Find The Best Private Student and Parent Loans Of 2024

How to Use the Information in Our Comparison Table of Private Student Loan Lenders

When you’re comparing private student loan lenders, look for and ask about these features:


Interest on a loan is the amount someone pays to use the money they’re borrowing. The interest rates on private student loans may be more than those for some federal loans. To get the lowest rate on a private loan you’ll need a very strong credit rating. Variable rates may change over time. Fixed rates remain the same for the life of the loan.


A cosigner on a student loan may, at some point, want to be released from the loan agreement. That release is known as a cosigner release. Terms for what’s required to earn this release vary by lender. It’s important to ask what the release terms are and compare them among lenders.


Different lenders offer different repayment options. These are the most common:

  • deferring all payments while in college (full deferment)
  • paying only interest while in college (interest-only repayment)
  • paying only partial interest while in college (partial interest repayment)
  • paying a fixed amount monthly while in college (immediate repayment)

For each of these repayment plans, interest starts accruing when your loan is disbursed.


The amount of time expected for you to pay back your debt is spelled out in the term options. For private loans they are usually offered to the borrower in “terms” of 10, 15 or 20 years (and up to 25). The longer the term, the less your payment is each month, but the higher the accrued interest. Some lenders charge a penalty for paying off a loan early.

Best Private Student Loans 2024

LenderCo-Signer ReleaseRepayment OptionsTermInterest Rates
Yes- Flat Payment (In-School)
- Full (principal & interest)
- Deferred
- Interest-only
5, 8, 10, 15 years4.22% - 17.99% (Fixed)
5.59% - 17.99% (Variable)
Check Rate
Yes- Deferred
- $25 Minimum Amount
- In-School Interest Only
5, 7, 10, 12, 15 years3.79% - 15.41% (Fixed)
5.99% - 15.85% (Variable)
Check Rate
Red circle with sallie mae written in the center YesIn school payment options
- Pay now or later: Make interest payments
- Pay a fixed $25 payment
- Defer payments until after school
-Undergraduate loan rates displayed. Lower interest rates shown include the auto debit discount.
10-15 years4.19% - 14.83% APR (Fixed)
5.74% - 15.86% APR (Variable)
Check Rate
SofiYes- Immediate repayment
- Interest-only
- Fixed monthly payments in school
- Fully deferred
5, 7, 10, 15 years4.15% – 14.83% (Fixed)
5.74% – 15.86% (Variable)
Check Rate
Yes- Full payments (Principal and Interest)5, 10, 15 yearsAs low as 3.99% (Fixed)
As low as 6% (Variable)
Check Rate
- Deferred
- $25 Minimum Amount
- In-School Interest Only
5, 7, 10, 12, 15 years8.65% - 14.51% (Fixed)
9.08% - 14.95% (Variable)
Check Rate


Detailed lender specific disclosures can be found here. 

The above rates are valid as of 7/12/2024.
All rates listed above are quoted including the 0.25% auto-pay interest rate reduction. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments.
Variable rates may increase after consummation.

All rates, terms and other student loan related information listed on the Road2College website is provided without warranty or guarantee and is not intended to legally bind Road2College or lenders listed on the Road2College website. Rates and terms listed for each lender are estimates and may change depending on your credit profile and other information you provide to lenders. Road2College is not a lender and is not involved in the lender loan approval process. To apply for a loan, visit the lender’s website and review their terms and conditions for more details.

ADVERTISING DISCLOSURE: Road2College receives affiliate compensation for loans taken out from website visitors using any of the lender links on this page.