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Search for the best student loan lender for you by comparing current rates and offers from the top private student loan providers. Our comprehensive comparison simplifies the process, offering a quick side-by-side look at the Highest and Lowest interest rates (APR) and borrower benefits from leading lenders. Whether you’re a student needing funding for tuition, books, or living expenses, or a parent seeking affordable loans for your child’s education, we help you identify lenders with the lowest rates and most flexible terms.
Explore up-to-date reviews of top private student loan lenders like SoFi, Sallie Mae, and College Ave. With our detailed comparisons, finding the most competitive rates for your financial situation is easier than ever. Don’t overpay for your education—start comparing current private student loan lender rates today to secure the funding you need without breaking the bank.
| Company | Lowest (Fixed APR) | Highest (Fixed APR) | Avg Min Credit Score | Apply Now |
|---|---|---|---|---|
| Sallie Mae | 2.89% | 17.49% | 600 | Apply Now |
CollegeWhale Take: Sallie MaeSallie Mae is one of the largest private student loan lenders in the U.S., offering broad school eligibility, multi-year approval options, and multiple in-school repayment structures for undergraduate and graduate borrowers. Best for: Borrowers using a qualified cosigner, families planning to borrow across multiple academic years, and students enrolled in traditional undergraduate or graduate programs. Editorial insight: In CollegeWhale’s rate reviews, Sallie Mae is frequently competitive for cosigned borrowers but rarely prices at the very lowest APR tier for solo applicants without a long or high-income credit history. Approval friction: Sallie Mae does not offer soft-pull prequalification. Applying triggers a hard credit inquiry, and all loans require full school certification before funds are released. Pricing notes: The lowest fixed APRs shown in the table are typically reserved for borrowers with excellent credit profiles and qualified cosigners. Applicants without a cosigner or with average credit histories generally price closer to the mid-range APR tiers. Red flags / gotchas: Sallie Mae does not offer student loan refinancing, and APR spreads can widen quickly for borrowers who miss top-tier credit thresholds. In-school repayment selection has a material impact on long-term interest costs. Not ideal for: Borrowers seeking soft-pull rate checks, refinancing options, or those planning to consolidate federal student loans. What to compare before applying:
Rates and terms last reviewed by the CollegeWhale editorial team. |
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| Ascent | 2.89% | 14.41% | 600 | Apply Now |
CollegeWhale Take: AscentAscent stands out among private student loan lenders for offering both traditional cosigned loans and non-cosigner options, including outcomes-based loans for eligible upperclassmen and graduate students. Best for: Students without access to a cosigner, juniors and seniors with strong academic standing, and borrowers seeking alternative underwriting beyond credit history alone. Editorial insight: In CollegeWhale’s rate reviews, Ascent’s lowest APR tiers are most often achieved through cosigned applications. Non-cosigner and outcomes-based loans typically price closer to the middle or upper portions of the published APR range. Approval friction: Ascent offers soft-pull prequalification for many loan products, allowing borrowers to view potential rates before completing a full application. Final approval requires school certification and standard income or academic verification, depending on loan type. Pricing notes: The lowest fixed APRs shown in the table generally require strong credit or a qualified cosigner. Borrowers using outcomes-based loans or applying without a cosigner should expect higher pricing in exchange for expanded eligibility. Red flags / gotchas: Outcomes-based loans carry higher APR ceilings, and repayment flexibility varies by loan type. Borrowers should confirm repayment structure details before selecting minimum or deferred payment options. Not ideal for: Borrowers with excellent credit who already have a strong cosigner and are seeking the absolute lowest possible APRs across the market. What to compare before applying:
Rates and terms last reviewed by the CollegeWhale editorial team. |
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| College Ave | 2.89% | 17.99% | 600 | Apply Now |
CollegeWhale Take: College AveCollege Ave is best known for its high degree of repayment and term customization, allowing borrowers to fine-tune loan length, in-school payment structure, and monthly payment size more precisely than most private lenders. Best for: Borrowers with strong credit or a qualified cosigner who want maximum control over repayment terms and monthly payment structure. Editorial insight: In CollegeWhale’s rate reviews, College Ave consistently rewards strong credit profiles with competitive pricing, but borrowers without a cosigner or with thinner credit histories often price toward the mid-to-upper end of the APR range. Approval friction: College Ave offers soft-pull prequalification, allowing borrowers to view estimated rates before completing a full application. Final approval requires a hard credit check and standard school certification. Pricing notes: The lowest fixed APRs shown in the table are typically available to borrowers with excellent credit and stable income, often paired with a cosigner. Extensive term customization can increase total interest paid even when monthly payments appear lower. Red flags / gotchas: Longer repayment terms may significantly increase lifetime interest costs, and cosigner release eligibility depends on consistent on-time payments and loan progress. Not ideal for: Borrowers with limited credit history who need approval flexibility beyond traditional credit underwriting. What to compare before applying:
Rates and terms last reviewed by the CollegeWhale editorial team. |
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| SoFi | 3.18% | 15.99% | 650 | Apply Now |
CollegeWhale Take: SoFiSoFi positions itself as a premium lender for borrowers with strong credit profiles, emphasizing competitive pricing, zero fees, and added member benefits beyond the loan itself. Best for: Borrowers with excellent credit, stable income, and completed or near-complete degrees who want competitive pricing paired with long-term financial perks. Editorial insight: In CollegeWhale’s rate reviews, SoFi’s most competitive APRs are typically reserved for borrowers with high credit scores and solid post-graduation income. Applicants with average credit or in-school status often see pricing closer to the middle of the published range. Approval friction: SoFi offers soft-pull prequalification, allowing borrowers to check potential rates before submitting a full application. Final approval requires a hard credit inquiry and school certification when applicable. Pricing notes: The lowest fixed APRs shown in the table generally require strong standalone credit rather than reliance on a cosigner. Borrowers without established income or credit depth may not qualify for SoFi’s lowest pricing tiers. Red flags / gotchas: SoFi loan terms cap at 15 years, which can increase monthly payments for borrowers seeking longer amortization. Refinancing federal loans with SoFi permanently removes federal protections and forgiveness eligibility. Not ideal for: Borrowers with thin credit files, current undergraduates without income history, or those who rely heavily on cosigners for approval. What to compare before applying:
Rates and terms last reviewed by the CollegeWhale editorial team. |
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| Citizens Bank | 3.24% | 15.49% | 650 | Apply Now |
CollegeWhale Take: Citizens BankCitizens Bank stands out for its multi-year approval structure, allowing eligible borrowers to secure funding for multiple academic years without reapplying annually. This can significantly reduce administrative friction for continuing students. Best for: Students and families planning multi-year borrowing who want predictability and fewer repeat applications. Editorial insight: Citizens Bank tends to reward borrowers with stable credit and cosigners who value long-term planning over chasing the absolute lowest advertised APR. Approval friction: Citizens Bank generally requires a full application with a hard credit inquiry for in-school loans. Soft prequalification is limited compared to newer fintech lenders. School certification is required. Pricing notes: The lowest fixed APRs shown in the table typically apply to borrowers with strong credit and enrolled in eligible four-year programs. Loyalty and autopay discounts can meaningfully reduce pricing over time. Red flags / gotchas: Multi-year approval does not lock in future interest rates, and late payment fees can add cost quickly if payments are missed. Not ideal for: Community college students, borrowers attending for-profit institutions, or those seeking fast soft-pull rate checks. What to compare before applying:
Rates and terms last reviewed by the CollegeWhale editorial team. |
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| Earnest | 3.47% | 10.49% | 600 | Apply Now |
CollegeWhale Take: EarnestEarnest focuses on borrower-specific underwriting, using income, savings habits, and financial behavior to customize loan terms rather than relying solely on credit scores. Best for: Borrowers with strong income, savings discipline, and clean financial histories who want highly personalized repayment terms. Editorial insight: Earnest often delivers some of the most competitive mid-range APRs for financially disciplined borrowers, but its underwriting standards are less forgiving than traditional lenders. Approval friction: Earnest offers soft-pull prequalification, but final approval requires a hard credit check and detailed financial verification, including income and cash-flow review. Pricing notes: The lowest APRs shown in the table typically apply to borrowers with consistent income and low debt-to-income ratios. Limited credit depth or reliance on a cosigner may reduce competitiveness. Red flags / gotchas: Earnest does not offer cosigner release, and its underwriting may exclude borrowers who qualify elsewhere based solely on credit score. Not ideal for: Borrowers who rely heavily on cosigners or need flexible approval standards rather than financial documentation. What to compare before applying:
Rates and terms last reviewed by the CollegeWhale editorial team. |
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| Abe | 2.95% | 15.61% | 600 | Apply Now |
CollegeWhale Take: AbeAbe functions as a private student loan marketplace, matching borrowers with partner lenders rather than originating loans directly. This structure allows borrowers to compare multiple offers through a single application. Best for: Borrowers who want to compare private student loan offers without committing to a single lender upfront. Editorial insight: Abe’s prequalification process can surface competitive offers for qualified borrowers, but final pricing and approval depend heavily on the partner lender selected. Approval friction: Abe offers soft-pull prequalification with no initial credit impact. Final approval requires a hard credit inquiry and lender-specific documentation after selecting an offer. Pricing notes: The lowest APRs shown in the table are typically available to borrowers with strong credit or cosigners. Mid-range pricing is common once partner lender underwriting is finalized. Red flags / gotchas: Abe is not available in several states, and loan terms—including cosigner release and repayment flexibility—vary by partner lender. Not ideal for: Borrowers who want a single, consistent lender experience or who need guaranteed cosigner release options. What to compare before applying:
Rates and terms last reviewed by the CollegeWhale editorial team. |
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| LendKey | 4.89% | 9.44% | 660 | Apply Now |
CollegeWhale Take: LendKeyLendKey is a private student loan marketplace that connects borrowers with community banks and credit unions rather than issuing loans directly. Each loan is underwritten and serviced by the individual financial institution. Best for: Borrowers with strong credit (or strong cosigners) who want access to credit union–style pricing. Editorial insight: LendKey often advertises attractive fixed-rate ranges, but approvals and final pricing depend entirely on the partner credit union’s underwriting standards. Approval friction: Initial rate checks may be available without a hard credit pull, but final approval requires lender-specific documentation, income verification, and a hard inquiry. Pricing notes: The lowest APRs are typically reserved for borrowers with excellent credit profiles. Many applicants land closer to the mid-range once a specific credit union completes underwriting. Red flags / gotchas: Cosigner release policies vary by partner institution, and repayment flexibility can differ significantly from one credit union to another. Not ideal for: Borrowers who want a standardized loan experience or guaranteed cosigner release terms. What to compare before applying:
Rates and terms last reviewed by the CollegeWhale editorial team. |
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| ELFI | 2.99% | 14.22% | 680 | Apply Now |
CollegeWhale Take: ELFIELFI (Education Loan Finance) is a private lender focused on borrowers with strong credit and stable income, offering personalized support through dedicated loan advisors rather than a self-serve application model. Best for: High-credit borrowers who value one-on-one guidance and are comfortable meeting stricter income and credit requirements. Editorial insight: ELFI’s lowest advertised rates tend to be reserved for borrowers with excellent credit and verified income. Applicants closer to minimum thresholds often see pricing land toward the middle of the published range. Approval friction: ELFI does not offer instant-rate guarantees. Applicants typically complete a full application, provide income documentation, and undergo a hard credit inquiry before receiving final terms. Pricing notes: Competitive APRs are most common for borrowers with strong standalone credit profiles. ELFI does not offer autopay or loyalty discounts, so rate reductions rely primarily on credit strength. Red flags / gotchas: ELFI does not provide cosigner release options, and minimum loan amounts can be higher than many competing lenders. Not ideal for: Borrowers who need cosigner flexibility, autopay discounts, or low minimum loan thresholds. What to compare before applying:
Rates and terms last reviewed by the CollegeWhale editorial team. |
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CollegeWhale.com provides unbiased reviews and information on private student loan lenders. We do not have a financial investment with any of the lending companies nor do we have a paid advertising relationship with any of the lending companies.
This table is designed to help you compare private student loan lenders quickly and accurately, without digging through fine print across dozens of lender websites.
Displayed APRs represent published ranges. Actual rates depend on your full borrower profile and selected loan terms.
CollegeWhale maintains a proprietary dataset — the CollegeWhale EduRate Index™ — to track private student loan APR ranges, eligibility criteria, and lender features.
Rates are reviewed and updated using:
APR ranges shown reflect typical advertised pricing and do not rely on short-term promotional or teaser rates available only to a narrow subset of borrowers.
Understanding the difference between federal and private student loan interest rates is key to making informed borrowing decisions. Federal loan rates are set annually by Congress and tend to be fixed, offering stability and borrower protections like income-driven repayment and forgiveness options. In contrast, private loan rates are set by lenders and can vary widely based on creditworthiness, market trends, and loan terms. Our chart highlights monthly trends in average private student loan rates compared to federal loan rates, giving families a clear view of how each option stacks up over time.
| Loan Type | Fixed Rates | Variable Rates | Loan Terms | Loan Amounts | Minimum Credit Score | Apply Now |
|---|---|---|---|---|---|---|
| Private Student Loans | 2.89% to 17.99% APR | 4.24% to 14.71% APR | 5 to 20 years | $5,000 – $300,000 | Not specified | Compare Rates |
| Additional Details: Private APRs are credit-based and can shift meaningfully with cosigners, school type, and repayment choice. Use the lender table above to compare current fixed and variable ranges across top providers. | ||||||
| Federal Student Loans | UG: 6.39% / Grad: 7.94% / PLUS: 8.94% | Not applicable | 10 to 25 years | Up to $20,500 (UG/Grad); Cost of Attendance (PLUS) | No credit score required (except PLUS) | Apply FAFSA |
| Additional Details: Federal loan rates are fixed for the life of the loan and set annually. Always complete the FAFSA first to access federal grants, work-study, and federal loan options before considering private borrowing. | ||||||
CollegeWhale.com provides unbiased reviews and information on private student loan lenders. We do not have a financial investment with any of the lending companies nor do we have a paid advertising relationship with any of the lending companies.
Our Student Loan Repayment Calculator is an essential tool for planning and managing your student loan payments. By entering your loan amount, interest rate, and repayment term, you can quickly calculate what your monthly payments will look like.
Disclaimer: Our student loan calculators and rate tools are for informational purposes only. The displayed results are estimates and may not reflect the actual rates or terms available to you. For accurate and personalized results, please apply directly with the lender you are considering.
CollegeWhale provides independent, research-driven analysis of private student loan lenders and repayment options to help students and families borrow responsibly. The information below breaks down key considerations, tradeoffs, and decision factors to help borrowers make informed financing choices.
When lenders advertise ultra-low student loan APRs, they’re showcasing best-case scenarios — not typical outcomes. Your real interest rate is calculated using a layered risk model that evaluates who you are, how you’ll repay, and how predictable you appear as a borrower.
Understanding these inputs helps you anticipate your actual offer before applying — and avoid unpleasant surprises after approval.
Because all of these variables interact, two borrowers applying to the same lender — on the same day — can receive meaningfully different offers. This is why side-by-side comparison tools and prequalification checks matter far more than headline rates.
The smartest borrowers don’t just compare rates — they compare total cost, repayment flexibility, approval ease, and long-term exit options. That holistic view is what separates a “cheap loan” from an affordable one.
The CollegeWhale EduRate Index™ is our proprietary dataset tracking which powers our up-to-date private student loan APR ranges, lender perks, and eligibility requirements. Rates are verified directly from lender disclosures and public filings, then standardized by CollegeWhale’s editorial team for consistency. Updates occur regularly to reflect new offers, term changes, and promotional rate adjustments. When citing this data, please attribute it to CollegeWhale.com and the CollegeWhale EduRate Index™.
* CollegeWhale.com provides unbiased reviews and information on private student loan lenders. We do not have a financial investment with any of the lending companies nor do we have a paid advertising relationship with any of the lending companies.
