Best Private Student Loans in 2026
To create NerdWallet's list of top-ranked private student loans, we surveyed dozens of lenders about their products. Then we ran those loans through a comprehensive scoring system that considers rates, repayment options, borrower protections and more. See our full methodology at the bottom of the page.
While we worked hard to identify the best private student loans, before you apply for any, exhaust all federal student loans and other financial aid you can get. (Start by filling out the Free Application for Federal Student Aid, or FAFSA, to qualify for federal student loans and need-based grants and scholarships.)
Federal student loans offer valuable borrower protections, affordable income-driven repayment plans and forgiveness programs that private lenders don’t.
» Learn: Federal vs. private student loans
If you still have remaining education costs, look for a private student loan. Compare your options below, where we show each loan’s rating, interest rates and minimum credit score needed.
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.
Best Private Student Loans in 2026
Lender | NerdWallet editorial rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
Best for payment flexibility 5.0 /5 | Mid-600s | 2.74-17.99% | 3.89-17.99% | Check Rate on College Ave's website | |
4.5 /5 | Mid-600's | 2.89-17.49% | 3.87-16.50% | Check Rate from Sallie Mae | |
Best for customer support and wide availability 5.0 /5 | Low-Mid 600s | 2.69-15.31% | 3.99-15.40% | Compare Rates on Credible’s website | |
5.0 /5 | Mid-600s | 3.18-15.99% | 4.39-15.99% | Check Rate on SoFi®'s website | |
5.0 /5 | 650 | 2.79-16.49% | 4.99-16.85% | Check Rate on Earnest's website |
Our pick for
Private student loan
- Typical credit score of approved borrowers: Mid-700s.
- Minimum income: $35,000 per year.
- Loan amounts: $1,000 up to cost of attendance.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- More flexible repayment options than other lenders.
- Six-month grace period extension is available.
- You must be at least halfway through your repayment term before you can request a co-signer release.
College Ave Student Loans is an online lender that offers student loans for undergraduates, graduate students and parents, plus student loan refinancing.
- Typical credit score of approved borrowers or co-signers: Does not disclose.
- Minimum income: Did not disclose.
- Loan amounts: $1,000 up to 100% of the school-certified expenses.
- One of the few lenders to provide loans to part-time students.
- Non-U.S. citizens, including DACA students, who live in the U.S. and attend school in the U.S. can apply with a qualified co-signer who is a U.S. citizen or permanent resident.
- 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: Did not disclose.
- Minimum income: $0 for primary borrower. $24,000 for current and previous year for co-signer.
- Loan amounts: $2,001 to $200,000 per year with an aggregate loan limit of $200,000.
- Among the best for payment flexibility.
- 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.
- Students enrolled less than half-time are not eligible.
- Co-signer release not available to international students.
Online lender Ascent offers two private student loan products, one for borrowers who have a co-signer and one for independent students who don't have a co-signer or established credit.
- 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: 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 or co-signers: Not available.
- Minimum income: $35,000.
- Loan amounts: $1,000 up to your total cost of attendance.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- You are assigned a student loan advisor.
- No co-signer release available.
- Typical credit score of approved borrowers: 748.
- Minimum income: $24,000 per year.
- Loan amounts: $1,000 up to cost of attendance, minus other aid received.
- Forbearance of 18 months is longer than many lenders offer.
- You can’t see if you’ll qualify and what rate you’ll get without a hard credit check.
- Payment required while in school.
- 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.
- Minimum income: No minimum, but borrowers must demonstrate they can pay $20 per month toward their loan.
- Loan amounts: $3,001 up to $20,000.
- You don't need a co-signer or credit to get a loan.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Loans aren't available in 10 states.
- Payment required while in school.
Our pick for
Graduate school
- 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.
- 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.
Our pick for
State-based student loan
- 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.
- 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.
Our pick for
No co-signer
- Typical credit score of approved borrowers: Did not disclose.
- Minimum income: $30,000 per year for credit-based loan. No minimum for future-income based loan.
- Loan amounts: $2,001 to $200,000 per year with an aggregate loan limit of $200,000 for credit-based loan. $2,001 to $20,000 per year for future-income based loan.
- Among the best for payment flexibility.
- Grace period of 9 months is longer than most lenders.
- International students are not eligible.
- Freshmen, sophomores and those enrolled less than half-time are not eligible for the Outcomes-based loan.
- Minimum income: No minimum, but borrowers must demonstrate they can pay $20 per month toward their loan.
- Loan amounts: $3,001 up to $20,000.
- You don't need a co-signer or credit to get a loan.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Loans aren't available in 10 states.
- Payment required while in school.
Our pick for
International students
- 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
Part-time students
- Typical credit score of approved borrowers: Mid-700s.
- Minimum income: $35,000 per year.
- Loan amounts: $1,000 up to cost of attendance.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- More flexible repayment options than other lenders.
- Six-month grace period extension is available.
- You must be at least halfway through your repayment term before you can request a co-signer release.
- Best for borrowers looking for a loan with flexible repayment plans and a long grace period.
- Students enrolled less than half-time are eligible, a feature not offered by many other lenders.
- Offers a .05% rate reduction for every six months of consecutive payments, up to 0.25%.
- Provides In-School Default Protection for borrowers making interest or partial interest payments while enrolled.
- Not available in WV.
Our pick for
Parent loan
- Offers loans to parents with students who are enrolled less than half-time.
- Allows bi-weekly payments via autopay.
- No co-signer option.
- The parent or borrower’s estate still has to cover loan payments if the parent borrower dies.
- 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.
How do I choose a private student loan?
1. Compare loan offers. Check options from multiple lenders including banks, credit unions, online companies and state-based lenders to find the lowest interest rate.
2. Decide on fixed or variable rate. Depending on the lender, you may be able to choose a fixed or a variable interest rate. A fixed rate stays the same throughout the life of a loan; a variable rate may start out lower than a fixed rate, but could increase or decrease over time depending on economic conditions.
3. Choose a loan term. You may also have the option to choose your loan term. A short term gives you higher monthly payments, but also faster repayment and less total interest costs. A longer term allows you to pay less each month, but you'll pay more interest over a longer period of time.
4. Consider borrower protections. A private lender may offer deferment, forbearance or another temporary repayment adjustment if you can’t afford your payments.
How do I apply for a private student loan?
Once you've chosen a lender that seems like a strong fit, follow these steps to apply for a private student loan.
1. Gather your documents. Be prepared to show proof of identity, citizenship and income. Also gather information about your college, including the cost of attendance or the financial aid award letter.
2. Understand the requirements. You or your co-signer will need to have credit scores in the high 600s or higher, as well as cash flow to make loan payments. Lenders will also look at your or your co-signer’s debt-to-income ratio to make sure you have the funds to pay a student loan bill in addition to any other bills in your name.
3. Submit your application. Apply directly through the lender’s website or through one of the green buttons in our list above. Carefully review the loan terms again — including fees and repayment options — before signing.
» MORE: How to get a student loan
Last updated on January 12, 2026
Frequently asked questions
How do private student loans and federal student loans differ?
Federal student loans are issued by the government and have fixed interest rates and origination fees. These loans offer protections like income-driven repayment plans and forgiveness programs.
Private student loans come from banks, credit unions or online lenders. They may have fixed or variable interest rates, depending on your credit. Most don’t charge origination fees and lack the borrower protections that come with federal loans.
When should I consider a private student loan?
Private student loans can be a good option if you still have education costs after taking federal grants and other aid, and you’ve already borrowed the maximum in both subsidized and unsubsidized federal student loans.
How do I qualify for a private student loan?
To qualify, you or a co-signer will likely need a good credit score and steady income, and higher numbers tend to get better rates and loan amounts.
Since undergrads often lack credit or income, lenders usually require a co-signer. Some may instead consider academic performance and income potential.
Most lenders also require enrollment at a Title IV school, and availability can vary by state.
Can I get a private student loan with bad credit?
You’ll have a harder time finding a private student loan if you have bad credit. Federal student loans don’t require borrowers to demonstrate creditworthiness, so they’ll be your best option if you have bad credit.
If you’ve already hit your limit on federal loans, you may be able to get a private student loan if you apply with a co-signer who has solid credit — typically scores in the high 600s or better. (See the best student loans for bad credit or no credit.)
Will I need a co-signer for a private student loan?
If you have no income and no credit or bad credit, you’ll need a co-signer to get a private student loan. Without bills in your name, such as a credit card, car loan or utility, it's hard to demonstrate that you can pay bills on time. Your co-signer will need a steady income and good credit scores. A co-signer is responsible for repaying the loan if you fail to make payments.
Some private lenders will let students apply without a co-signer. Instead of basing your loan offer on your credit, they look at your academic performance and earning potential to determine your ability to pay back the debt. (See how to get a student loan without co-signer.)
How much can I borrow for college?
With private loans, the amount you borrow can’t exceed your school’s total cost of attendance, less other financial aid. (The maximum in federal student loans you can borrow depends on your year in school, whether you’re a dependent or independent student and the type of loan.)
A 2025 high school graduate who will depend on student loans to pay for college can expect to borrow about $40,000 for their bachelor’s degree, according to a recent NerdWallet analysis.
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 Private Student Loans in 2026
- College Ave Private Student Loan: Best for Private student loan + Part-time students, Fixed APR: 2.74-17.99%
- Sallie Mae Undergraduate Student Loan: Best for Private student loan, Fixed APR: 2.89-17.49%
- Ascent Credit-based Student Loan: Best for Private student loan, Fixed APR: 2.69-15.31%
- SoFi Undergraduate Student Loan: Best for Private student loan, Fixed APR: 3.18-15.99%
- Earnest Undergraduate Loan: Best for Private student loan, Fixed APR: 2.79-16.49%
- ELFI Private Student Loan: Best for Private student loan, Fixed APR: 2.99-14.22%
- LendKey Private Student Loan: Best for Private student loan, Fixed APR: 3.99-12.61%
- Custom Choice Loan®: Best for Private student loan, Fixed APR: 2.85-15.61%
- Funding U Private Student Loan: Best for Private student loan + No co-signer, Fixed APR: 7.95-12.49%
- College Ave Graduate Student Loan: Best for Graduate school, Fixed APR: 2.74-15.99%
- Advantage Education Private Student Loan: Best for State-based student loan, Fixed APR: 5.29-8.04%
- RISLA Private Student Loan: Best for State-based student loan, Fixed APR: 2.99-8.74%
- Ascent Non-Cosigned Student Loan: Best for No co-signer, Fixed APR: 12.90-15.08%
- MPOWER Private Student Loan: Best for International students, Fixed APR: 12.99-15.99%
- Abe: Best for Part-time students, Fixed APR: 2.85-15.61%
- Ascent Parent Loan: Best for Parent loan, Fixed APR: 5.00-15.26%
- Earnest Parent Loan: Best for Parent loan, Fixed APR: 2.89-14.90%
- Ascent Graduate and Health Professions Student Loan: Best for Graduate school, Fixed APR: 3.49-15.31%