Best Private Student Loans of 2026
After maxing out federal student loans, private loans can fill the gap. We evaluated lenders on rates, borrower protections, repayment flexibility, and cosigner policies to find the best options for students.
Our Top Pick
SoFi Student Loans
Best OverallSoFi sets the standard for private student loan refinancing with industry-leading rates, outstanding member benefits, and a commitment to borrower success. Best choice for borrowers seeking comprehensive financial wellness support beyond just loans.
Rankings
SoFi Student Loans
by Social Finance Inc.
Leading fintech lender offering competitive fixed and variable rates with extensive borrower benefits and member perks.
Key Features
Pros
- • Highly competitive fixed and variable rates
- • Extensive borrower benefits (unemployment protection, career coaching)
- • No origination, application, or prepayment fees
Cons
- • Requires good credit (generally 680+ for best rates)
- • Doesn't offer federal loan consolidation directly
Earnest
by Earnest Operations LLC
Flexible student loan lender offering customizable payment plans and transparent underwriting focused on borrower success.
Key Features
Pros
- • Customizable payment plans (choose any term between 5-30 years)
- • Flexible underwriting (considers alternative income sources)
- • Competitive rates starting around 5.75% fixed
Cons
- • Minimum loan amount typically $10,000
- • Rates require good credit (generally 700+)
College Ave Student Loans
by Northpointe Capital LLC
Established student loan provider offering competitive rates, flexible terms, and comprehensive loan products for all borrower types.
Key Features
Pros
- • Competitive fixed and variable rates
- • Available for undergraduate and graduate borrowing
- • Flexible co-signer release after 24 months
Cons
- • Rates require good credit (typically 680+ for best rates)
- • No borrower benefit programs (unlike SoFi)
Sallie Mae
by Sallie Mae Bank
Largest private student loan servicer offering competitive rates, broad product offerings, and established institution backing.
Key Features
Pros
- • Largest student loan servicer (established history)
- • Broad range of loan products and options
- • Available for undergraduate, graduate, and parent borrowing
Cons
- • Rates not always most competitive (SoFi often better)
- • Complex product lineup (can be overwhelming)
Citizens Bank Student Loans
by Citizens Bank
Major bank offering student loans with established relationships, competitive rates, and in-school borrowing options.
Key Features
Pros
- • Major bank institution with 2,600+ branches
- • Competitive rates for undergraduate and graduate borrowing
- • In-school deferment available for current students
Cons
- • Rates not always most competitive vs. fintech lenders
- • Limited borrower benefit programs
Discover Student Loans
by Discover Financial Services
Consumer finance company offering student loans with competitive rates and strong customer service heritage.
Key Features
Pros
- • Established Discover Financial Services backing
- • Competitive fixed and variable rates
- • In-school deferment available
Cons
- • Rates not always lowest compared to specialized lenders
- • Limited borrower benefit programs
Ascent Student Loans
by Ascent Funding LLC
Student loan lender specializing in co-signer-free underwriting, enabling independent borrowing without parental backing.
Key Features
Pros
- • Co-signer not required for approval
- • Competitive rates without co-signer
- • In-school deferment available
Cons
- • Rates require solid credit even without co-signer (700+)
- • Variable rates subject to market fluctuations
Full Comparison
| Feature | SoFi Student Loans | Earnest | College Ave Student Loans | Sallie Mae | Citizens Bank Student Loans |
|---|---|---|---|---|---|
| Fixed APR | 5.94% - 12.98% | 5.75% - 13.48% | 5.89% - 13.98% | 6.19% - 14.48% | 6.24% - 14.18% |
| Variable APR | 5.29% - 11.28% | 4.88% - 12.58% | 4.99% - 12.85% | 4.44% - 13.48% | 5.24% - 13.18% |
| Loan Amounts | Up to $500,000 | Up to $500,000 | Up to $350,000 | Up to $No aggregate limit | Up to $200,000 |
| Cosigner Release | Yes | No | Yes | Yes | Yes |
| In-School Deferment | No | No | Yes | Yes | Yes |
| Our Rating | 4.8/5Best | 4.7/5 | 4.5/5 | 4.4/5 | 4.4/5 |
How We Picked These
Frequently Asked Questions
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