Find the right private student loan for your family
Most families start by shopping lenders directly — it’s the simplest way to see your personalized rates.
You can also compare marketplaces and other paths below.
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Most families start here
Shop direct lenders
Apply directly with a lender and see your personalized rates. Most offer a soft credit pull so you can preview without commitment.
Road2College may earn a commission if you apply for a loan through links on this page. This never affects your rate or terms.
See full disclosures.
College Age
Direct lender
Best for: Flexible Repayment Timing
Customize how you pay during school with 4+ in-school payment options most lenders don’t offer, including flat-payment and interest-only plans.
- 2.59% – 17.99% (fixed)
- 3.89% – 17.99% (variable)
More detail
- Choose from 4+ in-school payment plans including flat-payment and interest-only
- Pre-qualify with a soft credit pull — no commitment required
- Cosigner release available after a track record of on-time payments
Good to know: Interest rates may be higher than some competitors for borrowers with the very strongest credit profiles.
SoFi
Direct lender
Best for: Strong Credit Profiles
No fees, member perks, and career support — ideal for borrowers or cosigners with strong credit who want a straightforward, no-fee loan.
- 2.98% – 15.99% (fixed)
- 4.39% – 15.99% (variable)
More detail
- No origination fees, no late fees, and no insufficient-funds fees
- Check your rate with a soft pull before committing
- Member benefits including career coaching and community events
Good to know: SoFi works best for borrowers with established credit history — rates are most competitive at the top of the range.
Sallie Mae
Direct lender
Best for: Wide School Coverage
The most recognized name in student lending, with broad school coverage and a wide range of loan products for different college situations.
- 2.89% – 17.49% (fixed)
- 3.62% – 16.25% (variable)
More detail
- Covers more schools and program types than most competitors
- Multiple repayment options including interest-only and fixed/deferred plans
- Free quarterly FICO score updates for borrowers
Good to know: Rates and fees can vary widely — always compare your personalized offer against other options.
Ascent
Direct lender
Best for: No Cosigner Path
One of the few lenders with a genuine no-cosigner option for juniors and seniors based on future income potential, not just credit history.
- 2.69% – 16.56% (fixed)
- 3.65% – 16.06% (variable)
More detail
- Outcomes-based approval for juniors and seniors without a cosigner
- Also offers traditional cosigned loans with competitive rates
- 1% cash back graduation reward
Good to know: The no-cosigner option is limited to juniors and seniors at qualifying schools, and rates are typically higher than cosigned loans.
Ascent – Parent Loan
Direct lender
Best for: PARENTS WHO WANT FLEXIBLE TERMS AND NO FEES
No origination, application, or disbursement fees — ideal for parents, guardians, or sponsors who want a straightforward private loan with multiple repayment options and no surprises.
- 5.55% – 15.81% (fixed)
- 4.85% – 14.31% (variable)
More detail
- No application, origination, or disbursement fees, and no prepayment penalty
- Check your rate with a soft pull before committing
- Choose from 5, 7, 10, 12, or 15-year repayment terms
Good to know: Ascent parent loan fixed APRs are most competitive for parents with strong credit. The loan stays in the parent’s name; there is no transfer-to-student option.
Other ways to shop
Prefer to compare multiple lenders at once, get a negotiated deal, or explore credit unions? These paths can help.
Juno
Group-negotiated option
Best for: NEgotiated Deal
Juno negotiates with lenders on behalf of its members to secure lower rates or better perks than you’d typically get on your own.
- Starting at 2.59%
More detail
- Group-negotiated rates that aim to beat standard published offers
- Free to join — no cost to see what deals are available
- Transparent comparison of negotiated vs. standard terms
Good to know: The negotiated options change over time, so deals available today may differ from next cycle.
Student Choice
Credit-union network
Best for: Credit Union Route
Connects you with credit unions that offer student loans — a path many families don’t know about, with the potential for competitive nonprofit rates.
- 2.99% – 15.00% (Education Line of Credit)
More detail
- Access to nonprofit credit unions you might not find on your own
- Credit unions often have competitive rates and personal service
- You’re borrowing from a member-owned institution
Good to know: Experience varies by credit union — terms, service, and availability depend on the specific institution.
Compare your options
What matters most to you?
| Comparison field | SoFi Direct lender | College Ave Direct lender | Sallie Mae Direct lender | Ascent Direct lender | Juno Group-negotiated option | Student Choice Credit-union network |
|---|---|---|---|---|---|---|
| Best for | Borrowers with strong credit profiles | Students who want flexible repayment timing | Wide range of loan types and schools | Borrowers who need a no-cosigner path | Getting a negotiated deal | Families who prefer credit-union lending |
| Rates | 2.98% – 15.99% (fixed) 4.39% – 15.99% (variable) | 2.59% – 17.99% (fixed) 3.89% – 17.99% (variable) | 2.89% – 17.49% (fixed) 3.62% – 16.25% (variable) | 2.69% – 16.56% (fixed) 3.65% – 16.06% (variable) | starting at 2.59% | 2.99% – 15.00% Education Line of Credit |
| Borrower type | Student | Student | Student | Student | Student & Parent | Student & Parent |
| Cosigner | Cosigner available; release possible | Cosigner available; release possible | Cosigner available; release after payment history | Outcomes-based option for juniors/seniors without cosigner | Depends on lender | Cosigner typically expected |
| Repayment flexibility | Standard options | Multiple in-school payment options | Multiple repayment options including interest-only | Standard + interest-only options | Varies by negotiated terms | Varies by credit union |
| Distinctive angle | No fees; member benefits; career support | Flexible in-school payment choices | Longest track record; broad school coverage | One of few true no-cosigner options | Bulk-negotiated rates & perks | Connects you to nonprofit credit unions |
| Apply |
- Best for
- Borrowers with strong credit profiles
- Rates
- 2.98% – 15.99% (fixed) 4.39% – 15.99% (variable)
- Borrower type
- Student
- Cosigner
- Cosigner available; release possible
- Repayment flexibility
- Standard options
- Distinctive angle
- No fees; member benefits; career support
- Best for
- Students who want flexible repayment timing
- Rates
- 2.59% – 17.99% (fixed) 3.89% – 17.99% (variable)
- Borrower type
- Student
- Cosigner
- Cosigner available; release possible
- Repayment flexibility
- Multiple in-school payment options
- Distinctive angle
- Flexible in-school payment choices
- Best for
- Wide range of loan types and schools
- Rates
- 2.89% – 17.49% (fixed) 3.62% – 16.25% (variable)
- Borrower type
- Student
- Cosigner
- Cosigner available; release after payment history
- Repayment flexibility
- Multiple repayment options including interest-only
- Distinctive angle
- Longest track record; broad school coverage
- Best for
- Borrowers who need a no-cosigner path
- Rates
- 2.69% – 16.56% (fixed) 3.65% – 16.06% (variable)
- Borrower type
- Student
- Cosigner
- Outcomes-based option for juniors/seniors without cosigner
- Repayment flexibility
- Standard + interest-only options
- Distinctive angle
- One of few true no-cosigner options
- Best for
- Getting a negotiated deal
- Rates
- starting at 2.59%
- Borrower type
- Student & Parent
- Cosigner
- Depends on lender
- Repayment flexibility
- Varies by negotiated terms
- Distinctive angle
- Bulk-negotiated rates & perks
- Best for
- Families who prefer credit-union lending
- Rates
- 2.99% – 15.00% Education Line of Credit
- Borrower type
- Student & Parent
- Cosigner
- Cosigner typically expected
- Repayment flexibility
- Varies by credit union
- Distinctive angle
- Connects you to nonprofit credit unions
Estimate your monthly cost
Our approach & methodology
Transparency matters. Here’s how we think about this page.
How we choose which options to show
We focus on providers that serve families paying for college. We prioritize options that let you preview rates before committing, offer meaningful differences, and are widely available.
What “best for” means
When we label a provider “best for” something, we mean it stands out for that use case relative to the others shown. This is editorial judgment based on our research — not a ranking.
Compensation disclosure
Road2College may receive compensation from some partners shown on this page. This does not influence our editorial assessments, but you should know about it.
Rates and terms can change
Interest rates, fees, and features are subject to change. Always verify current terms directly with the provider before making a decision.
Need more help?
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Frequently asked questions
Common questions families have about private student loans.
Should I use private loans before federal loans?
In almost all cases, no. Federal student loans come with important protections — income-driven repayment, forgiveness programs, deferment options, and fixed interest rates set by Congress. Exhaust your federal loan eligibility, scholarships, savings, and school payment plans before turning to private loans.
What does it mean to preview likely rates?
Several lenders and marketplaces let you check what rate you’d likely qualify for using a ‘soft pull’ on your credit — which doesn’t affect your credit score. This pre-qualification step helps you compare options before committing to a full application and hard credit inquiry.
Do I need a cosigner for a private student loan?
Most undergraduate students will need a cosigner (usually a parent or other creditworthy adult) to qualify for competitive rates. A few lenders, like Ascent, offer no-cosigner options for juniors and seniors at qualifying schools. Having a cosigner with strong credit typically results in lower interest rates.
What is the difference between a lender and a marketplace?
A direct lender (like College Ave or SoFi) is the company that actually funds and services your loan. A marketplace (like Credible) lets you fill out one form and see offers from multiple lenders, making it easier to comparison-shop. The marketplace doesn’t lend you money — it connects you with lenders who do.
How much should I borrow in private student loans?
As a general guideline, try to keep your total student loan debt (federal + private) below your expected first-year salary after graduation. Borrow only what you need after exhausting other options. Use the cost calculator above to see what different amounts would actually cost you monthly.
How should parents compare loan options?
Parents should look at: (1) whether parent-specific loan products are available, (2) the interest rate and fees for your credit profile, (3) repayment flexibility during and after school, (4) whether you can preview rates before applying, and (5) whether the lender offers cosigner release if your student is the primary borrower.
What is a group-negotiated loan option?
Companies like Juno negotiate with lenders on behalf of a large group of borrowers to try to secure better rates or terms than individuals would get on their own. Think of it like group buying power — the company uses its member base as leverage to negotiate deals, which you can then choose to accept or decline.
Disclaimer
Destination U, Inc. (Road2College) works hard to keep the information on our site accurate and up to date. The information provided on Road2College.com may differ from what you encounter when visiting the website of a financial institution, lender, loan servicer, or a specific product page on another site. When evaluating any offers, please review the legal pages on the other party’s site. Product names, logos, brands, and other trademarks featured or referred to on Road2College.com are the property of their respective trademark holders. Information obtained via Road2College.com is for educational purposes only. Please consult a licensed financial professional before making any financial decision.
Payment estimates shown on this page are illustrative only and are based on information you provide. Actual loan terms, rates, and eligibility are determined solely by the lender.
Road2College.com may receive compensation when you use links or apply through lenders featured on this page. This compensation may influence which lenders appear on the site but does not affect our editorial independence or the information we provide. This site is not endorsed by or affiliated with the U.S. Department of Education.