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College Ave
College Ave offers flexible and straightforward student loan solutions, helping families finance college with competitive rates and customizable repayment options.
Sallie Mae
Sallie Mae provides private student loans with competitive rates and multiple repayment options to help students and families cover college costs.
SoFi
SoFi offers private student loans with competitive rates, flexible repayment options, and exclusive member benefits to help families finance college affordably.
Juno
Juno negotiates lower student loan rates by leveraging group buying power, helping families secure the best possible financing for college.
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Student Choice
Student Choice partners with credit unions to provide flexible and affordable student loan options.
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Ascent
Ascent offers private student loans with competitive rates, flexible repayment options, and benefits like no-cosigner options for eligible students.
Student Loan Interest Rate
Interest on a loan is the amount someone pays to use the money they’re borrowing. Private student loan rates can be higher than some federal loans, and the lowest rates require strong credit. Variable rates fluctuate, while fixed rates stay the same for the loan's duration.
Cosigner Release
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. Requirements vary by lender, so it's important to compare terms before borrowing.
Repayment Options
The most common student loan repayment options include
- full deferment, where no payments are made while in college
- interest-only repayment, where you pay just the interest
- partial interest repayment, which reduces overall costs by covering some interest
- immediate repayment, where you make fixed monthly payments.
Term Options
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.