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.
Quick answer
Best overall: SoFi Student Loans (4.8/5). Leading fintech lender offering competitive fixed and variable rates with extensive borrower benefits and member perks.
- Best Flexibility: Earnest
- No Cosigner: Ascent Student Loans
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.
Why we picked it
SoFi 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.
Key Features
Pros
- • Highly competitive fixed and variable rates
- • Extensive borrower benefits (unemployment protection, career coaching)
- • No origination, application, or prepayment fees
- • SoFi membership includes investment and banking services
Watch-outs
- • Requires good credit (generally 680+ for best rates)
- • Doesn't offer federal loan consolidation directly
- • Interest rates variable and can change monthly
Earnest
by Earnest Operations LLC
Flexible student loan lender offering customizable payment plans and transparent underwriting focused on borrower success.
Why we picked it
Earnest prioritizes flexibility and transparency. Their customizable payment plans and willingness to work with diverse financial situations make them excellent for borrowers seeking options beyond standard loan terms.
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
- • No origination, application, or prepayment fees
Watch-outs
- • Minimum loan amount typically $10,000
- • Rates require good credit (generally 700+)
- • No unemployment protection or borrower benefits
College Ave Student Loans
by Originated by Firstrust Bank, First Citizens Community Bank, or M.Y. Safra Bank, FSB
Established student loan provider offering competitive rates, flexible terms, and comprehensive loan products for all borrower types.
Why we picked it
College Ave provides reliable, straightforward student lending with competitive rates and broad product availability. Solid choice for borrowers seeking established lender without frills.
Key Features
Pros
- • Competitive fixed and variable rates
- • Available for undergraduate and graduate borrowing
- • Co-signer release available after half the original repayment term (slow vs. peers)
- • Multiple term length options
Watch-outs
- • Rates require good credit (typically 680+ for best rates)
- • No borrower benefit programs (unlike SoFi)
- • Limited deferment options compared to federal loans
Sallie Mae
by Sallie Mae Bank
Largest private student loan servicer offering competitive rates, broad product offerings, and established institution backing.
Why we picked it
Sallie Mae is the dominant force in student lending with extensive products and resources. Good for borrowers who prioritize institution size and product breadth, though not the lowest-cost option.
Key Features
Pros
- • Largest student loan servicer (established history)
- • Broad range of loan products and options
- • Available for undergraduate, graduate, and parent borrowing
- • Competitive rates with multiple term options
Watch-outs
- • Rates not always most competitive (SoFi often better)
- • Complex product lineup (can be overwhelming)
- • Limited borrower benefits compared to newer competitors
Citizens Bank Student Loans
by Citizens Bank
Major bank offering student loans with established relationships, competitive rates, and in-school borrowing options.
Why we picked it
Citizens Bank brings banking institution stability to student lending. Good for borrowers who value bank relationships or need integrated banking and lending services.
Key Features
Pros
- • Major bank institution with 1,000+ branches across the Northeast and Midwest
- • Competitive rates for undergraduate and graduate borrowing
- • In-school deferment available for current students
- • No origination fees
Watch-outs
- • Rates not always most competitive vs. fintech lenders
- • Limited borrower benefit programs
- • Traditional underwriting may be stricter
Ascent Student Loans
by Ascent Funding LLC
Student loan lender specializing in co-signer-free underwriting, enabling independent borrowing without parental backing.
Why we picked it
Ascent's focus on co-signer-free lending is game-changing for independent borrowers. Excellent choice for students who want loans without requiring parental guarantees.
Key Features
Pros
- • Co-signer not required for approval
- • Competitive rates without co-signer
- • In-school deferment available
- • No origination or application fees
Watch-outs
- • Rates require solid credit even without co-signer (700+)
- • Variable rates subject to market fluctuations
- • Limited co-signer release options if co-signer used
Full Comparison
| Feature | SoFi Student Loans | Earnest | College Ave Student Loans | Sallie Mae | Citizens Bank Student Loans |
|---|---|---|---|---|---|
| Fixed APR | 4.24% - 9.99% (with autopay + SoFi Plus discount, refinance) | 3.49% - 9.99% (with 0.25% autopay discount, refinance) | 2.84% - 17.99% (with autopay, undergraduate fixed) | 6.19% - 14.48% | 6.24% - 14.18% |
| Variable APR | 5.99% - 9.99% (with autopay + SoFi Plus discount, refinance) | 5.88% - 9.99% (with 0.25% autopay discount, refinance) | 3.89% - 17.99% (with autopay, undergraduate variable) | 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 |
Which should you choose?
You want the highest-rated option in this roundup
Start with SoFi Student Loans, which scored 4.8 out of 5 in our evaluation.
Best Flexibility
Earnest is our pick here. Flexible student loan lender offering customizable payment plans and transparent underwriting focused on borrower success.
No Cosigner
Ascent Student Loans is our pick here. Student loan lender specializing in co-signer-free underwriting, enabling independent borrowing without parental backing.
Still deciding?
Scan the full comparison table above, or browse everything in our Student Loans hub.