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Best Private Student Loans for College in 2025
Searching for the best private student loans? If you’ve maxed out your federal loans or need extra funding for school, the right lender could save you thousands in interest. But sorting through all the options can feel overwhelming.
We’ve simplified your search. Compare top lenders below to easily find the lowest rates, best repayment terms, and valuable perks that match your needs.
You can also view the top private student loans for graduate students by category:
Best cosigner release option
Some lenders offer a cosigner release option, which is ideal for parents willing to help you get a loan but who may not want a long-term commitment. Here is a list of the student loan providers with the best cosigner release options.
Wondering how much that loan is going to cost you? Check out our free Loan Calculator
Input your loan terms and we’ll tell you how much you can expect to pay monthly and in total
Best flexibility for repayment
Flexibility is critical for all borrowers since anyone can face an unexpected setback, such as a job loss or medical emergency. The following lenders offer the most flexibility regarding repayment plans, repayment terms, monthly payments, loan terms, grace periods, forbearances, and discharge options.
Best bank lender
Unlike federal student aid from the government, you can get a private student loan from a bank, credit union, or online lender. Sometimes, you may qualify for a lower interest rate if you borrow a student loan from the bank you already use.
Here is a list of the best bank lenders that offer student loans, ranked by costs, eligibility criteria, flexibility, and customer service.
How much are you going to be expected to pay for your degree? Use our free Financial Aid Calculator
Use this calculator to estimate your Student Aid Index (SAI)
Private vs. federal student loans: key differences
Federal loans have fixed interest rates set by the government, plus borrower protections like income-driven repayment plans and loan forgiveness programs. Private loan rates vary based on creditworthiness and offer fewer protections. Choose private loans only if you've maxed out federal options and have a clear repayment plan.
When private student loans can be a good option
Private student loans originate from banks or credit unions rather than the federal government. They typically have higher interest rates and fewer protections than federal loans, but can still be beneficial under the right circumstances.
Consider private student loans if you:
- Have strong credit (690+ score) or a qualified cosigner.
- Have exhausted federal undergraduate loan options or reached loan limits.
- Completed your FAFSAand understand your financial aid eligibility.
- Are pursuing a degree with high employment prospects post-graduation.
Consider other funding options first
Before turning to private loans, consider scholarships, grants, work-study programs, or federal Parent PLUS Loans. Federal options offer hardship protections and potential forgiveness programs unavailable through private lenders.
FAQ
Important Disclaimers
Savingforcollege.com provides our readers with free access to objective information, articles and tools to help them make informed decisions about saving and paying for education. We are able to do this because we are compensated by our partners, including some private student lenders. Some, though not all, of the products featured here are offered by partners who may pay us a sales commission. Our partnerships do not influence our ratings or reviews, which are based on in-depth research and objective methodologies, though they may influence which products we write about and where those products appear on our site. Our opinions are our own.
While Savingforcollege.com strives to keep our information up to date, the lender rates, terms and other information are subject to change at any time.
Exhaust all other resources, such as scholarships and grants, before borrowing student loans. If you need to borrow loans, federal student loans offer many benefits that private student loans do not. Read the fine print and disclaimer from any potential lender and understandhow student loans work before borrowing.
Savingforcollege.com is an independent publisher. We do not provide legal, financial, accounting or tax advice. The information and tools published on this website are general in nature and may not apply to your specific circumstances. You should seek specific guidance from a qualified legal, financial, accounting or tax professional.
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Saving For College is an unbiased, independent resource for parents and financial professionals, providing them with information and tools to understand the benefits of 529 college savings plans and how to meet the challenge of increasing college costs.