5 Best Student Loans - April 2025
Note: In our data, College Ave offered consistently lower rates, including today (rates are current as of the date posted).
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🥇Our #1 Choice for Students and Parents
- Lowest Rates - APR starting at 3.47%1
- Cover up to 100% of school costs
- Offers instant credit decision
- Apply online in less than 3 minutes
- No origination or prepayment fees
Sallie Mae
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Rates starting at 3.49% APR1
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Option to fund entire year (if approved)
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Loans for part-time students are available
1Undergraduate Loan - Fixed rates 3.49%-15.49% APR* with auto debit discount.
SoFi
- Rates starting at 3.54% APR1
- No fees ever
- No limit on covered expenses as long as they are school-certified
ELFI
- Rates starting at 3.69%
- Submit online application in minutes
- Student Loan Advisor to guide you through the application process
Citizens Bank
- Rates starting at 3.99%
- Student loans for undergrads, graduates, and parents
- No application, origination, or disbursement fees
selected this partner
selected this partner
🥇Our #1 Choice for Students and Parents
- Lowest Rates - APR starting at 3.47%1
- Cover up to 100% of school costs
- Offers instant credit decision
- Apply online in less than 3 minutes
- No origination or prepayment fees
College Ave Student Loans
Established in 2014, College Ave Student Loans is an online lender offering undergraduate, graduate, career and parent student loans as well as student loan refinancing. College Ave consistently offers some of the most competitive rates and flexible repayment terms in the industry. Prospective borrowers can apply for funding in as little as three minutes and find out immediately if they qualify, making it one of the fastest and most convenient options on the market.
Best student loans for undergraduates
College Ave Student Loans is our top pick for undergraduate student loans. The company's flexible repayment options make it a great choice for students looking to manage their monthly payments. College Ave offers 5, 8, 10, and 15-year term loans, and up to 20-year term loans for graduate degree holders, giving borrowers multiple repayment options. In addition, borrowers can choose to pay interest-only and flat $25 monthly payments while in school. In-school payments reduce the interest that accrues during that period, lessening the loan amount to be repaid after graduation. They also require the lowest minimum credit score for students or cosigners at 620+.
In a similar manner to federal loans, College Ave defers student loan payments until after the borrower graduates from college. College Ave borrowers benefit from a 6-month grace period for undergraduate loans and a 9-month grace period for graduate loans. Unlike some other lenders that have maximum loan amounts, College Ave provides loans up to the full cost of attendance with a minimum loan amount of $1,000. This makes it ideal for students without significant financial aid who need to cover the whole cost of their education.
Quick Application Process
We found College Ave’s website to have a user-friendly interface and information that's very easy to read and locate. Similarly, the application process is very straightforward. The application is designed as a walk-through for borrowers, explaining the process while pointing out details like the difference between applying alone and with a cosigner. Users can get a credit check within 3 minutes and the company will inform prospective borrowers of their approval before finalizing the application, in case they decide to add a cosigner. Applicants will see their interest rate once their application is approved.
Another strong point with its application process is that potential borrowers can use College Ave’s pre-qualification tool to get an idea of whether they will be approved, as well as view the estimated interest rate and loan terms. This feature is free to use and doesn’t constitute a hard credit check, meaning it won't impact your credit score.

Screenshot collegeavestudentloans.com August, 2024
Customer Resources
Graduate students may know a thing or two about student loan terminology, but high school students, not so much. College Ave provides a comprehensive student loan glossary, helping soon-to-be undergrads (and parents) understand terms, abbreviations, and other industry jargon.
The website also has a resource section, offering informative how-to articles on topics such as how to apply for loans and grants and how to pay for graduate school. The FAQ section is well-organized, categorized by loan type, and very easy to follow. It even includes a search bar, enabling users to immediately locate the answers to their specific questions.
Users can also find loan calculators to help estimate accrued interest rates and analyze their individual repayment terms. One of our favorite features are College Ave’s monthly scholarship sweepstakes and contests where both students and loan applicants can enter for chances to win money and other college essentials, such as free college textbooks for a year.
Room for Improvement
One area where College Ave falls short is that co-signers cannot be released until the loan is halfway through its repayment term. As a result, co-signers are locked into the loan for a longer period of time than with other lenders. Other conditions that the borrower must meet to release the co-signer include:
- A minimum of 24 consecutive payments (not including periods of deferment or forbearance)
- Be a U.S. citizen or permanent resident
- Pass a credit review — no 30-day or greater delinquency in the last 12 months and no bankruptcy, foreclosure or repossession in the last 24 months
- A documented annual income that is at least twice the balance of outstanding loan
For more information, read our full College Ave Student Loans review.
Sallie Mae Student Loans
About Sallie Mae:
Sallie Mae is a trusted private student loan provider offering flexible loans for undergraduate, graduate, and career training students. With competitive rates and multiple repayment options, they help students and families manage the cost of higher education with confidence.
Loan Features:
- Covers up to 100% of school-certified expenses, including tuition, fees, housing, books, and supplies.
- Choose between fixed and variable interest rates to match your financial goals.
- No origination or prepayment fees, so you can pay off your loan faster without penalties.
- 0.25% interest rate reduction when enrolled in automatic payments.
Repayment Options:
- Deferred Repayment: Make no payments while in school and during your grace period.
- Fixed Repayment: Pay $25 a month while in school to reduce your total loan cost.
- Interest Repayment: Pay interest each month while in school to avoid it building up.
- Graduated Repayment Period: Make interest-only payments for 12 months after your grace period.
Cosigner Information:
Applying with a creditworthy cosigner may improve your chances of approval. Cosigner release is available after 12 consecutive, on-time principal and interest payments, pending credit review.
Application Process:
The application is quick and online, and you can view personalized rates and repayment options before you apply. Decisions are typically made within minutes.
Best For:
Sallie Mae is a strong choice for students and families looking for flexible loan options, competitive rates, and helpful features like cosigner release and automatic payment discounts.
SoFi Private Student Loans
About SoFi:
SoFi is a modern finance company offering private student loans tailored for undergraduate, graduate, and professional students. They emphasize a straightforward online application process, competitive interest rates, and flexible repayment options to support students in funding their education.
Loan Features:
- Covers up to 100% of school-certified expenses, including tuition, room and board, books, and other related costs.
- Offers both fixed and variable interest rates, allowing borrowers to choose based on their financial preferences.
- No fees for origination, prepayment, or late payments, ensuring transparency and cost-effectiveness.
- Provides a 0.25% interest rate discount when enrolled in automatic payments.
Repayment Options:
- Deferred Repayment: No payments required while in school and during a six-month grace period after graduation.
- Interest-Only Repayment: Pay only the interest while in school and during the grace period, helping to reduce the total loan cost.
- Partial Repayment: Make fixed payments of $25 per month while in school to lower overall interest accumulation.
- Immediate Repayment: Begin full principal and interest payments as soon as the loan is disbursed.
Cosigner Information:
Students can apply with a creditworthy cosigner to enhance approval chances. SoFi offers a cosigner release option after a specified number of on-time payments, subject to credit review.
Application Process:
The application is entirely online and can be completed in minutes. Borrowers can check their rates and terms without impacting their credit score, facilitating informed decision-making.
Best For:
SoFi is ideal for students seeking flexible private student loans with competitive rates, diverse repayment options, and added member benefits to support their financial journey.