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Updated: August 5, 2025

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 more flexibility. Here are our top picks for private student loans for graduate students.

Featured lenders

Use the table below to compare interest rates, repayment options, and special features.

College Ave logo
College Ave
Fixed APR
2.95% - 14.49%
Variable APR
4.24% - 14.49%
Repayment terms
5, 8, 10, 15 years
Offers:Autopay discount (0.25%), Graduation reward ($150), and Cosigner release
Sallie Mae logo
Sallie Mae
Fixed APR
2.99% - 14.99%
Variable APR
4.37% - 13.98%
Repayment terms
15 years
Offers:0.25 percentage point interest rate reduction with autopay and borrowers can apply for cosigner release
Earnest logo
Earnest
Fixed APR
3.47% - 16.49%
Variable APR
4.99% - 16.85%
Repayment terms
Up to 15 years
Offers:Autopay discount (0.25%), Customizable payment due date, and Option to Skip 1 payment every 12 months
SoFi logo
SoFi
Fixed APR
3.23% - 14.83%
Variable APR
4.39% - 15.86%
Repayment terms
5 years, 7 years, 10 years, 15 years
Offers:Autopay discount (0.25%), and Cosigner release
Ascent Student Loans logo
Ascent Student Loans
Fixed APR
3.89% - 14.41%
Variable APR
5.04% - 15.00%
Repayment terms
7, 10, 12, 15 years
Offers:Autopay discount (0.25%), Reward of $400 per successful referral, and Graduation Reward (1%)
LendKey logo
LendKey
Fixed APR
4.39% - 10.39%
Variable APR
5.90% - 10.37%
Repayment terms
5 years, 10 years, 15 years
Offers:Autopay discount (0.25%), Cosigner release, and One-time payment due date change

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 other student loan options, such as a graduate PLUS loan

BEST STUDENT LOAN BY CATEGORY

Best cosigner release option

Some lenders offer a cosigner release option, ideal for parents willing to help you get a loan but may not want a long-term commitment. Here is a list of the student loan providers with the best cosigner release options.

Sallie Mae logo
Sallie Mae
Fixed APR
2.99% - 14.99%
Variable APR
4.37% - 13.98%
Repayment terms
15 years
Offers:0.25 percentage point interest rate reduction with autopay and borrowers can apply for cosigner release
SoFi logo
SoFi
Fixed APR
3.23% - 14.83%
Variable APR
4.39% - 15.86%
Repayment terms
5 years, 7 years, 10 years, 15 years
Offers:Autopay discount (0.25%), and Cosigner release
Ascent Student Loans logo
Ascent Student Loans
Fixed APR
3.89% - 14.41%
Variable APR
5.04% - 15.00%
Repayment terms
7, 10, 12, 15 years
Offers:Autopay discount (0.25%), Reward of $400 per successful referral, and Graduation Reward (1%)

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

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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.

Sallie Mae logo
Sallie Mae
Fixed APR
2.99% - 14.99%
Variable APR
4.37% - 13.98%
Repayment terms
15 years
Offers:0.25 percentage point interest rate reduction with autopay and borrowers can apply for cosigner release
SoFi logo
SoFi
Fixed APR
3.23% - 14.83%
Variable APR
4.39% - 15.86%
Repayment terms
5 years, 7 years, 10 years, 15 years
Offers:Autopay discount (0.25%), and Cosigner release
Earnest logo
Earnest
Fixed APR
3.47% - 16.49%
Variable APR
4.99% - 16.85%
Repayment terms
Up to 15 years
Offers:Autopay discount (0.25%), Customizable payment due date, and Option to Skip 1 payment every 12 months

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)

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When private student loans make sense

If your parents are willing to help you pay for college, they may have considered a federal Parent PLUS loan. However, depending on their credit score, your parent may be able to qualify for a lower interest rate and avoid origination fees by cosigning a loan with you.

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:

  1. Research lenders and compare rates and terms.
  2. Gather required documentation (income proof, employment verification, credit history).
  3. Submit your online application and supporting documents.
  4. Await lender review; provide additional documents as needed.
  5. Review, accept, and electronically sign the loan agreement.
  6. Coordinate with your school for proper fund disbursement.

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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