Capital One Student Loan Alternatives

Capital One is one of the largest banks in the U.S. in terms of deposits, but it doesn’t offer student loans. We’ve included a list of highly-rated student loans below so you can find an alternative.

Capital One student loan alternatives

Federal student loans are the best option for most students, but if you don’t qualify for federal loans or have maxed out your federal loans, then a private loan is your next best bet.

Since Capital One is a private bank, we’ve reviewed several private lenders below.

College Ave

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Editorial Selection: Best Overall

• Up to 100% of costs are covered
• Choose between 20 different repayment schedules
• Apply in just 3 minutes

College Ave is a private student loan lender with options for undergraduates and graduate students. Student loans from College Ave can cover up to 100% of the school-certified cost of attendance, including tuition, fees, books, housing, and other costs.

Here’s what to know about the College Ave undergraduate student loan:

• Fixed rates (APR):  Between 3.24% and 13.95% APR
• Variable rates (APR): Between 0.94% and 12.99% APR
• Loan amounts: $1,000 to 100% of the school-certified costs
• Repayment terms: 5, 8, 10, or 15 years
• In-school repayment options: Deferred payments, $25 monthly payments, interest-only payments, and full principal and interest payments
• Grace period: 6 months
• Cosigner release: After making at least half of your scheduled payments, plus meeting other criteria
• Unique benefits: You can apply and receive a credit decision within 3 minutes

What makes College Ave a good alternative to Capital One 

College Ave offers student loans with a variety of repayment terms and in-school repayment options. Borrowers can also release a cosigner after 24 months of on-time payments and when they are halfway through the repayment term.

College Ave partners with Payce Rewards, which provides cash back that you can put toward your student loans or any other financial goals. To qualify, you have to create an account with Payce Rewards, link a credit or debit card, and shop at one of the approved stores. These include retailers like Walmart.com, Kohls.com, and Sephora.com.

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Sallie Mae

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Editorial Selection: Best for Cosigners

• Shortest cosigner release period
• Available to undergraduates, graduates, and for career training

Sallie Mae is one of the largest student loan companies in the marketplace, offering loans for undergraduate, graduate, and non-degree-seeking students. Even students attending college less than part-time are still eligible for Sallie Mae student loans. Its interest rates are relatively low, and they have several in-school repayment options.

• Fixed rates (APR): Between 3.75% and 13.72% APR
• Variable rates (APR): Between 2.00% and 12.35% APR
• Loan amounts: $1,000 to 100% of the school-certified costs of attendance
• Repayment terms: 15 years
• In-school repayment options: Interest-only payments, $25 payments, and deferred payments
• Grace period: 6 months
• Cosigner release: After 12 on-time payments and if you meet credit requirements

What makes Sallie Mae a good alternative to Capital One

Sallie Mae’s cosigner release program is one of the best, with only 12 months of on-time payments required.

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Earnest

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Editorial Selection: Best for No Fees

• No origination, late payment, or application fees
• Skip one payment per year, if needed
• Check your rate without impacting your credit

Earnest is an online lender offering private student loans with competitive rates. They provide more flexibility and a better user experience to borrowers who need to supplement federal student loans.

• Fixed rates (APR): Between 3.24% and 12.78% APR
• Variable rates (APR): Between 1.34% and 11.44% APR
• Loan amounts: $1,000 to 100% of the school-certified cost of attendance
• Repayment terms: 5, 7, 10, 12, or 15 years
• In-school repayment options: $25 monthly payments, interest-only payments, deferred payments, and full principal and interest payments
• Grace period: 9 months
• Cosigner release: Not available
• Unique benefits: Can set up biweekly payments

What makes Earnest a good alternative to Capital One

Earnest offers a nine-month grace period, so borrowers have more time before repayment begins. This can be especially useful for borrowers who have trouble finding a job. Borrowers can also skip one payment each year, which is another benefit for borrowers who need more wiggle room in their budget.

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Ascent

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Editorial Selection: Best for Eligibility

• Select undergraduates can gain access to a free, exclusive coaching program
• Get 1% cash back upon proof of graduation
• Check your rate without impacting your credit

Ascent offers two main types of loans: those for borrowers with a cosigner and those without a cosigner. Ascent is one of the only options for students who don’t have a cosigner for their loan. International students will need a cosigner to qualify for a loan, while DACA students will not.

• Fixed rates (APR): Between 3.69% and 15.21% for cosigned loans
• Variable rates (APR): Between 5.99% and 15.95% APR for cosigned loans
• Loan amounts: $2,001 to $200,000
• Repayment terms: 5, 7, 10, 12, or 15 years
• In-school repayment options: Interest-only payments, $25 fixed payments, and deferred payments
• Grace period: 9 months
• Cosigner release: 12 consecutive on-time payments and must meet credit requirements
• Unique benefits: Students can get a 1% cash back bonus after graduation

What makes Ascent a good alternative to Capital One

Students can get a cash back bonus worth 1% of the loan principal when they graduate. Ascent also offers $1,000 scholarships for certain students, so borrowers can potentially minimize how much they need to borrow.