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5 Best Student Loans - April 2025

Private Student Loans continue to evolve. DOGE and Trump may fundamentally change student aid eligibility. Don’t delay. Compare Private Student Loans for academic years 2025-26.

Last Updated: April 23, 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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College Ave's Official Site

🥇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

 

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Sallie Mae

  • Rates starting at 3.49% APR1

  • Option to fund entire year (if approved)

  • Loans for part-time students are available

1Undergraduate Loan - Fixed rates 3.49% - 15.99% APR* with auto debit discount. 

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SoFi

  • Rates starting at 3.54% APR1
  • No fees required
  • No limit on covered expenses as long as they are school-certified
#4
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ELFI 

  • Rates starting at 3.69%
  • Submit online application in minutes
  • Student Loan Advisor to guide you through the application process
#5
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Citizens Bank

  • Rates starting at 3.99%
  • Student loans for undergrads, graduates, and parents
  • No application, origination, or disbursement fees

 

93% of visitors
selected this partner
93% of visitors  selected this partner
BEST OVERALL
Our Partner
93% of visitors
selected this partner
93% of visitors  selected this partner
SEE HOW TO APPLY>
College Ave's Official Site

🥇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

 

View All College Ave Rates 🎓

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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.  

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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.

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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.

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Undergraduate Loan - Fixed rates 3.49% - 15.99% APR* with auto debit discount.

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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.

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Advertiser Disclosures:

College Ave: 

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: 

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.

©️ 2025 Sallie Mae Bank. 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.

SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America. W646400 0325

Information valid as of 04/17/2025.

Sofi: 

1Interest 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 4.64% 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 1/7/2024 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 onehundredth 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).

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 co-signer. 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).

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.