Types of Student Loans
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Credible Staff Updated April 3, Looking for the best private student loans? Credible simplifies student loan shopping by letting you compare rates from top lenders and find the best private student loans in minutes. Find Your Loan Today. The complete list of private student lenders below includes information on rates, terms, eligibility, and borrower benefits offered by each.
Unlike PLUS loans, there are no origination fees with many private school loans. While rates on government student loans are fixed for life, many private student lenders offer both variable- and fixed-rate loans. Some of the private student lenders below may also offer student loan refinancing.
Fixed-rate loans from 5. Variable-rate loans from 3. Up to percent of loan options for college cost of attendance minus other aid. Fixed-rate loans from 6. Variable-rate loans from 4. Your Loan options for college Education loan from Sallie Mae for undergraduates and grad students.
Undergraduate and grad school loans from participating credit unions nationwide. Up to the school-certified cost of attendance, minus any other financial aid awarded. Rates are competitive, determined by credit unions that are the lender of record Terms: Varies by credit union Eligibility:. Private student loans for undergraduates, grad school, law school, health professions, residency, and bar exams. Up to percent of school-certified cost of attendance including tuition, housing, and books minus other financial aid.
Maine Loan for undergraduate and grad students; Maine Medical Loan loan options for college medical school students Minimum loan amount: Fixed-rate loans for at 6.
Up to cost of attendance, less any financial aid. APRs factor in 3 percent loan options for college administration fee for fixed-rate loans. Fixed-rate loans ranging from 4. Variable-rate loans starting at 3. Determined by member organization Eligibility:.
MEFA loans for undergraduates and graduates Minimum loan amount: Cost of attendance tuition, fees, room, board, books, and miscellaneous expenses minus financial aid. Fixed-rate loans are 6. Initial rate on variable-rate loans is 3. Interest rates not tied to credit scoring. PAVE personal loan options for college Minimum loan amount: PNC Solution Loan for undergraduates, grad school students, medical school, residency, and bar exam preparation.
Initial rates on variable-rate loans from 3. Up to percent of school-certified cost of attendance minus other aid Rates: Variable-rate loans start at 2. Variable-rate loans start at 3. Palmetto Assistance Loan for undergraduate students and loan options for college students Minimum loan amount: Custom Choice Loan for undergraduate and graduate students Minimum loan amount: Initial rate for variable-rate loans 3.
Union Federal Private Student Loans funded by Sun TrustBank — details are same as SunTrust Custom Choice Loan, except borrowers who meet credit and income standards may apply for cosigner release after 36 monthly payments. Vermont Student Assistance Corp. Based on repayment plan. Immediate repayment full monthly payments starting with loan disbursement 4.
Fixed-rate loans for undergraduates from 5. Fixed-rate loans for undergraduates from 6. Check Your Rates Now. Just keep in mind that even if you defer your loans or opt to use your grace period, the interest on loan options for college loans will continue to accrue. The interest rate on your loan will depend on the type of loan that you have and when the funds were disbursed.
Once you take out a federal loan, the interest rate is fixed for life — to get a lower rate, you can refinance with a private lender. Your interest rate may also depend on your field of study, profession or lend provider. Graduate students tend to have a higher interest rate. Here you can find the average student loan interest rates on various types of federal loans here.
Federal loans for undergraduates generally have lower interest rates compared to private loans. However, private lenders offer loan options for college interest rate loans. Unlike fixed-rate loans, variable rates will fluctuate may fluctuate during the life of loan options for college loan. The federal government offers the Perkins Loan for students with exceptional financial need.
The loan guarantees low interest rates for both undergraduate and graduate students. According to the Federal Perkins Loan Program Extension Act ofstudents at participating schools who can demonstrate need will be able to receive Perkins loans through Sept. After that, schools will no longer be able to issue Perkins loans. The idea is that recent grads can take advantage of the grace period to find a job and set themselves up to be financially stable before having to begin paying off their loans.
Unfortunately, subsidized loans are only available to undergraduate students. Unlike loan options for college loans, unsubsidized student loans begin accruing interest from the very first day your loan is disbursed. Both undergraduate and graduate students are eligible to apply for a federal unsubsidized loan.
Students who need to cover additional expenses can consider PLUS loans. PLUS loans are loan options for college and are available for both parents of undergraduate students and graduate students. Borrowers can borrow as much in PLUS loans loan options for college they need to cover their educational costs, but will pay a hefty interest. Additionally, PLUS loans carry a 4. Credible is a multi-lender marketplace that allows borrowers to get personalized rates and find the best private student loans from vetted lenders, without affecting credit score.
Borrowers must be loan options for college at least half-time in a degree-granting program at an eligible institution. Borrowers must be a U.
For borrowers who have not attained the age of majority in their state of residence, a co-signer will be required. Citizens Bank reserves the loan options for college to modify or discontinue these benefits at any time. Any changes to loan options for college benefits will not affect loans issued prior to the change date. Rates subject to change. Variable interest rates range from 3.
Fixed interest rates range from 5. Lowest rates shown requires application with a co-signer, are for loan options for college applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.
Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken loan options for college the effective date of change. Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of the loan.
Citizens Bank Undergraduate Rate Disclosure: Citizens Bank Graduate Rate Disclosure: You will be presented with an Application Disclosure and an Approval Disclosure within the application process before you accept the terms and conditions of your loan. Need to finance your next semester?
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