We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. Learn more

Best Student Loans of 2025

Discover the top lenders offering the best student loan options. Start your application today and take control of your educational financing.

Companies listed below are sorted by the minimum credit score required to apply, from lowest to highest:
Last Updated: December 18, 2024
Best Choice 2025
Our Partner
APPLY NOW
College Ave Official Site

Lowest Rates - APR starting at 3.47%1

  • Best option for those with cosigners and good credit
  • Checking rates won't affect your credit score
  • Flexible options for repayment and no origination fees

 

View All College Ave Rates

#2
Our Partner
APPLY NOW
Sallie Mae Official Site

Option to Fund Entire Year (if approved)

  • Rates starting at 3.49% APR1
  • No origination fee or prepayment penalty2
  • Loans for part-time students are available

View All Sallie Mae Rates

#3
Our Partner
APPLY NOW
SoFi Official Site

Easy Online Application

  • Rates starting at 3.54% APR1
  • No fees ever
  • Students with cosigners are 5x more likely to be approved

View All SoFi Rates

Best Choice 2025
Our Partner
APPLY NOW
College Ave Official Site

Lowest Rates - APR starting at 3.47%1

  • Best option for those with cosigners and good credit
  • Checking rates won't affect your credit score
  • Flexible options for repayment and no origination fees

 

View All College Ave Rates

Back to Top 

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.  

GET RATE

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.

Back to Top 

Sallie Mae Student Loans

Formerly known as the Student Loan Marketing (SLM) Association, Sallie Mae is a consumer banking company that originates, services, and collects student loans. Founded in 1973, the company initially functioned as a federally guaranteed student loan issuer, and later transitioned strictly to private student loans in 2014 after transferring its remaining federal loan portfolio to Navient, a separate entity. 

Best student loans for graduate school

While many other lenders only offer four or five specialized graduate school loans, Sallie Mae provides nine loan options tailored to different types of graduate students. This diversity in loans seeks to take into account the varying needs of graduate students and their respective programs. Their graduate loan offerings include:

  • General graduate school loan
  • MBA loan
  • Medical school loan
  • Medical residency loan
  • Health professions loan (e.g. nursing, pharmacy and other graduate-level health programs)
  • Dental school loan
  • Dental residency loan
  • Law school loan
  • Bar study loan

Not many lenders offer loans for medical and dental residencies, which can be a turnoff for some prospective borrowers. Since medical residents aren’t fully licensed, most residency programs pay low salaries and require residents to relocate to different states, in which residents may need additional financial assistance to afford that area’s cost of living. Sallie Mae addresses this need, offering medical and dental residency loans that operate just as a school loan regarding grace period and deferment. 

Sallie Mae also offers a generous deferment option. Medical and dental students have a 3-year grace period after graduating. Similarly, all borrowers with graduate degrees have a 48-month loan deferment (taken in 12 month increments) as long as they’re in a medical or dental residency, or an internship program.

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer
GET RATE
ADVERTISEMENT

Excellent Resources for Borrowers

Sallie Mae has an exceptionally well-structured, user-friendly website that highlights key factors in large print and darker font. The disclaimers are moderately sized and located directly at the bottom of each page. Finding resources on the site was also a breeze.

Users who choose to register with Sallie Mae have access to numerous tools and resources. One in particular, the college planning calculator, helps students analyze the total cost of college attendance based on their own situation and helps them build a customized payment plan. The calculator uses realistic factors such as grants, scholarships, and savings, and enables users to revise and update the plan as they see fit.

Sallie Mae also assists in scholarship search and provides tips on applying and writing essays, as well as free access to FICO scores. They also require a 630+ minimum credit score for students or cosigners.

Screenshot salliemae.com January 27, 2023

Transparency

Wording is an essential element for us when researching and comparing companies, especially when it comes to student lenders. It’s important that borrowers know what they're getting into so they can plan appropriately and avoid being saddled with debt for longer than they need to.

Salie Mae lists its full APR range for every type of loan, explains the benefit of borrowing with a cosigner, and has a live chat for immediate answers from customer representatives. We also noticed that Sallie Mae is diligent in responding to customer concerns online, promptly answering negative consumer feedback on social media and the Better Business Bureau.

Room for Improvement

Sallie Mae is honest about its lending process, where credit is checked and analyzed for loan approval. Since Sallie Mae caters to a diverse group of borrowers, we believe the company should consider offering pre-approved rates during the application process. Borrowers are automatically subject to having a hard credit pull for loan approval, which can affect their score without having any certainty that they will actually qualify for funding. 

Also, considering undergraduates whose first jobs out of college may not have competitive salaries, Sallie Mae’s six month grace period may not be realistic. For this reason, we believe loan deferment should be extended to twelve months. 

Back to Top 

SoFi Private Student Loans

SoFi is the second largest marketplace lender around today, providing student loans, student loan refinancing, mortgages, and personal loans. With over $14 billion in loans issued to date, SoFi extends undergraduate, graduate, and parent loans with competitive rates, particularly for autopay users. Special rates are also available for MBA and Law students. SoFi ensures comprehensive coverage of educational expenses, including living costs and books, with a fully digital application process that expedites approval. With a click, students can add cosigners and receive approval within minutes, accompanied by a flexible array of repayment options.

SoFi offers loans starting at $1,000. Repayment options include deferred, immediate, partial interest, and interest-only plans, catering to varying financial circumstances and preferences. Eligibility criteria are standard, requiring applicants to be U.S. citizens or permanent residents, enrolled either full or half-time. While a cosigner is not mandatory, it can be advantageous for applicants with limited or poor credit history. They require a minimum credit score for students or cosigners of 670+.

SoFi provides a swift online rate quote process, accompanied by a user-friendly interface and a student loan calculator for informed decision-making. Enrolling in autopay garners a 0.25% interest rate reduction, with additional savings for existing SoFi members or cosigners. Overall, SoFi delivers a streamlined and customer-centric experience, enhancing accessibility and affordability for borrowers seeking student loans.

Ads by Money. We may be compensated if you click this ad.AdAds by Money disclaimer
GET RATE
ADVERTISEMENT

Our partners listed above are sorted by minimum credit score required to apply, from lowest to highest:

#1 College Ave: 620

#2 Sallie Mae:  620

#3 Sofi: 670

 

 

 

Advertiser Disclosures:

1Sofi: Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs. Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a cosigner. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 8/5/24 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).

Undergrad: Interest Rates: Eligibility and Important Details. Fixed rates range from 3.54% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 5.54% APR to 15.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 11/20/24 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). 

Graduate: Interest Rates: Eligibility and Important Details. Fixed rates range from 3.54% APR to 14.83% APR with a 0.25% autopay discount. Variable rates range from 5.54% APR – 15.86% APR a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 11/11/24 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

 

 

College Ave Disclosure

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.

Information advertised valid as of 11/01/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.

Sallie Mae Disclosure

Borrow Responsibly

We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.

Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

1. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.

2. Although we do not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.

3. For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website may be subjected to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.

4. Based on a comparison of approval rates for Sallie Mae Smart Option Student Loans for undergraduate students who applied with a cosigner versus without a cosigner during a rolling 12-month period from October 1, 2022 through September 30, 2023.

5. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years.

College Finance is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Information valid as of 10/25/2024.

Sallie Mae loans are made by Sallie Mae Bank. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners.

2024 Sallie Mae Bank. All rights reserved.

SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.