Best Private Student Loan Lenders 2017

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC, or The Middlefield Banking Company, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

1. As certified by your school and less any other financial aid you might receive. Minimum $2,000.

2. Autopay - The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.

3. This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 6.5% variable Annual Percentage Rate ("APR"): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $154.95 while in the repayment period, for a total amount of payments of $16,224.78. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

4. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7% variable Annual Percentage Rate ("APR"): 96 monthly payments of $179.28 while in the repayment period, for a total amount of payments of $17,211.20. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 7/1/2017. Variable interest rates may increase after consummation.

WE RESERVE THE RIGHT TO MODIFY OR DISCONTINUE (IN WHOLE OR IN PART) THIS LOAN PROGRAM AND ITS ASSOCIATED SERVICES AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK WWW.COLLEGEAVESTUDENTLOANS.COM FOR THE MOST UP-TO-DATE INFORMATION.

1. Aggregate loan limits apply.

2. At least a 3.0 GPA or equivalent qualifies for a one-time cash-reward of 1% of the loan amount of each new Discover student loan. Reward redemption period is limited. Please visit https://www.discover.com/student-loans/policies/rewards-for-good-grades-policy.html for any applicable reward terms and conditions.

3. The interest rate ranges represent the lowest and highest interest rates offered on Discover student loans, including Undergraduate, Graduate, Health Professions, Law and MBA Loans. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable Margin percentage. The margin is based on your credit evaluation at the time of application and does not change. For variable interest rate loans, the 3-Month LIBOR is 1.375% as of July 1, 2017. Discover Student Loans will adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the “interest rate change date”), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. Please visit https://www.discover.com/student-loans/interest-rates.html for more information about interest rates.

View specific private student loan disclosures directly from Discover Student Loans here.

PNC Student Loans Private Student Loan Disclosures

Annual percentage rate (APR) is a measure of what a loan will cost and takes into account the interest rate, loan amount, repayment term and the timing of all payments. Variable rate APRs currently range from 4.18% APR to 11.26% APR. Fixed rate APRs currently range from 6.19% APR to 12.99% APR.

During repayment, an interest rate reduction of 0.50% is available for automated payments once you are no longer attending school on at least a half-time basis. You must be making scheduled payments through servicer American Education Services (AES) that include both principal and interest from your checking or savings account. If automatic payment is discontinued, you will no longer receive an automatic payment discount. Discount may be suspended during periods of forbearance. A federal regulation limits the number of transfers that may be made from a savings or money market account. Please contact your financial institution for more information on transfer limitations on savings accounts.

View specific private student loan disclosures directly from PNC here.​

Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. The Ascent Program for Funding Education may be funded by Richland State Bank (RSB) or Turnstile Capital Management, LLC (TCM), which are not affiliated entities. Certain restrictions and limitations may apply. The Ascent Program for Funding Education products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. All loan products may not be available in certain jurisdictions. Other terms and conditions apply. The Ascent Program for Funding Education is a federally registered trademark of TCM and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.

1. Ascent rates are effective as of 09/01/2017. The current LIBOR is 1.235%, which may adjust monthly. Your interest rate may increase or decrease, based on LIBOR monthly changes. Competitive rates calculated monthly at the time of loan approval.
- Ascent Independent non-cosigned loan: Variable rate loans are based on a margin between 2.75% and 12.25% plus the 1-Month London Interbank Offered Rate (LIBOR), rounded to the nearest 1/100th of a percent, resulting in an APR range between 3.99% and 12.74%. Fixed rate loans have an APR range between 5.37% and 14.36%. Click here for Ascent Independent non-cosigned loan current rates and repayment examples.
- Ascent Tuition cosigned loan: Variable rate loans are based on a margin between 2.25% and 9.00% plus the 1-Month London Interbank Offered Rate (LIBOR) rounded to the nearest 1/100th of a percent resulting in an APR range between 3.49% and 9.74%. Fixed rate loans have an APR range between 4.87% and 11.35%. Click here for Ascent Tuition cosigned loan current rates and repayment examples.

2. Payments may be deferred. Subject to lender discretion, forbearance and/or deferment options may be available for borrowers who are encountering financial distress.

3. Making interest only or partial interest payments while in school will not reduce the principal balance of the loan. There are three (3) flexible in-school repayment options that include fully deferred, interest only and minimum repayment.. 

Click here for Ascent Independent non-cosigned loan current rates and repayment examples.
Click here for Ascent Tuition cosigned loan current rates and repayment examples.

4. Flexible repayment plans may be offered with up to a fifteen (15) year repayment term. *Ascent borrowers who choose a fixed rate option may ONLY select a loan term of five (5) or twelve (12) years (60 or 144 months, respectively). For certain loans with low balances, the minimum monthly payment amount may cause the loan amortization schedule to be less than the selected term. 

Click here for Ascent Independent non-cosigned loan current rates and repayment examples.
Click here for Ascent Tuition cosigned loan current rates and repayment examples.

5. Interest rate reduction of 0.25% for enrollment in automatic debit applies only when the borrower and/or cosigner signs up for automatic payments and the regularly scheduled, current amount due is successfully deducted from the designated bank account each month. Interest rate reduction(s) will not apply during periods when no payment is due, including periods of In-School, Deferment, Grace or Forbearance. If you have two (2) returned payments for Nonsufficient Funds, we may cancel your automatic debit enrollment and you will lose the 0.25% interest rate reduction. You will then need to requalify and re-enroll in automatic debit payments in order to receive the 0.25% interest rate reduction.

6. All applicants (individual and cosigner) are required to complete a brief online financial literacy course as part of the application process to be eligible for funding.

7. Eligibility, loan amount and other loan terms are dependent on a number of factors, including: loan product, other financial aid, creditworthiness, school, program, graduation date, major, cost of attendance and other factors. Aggregate loan limits may apply. The cost of attendance is determined and certified by the educational institution.

8. The legal age for entering into contracts is eighteen (18) years of age in every state except Alabama where it is nineteen (19) years old, Nebraska where it is nineteen (19) years old (only for wards of the state), and Mississippi and Puerto Rico where it is twenty-one (21) years old.

1. Student Loan Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of July 1, 2017, the one-month LIBOR rate is 1.22%. Variable interest rates range from 3.12%-11.22% (3.12%-11.12% APR) and will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 5.25%-11.99% (5.25% - 11.75% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of the loan.

Citizens Bank Student Loan Eligibility: Borrowers must be enrolled at least half-time in a degree-granting program at an eligible institution. Borrowers must be a U.S. citizen or permanent resident or an international borrower with a creditworthy U.S. citizen or permanent resident co-signer. For borrowers who have not attained the age of majority in their state of residence, a co-signer will be required. Citizens Bank reserves the right to modify or discontinue these benefits at any time. Any changes to these benefits will not affect loans issued prior to the change date. Rates subject to change. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and – if applicable – self-certification form, school certification of loan amount, and student’s enrollment at a Citizens Bank-participating school.

Please Note: International Students are not eligible for the multi-year approval feature.

2. Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.

3. Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.

Co-signer Release: Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest. For the purpose of the application for co-signer release, on-time payments are defined as payments received within 15 days of the due date. Interest only payments do not qualify. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release. Borrowers must complete an application for release and provide income verification documents as part of the review. Borrowers who use deferment or forbearance will need to make 36 consecutive on-time payments after reentering repayment to qualify for release. The borrower applying for co-signer release must be a U.S. citizen or permanent resident. If an application for co-signer release is denied, the borrower may not reapply for co-signer release until at least one year from the date the application for co-signer release was received. Terms and conditions apply.

4. Graduate Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of July 1, 2017, the one-month LIBOR rate is 1.22%. Variable interest rates range from 3.12% - 10.87% (3.12% - 10.77% APR) and will fluctuate over the term of your loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 5.74% - 11.75% (5.74% - 11.45% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. You will be presented with an Application Disclosure and an Approval Disclosure within the application process before you accept the terms and conditions of your loan.

5. Business/Law Degree Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of July 1, 2017, the one-month LIBOR rate is 1.22%. Variable interest rates range from 3.12% - 9.97% (3.12% - 9.73% APR) and will fluctuate over the term of your loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 5.25% - 10.99% (5.25% - 10.75% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. You will be presented with an Application Disclosure and an Approval Disclosure within the application process before you accept the terms and conditions of your loan.

6. Medical/Dental Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of July 1, 2017, the one-month LIBOR rate is 1.22%. Variable interest rates range from 3.12% - 9.47% (3.12% - 9.27% APR) and will fluctuate over the term of your loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 5.25% - 10.49% (5.25% - 10.26% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. You will be presented with an Application Disclosure and an Approval Disclosure within the application process before you accept the terms and conditions of your loan.

7. Parent Rate Disclosure: Fixed interest rates range from 6.64% - 7.24% (6.64% - 7.24% APR) based on applicable terms as of May 31, 2017. 6.74% APR requires a 10-year repayment term and includes our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. For example, a $10,000 loan with a 5-year term and immediate repayment at 6.64% APR will result in 60 monthly payments of $193.09. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. The federal rate of 7.00% applies to PLUS loans first disbursed between 7/1/17 and 6/30/18.

Citizens Bank Student Loan for Parents Eligibility Information: Borrowers must be a creditworthy U.S. citizen or permanent resident residing in the U.S. and must have attained the age of majority in their state of residence. The student whose education expenses will be paid for with the loan proceeds must be a U.S. citizen or permanent resident and must be enrolled at least half-time in a degree granting program at a Citizens Bank-participating school. Citizens Bank reserves the right to modify eligibility criteria at anytime. Interest rate ranges subject to change. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens Bank-participating school.

Multi-year approval funds available for future use are subject to a soft credit inquiry at time of your next request to verify continued eligibility. After we make the initial Loan to you, we may refuse to allow you to take out additional loans under the multi-year approval feature, terms and conditions will be outlined in your promissory note.

8. Health Profession Aggregate limits disclosure: Aggregate limits up to $350,000 for MD, DMD/DDS, OD, DO, PDM, and DVM degrees. Aggregate limits up to $180,000 for cardiac perfusion, chiropractic, cytotechnology, nurse practitioner, occupational therapy, pharmacy, physical therapy, and physician assistant degrees.

*Average savings are calculated using the 2016/2017 Award Year Federal Direct PLUS Loan program reporting (as of 5/03/2017 for quarter ending 12/31/2016 not including Grad PLUS) of originations of ~$11.1 billion to 740,097 borrowers through 769,597 loans with an average loan size of $15,035.30. Average fee savings is possible with either private student loan option we offer, including the Citizens Bank Student Loan® or the Citizens Bank Student Loan® for Parents.