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.
Information advertised valid as of 06/15/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s).
All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit.
College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access
College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC
Information advertised valid as of 06/15/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s).
All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit.
College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access
College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC
Information advertised valid as of 06/15/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s).
All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit.
College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access
College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.
1. Loan application must be submitted to see available rates.
2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.
4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered.
7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Information advertised valid as of 07/02/2026.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae loans are made by Sallie Mae Bank.
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.
1. Loan application must be submitted to see available rates.
2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.
4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered.
7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Information advertised valid as of 07/02/2026.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae loans are made by Sallie Mae Bank.
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.
1. Loan application must be submitted to see available rates.
2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.
4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered.
7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Information advertised valid as of 07/02/2026.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae loans are made by Sallie Mae Bank.
Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent’s Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 7/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.85% APR, with 57 payments of $48.75 while in-school/grace, 60 payments of $192.65 during the repayment term, and a total cost of $14,338.61.
* $25 Minimum Payment: 6.48% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $233.37 during the repayment term, and a total cost of $15,427.06.
* Deferred Repayment: 6.67% APR, with no payment while in-school/grace, 60 payments of $269.21 during the repayment term, and a total cost of $16,137.16.
* Immediate Repayment: 3.60% APR, with 60 payments of $182.37, and a total cost of $10,942.30.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 16.51% APR, with 57 payments of $137.5 while in-school/grace, 180 payments of $150.41 during the repayment term, and a total cost of $34,914.43.
* $25 Minimum Payment: 15.03% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $256.16 during the repayment term, and a total cost of $47,530.48.
* Deferred Repayment: 15.23% APR, with no payment while in-school/grace, 180 payments of $290.4 during the repayment term, and a total cost of $51,470.36.
* Immediate Repayment: 16.26% APR, with 180 payments of $148.68, and a total cost of $26,759.59.
Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent’s Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 7/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.85% APR, with 57 payments of $48.75 while in-school/grace, 60 payments of $192.65 during the repayment term, and a total cost of $14,338.61.
* $25 Minimum Payment: 6.48% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $233.37 during the repayment term, and a total cost of $15,427.06.
* Deferred Repayment: 6.67% APR, with no payment while in-school/grace, 60 payments of $269.21 during the repayment term, and a total cost of $16,137.16.
* Immediate Repayment: 3.60% APR, with 60 payments of $182.37, and a total cost of $10,942.30.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 16.51% APR, with 57 payments of $137.5 while in-school/grace, 180 payments of $150.41 during the repayment term, and a total cost of $34,914.43.
* $25 Minimum Payment: 15.03% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $256.16 during the repayment term, and a total cost of $47,530.48.
* Deferred Repayment: 15.23% APR, with no payment while in-school/grace, 180 payments of $290.4 during the repayment term, and a total cost of $51,470.36.
* Immediate Repayment: 16.26% APR, with 180 payments of $148.68, and a total cost of $26,759.59.
Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent’s Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 7/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.85% APR, with 57 payments of $48.75 while in-school/grace, 60 payments of $192.65 during the repayment term, and a total cost of $14,338.61.
* $25 Minimum Payment: 6.48% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $233.37 during the repayment term, and a total cost of $15,427.06.
* Deferred Repayment: 6.67% APR, with no payment while in-school/grace, 60 payments of $269.21 during the repayment term, and a total cost of $16,137.16.
* Immediate Repayment: 3.60% APR, with 60 payments of $182.37, and a total cost of $10,942.30.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 16.51% APR, with 57 payments of $137.5 while in-school/grace, 180 payments of $150.41 during the repayment term, and a total cost of $34,914.43.
* $25 Minimum Payment: 15.03% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $256.16 during the repayment term, and a total cost of $47,530.48.
* Deferred Repayment: 15.23% APR, with no payment while in-school/grace, 180 payments of $290.4 during the repayment term, and a total cost of $51,470.36.
* Immediate Repayment: 16.26% APR, with 180 payments of $148.68, and a total cost of $26,759.59.
Table of Contents
- Direct Unsubsidized Loans loans for graduate school
- Should you supplement with a Grad PLUS loan?
- 5 best private graduate student loans by program
- Honorable mentions: Why we recommend considering these 4 graduate student private loans
- How to find the best graduate school loan for you
- What can graduate student loans be used for?
- What is the maximum amount I can borrow for graduate school?
- How do I apply for graduate student loans?
- How does repayment of graduate student loans work?
- FAQ
- How we selected the best graduate student loans
- Recap of the best graduate student loans
Direct Unsubsidized Loans 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.
Should you supplement with a Grad PLUS loan?
Grad students used to be eligible for a second kind of federal loan: Grad PLUS Loans. However, new borrowers can no longer take out Grad PLUS program loans after July 1, 2026. Existing borrowers in qualifying programs may still access them under transitional rules.
In many cases, a private student loan might have still been better than a Grad PLUS loan. Why?
- Grad PLUS loans had higher interest rates than Direct Unsubsidized loans, so you might qualify for a lower rate with a private lender.
- Grad PLUS loans had a high loan fee, while many of the best private grad student loans have no origination fees.
- The only way to remove an endorser (cosigner) was to consolidate or refinance the loan; there isn’t a cosigner release option like many private lenders offer.
Grad PLUS Loans did still carry typical federal loan benefits, but their higher all-around cost might made them less appealing than some of the private loans featured below.
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.
Best for Dental School, Pharmacy School, Nursing & Health Professions: College Ave
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 terms | 5, 8, 10, or 15 years |
| Repayment options | Full principal and interest, interest only, flat ($25/month during school), deferred |
| Standard grace period | 9 months |
| Loan amounts | $1,000 – 100% of school-certified cost of attendance |
| Origination fees | None |
| Cosigner release | Halfway 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) |
| Application | Apply online in under 3 minutes |
Best for Medical School & Law School: Sallie Mae
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 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.
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.
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 terms | 10 or 15 years |
| Repayment options | Deferred, fixed ($25/month during school), interest repayment |
| Standard grace period | 6 months |
| Loan amounts | $1,000 – 100% of school-certified cost of attendance |
| Origination fees | None |
| Cosigner release | After 12 on-time payments |
| Application | Complete your application in 3 steps |
Best for Certificate Programs: SoFi
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 – 14.83 with autopay |
| Variable rates (APR) | 4.64 – 15.86 with autopay |
| Repayment terms | 5, 7, 10, or 15 years |
| Repayment options | Interest only, immediate, deferred, and more |
| Standard grace period | 6 months |
| Loan amounts | $1,000 – 100% of school-certified cost of attendance |
| Origination fees | None |
| Cosigner release | After 12 consecutive on-time paymentsⓘ |
| Application | See rates in minutes |
Best for Veterinary School, Public Administration & Social Work: Ascent
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 – 13.76 |
| Variable rates (APR) | 6.86 – 14.02 |
| Repayment terms | 5, 7, 10, 12, 15, or 20 years |
| Repayment options | Minimum ($25/month during school), interest only, immediate, deferred |
| Standard grace period | 9 months |
| Loan amounts | $2,001 – $400,000 (total) |
| Origination fees | None |
| Cosigner release | After 12 consecutive on-time payments |
| Application | Check your rate in under 3 minutes |
Great for MBA & Teachers: Citizens Bank
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 terms | 5, 7, 10, 15, or 20 years |
| Repayment options | Immediate, interest only, deferred |
| Standard grace period | 6 months |
| Loan amounts | $1,000 – $225,000 ($300,000 max for MBA and law school) |
| Origination fees | None |
| Cosigner release | After 36 consecutive on-time payments |
| Application | Get a rate quote in about 2 minutes |
Honorable mentions: Why we recommend considering these 4 graduate student private loans
Credible
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 – 17.99 |
| Variable rates (APR) | 4.13 – 17.99 |
MPOWER
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 terms | 10 years |
| Repayment options | Interest-only (in-school) |
| Loan amounts | $2,001 – $100,000 |
| Origination fees | 6.50% |
| Cosigner release | Cosigners not required (but optional); release only through refinance |
ELFI
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 terms | 5, 7, 10, or 15 years |
| Repayment options | Full, interest-only, flat, deferred |
| Standard grace period | 6 months |
| Loan amounts | $1,000 – 100% of school-certified cost of attendance |
| Origination fees | None |
| Cosigner release | Only available through refinance |
Earnest
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 terms | 5, 7, 10, 12, or 15 years |
| Repayment options | Full, interest-only, flat, deferred |
| Standard grace period | 9 months |
| Loan amounts | $1,000 – 100% of school-certified cost of attendance |
| Origination fees | None |
| Cosigner release | None |
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.
- 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.
- 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.
- 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.
- Apply for a private graduate student loan. Once you know how much you need, you can begin applying for other options, such as a private graduate school loan.
- A private loan could have a better interest rate and lower fees than a Grad PLUS loan offers. 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.
- 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.
- 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 plan | Length (years) | Monthly payment |
| Standard | 10 | Fixed |
| Graduated | 10 – 30 | Starts low, increases every 2 years |
| Extended | Up to 25 | Fixed or graduated |
| SAVE | 10 – 25 | 5% –10% of discretionary income |
| PAYE | 20 | 10% of discretionary income |
| REPAYE | 20 – 25 | 10% of discretionary income |
| Income-Based (IBR) | 25 | 10% – 15% of discretionary income |
| Income-Contingent | 25 | Lower of 20% of income or 12-year plan amount |
| Income-Sensitive | 10 | Based 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.
| Detail | Amount |
| Loan amount | $40,000 |
| Interest rate | 6% |
| Repayment term | 10 years |
| Monthly payment | $444 |
| Total 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 which does not 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 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 private graduate student loans
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.
1. Loan application must be submitted to see available rates.
2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.
4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered.
7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Information advertised valid as of 07/02/2026.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae loans are made by Sallie Mae Bank.
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.
1. Loan application must be submitted to see available rates.
2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.
4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered.
7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Information advertised valid as of 07/02/2026.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae loans are made by Sallie Mae Bank.
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.
1. Loan application must be submitted to see available rates.
2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.
4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered.
7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Information advertised valid as of 07/02/2026.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae loans are made by Sallie Mae Bank.
Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent’s Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 7/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.85% APR, with 57 payments of $48.75 while in-school/grace, 60 payments of $192.65 during the repayment term, and a total cost of $14,338.61.
* $25 Minimum Payment: 6.48% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $233.37 during the repayment term, and a total cost of $15,427.06.
* Deferred Repayment: 6.67% APR, with no payment while in-school/grace, 60 payments of $269.21 during the repayment term, and a total cost of $16,137.16.
* Immediate Repayment: 3.60% APR, with 60 payments of $182.37, and a total cost of $10,942.30.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 16.51% APR, with 57 payments of $137.5 while in-school/grace, 180 payments of $150.41 during the repayment term, and a total cost of $34,914.43.
* $25 Minimum Payment: 15.03% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $256.16 during the repayment term, and a total cost of $47,530.48.
* Deferred Repayment: 15.23% APR, with no payment while in-school/grace, 180 payments of $290.4 during the repayment term, and a total cost of $51,470.36.
* Immediate Repayment: 16.26% APR, with 180 payments of $148.68, and a total cost of $26,759.59.
Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent’s Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 7/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.85% APR, with 57 payments of $48.75 while in-school/grace, 60 payments of $192.65 during the repayment term, and a total cost of $14,338.61.
* $25 Minimum Payment: 6.48% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $233.37 during the repayment term, and a total cost of $15,427.06.
* Deferred Repayment: 6.67% APR, with no payment while in-school/grace, 60 payments of $269.21 during the repayment term, and a total cost of $16,137.16.
* Immediate Repayment: 3.60% APR, with 60 payments of $182.37, and a total cost of $10,942.30.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 16.51% APR, with 57 payments of $137.5 while in-school/grace, 180 payments of $150.41 during the repayment term, and a total cost of $34,914.43.
* $25 Minimum Payment: 15.03% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $256.16 during the repayment term, and a total cost of $47,530.48.
* Deferred Repayment: 15.23% APR, with no payment while in-school/grace, 180 payments of $290.4 during the repayment term, and a total cost of $51,470.36.
* Immediate Repayment: 16.26% APR, with 180 payments of $148.68, and a total cost of $26,759.59.
Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent’s Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 7/1/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 60-months (variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 5.85% APR, with 57 payments of $48.75 while in-school/grace, 60 payments of $192.65 during the repayment term, and a total cost of $14,338.61.
* $25 Minimum Payment: 6.48% APR, with 57 payments of $25.00 while in-school/grace, 60 payments of $233.37 during the repayment term, and a total cost of $15,427.06.
* Deferred Repayment: 6.67% APR, with no payment while in-school/grace, 60 payments of $269.21 during the repayment term, and a total cost of $16,137.16.
* Immediate Repayment: 3.60% APR, with 60 payments of $182.37, and a total cost of $10,942.30.
The following examples for a $10,000 loan show a 48-month in-school period plus 9 months of grace prior to a full repayment term for 180-months (highest variable rate), with examples of (i) Interest Only payments, (ii) $25 Minimum payments, (iii) Deferred repayment, and (iv) Immediate Repayment options.
* Interest Only Repayment: 16.51% APR, with 57 payments of $137.5 while in-school/grace, 180 payments of $150.41 during the repayment term, and a total cost of $34,914.43.
* $25 Minimum Payment: 15.03% APR, with 57 payments of $25.00 while in-school/grace, 180 payments of $256.16 during the repayment term, and a total cost of $47,530.48.
* Deferred Repayment: 15.23% APR, with no payment while in-school/grace, 180 payments of $290.4 during the repayment term, and a total cost of $51,470.36.
* Immediate Repayment: 16.26% APR, with 180 payments of $148.68, and a total cost of $26,759.59.
Information advertised valid as of 06/15/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s).
All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit.
College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access
College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC
Information advertised valid as of 06/15/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s).
All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit.
College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access
College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC
Information advertised valid as of 06/15/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s).
All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit.
College Ave Student Loan Servicing, LLC, NMLS#1263410 NMLS Consumer Access
College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC
About our contributors
-
Written by Timothy Moore, CFEI®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.
-
Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.
-
Reviewed by Catherine Valega, CFP®, CAIA®Catherine Valega, CFP®, CAIA®, founded Green Bee Advisory LLC to help women, philanthropists, investors, and small businesses build, manage, and preserve their financial resources. She's been practicing financial planning for more than 20 years.