Student loans for school, refinance, and everything between.
We compare 10 private and refinance lenders side by side. The Department of Education recommends federal aid first; use these private options to fill the gap or to refinance high-rate debt after you graduate. Always weigh rate savings against the federal protections you give up.
Top picks by lender
Reviewed weeklyAPRs reflect the published range for qualified borrowers. Actual rate depends on credit, income, school, and cosigner. Prequalify with a soft pull where available.
Always exhaust federal aid first.
The U.S. Department of Education and CFPB both publish this guidance. Here is the math behind why.
Federal loans: income protection by design
Federal Direct loans come with income-driven repayment plans (SAVE, IBR, PAYE), which cap payments at 5 to 10 percent of discretionary income. They also offer deferment and forbearance during financial hardship, plus Public Service Loan Forgiveness (PSLF) for government and nonprofit workers. None of these protections exist on a private loan.
Federal loan limits force private borrowing for some
Dependent undergraduates can borrow up to $31,000 total across all years (only $23,000 of which can be subsidized). For students at private universities or graduate programs with $60,000+ annual costs, federal aid alone will not cover the gap. That is where private loans come in.
Private loans: faster to fund, no income cap
Private lenders fund based on creditworthiness, not financial need. There is no annual borrowing cap from the lender side (only the school-certified cost of attendance). Approval can happen in days. The trade-off: no federal protections and rate-based pricing that punishes thin credit files.
Rule of thumb from the CFPB
Borrow federal subsidized first, then federal unsubsidized, then federal PLUS (parent or grad), and only then private. If a private rate beats federal PLUS (currently around 9 percent) and you can repay quickly, the comparison shifts. Always run both scenarios before signing.
Two very different products.
A new student loan funds your education. A refinance loan replaces existing student debt. The lenders, the rates, and the credit requirements look nothing alike.
For students still in school
- Cosigner usually required for undergrads
- In-school deferment options (deferred, fixed $25, interest-only)
- APR ranges typically 5.37% to 16.85%
- Top picks: College Ave, Sallie Mae, Earnest, Ascent
For graduates with existing debt
- No cosigner needed if income and credit qualify
- Replaces federal and private loans with one new private loan
- APR ranges typically 4.49% to 11.99%
- Top picks: Earnest, SoFi, Splash, Laurel Road, Credible
CFPB warning: Refinancing federal loans into a private loan permanently removes access to income-driven repayment, PSLF, deferment, and forbearance. Once gone, those benefits cannot be restored. Run the lifetime cost of both scenarios before signing a refinance agreement.
Best for in-school borrowing.
Undergraduate Student Loan
Private Student Loan
Smart Option Student Loan
Non-Cosigned Outcomes-Based Loan
Student Loans
Best for graduates with stable income.
Student Loan Refinancing
Student Loan Refinancing
Student Loan Refinance Marketplace
Student Loan Refinance
Student Loan Refinancing
Run the math, then keep exploring.
Common questions about student loans.
Should I take federal student loans before private ones?
Almost always, yes. Federal loans offer income-driven repayment plans, deferment, forbearance, and forgiveness programs that private loans cannot match. The U.S. Department of Education recommends maxing out federal aid (Direct Subsidized, Unsubsidized, and PLUS) before any private borrowing. Use private loans only to cover the gap after federal aid, scholarships, and savings.
When does refinancing student loans make sense?
Refinancing makes sense when you have stable income, good credit (typically 670+), and only private loans, or you have federal loans you are willing to give up federal protections on. Refinancing federal loans into a private loan eliminates access to income-driven plans and Public Service Loan Forgiveness (PSLF). The CFPB warns borrowers to weigh the rate savings against the value of lost federal benefits before refinancing.
What credit score do I need for a private student loan?
Most private lenders want a FICO of 670 or higher for the lowest advertised rates. Lenders like Ascent approve students with scores in the 540 to 620 range using outcomes-based underwriting that weighs GPA, school, and major. Most undergraduates need a cosigner to qualify for competitive rates because they have thin credit files.
How does cosigner release work?
Many private lenders let you remove your cosigner after a set number of on-time, consecutive monthly payments (typically 12 to 36). The borrower must also pass a credit check on their own at that point. Sallie Mae allows release after 12 payments, College Ave after 24, and Earnest after 36. Cosigner release is not guaranteed; the lender has final say.
What is the difference between fixed and variable APR?
A fixed APR stays the same for the life of the loan. A variable APR fluctuates with a benchmark rate (typically SOFR) and can rise or fall over time. Variable rates start lower but carry interest rate risk. The Federal Reserve recommends fixed rates for borrowers who plan to repay over more than 5 years, and variable rates only for borrowers who plan a fast payoff.
Can I deduct student loan interest on my taxes?
Yes. The IRS allows a deduction of up to $2,500 of student loan interest per year, subject to income phase-outs (currently $80,000 single, $165,000 married filing jointly). The deduction applies to both federal and private student loans, and you do not need to itemize to claim it. See IRS Publication 970 for the full rules.
See your monthly payment by lender.
Plug in the loan size and APR. We do the math.