Best private student loans of September 2024

Private student loans can help bridge the gap between federal aid and your cost of attendance. But like any financial decision, there are pros and cons to consider before signing on the dotted line.

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By Devon Delfino

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Devon Delfino

Personal finance writer

Devon Delfino has specialized in personal finance for over eight years. Her work has been published by MSN, U.S. News & World Report, CNN, The Motley Fool, CNBC, and USA TODAY.

Edited by Renee Fleck

Written by

Renee Fleck

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Renee Fleck is a student loans editor with over five years of experience in digital content editing. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.

Updated August 29, 2024, 12:59 PM EDT

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Private student loans accounted for 15% of all educational loans in 2022-23 according to the College Board. While federal student loans often offer the best terms, they might not cover all of your college expenses. That’s where a private student loan can help. 

If you’ve received your financial aid package and it isn’t enough to cover your college costs, it may be a good time to start thinking about a private student loan. These are provided by private lenders and generally require a credit score of 670 or higher (from either you or a cosigner) to qualify.

Compare private student loan rates

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