Banks That Offer Student Loans
Few traditional banks offer student loans, but here are a few options if you want to apply for a private student loan through a bank.
Most traditional banks don't offer student loans, but a few do have private student loan programs. Student loans are more commonly available through online lenders that specialize in this type of financing. A student loan marketplace is also a way to apply to multiple lenders, including banks and credit unions, with a single application.
If you already use a lender on this list for other banking needs, it may offer you a lower interest rate. But compare that offer with rates from other lenders, and exhaust available federal loans before considering any private option.
» MORE: Private vs. federal student loans
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.
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.
Banks That Offer Student Loans
Lender | NerdWallet editorial rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
5.0 /5 | Mid-600s | 2.45-15.99% | 4.39-15.99% | Check Rate on SoFi®'s website | |
4.5 /5 | Mid-600s | 2.39-17.49% | 3.75-16.95% | Check Rate on Sallie Mae's website | |
4.0 /5 | Upper-600s | 2.87-13.84% | 3.71-14.48% | Check Rate on LendKey's website | |
4.0 /5 | Does not disclose | 3.24-15.49% | 4.99-15.51% | Read Review on NerdWallet |
Our pick for
Applying to an online lender
- Typical credit score of approved borrowers or co-signers: 700+.
- Minimum income: Did not disclose.
- Loan amounts: $1,000 minimum.
- 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 or co-signers: Does not disclose.
- Minimum income: Does not disclose.
- Loan amounts: $1,000 up to 100% of school-certified costs with no aggregate loan limit.
- Has loans for educational needs that aren’t always covered by other lenders.
- Offers a 0.25-percentage-point rate discount with automatic payments.
- Provides immediate loan decisions in most cases.
- Offers pre-qualification with a soft credit check.
- No application, origination or prepayment fees.
- Does not offer bi-weekly payments via autopay.
- Immediate principal and interest payment while in school isn’t an option.
- A six-month grace period for undergraduate loans is shorter than some other lenders.
Our pick for
Applying to multiple banks and credit unions
- Typical credit score of approved borrowers: Does not disclose.
- Minimum income: $24,000 annually.
- Loan amounts: $1,000 up to the cost of attendance.
- Enables borrowers to shop multiple lenders with one application.
- Retains servicing and support for the duration of the loan.
- Has a 0.25-percentage-point rate discount with automatic payments.
- Following the grace period, borrowers can request two years of interest-only payments.
- Doesn’t allow borrowers to pre-qualify with a soft credit check.
- Fully deferred payments are not an option.
- Has fewer loan terms than many other lenders.
Our pick for
Applying to a traditional bank
- Typical credit score of approved borrowers or co-signers: Does not disclose.
- Minimum income: Does not disclose.
- Loan amounts: From $1,000 to the cost of attendance minus other financial aid the borrower receives.
- Offers academic deferment for borrowers who return to school.
- Borrowers do not have to have a certain GPA to qualify for a loan.
- Offers undergraduate, graduate and parent loans.
- Loans discharged if the borrower dies or becomes permanently disabled.
- Does not offer flexible or nontraditional credit requirements such as on-time rent payments.
- Charges a late fee of 5% of the payment amount for payments not made within 15 days of the due date.
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, credit unions and online lenders 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. Private lenders typically want you to have a credit score above 670 and enough income to afford all your debts and expenses. They usually have additional requirements too.
Apply for your student loan. You’ll likely be able to complete the application process on the lender's website.
» MORE: How to get a student loan
Banks that refinance student loans
Some of the lenders we list on this page — SoFi, Citizens and LendKey — offer student loan refinancing. However, most national brick-and-mortar banks, such as Bank of America and JP Morgan Chase, don’t refinance student loans.
You may be eligible for a discount or lower rate by refinancing with your bank if you already have an account, but compare offers to ensure you're getting the lowest rate possible, even if that means straying from your current bank.
If you have existing student loans with a bank that no longer offers refinancing, you can get those loans refinanced through a different bank, credit union or online lender.
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.
If your local bank doesn’t have a student loan program, consider an online lender, which can offer quick preapproval and match other features you might value in a bank. For example, online lender SoFi offers a range of products beyond student loans, including mortgages and investment accounts.
Last updated on June 24, 2026
Frequently asked questions
Does Bank of America offer student loans?
No, Bank of America does not currently offer student loans. The bank ended its private student loan program in 2008. Some national banks, such as Citizens Bank, still offer student loans, but federal loans are only available from the government.
Does Chase Bank offer student loans?
Chase Bank no longer offers student loan services. The bank sold its student loan portfolio in 2017. Very few national banks still offer student loans.
Does PNC offer student loans?
No. PNC stopped offering student loans in late 2025.
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.
20
Lenders reviewed
20
Lenders reviewed
We reviewed 20 banks, credit unions and online lenders — including the top by market share and search volume — plus lenders serving niche and nontraditional borrowers.
10+
Categories designated
10+
Categories designated
Each lender is evaluated across weighted categories, covering dozens of features related to flexibility, affordability, availability, transparency and customer experience.
60+
Data points analyzed
60+
Data points analyzed
Our team tracks and reassesses more than 60 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 20 banks, credit unions and online lenders offering student loans and student loan refinancing. We included the top lenders by market share and 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.
Within weighted categories, we consider dozens of features and more than 60 data points for each financial institution. Depending on the category, these may include the availability of bi-weekly 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 Banks That Offer Student Loans
- SoFi®: Best for Applying to an online lender, Fixed APR: 2.45-15.99%
- Sallie Mae: Best for Applying to an online lender, Fixed APR: 2.39-17.49%
- LendKey: Best for Applying to multiple banks and credit unions, Fixed APR: 2.87-13.84%
- Citizens: Best for Applying to a traditional bank, Fixed APR: 3.24-15.49%