Many or all companies we feature compensate us. Compensation and editorial research influence how products appear on a page. Student Loans Best Graduate Student Loans in 2025: Federal and Private Loans for Popular Grad Programs Updated May 13, 2025 22-min read Expert Approved Expert Approved This article has been reviewed by a Certified Financial Planner™ for accuracy. Written by Timothy Moore, CFEI® Written by Timothy Moore, CFEI® Expertise: Bank accounts, credit cards, taxes, insurance, personal loans Timothy Moore is a Certified Financial Education Instructor (CFEI®) specializing in bank accounts, student loans, taxes, and insurance. His passion is helping readers navigate life on a tight budget. Learn more about Timothy Moore, CFEI® Reviewed by Catherine Valega, CFP® Reviewed by Catherine Valega, CFP® Expertise: Financial planning, retirement planning, education planning, insurance planning, investment planning Catherine Valega, CFP®, CAIA®, founded Green Bee Advisory LLC to help women, impact givers and investors, and small businesses build, manage, and preserve their financial resources. She's been practicing financial planning for more than 20 years. Learn more about Catherine Valega, CFP® Continuing your education beyond an undergraduate degree is a great way to expand your knowledge and skills, open up new job opportunities, and potentially earn more money. But first, you need to pay for school—which often means taking out more loans. The best graduate school loans offer competitive interest rates, flexible repayment options and terms, cosigner release, no origination fees, and unique features specific to your area of study. We’ll cover the best grad student loans (federal and private) below. LenderBest forOur ratingDept. of Education Direct Unsubsidized LoansAll graduate loans5.0/5Sallie MaeMedical school; Law school4.8/5College AveDental school; Pharmacy school; Nursing and health professions5.0/5SoFiCertificate programs4.7/5AscentVeterinary school; Public administration and social work4.4/5Citizens BankMBA; Teachers4.7/5CredibleComparison shopping4.6/5MPOWERInternational students4.6/5ELFICustomer service4.5/5PNCRate discounts3.6/5EarnestFeatures4.7/5EdlyIncome-based repayment3.9/5 Direct Unsubsidized Loans: The best loans for graduate school Like with undergraduate loans, the best graduate student loans are federal loans. But not all federal loans are created equal. The gold standard for financing your graduate degree is a Direct Unsubsidized Loan. Federal Direct Unsubsidized loans are available to graduate students attending half-time or more without needing to demonstrate financial need; they also have no credit score requirements. Grad students can borrow up to $20,500 a year, at a fixed interest rate of 8.08% and a loan fee of 1.057%. Prioritize these loans above all else: The interest rate is decent, regardless of credit score, and Direct Unsubsidized loans are eligible for key federal student loan benefits, such as deferment, forbearance, and forgiveness. If $20,500 a year isn’t enough to cover the cost of grad school, you should consider other options, such as private student loans, to fill the funding gap. Direct Subsidized Loans aren’t available to grad students. Should you supplement with a Grad PLUS loan? Grad students are eligible for a second kind of federal loan: Grad PLUS Loans. Conventional advice for undergrad students is to accept as much federal funding as possible before turning to private loans, but it’s not so black and white for grad students. In many cases, a private student loan might be better. Why? Grad PLUS loans have higher interest rates (9.08%) than Direct Unsubsidized loans. You might qualify for a lower rate with a private lender. Grad PLUS loans have a high loan fee (4.228%). Many of the best private grad student loans have no origination fees. The only way to remove an endorser (cosigner) is to consolidate or refinance the loan; there isn’t a cosigner release option like many private lenders offer. Grad PLUS Loans still carry typical federal loan benefits, but their higher all-around cost might make them less appealing than some of the private loans featured below. When choosing between Grad PLUS and private loans, I often caution parents against cosigning private loans unless there’s a clear plan for cosigner release. If my clients are considering private loans, that plan usually takes priority over Grad PLUS. I also encourage exploring alternatives, like employer tuition assistance or taking a slower, part-time path to reduce costs. Most importantly, borrowers should understand how loan repayment will affect their broader financial life: Will you still be able to save for a home, retirement, or other goals while managing your student debt? Catherine Valega , CFP®, CAIA 5 best private graduate student loans by program Sometimes, federal student loans aren’t enough to foot the bill for grad school. In that case, private loans are your next best option. Below, we’ll review the best grad school loans for various programs and highlight rates, repayment options, and features for our top choices. Sallie Mae Best Overall Graduate Loan 4.8 /5 View Rates About Sallie Mae’s graduate student loan Sallie Mae offers graduate loans for a wide range of programs; notably, Sallie Mae also has loans for medical and dental residencies, as well as a bar study loan for students preparing for the bar exam. Sallie Mae has graduate loan options for students attending school less than half-time. Grad loans available: Sallie Mae Graduate School Loan Sallie Mae MBA Loan Sallie Mae Medical School Loan Sallie Mae Medical Residency Loan Sallie Mae Health Professions Loan Sallie Mae Dental School Loan Sallie Mae Dental Residency Loan Sallie Mae Law School Loan Sallie Mae Bar Study Loan What programs is it best for? Best for law school Best for medical school Why Sallie Mae is the best for law school We found that Sallie Mae has the best law school loans. The lender offers 48 months of deferment during residencies and fellowships, a nine-month grace period, and 12 months of interest-only payments after the grace period. Plus, you can get a bar study loan for $1,000 to $15,000, which covers bar exam classes, the exam itself, and the cost of living while you’re studying, instead of working. Why Sallie Mae is the best for medical school Sallie Mae has the best medical school loans thanks to its 36-month grace period after graduation and 12 months of interest-only payments after the grace period for qualifying grads. Plus, borrowers can get medical residency loans (up to $30,000) with deferred payments. Loan details Fixed rates (APR)3.49% – 14.48% (higher for residency loans)Variable rates (APR)4.54% – 13.98% (higher for residency loans)Repayment terms10 or 15 yearsRepayment optionsDeferred, fixed ($25/month during school), interest repaymentStandard grace period6 monthsLoan amounts$1,000 – 100% of school-certified cost of attendanceOrigination feesNoneCosigner releaseAfter 12 on-time payments Read More Average Medical School Debt College Ave Best for Dental School 5.0 /5 View Rates About College Ave’s graduate student loan College Ave has some of the lowest interest rates for grad school loans, but its flexible repayment options and long grace periods make the lender especially ideal for students studying dentistry, pharmacy, nursing, and other health professions. Grad loans available: College Ave Graduate School Loan College Ave Medical School Loan College Ave Dental School Loan College Ave Law School Loan College Ave MBA Loan College Ave Health Professions Loan What programs is it best for? Best for dental school Best for pharmacy school Best for nursing and health professions Why College Ave is the best for dental school College Ave has the best dental school loans thanks to its extended 12-month grace period for dental students. The flexible repayment options and timelines are also helpful for dentists who’ve taken on significant debt to fund their education. Why College Ave is the best for pharmacy school College Ave is the best lender for pharmacy students for similar reasons. Flexible repayment terms, a 48-month deferment during fellowship and residency, and a nine-month grace period for health professions make borrowing for pharm school more manageable. Why College Ave is the best for nursing and health professions Finally, College Ave has the best nursing loans. Again, College Ave is an industry leader for students in health professions thanks to its grace period and repayment schedules, not to mention the low interest rates. Loan details Fixed rates (APR)3.47% – 14.49%Variable rates (APR)4.44% – 14.49%Repayment terms5, 8, 10, or 15 yearsRepayment optionsFull principal and interest, interest only, flat ($25/month during school), deferredStandard grace period9 monthsLoan amounts$1,000 – 100% of school-certified cost of attendanceOrigination feesNoneCosigner releaseHalfway through repayment (e.g., if you choose a 10-year repayment term, you may request cosigner release after 5 years [60 months] of consecutive on-time monthly payments) SoFi Best for Certificate Programs 4.7 /5 View Rates About SoFi’s graduate student loan SoFi has some of the best all-around private grad school loans, but this lender specifically allows students pursuing graduate certificates to get financing, too. Grad loans available: SoFi Graduate School Loan SoFi Graduate Certificate Loan SoFi Law School Loan SoFi MBA Loan SoFi Health Professions Loan What programs is it best for? Best for certificate programs Why SoFi is the best for certificate programs SoFi has grad school loans for students pursuing professional certificates—a feature most other lenders don’t offer. Loan details Fixed rates (APR)3.54 – 14.83Variable rates (APR)4.64 – 15.86Repayment terms5, 7, 10, or 15 yearsRepayment optionsInterest only, partial ($25/month during school), immediate, deferredStandard grace period6 monthsLoan amounts$1,000 – 100% of school-certified cost of attendanceOrigination feesNoneCosigner releaseAfter 24 on-time payments Ascent Best for Veterinary School 4.4 /5 View Rates About Ascent’s graduate student loan Ascent has some of the best grad school loans, including outcomes-based loans. Its flexible repayment options and terms are helpful for a wide range of graduate programs. Grad loans available: Ascent Graduate School Loan Ascent MBA Loan Ascent Dental School Loan Ascent Law School Loan Ascent Medical School Loan Ascent Health Professions Loan Ascent Ph.D. Loan Ascent Master’s Degree Loan What programs is it best for? Best for veterinary school Best for public administration and social work Why Ascent is the best for veterinary school Ascent has the best loans for veterinary school: Its standard med school loans (with four repayment options and a 36-month grace period) extend to veterinary students and are among the best in the industry. Why Ascent is the best for public administration and social work Those who need a Ph.D. or master’s for a job in public administration or social work can find good options (with up to a 20-year repayment term) through Ascent. Loan details Fixed rates (APR)4.39 – 13.76Variable rates (APR)6.86 – 14.02Repayment terms5, 7, 10, 12, 15, or 20 yearsRepayment optionsMinimum ($25/month during school), interest only, immediate, deferredStandard grace period9 monthsLoan amounts$2,001 – $400,000 (total)Origination feesNoneCosigner releaseAfter 12 consecutive on-time payments Citizens Bank Best for MBA Programs 4.7 /5 View Rates About Citizens Bank’s graduate student loans The best feature of Citizens Bank grad school loans is the multi-year approval—if you qualify, you don’t need to apply every year, but simply request the funds you need each academic year. Grad loans available: Citizens Bank Graduate School Loan Citizens Bank MBA Loan Citizens Bank Law School Loan Citizens Bank Medical School Loan Citizens Bank Dental School Loan What programs is it best for? Best for MBA Best for teachers Why it’s the best for MBA programs Citizens Bank lets students borrow up to $300,000 for MBA programs, making it one of the best MBA loan programs available. Why it’s the best for teachers Citizens Bank lets grad students borrow with a 20-year repayment plan, which makes monthly payments smaller. This makes Citizens Bank the best option for teacher loans, particularly for educators who expect a lower salary (especially in their starting years). Loan details Fixed rates (APR)4.97% – 14.09%Variable rates (APR)4.24% – 14.11%Repayment terms5, 7, 10, 15, or 20 yearsRepayment optionsImmediate, interest only, deferredStandard grace period6 monthsLoan amounts$1,000 – $225,000 ($300,000 max for MBA and law school)Origination feesNoneCosigner releaseAfter 36 consecutive on-time payments Honorable mentions: Why we recommend considering these 6 graduate student private loans Credible Best for Comparison Shopping 4.6 /5 View Rates About Credible’s graduate loans Credible doesn’t offer student loans; instead, it’s an online loan marketplace where you can find multiple grad school loans you’re eligible for. The graduate loans available vary by lender. Loan details Fixed rates (APR)3.99 – 17.99Variable rates (APR)4.13 – 17.99 MPOWER Best for International Students 4.6 /5 View Rates About MPOWER’s graduate loans MPOWER offers no-cosigner and no-collateral loans to international students who want to study abroad in the U.S. or Canada. Notable features include visa support and career services; students can build a U.S. credit history with on-time payments. MPOWER’s loans are applicable at any of the 500-plus schools within its program. Loan details Fixed rates (APR)13.98% – 17.98%Repayment terms10 yearsRepayment optionsInterest-only (in-school)Loan amounts$2,001 – $100,000Origination fees6.50%Cosigner releaseCosigners not required (but optional); release only through refinance ELFI Best Customer Service 4.5 /5 View Rates About ELFI’s graduate loans ELFI stands out for its excellent borrower experience. Each applicant is paired with a dedicated Student Loan Advisor for personalized support, and the lender consistently earns praise in online reviews for its knowledgeable and responsive team. Backed by a not-for-profit organization, ELFI also brings a mission-driven approach that sets it apart from for-profit lenders—making it a great fit for grad students who value both guidance and care. Loan details Fixed rates (APR)4.98% – 12.54%Variable rates (APR)4.98% – 12.54%Repayment terms5, 7, 10, or 15 yearsRepayment optionsFull, interest-only, flat, deferredStandard grace period6 monthsLoan amounts$1,000 – 100% of school-certified cost of attendanceOrigination feesNoneCosigner releaseOnly available through refinance PNC Best Rate Discount 3.6 /5 View Rates About PNC’s graduate loans PNC stands out for offering one of the most generous autopay discounts in the industry—a 0.50% interest rate reduction when you enroll in automatic payments. This can lead to meaningful long-term savings for grad students. While its rates may start higher than some competitors, the sizable discount makes PNC a compelling option if you’re confident in your ability to set up and maintain autopay. Loan details Fixed rates (APR)6.69% – 13.89%Variable rates (APR)6.69% – 13.89%Repayment terms5 – 15 yearsRepayment optionsFull, interest-only, deferredStandard grace period6 monthsLoan amounts$65,000 per year; maximum $225,000 total (federal + private loans combined)Origination feesNoneCosigner releaseAfter 48 consecutive on-time payments Earnest Best Features 4.7 /5 View Rates About Earnest graduate loans Earnest’s excellent benefits include a once-per-year option to skip a payment and a rate match program that offers an Amazon gift card if you find a better rate elsewhere. These borrower-friendly features, combined with flexible repayment options and a generous nine-month grace period, make Earnest a top choice for grad students who want a little more breathing room and some extra incentives along the way. Loan details Fixed rates (APR)4.11% – 15.90%Variable rates (APR)4.11% – 15.90%Repayment terms5, 7, 10, 12, or 15 yearsRepayment optionsFull, interest-only, flat, deferredStandard grace period9 monthsLoan amounts$1,000 – 100% of school-certified cost of attendanceOrigination feesNoneCosigner releaseNone Edly Best for Income-Based Repayment 3.9 /5 View Rates About Edly’s graduate loans Edly stands out for its unique repayment structure. Instead of a traditional fixed repayment schedule, Edly’s private student loans tie your payments to your income, offering flexibility if your earnings fluctuate after graduation. There’s no standard grace period, but the loan is considered repaid once you meet the earlier of 60 or 84 completed payments, repay 2.25 times the amount borrowed, or reach a 23% APR cap. Cosigner release is available after 12 consecutive on-time payments, providing a path to independent repayment over time. Loan details Fixed rates (APR)Earlier of 60 or 84 completed payments, 2.25x the borrowed amount, or 23% APRRepayment options60 payments or 2.25x borrowed amountStandard grace periodNoneLoan amounts$5,000 – $25,000Cosigner releaseAfter 12 consecutive on-time payments How to find the best graduate school loan for you When it comes to funding grad school, it’s best to start with federal student loans. Federal loans offer unique advantages tailored to students, making them a smart first choice. Once you’ve maxed out your federal loan options, it’s time to consider private loans to cover any remaining costs. With so many lenders offering competitive options, choosing the right one can feel overwhelming. Here’s what to look for in a private lender: Interest rates: Your rate will determine how much you repay over time. Look for lenders that offer competitive rates and options to choose between fixed and variable rates. Repayment terms and flexibility: Private loans vary widely in their repayment options. Some lenders allow you to make interest-only payments while in school, while others offer more flexible term lengths. Choosing a lender that lets you tailor your repayment to your income or career path can help make the loan more affordable. Cosigner release: If you’re applying with a cosigner, check whether the lender offers a release option. This feature allows you to remove your cosigner after making consistent, on-time payments for a set period, giving you full responsibility for the loan. Additional benefits: Some lenders offer rate discounts or member benefits, which can support you beyond just loan funding. Consider these extras a bonus if they align with your post-grad goals. Taking the time to compare these features can help you find a lender that matches your needs, making it easier to manage school costs and future finances. What can graduate student loans be used for? Graduate student loans can cover many education-related expenses beyond just tuition. Here’s how they’re often used: Tuition and fees: This is usually the largest cost, especially for law, medical, or MBA programs, which often come with higher tuition rates. Books and supplies: Textbooks, lab supplies, and other necessary materials are eligible expenses. Housing and meal plans: Whether you live on or off campus, loan funds can be used to help cover rent, utilities, and meal expenses. Necessary equipment: This could include a new laptop, software, or other tech that you’ll need for coursework or projects. Graduate programs can vary in cost. For example, medical and dental school typically come with higher tuition and associated costs, meaning you may need to borrow more than a student in a general master’s program. Specialized programs often require materials and higher travel expenses for internships or clinical rotations, while research-based programs may have additional fees related to lab work or project funding. What is the maximum amount I can borrow for graduate school? Federal student loans have annual and aggregate (lifetime) borrowing limits. For Direct Unsubsidized Loans, graduate students can borrow up to $20,500 per year, with an aggregate cap of $138,500 (including any amount borrowed for undergraduate studies). Graduate PLUS Loans can cover up to the full cost of attendance, minus any other financial aid you receive, with no aggregate limit. This can make them a good option for high-cost programs if you’ve reached other federal loan limits. If you reach your federal loan limits and still need additional funding, private student loans can help bridge the gap. Private lenders typically allow you to borrow up to your full cost of attendance as well, but the exact limit will depend on your credit profile, your school’s cost, and the lender’s policies. Here’s what to keep in mind: Credit-based limits: Unlike federal loans, private loan amounts are generally based on your creditworthiness and that of your cosigner, if you have one. Strong credit or a creditworthy cosigner may give you access to larger loan amounts and lower rates. Program-specific limits: Some private lenders may cap loan amounts based on the program’s total cost or limit funding for particular programs. High-cost programs like medical or law school might have higher borrowing limits or specialized loan options to cover the significant expenses associated with these fields. Aggregate caps and borrowing maximums: While some private lenders don’t impose aggregate loan limits, others might set a lifetime borrowing cap, especially if you’ve taken out multiple loans through the same lender over time. It’s worth checking each lender’s policies. Private loans offer flexibility in helping cover costs beyond federal loan limits, but remember that they may carry higher interest rates and fewer repayment protections. Make sure to consider your borrowing needs and future ability to repay before taking on private loans. How do I apply for graduate student loans? Applying for graduate student loans can be a lengthy process, so it’s important to start early. 1. Fill out the FAFSA The Free Application for Federal Student Aid (FAFSA) is an important form for eligible students to complete before the deadline each year. This form will help determine how much financial aid you’re eligible to receive and is a requirement if you’re borrowing federal student loans for graduate school. 2. Exhaust federal loan options If needed, take out all Direct Unsubsidized Loans available to you for the school year. This ensures you can lock in important loan benefits and fixed interest rates. 3. Consider other funding sources If you have college savings or plan to work while you’re in school, be sure to factor that money into your budget. This will show you how much more you need to borrow to pay for tuition, housing, and books or equipment for class. 4. Apply for a Grad PLUS or private loan Once you know how much you need beyond Direct Unsubsidized Loans (if anything), you can begin applying for other options, such as a Grad PLUS Loan or private graduate school loan. Grad PLUS loans may come with more benefits and the potential for loan forgiveness, but a private loan could have a better interest rate and lower fees. Many private lenders offer a quick online application or prequalification process, which will give you an answer in just a few minutes. After you find the loan and terms that work best for you, you can proceed with your loan of choice. 5. Add a cosigner In many cases, adding a cosigner to your private loan can be helpful if not required. A creditworthy cosigner can unlock better loan terms and lower rates and enable you to borrow the full amount you need for school. 6. Get funded Once you’ve completed all necessary forms for your new lender and your school has certified the amount, your lender will send your loan funds to the school. After the school applies these funds to outstanding charges, such as your tuition bill, it will refund the difference to you. How does repayment of graduate student loans work? Repayment starts after you finish your program, with federal and private loans each offering different repayment options. Federal loans generally offer more flexible plans and protections, while private loans tend to have fixed terms and fewer options for adjusting your payments. Federal graduate student loan repayment Federal loan repayment offers a variety of options to help make monthly payments manageable. If you don’t select a plan, you’ll automatically be enrolled in the standard repayment plan with fixed payments over 10 years. However, federal loan borrowers can switch to a different plan anytime. Repayment planLength (years)Monthly paymentStandard10FixedGraduated10 – 30Starts low, increases every 2 yearsExtendedUp to 25Fixed or graduatedSAVE10 – 255% –10% of discretionary incomePAYE2010% of discretionary incomeREPAYE20 – 2510% of discretionary incomeIncome-Based (IBR)2510% – 15% of discretionary incomeIncome-Contingent25Lower of 20% of income or 12-year plan amountIncome-Sensitive10Based on annual income For those with income-driven plans, monthly payments adjust based on your income and family size. Some borrowers may also qualify for loan forgiveness if they work in public service or meet certain requirements under these plans. Private graduate student loan repayment Repayment terms for private loans vary by lender but typically range from five to 15 years. Unlike federal loans, private student loans don’t offer income-driven repayment plans or forgiveness options. You’ll usually need to make fixed monthly payments, which are set to pay off the loan within the chosen term. DetailAmountLoan amount$40,000Interest rate6%Repayment term10 yearsMonthly payment$444Total cost over loan term$53,280 In this example, a $40,000 loan at a 6% interest rate over 10 years results in a fixed monthly payment of about $444. Over the life of the loan, you’d pay around $13,280 in interest. If your income or expenses change, refinancing might be an option to adjust your payment terms, though there are typically fewer options than with federal loans. While federal loans offer greater flexibility and protection, private loans can be a useful supplement if you reach federal loan limits. It’s best to weigh each lender’s terms and repayment options to find the best fit for your financial situation. FAQ Can you get Subsidized Loans for grad school? No, Subsidized Loans are not available for graduate students. The Federal Direct Subsidized Loan program is only available to undergraduate students who demonstrate financial need. Graduate students can, however, apply for Federal Direct Unsubsidized Loans and Grad PLUS Loans, which don’t require proof of financial need but accrue interest while you are in school. Can you take out a student loan for a master’s degree? Yes. Graduate students can access Federal Direct Unsubsidized Loans and Grad PLUS Loans to help cover the costs of their education. Private student loans are available from various lenders, though terms and interest rates may vary. Can student loans be forgiven for graduate students? Yes, under certain conditions. Programs such as Public Service Loan Forgiveness (PSLF) and IDR plans can lead to forgiveness of the remaining loan balance after making a required number of qualifying payments. PSLF is available to those who work in qualifying public service jobs, while IDR plans are available to borrowers who have high debt relative to their income. It’s essential to understand the eligibility requirements and maintain proper documentation to take advantage of these forgiveness programs. How we selected the best graduate student loans LendEDU evaluates student loan lenders to help readers find the best student loans. Our latest analysis reviewed 725 data points from 25 lenders and financial institutions, with 29 data points collected from each. This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives. These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once. Recap of the best graduate student loans LenderBest forOur ratingDept. of Education Direct Unsubsidized LoansAll graduate loans5.0/5Sallie MaeMedical school; Law school4.8/5College AveDental school; Pharmacy school; Nursing and health professions5.0/5SoFiCertificate programs4.7/5AscentVeterinary school; Public administration and social work4.4/5Citizens BankMBA; Teachers4.7/5CredibleComparison shopping4.6/5MPOWERInternational students4.6/5ELFICustomer service4.5/5PNCRate discounts3.6/5EarnestFeatures4.7/5EdlyIncome-based repayment3.9/5