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Select your best option and apply online in 15 minutes or less.
Choose a private student loan when federal loans, scholarships, and work-study are not enough
to meet your needs.

What Interest Rate Will I Get?

Your rate will be based on your credit score, level of schooling, the loan term you select, and whether you choose a fixed or variable rate. Adding a co-signer often results in a lower rate.

When Do Repayments Begin?

All our lenders allow you to defer repayments for typically six months after completing your schooling. To save money over the long run, you can choose to pay interest-only or a flat amount each month while still in school. If your savings, income or family support is enough to allow you to make full principal and interest payments while you are in school, you can qualify for a lower interest rate and reduce the amount of debt you will have when you graduate.

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When Should I Apply?

Apply for private loans each year after you receive your award letter from your college. Before you apply, make sure you pursue all potential sources of cheaper money. Seek out grants and scholarships and fill out the federal FAFSA form each year you are in school.

Available Discounts

All our lenders offer a lower interest rate to borrowers who set up automatic monthly payments on their student loans. Some lenders offer an additional loyalty discount to borrowers who maintain bank accounts at their institutions. Taking advantage of available discounts can reduce your interest rate by 0.25% to 0.50%.

Add a Cosigner

Because private student loans are available primarily to borrowers with established credit, adding a cosigner such as a parent, friend or family member can make the difference in getting your loan approved. The higher the credit score of your cosigner, the lower the interest rate you may be offered.

Variable or Fixed Rate?

A variable rate means that the amount of your monthly payment will change from time to time as interest rates in the economy go up and down. While variable rates are usually lower than fixed rates at the time you take out your loan, variable rates are not recommended for borrowers who are not financially secure or for those choosing a longer repayment term. By contrast, a fixed rate on a loan means that your monthly payment will never change.

Parent Loans

Parents who are qualified may choose to borrow in their own name to shield their children from some or all of the future burdens of student debt. Private student loans can offer interest rates that are lower than federal ParentPLUS loans to parents with good-to-excellent credit.

No Fees or Penalties

None of our lenders charge application fees or loan closing costs. By contrast, there can be high fees when you take out federal loans, particularly for graduate students and parents. You will not be assessed fees or penalties if you decide to pay down your loan faster than scheduled or refinance with another lender.

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