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Best Private Student Loans for Graduate Students
Looking for the best private graduate student loans? Comparing lenders carefully can help you secure lower interest rates, better repayment terms, and greater flexibility. With the elimination of the Grad PLUS loan on July 1, 2026 for new borrowers and stricter federal borrowing limits, private loans are becoming an important option for filling funding gaps. Here are our top picks.
Use the table below to compare interest rates, repayment options, and special features for general graduate school loans. Lenders offering specialized loans for Medicine, Law, Dentistry, Health Professions, MBA, and other disciplines are noted. APR and terms for specialized graduate loans may differ from what's shown below. Click "Check Rates" to view details on the lender's website.
You can also view the top private student loans for graduate students by category:
Be sure to pursue other options, such as any financial aid you receive from the FAFSA, before turning to private student loans to fill any funding gaps. These may include scholarships, grants, work-study, or federal loans.
Best cosigner release option
Some lenders offer a cosigner release option, 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
Your repayment term will vary depending on the loan and lender you choose. 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.
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)
When private student loans make sense
Private student loans originate from banks, credit unions, or other financial institutions. They generally have higher interest rates and fewer borrower protections than federal loans.
Private loans are a suitable choice if you:
- Have strong credit (690+ credit score) or a qualified cosigner.
- Maximized federal loans and other financial aid (scholarships, grants, work-study).
- Have completed your FAFSA application.
- Have stable income or financial support to repay the loan comfortably.
- Pursue a degree with strong job placement after graduation, like medicine, law, or business.
You don't want to take out a private student loan if you aren't confident in your ability to repay it once you graduate. That's why these loans can best fit graduate programs like law or medicine, or those who have exhausted all other options.
Comparing interest rates: Private vs. Federal loans
Federal loans have fixed rates set by the government, typically providing more predictable repayment terms. Private student loan rates vary based on your credit and cosigner status, potentially offering lower interest but fewer protections, making it important to compare options.
How do you qualify for a private student loan?
Qualification varies by lender but typically requires good credit, steady income, or a creditworthy cosigner. A strong employment history or stable income can also improve your eligibility.
Can you get a private student loan with bad credit?
Getting a private loan with poor credit is difficult without a cosigner. Students with bad credit should prioritize federal loans or financial aid alternatives before considering private options.
How to apply for a private student loan:
- Research lenders and compare rates and terms.
- Gather required documentation (income proof, employment verification, credit history).
- Submit your online application and supporting documents.
- Await lender review; provide additional documents as needed.
- Review, accept, and electronically sign the loan agreement.
- Coordinate with your school for proper fund disbursement.
FAQ
Important Disclaimers
Saving For College 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 Saving For College 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 understand how student loans work before borrowing.
Saving For College 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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