.
- Nine-month grace period is longer than most lenders offer.
Cons- Loans aren't available in Nevada.
Qualifications- Typical credit score of approved borrowers: 758.
- Minimum income: $35,000.
- Loan amounts: $1,000 up to your total cost of attendance.
Available Term Lengths5, 7, 10, 12 or 15 yearsDisclaimerEarnest 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.
Our pick for
International MBA students
Many lenders — including Ascent, College Ave and Sallie Mae — offer MBA student loans to international students who have an eligible co-signer. Without a co-signer, choices for international MBA students are limited.
MPOWER Private Student Loan
None
12.99-15.99%
N/A
- Key factsBest for international students and students with Deferred Action for Childhood Arrivals, or DACA, status.Pros
- 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.
Cons- Payment required while in school.
- Offers only one repayment term: 10 years.
Qualifications- 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.
Available Term Lengths10 yearsDisclaimerNote: Our loan does not support Canadian citizens studying in Canada. Canadian Permanent Residents and U.S. citizens are considered “international” when studying in Canada. International students, U.S. citizens, U.S. permanent residents, and DACA recipients in the U.S. or Canada. ‘International’ means you are a non-U.S. citizen or U.S. non-permanent resident studying at a university in the U.S., or you are a non-Canadian citizen or Canadian non-permanent resident studying at a university in Canada. ‘DACA’ means the Deferred Action For Childhood Arrivals Program initiated by the U.S. Department of Homeland Security in 2012. In order to qualify as a DACA Student, you must have applied for, and been granted, DACA status by USCIS. As a graduate student, you can borrow with a fixed interest rate of 12.99% (13.98% APR¹). This is the maximum rate and will not increase. However, MPOWER offers borrowers a way to qualify for a discount; a 0.25% rate discount is possible by making your loan payments through automatic withdrawal from your bank account. If you qualify for this discount, your rate will be 12.74% (13.72% APR²). ¹[International graduate student with regular interest rate] The APR is calculated using the following assumptions: A loan is approved in the amount of US$10,000 with a 5% origination fee of US$500. The student will start making payments 45 days after loan disbursement. Payments will be interest only until graduation, plus an additional 6-month grace period. The remaining months of repayment are calculated using a 120-month amortization schedule. All payments are made on-time, a forbearance is never utilized, and there is no pre-payment of any principal. At an APR of 13.98%, the monthly payment amount is US$113.66 for the first 30 months. For the next 120 months, the monthly payment amount is about $156.71. ²[International graduate student with discounted interest rate] The APRs with discounts are calculated using the following assumptions: A loan is approved in the amount of $10,000 with a 5% origination fee of US$500. The student will start making payments 45 days after loan disbursement. The borrower signs up for automatic debit immediately after the loan is disbursed and remains on it for the life of the loan, which reduces the rate by 0.25%. At an APR of 13.72%, the monthly payment is US$111.47 for the first 30 months. For the last 120 payments, the monthly amount is US$155.17. Undergraduate Students in the U.S. or Canada As an undergraduate student, you can borrow with a fixed interest rate of 13.99% (15.01% APR³). This is the maximum rate and will never increase. However, MPOWER offers borrowers a way to qualify for a discount; a 0.25% rate discount is possible by making your loan payments through automatic withdrawal from your bank account. If you qualify for this discount, your rate will be 13.74% (14.75% APR⁴). ³[International undergraduate student with regular interest rate] The APR is calculated using the following assumptions: A loan is approved in the amount of $10,000 with a 5% origination fee of $500. The student will start making payments 45 days after loan disbursement. Payments will be interest only until graduation plus an additional 6-month grace period. The remaining months of repayment are calculated using a 120-month amortization schedule. All payments are made on-time, a forbearance is never utilized, and there is no pre-payment of any principal. At an APR of 15.01%, the monthly payment amount is $122.41 for the first 30 months. For the next 120 months, the monthly payment amount is $162.97. ⁴[International undergraduate student with discounted interest rate] The APRs with discounts are calculated using the following assumptions: A loan is approved in the amount of US$10,000 with a 5% origination fee of US$500. The student will start making payments 45 days after loan disbursement. The borrower signs up for automatic debit immediately after the loan is disbursed and remains on it for the life of the loan, which reduces the rate by 0.25%. A forbearance is never utilized and there is no prepayment of any principal. At an APR of 14.75%, the monthly payment is US$120.22 for the first 30 payments. For the last 120 payments, the monthly amount is US$161.39.
Our pick for
Borrowers from Texas
Brazos Private Student Loan
680
2.71-7.38%
4.36-5.60%
- Key factsBrazos private student loans are best for borrowers from Texas and students attending school in Texas who are from qualifying states.Pros
- May offer lower rates for graduate students than what are available through the federal government.
- Applies extra payments to the loan principal by default.
- Offers five loan terms, which is more than most lenders.
Cons- Not available to borrowers enrolled in two year programs at community colleges.
- Biweekly payments via autopay is not available.
Available Term Lengths5, 7, 10, 15 or 20 years
What is an MBA student loan?
MBA student loans are for graduate students in a degree-granting master of business administration program. The average MBA costs more than $230,000, according to a 2023 BusinessBecause report, an online news publication for graduate and business school candidates.
All students should exhaust free aid like fellowships and employer sponsorships before choosing a loan. If you need to borrow money to pay for your MBA, federal loans are the first best choice. Students with solid credit and income may receive lower interest rates with a private loan.
Interest rates can be fixed or variable. Fixed interest means the rate — and your payments — will stay the same over the life of the loan. Variable interest rates may fluctuate throughout the loan term, causing payments to rise or fall.
» MORE: How much does an MBA cost?
Types of student loans for an MBA
There are federal and private student loan options to help pay for an MBA. Federal student loans are funded by the government, whereas private student loans originate from banks, credit unions and state organizations. Federal and private student loans differ from one another in interest rates, repayment terms, loan forgiveness programs and other criteria like credit history requirements.
Federal student loans for MBA
MBA students can apply for direct unsubsidized loans or grad PLUS loans. Direct unsubsidized loans are available for undergraduate and graduate students enrolled at least half-time in an eligible school. Unsubsidized loans for graduate students do not require applicants to show financial need. You can take out up to $20,500 annually in unsubsidized loans.
Eligibility for grad PLUS loans include being, at minimum, a half-time graduate student in an approved school. Your credit will be checked during the application process; if you have an adverse credit history, you may need an endorser to apply with you. The maximum loan amount is based on your cost of attendance, as determined by your school, minus other financial aid you get.
Private student loans for MBA
Some lenders offer private student loans specifically for MBA students, as well as international MBA students. MBA loans may or may not have different features than graduate student loans; opt for the loan with the best terms for you.
Which MBA student loan is right for you?
Look at your finances and repayment goals, then use the steps below to help you choose a federal or private student loan to pay for an MBA:
Generally, max out federal direct unsubsidized loans first. These loans have small fees — roughly 1% — and fixed interest rates. While federal loan rates may be higher than rates on private loans, the additional cost may be worth the benefits that come with federal loans, including various repayment options and potential forgiveness.
Then, look at your career trajectory. If unsubsidized loans won’t cover all your costs — the average MBA student debt is $66,740, according to recent data from the National Center for Education Statistics — you can fill any remaining gap with federal grad PLUS loans or private loans. PLUS loans make sense if you want to work for a nonprofit, are changing careers or simply aren’t sure about your job prospects. Options like Public Service Loan Forgiveness and income-driven repayment plans can help in these instances.
Or evaluate your current situation. Compare private MBA loan interest rates if you have strong credit and you expect your income to increase or at least remain consistent over the loan term. You may feel OK taking on the risk of private loans to save on interest or overall costs.
Not sure which situation describes you? Stick with federal loans. You can always refinance MBA loans with a private lender at a lower rate if your plans come into focus later.
What to look for in a private MBA loan
If a private MBA loan makes sense for you, look for the following features to ensure it meets your education and repayment goals:
You can qualify. Some private lenders provide MBA loans only to certain schools or programs. Make sure your school is eligible before applying with a lender.
Low interest rates and fees. Compare rates and fees from multiple lenders to get the lowest cost possible.
Flexible repayment options. If you want to pay off loans fast, choose a lender that offers five- or seven-year repayment terms. Also, ensure the lender offers flexible repayment options in case of hardship.
How to apply for an MBA student loan
Use the following steps to guide you through the process of obtaining MBA student loans:
Complete the FAFSA. Whether you’re considering direct unsubsidized or grad PLUS loans, fill out the Free Application for Federal Student Aid, or FAFSA.
Finish loan-specific paperwork. For unsubsidized loans, your school will use the information you provided on the FAFSA to determine financial aid eligibility. If applying for a grad PLUS loan, you’ll need to also complete the Direct PLUS Loan Application at studentaid.gov.
Supplement with private loans. If free financial aid, employer sponsorships and federal loans do not provide enough funding to pursue your MBA, consider filling in gaps with private MBA loans.
STUDENT LOAN RATINGS METHODOLOGY
Our survey of more than 26 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 January 6, 2025
Frequently asked questions
Business school students can qualify for federal unsubsidized loans, as well as federal graduate PLUS loans. You can also borrow private student loans to pay for an MBA.
Filling out the FAFSA is the first step in obtaining federal financial aid and should be completed before taking any other steps.
The average business school graduate owes more than $66,740 in student loans, and about 58% of MBAs take out student loans, according to the National Center for Education Statistics.
Federal loans are usually your best bet. But you may want to consider a private MBA loan if your credit is excellent and you’re assured of a job with a strong income once you finish your program.
NerdWallet's Best MBA Student Loans of 2025
- Federal Subsidized/Unsubsidized Loan: Best for All borrowers as a first option
- Federal Grad PLUS Loan: Best for Borrowers who want to minimize risk
- Sallie Mae MBA Loan: Best for Students getting an MBA part-time
- College Ave MBA Student Loan: Best for Students getting an MBA part-time
- SoFi MBA Loan: Best for Borrowers with excellent credit
- Ascent MBA Student Loan: Best for Borrowers with excellent credit
- Earnest MBA Loan: Best for Borrowers with excellent credit
- MPOWER Private Student Loan: Best for International MBA students
- Brazos Private Student Loan: Best for Borrowers from Texas
