The 10 Best Private Student
Loan Providers of 2021

Ascent Cosigned Credit-Based Loan. You must apply with a creditworthy cosigner, and attend a qualifying school with at least 50 percent of a full course load.

Ascent Non-Cosigned Credit-Based Loan. You must attend a qualifying school full-time and achieve a grade point average of at least 2.90. You must also be a US citizen or permanent resident.

Ascent accommodates students without cosigners, and the interest rates are highly competitive. There’s a lot of flexibility in terms of loan options and repayment plans.

At 550, the minimum credit score requirement for borrowers and cosigners is also relatively low compared to other lenders. Students are also eligible for a one-percent cash-back reward and have a chance to win a $60,000 scholarship.

Non-US citizens aren’t eligible for these student loans. Only full-time students can apply for the non-cosigned credit-based loan.

Students without cosigners can expect stricter repayment options. Fixed interest rates are unavailable for 15-year loans.

Undergraduate and Graduate Student Loans. You must be a US citizen or apply with a creditworthy cosigner who is a US citizen or permanent resident. You must also be enrolled in a half-time program at an eligible school, have a good credit score, and have no prior student loans.

Parent Loan Refinancing. You must be a US citizen or a permanent resident, have at least $10,000 in student loans to refinance and be the primary borrower or cosigner of the loan.

Student Loan Refinancing. You must be a US citizen or permanent resident with $10,000 in student loans. If you have an associate degree or no degree, you must make 12 qualifying payments after leaving school.

After your freshman year, you can apply for funding for the subsequent years of your studies. Annually, before releasing the funds, Citizens Bank will do a credit check to ensure you still meet its criteria.

After settling your monthly payment for 36 consecutive months, you can apply to release your cosigner of their obligations. If you’re a customer of Citizens Bank, you receive a 0.25 percent discount.

Citizens Bank also accommodates international students. Its Bar Exam loans for law students and residency loans for medical students are also more affordable than many personal loans.

Citizens Bank has no option to see if you’re pre-qualified for a loan. It also has outdated systems compared to newer providers of student loans.

Undergraduate and Postgraduate Student Loans. You must be a US citizen to apply without a cosigner. Permanent residents may apply if they have a cosigner. You must also be attending a qualifying school and be at least a half-time student.

Student Loan Refinancing. You must be a US citizen or a permanent resident who has graduated from a Title IV program.

College Ave has a flexible repayment policy for both you and the person who cosigns your loan. After passing the halfway mark of your repayment period, you can apply to release your cosigner.

Other pros include a six-month grace period, the option to apply without a hard credit check, and transparency. You can easily find information about College Ave loans and scholarships.

Compared to other lenders, College Ave’s forbearance and deferment periods are short.

Private Student Loans for Undergraduates and Graduates. You should have an income of more than $35,000 annually or apply with a co-signer. Your course load must be at least half-time at an accredited school. International students can apply but they must have a cosigner who is a US citizen or permanent resident.

Student Loan Refinancing. You must be a US citizen or permanent resident who has graduated from a qualifying program.

CommonBond has a very generous forbearance program. It offers students financial aid for financial distress, natural disasters, and COVID relief.

You can check if you qualify for CommonBond’s private student loans without doing a hard credit check. Students have access to free loan mentoring too.

CommonBond requires a cosigner on most of its private student loans and the monthly payments can get very high.

Undergraduate and Graduate Loans. You must be enrolled half-time in a bachelor’s degree or associate degree program at an accredited school. US citizens and residents can apply without a cosigner, but international students must have one. Students also need to pass the credit check.

Residency Loan. Students should either have already graduated from medical school within the last 12 months or be completing their final term in a graduate program for health professionals. This loan is available for US citizens, residents, and international students. Non-US students must have a cosigner.

Bar Exam Loan. Either you must have graduated from law school within the last six months, or you must be completing your last year in a graduate law program. US citizens and residents can apply. International students with creditworthy cosigners can apply too.

Parent Loan. You must be a US citizen or permanent resident, and you’ll have to pass the credit check. The student needs to be enrolled half-time in an accredited associate or bachelor’s degree program.

Consolidation Loan. Only US citizens or permanent residents can apply for this loan and must have a US-based address. You should also have a reliable income with a positive repayment history and only $150,000 in student loan debt.

There are countless repayment options available, making it easier to settle the $1.7 trillion in student debt American students owe. Discover gives its borrowers cash-back rewards for excellent grades too.

The application process is quick. Discover also offers grace periods for either six or nine months.

Unfortunately, Discover doesn’t offer a cosigner release.

Students can’t pre-qualify for private student loans either, and you can only choose one repayment term. For undergraduates, the term is 15 years, and for graduates, it’s 20 years.

Student Loan Refinancing. You must be a US citizen or a permanent resident, and either be enrolled for less than half-time or in the final semester of your program. You must be employed and the current borrower. You’re required to refinance at least $5,000, or $10,000 if you’re in California. Your debt must be from a Title IV accredited school in the US, and it must be from your education.

Parent PLUS Refinancing. Same as above.

Cosigned Student Loan. The consigner and student must live in the United States but cannot live in Nevada. College freshmen, sophomores, and juniors should be enrolled full-time. Seniors and graduates must be enrolled half-time. Your cosigner must have three years of credit history, a minimum salary of $35,000, and no bankruptcies.

Independent Undergraduate Student Loan. Same as above, except you don’t need a cosigner.

Independent Graduate Student Loan. Same as above.

Earnest gives students an option to skip one payment every 12 months. You can customize your monthly repayment and loan terms too.

Without committing to a hard credit check, you can check if you qualify for a private student loan. Unlike most private student loan lenders, Earnest considers non-traditional factors when reviewing a student’s loan application.

If you’re not a US citizen, Earnest won’t lend to you. There is neither a cosigner release solution nor in-person help available.

Independent Student Loan. You have to be a US citizen or permanent resident, and you must be enrolled at least half-time in a qualified bachelor’s program. You should have an adequate credit score, 36 months of credit history, and a minimum annual income of $35,000.

Cosigned Student Loan. Same as above, except your cosigner must be the one to meet the eligibility requirements for residency status and credit history.

Student Loan Refinancing. You must meet the same nationality, income, and financial requirements as for the Independent Student Loan. The only difference is that you need to have a bachelor’s degree or higher from an approved secondary school.

Parent Loan. The student must be enrolled at least half-time in a bachelor’s program or higher. The borrower and cosigner must both be US citizens or residents.

The convenience and expert help of a personal financial advisor is a great bonus for students. Students can also pre-qualify for their ideal loan, and the repayment options are very flexible.

The interest rates from ELFI are lower than many of its competitors. ELFI also doesn’t have a maximum loan cap, making it possible to cover all your tuition fees.

ELFI doesn’t have a cosigner release option. The minimum loan amounts are quite high at $10,000 for private student loans and $15,000 for parent loans.

You can’t use ELFI for refinancing if you haven’t graduated from college.

Independent Student Loan. You should have a minimum salary of $30,000 and have a positive credit score. International students, US citizens, and permanent residents enrolled in a Title IV or non-profit school can apply. You must be enrolled at least half-time in your degree program.

Cosigned Student Loan. You must meet the same academic and nationality requirements as for an Independent Student Loan. Your cosigner must meet the same financial requirements.

Refinancing Student Loan. Besides using your student loans at a Title IV school, you need to be a US citizen or permanent resident.

Students don’t need a degree to refinance loans at EDvestinU. You can check if you qualify for a loan without a hard credit check.

EDvestinU offers students with financial distress various repayment options, and the interest rates are remarkably low. You can also release your cosigner after 36 months.

EDvestinU handles the forbearance and deferment options case by case, and its maximum loan amount is lower than most lenders.

Independent Postgraduate and Graduate Loans. You should be a US citizen or permanent resident, enrolled half-time at an accredited school, and have a good credit rating.

Cosigned Student Loan. Same academic and nationality requirements as above. Your cosigner must prove they can support your studies and have a good credit report.

Refinancing Student Loan. You must be a US citizen or permanent resident with a four-year degree from a Title IV school.

Refinancing Parent Loan. The student must have attended a Title IV school. You also need to have a good credit record and a reliable income.

You don’t have to do a hard credit check to see if you qualify. The refinancing loans also accommodate medical and dental residents.

There are countless repayment options available. Laurel Road doesn’t have a maximum cap on its student loans, so it can cover 100 percent of your educational costs.

Not all programs and schools qualify for a loan from Laurel Road. You also can’t postpone your payment if you return to school.

Independent Postgraduate and Graduate Loans. You must be a US citizen or a permanent resident, attend an accredited school, and have a stable income with a positive credit report.

Cosigned Student Loan. Same nationality and academic requirements as above. However, your co-signer must meet the nationality and financial requirements.

Parent Loans. The student must enroll in a qualifying school and must either be a US citizen or resident. Borrowers and cosigners must also be US citizens or residents and have a reliable income and good credit.

Students have access to online tutoring and credit score tracking. Sallie Mae accepts part-time learners, and you can apply for a loan whether you’re in a bachelor’s degree, master’s degree, or doctoral program.

Students can also release their cosigners after just 12 months.

No pre-qualification is available. There are also many fees and penalties, such as late fees and returned payment fees.