Top Sallie Mae Alternatives and Competitors for Student Loans [2025]

Sallie Mae might be one of the biggest names in private student loans, but that doesn’t mean it’s the best fit for everyone. It holds 64% of the private student loan market, yet reviews consistently flag poor customer service as a major drawback. If that gives you pause, you’ve got options.

We’ve rounded up the top Sallie Mae alternatives—lenders that offer strong customer support, flexible repayment options, and unique perks. Whether you’re looking for a loan with fewer fees, better cosigner policies, or member-only benefits, there’s likely a better match out there for you.

Keep reading to see how they stack up—and which might be the smarter choice for your education and finances.

Table of Contents

1. Alternatives to Sallie Mae student loans
   1. College Ave
   2. Earnest
   3. SoFi
2. Sallie Mae student loan pros and cons
3. How to choose private student loans
4. FAQ

Alternatives to Sallie Mae student loans

Sallie Mae offers a wide range of private student loans for undergraduates, graduates, and even specialized programs like bar study or dental residencies. It’s known for flexible in-school payment options and a relatively short cosigner release period. But despite all that, many borrowers are frustrated with the poor customer service and lack of transparency—especially when it comes to repayment flexibility and prequalification.

If you’re comparing lenders, it’s worth looking at companies that match or beat Sallie Mae on key features—while offering a smoother experience. The lenders below stand out for things like better customer support, more flexible repayment perks, or extra benefits that Sallie Mae just doesn’t provide.

Here are the top alternatives and why they might be a better fit for you.

College Ave

Best Overall

5.0 _/5

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Why it’s a good alternative

College Ave was founded by former Sallie Mae executives—but it’s designed to offer a better customer experience. The application takes just minutes, and borrowers consistently praise its intuitive platform and responsive support team. While Sallie Mae gets just 1.3/5 stars on TrustPilot, College Ave earns a strong 4.5/5.

One downside? Its cosigner release policy isn’t as borrower-friendly—it typically requires more than half the repayment term of on-time payments before you can apply. Sallie Mae, by comparison, offers release after just 12 months. Still, for overall ease of use, flexible loan types, and borrower satisfaction, College Ave remains our top pick.

Details

Variable rates (APR)	5.59% – 16.85%
Fixed rates (APR)	4.39% – 16.49%
Loan amounts	$1,000 – 100% of the school-certified cost of attendance
Repayment terms	5, 8, 10, or 15 years

Earnest

Best for Large Loans

4.7 _/5

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Why it’s a good alternative

Earnest stands out for high loan limits, flexible terms, and borrower-friendly policies. It’s one of the few lenders offering private loans to international students (with a U.S. co-signer), and it supports a wide range of degree programs, including medical, law, and business school.

You’ll also get perks Sallie Mae doesn’t offer—like a longer 9-month grace period after graduation and the ability to skip one payment a year. It’s a solid choice if you need to borrow more or want some breathing room with repayment.

Details

Variable rates (APR)	5.62% – 16.20%
Fixed rates (APR)	4.11% – 15.90%
Loan amounts	$1,000 – 100% of the school-certified cost of attendance
Repayment terms	5, 7, 10, 12, or 15 years

SoFi

Best for Member Benefits

4.7 _/5

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Why it’s a good alternative

SoFi goes beyond student loans. As a full-service financial platform, it offers perks you won’t find with Sallie Mae—like career coaching, financial planning, rate discounts, and exclusive member events.

If you want your lender to feel more like a financial partner, SoFi is worth a look. Plus, it offers competitive rates and no fees, making it a great fit if you’re planning for long-term financial goals alongside your education.

Details

Variable rates (APR)	5.99% – 14.30%
Fixed rates (APR)	4.44% – 14.30%
Loan amounts	$1,000 – 100% of certified costs
Repayment terms	5, 7, 10, or 15 years

Sallie Mae student loan pros and cons

Here are Sallie Mae’s pros and cons to consider before choosing them as your lender.

Pros

• Large selection of student loans

  Sallie Mae offers loans for several types of schools as well as transition periods, including studying for the bar.

• Options for part-time students

  Students who can only attend school part-time can still get loans for their education.

• Cosigners can be released after 12 months

  Many lenders require cosigners to stay on loans for much longer.

• No application fees or origination fees

  No hidden fees and no prepayment fees.

• Deferred payment options while in school

  Sallie Mae offers four payment options while you’re in school, including full deferment.

Cons

• Customer service is lacking

  Sallie Mae scores 1.08 out of 5 with the Better Business Bureau and 1.3 out of 5 with TrustPilot.

• No prequalified rates

  Unlike other lenders, Sallie Mae does not offer soft credit pulls.

• Limited repayment terms

  Other lenders offer more repayment options and flexibility.

Borrowers looking for lenders with excellent customer service would appreciate Earnest, which has 4.6 out of 5 stars on TrustPilot. And borrowers who want more flexibility with their loan terms might prefer College Ave or Ascent as their lender.

How to choose private student loans

Selecting the best private student loan company for you will depend on a few factors. Many private loan companies are available, and some will be better than others, depending on your particular situation. 

For example, if you want to be a nurse, some private student loan companies offer loans for nursing school, while others don’t. If you need to use a cosigner for your student loan, some companies have better policies for cosigners than others. 

If customer service is important to you and you can only call on the weekends, make sure the lender you choose is available when you are.

If you’re considering Sallie Mae for a new student loan

If you’re considering becoming a Sallie Mae customer, here’s what to research.

• Interest rates and terms: Find out Sallie Mae’s interest rates and loan terms for your loan. Check what discounts you might be eligible for, such as autopay discounts. Make sure you understand its policies if you have financial hardships.
• Lender benefits: Many lenders offer benefits, such as career coaching and educational videos. See whether Sallie Mae’s benefits are a fit for your personal needs and goals.
• Loan limits: If you need to borrow a certain amount for school, make sure Sallie Mae offers loans for that amount. Also, find out whether you meet its eligibility requirements, including having a good credit score, before applying. 
• Impact on credit: Remember that Sallie Mae, unlike other lenders on this list, does a hard pull of your credit, which might lower your credit score.

If you already have Sallie Mae student loans

If you already have Sallie Mae student loans and want an alternative, you can apply to refinance your loans with another lender. Before choosing a new lender, use the same methods above, including researching lenders, learning about fees, and reading customer service reviews.

FAQ

Are Sallie Mae student loans private or federal?

Sallie Mae only offers private student loans, not federal loans. That means its loans don’t come with federal protections like income-driven repayment plans or Public Service Loan Forgiveness (PSLF). If you’re looking for federal aid, you’ll need to apply through the FAFSA instead. Sallie Mae loans are best used to fill the gap after federal aid options have been exhausted.

Parent PLUS Loan vs. Sallie Mae: What’s the difference?

A Parent PLUS Loan is a federal loan offered to parents of undergraduate students, while Sallie Mae offers private student loans, including loans parents can take out for their child. The key differences come down to repayment flexibility and eligibility.

Parent PLUS Loans offer fixed interest rates and federal protections, while Sallie Mae may offer lower rates (depending on credit) but lacks income-driven repayment and forgiveness options. Parents who want more flexibility or federal benefits might prefer the PLUS Loan, while those with strong credit could find better rates through Sallie Mae.

Recap of Sallie Mae competitors