Private student loans

Key Points
Research suggests private student loans are offered by various lenders, with options like Ascent and Sallie Mae being popular.
It seems likely that interest rates and terms vary, so borrowers should compare lenders.
The evidence leans toward checking credit scores and considering co-signers for better rates.

Understand Your Options
Private student loans are provided by banks, credit unions, or online lenders like Ascent and Sallie Mae . These loans often have different interest rates, repayment terms, and eligibility criteria compared to federal loans.

Compare Lenders
Look at factors like fixed and variable APRs, loan amounts, and co-signer release options. For example, College Ave offers loans with no origination fees and flexible terms .

Check Eligibility
Most lenders require a credit score, often in the mid-600s, and may offer better rates with a co-signer. Some, like Funding U, don’t require a credit score, which can help if you have limited credit history .
Comprehensive Analysis of Private Student Loan Lenders in 2025
This analysis examines private student loan lenders available in 2025, focusing on their offerings, interest rates, and key features. The analysis is based on authoritative online resources as of 11:39 PM EEST on Saturday, June 21, 2025, and aims to provide a detailed guide for borrowers.

Introduction and Purpose
Private student loans are an alternative to federal student loans, offered by banks, credit unions, and online lenders. They are credit-based, meaning eligibility and terms depend on the borrower’s credit history and often require a co-signer. This analysis seeks to list the major private student loan lenders and highlight their features, addressing the needs of borrowers looking to finance their education.

Methodology
The analysis was conducted by reviewing web pages from sources such as NerdWallet, Forbes Advisor, U.S. News, and others, focusing on lists of best private student loans for 2025. These sources were chosen for their authority and relevance, with a focus on providing comprehensive lender information.

List of Private Student Loan Lenders
Research suggests that private student loan lenders offer a variety of options, with popular names including Ascent, Sallie Mae, and SoFi. It seems likely that borrowers can find loans tailored to their needs, such as undergraduate, graduate, or parent loans, with different interest rates and terms.
The evidence leans toward the following comprehensive list of private student loan lenders, compiled from NerdWallet, Forbes Advisor, and U.S. News, ensuring a broad representation:

Abe
Advantage Education
Ascent
Citizens Bank
College Ave
Custom Choice
Earnest
ELFI
Funding U
LendKey
MPOWER
Nelnet
PNC
Rhode Island Student Loan Authority (RISLA)
Sallie Mae
SoFi

This list includes lenders with various features, such as no origination fees, autopay discounts, and co-signer release options, catering to different borrower needs.
Detailed Lender Features
To provide a deeper understanding, here are detailed features for some of the top lenders, based on the NerdWallet and Forbes Advisor analyses:

Lender
NerdWallet Rating
Min. Credit Score
Fixed APR Range
Variable APR Range
Key Features
Ascent
5.0/5
Low-Mid 600s
3.39-15.86%
4.70-15.26%
Flexible repayment, 9-month grace period, 1% cash back reward, autopay discount
Sallie Mae
4.5/5
Mid-600's
3.45-16.49%
4.37-15.99%
Low payments, interest-only options, autopay discount
Earnest
4.5/5
650
3.47-16.49%
4.99-16.85%
Rate match guarantee, 9-month grace period, autopay discount
College Ave
5.0/5
Mid-600s
3.24-17.99%
4.24-17.99%
Multi-year loans, autopay discount, prequalification without hard credit check
SoFi
5.0/5
Mid-600s
3.29-15.99%
4.39-15.99%
No fees, member benefits, autopay and family rate discounts
From Forbes Advisor, additional details include:
Lender
Rating
Loan Terms (Years)
Loan Amounts
Co-signer Release After
Forbearance Options
Key Features
ELFI
4.8
5 to 15
$1,000 up to 100% cost of attendance
Not available, can apply for new loan
Up to 12 months
Quick application, no origination fees, up to 12 months forbearance
Custom Choice
4.6
7, 10, 15
$1,000 to $99,999 annually, $180,000 aggregate
36 months
Up to 12 months
Payment relief for unemployment/disasters, 2% principal reduction reward
Rhode Island Student Loan Authority
4.3
10, 15
$1,500 to $50,000/year, $180,000 aggregate
24 months
Up to 24 months
Low rates, up to $2,000 forgiveness for interns, income-based repayment
Nelnet
3.9
5 to 25
$1,000 up to $125,000 undergrad, $175,000 grad/MBA/law, $500,000 health
24 months
Assistance programs
No co-signer loans, clear credit requirements, autopay discount
Citizens Bank
3.8
5, 10, 15
$1,000 to $400,000 (degree dependent)
36 months
Up to 12 months
Up to 0.50% rate discounts, multi-year approval, refinance without degree

These tables highlight the diversity in offerings, such as Funding U and MPOWER, which don’t require a credit score, making them accessible for borrowers with limited credit history.
Eligibility and Considerations
It seems likely that most lenders require a credit score, often in the mid-600s, and may offer better rates with a co-signer. For example, Ascent and College Ave list minimum credit scores, while Funding U and MPOWER cater to those without credit, which is crucial for students with thin credit files.
The evidence leans toward borrowers comparing fixed and variable APRs, loan amounts, and forbearance options. For instance, Ascent offers up to 24 months of forbearance, while Custom Choice provides payment relief for unemployment or disasters, which can be vital during financial hardship.

Recent Updates and Context
Recent updates on private student loans include interest rate changes, with the average fixed rate on a 10-year loan at 8.51% as of May 20, 2025, up from 7.41% the previous week, according to Forbes Advisor Private Student Loan Rates: May 20, 2025. This increase suggests borrowers should lock in rates soon if possible.
While most updates focus on federal loans, such as the SAVE plan being in legal limbo and Republican proposals to overhaul repayment options, private loans are less affected but still subject to market rate fluctuations. Borrowers should stay informed through reliable sources like NerdWallet and Forbes Advisor.

Target Audience and Limitations
This list is primarily for students and parents seeking private student loans for undergraduate, graduate, or professional programs. While comprehensive, it may not include every niche lender, and rates and terms can change. Borrowers with specific needs, such as loans for international students, might find additional options through lenders like MPOWER, which caters to non-U.S. citizens.

Conclusion
The list of private student loan lenders in 2025 includes major players like Ascent, Sallie Mae, and SoFi, with diverse offerings to meet various borrower needs. By comparing rates, terms, and features, borrowers can find the best fit, especially considering credit scores and co-signer options. Staying informed about rate changes and using reputable sources ensures informed decision-making.

Key Citations
Best Private Student Loans in 2025 NerdWallet
Best Private Student Loans Of June 2025 Forbes Advisor
Private Student Loan Rates May 20 2025 Forbes Advisor