Best student loans without a cosigner in September 2024
Best student loans without a cosigner in September 2024
Written by
Writer
Rebecca Safier is a finance expert on student loans, personal loans and education. Her byline has been featured by Forbes Advisor, CNN Underscored and U.S. News & World Report.
Updated August 29, 2024, 3:47 PM EDT
Written by
Editor
Renee Fleck has spent more than six years covering personal finance and is an expert on student loans and refinancing.
Fox Money is a personal finance hub featuring content generated by Credible Operations, Inc. (Credible), which is majority-owned indirectly by Fox Corporation. The Fox Money content is created and reviewed independent of Fox News Media. Credible is solely responsible for this content and the services it provides.
The best student loans without a cosigner come from the Department of Education’s federal loan program. Undergraduate students can borrow Direct Subsidized and Unsubsidized Loans without a cosigner, while graduate students can take out Direct Unsubsidized Loans and, unless they have adverse credit, grad PLUS loans.
Qualifying for a private student loan without a cosigner can be trickier, but you still have options. Some private lenders will ditch the typical cosigner requirement if you have a strong GPA, high estimated future earnings, or meet other alternative criteria. If you’re looking to borrow in your name alone, here are the best student loans without a cosigner.
Compare student loan rates
Lender
Fixed (APR)
Loan Amounts
Min. Credit Score
Fox Money rating
3.39% - 15.13%
$2,001 to $400,000
Does not disclose
Overview
Ascent offers several unique borrowing options that you don’t typically see with private lenders. In addition to traditional student loans for undergraduate, graduate, and medical programs, college juniors and seniors may qualify for its Outcomes-Based Loan — which doesn’t require established credit or a cosigner. Instead, Ascent reviews alternate factors such as your school, major, and GPA to determine your eligibility.
Ascent also offers a wide range of loan terms and repayment plans to choose from. You may even qualify for its Progressive Repayment plan, which allows you to start with small payments that gradually increase over time. Borrowers who use a cosigner can release them after as few as 12 payments, though international students don’t qualify for this option.
pros
- No application or origination fees
- Autopay discounts of 0.25 to 1.00 percentage points
- 1% cash back reward at graduation
- Extended grace periods of 9 to 36 months
cons
- Higher interest rates than some competitors
- International students can’t release their cosigner
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
No
Loan terms
5, 7, 10, 12, 15, or 20 years
Loan amounts
$2,001 minimum up to your school’s annual cost of attendance; lifetime limits of $200,000 for undergrads and $400,000 for graduates
Cosigner release
12 months
Eligibility
Must be a U.S. citizen or DACA student enrolled at least half time at an eligible institution. International students with a qualified cosigner may also qualify. Applicants who can’t meet financial, credit, or other requirements may qualify with a cosigner.
Fox Money rating
3.47% - 17.99%
$1,000 up to 100% of the school-certified cost of attendance
Does not disclose
Overview
College Ave offers a simple three-minute application, and has loans for nearly every borrower, from undergraduates to law school students. It's a great option for graduate students, who can take advantage of extended grace periods. The lender offers multiple repayment plans, as well as a discount of 0.25 percentage points for autopay.
With College Ave's multiyear approval program, 95% of undergraduate students who apply with a cosigner are approved for additional student loans. On the downside, borrowers must complete at least half of their repayment term before they can release a cosigner. Parent borrowers also can't fully defer loans - they must pay at least the interest during school.
pros
- Graduate loans have grace periods up to 36 months
- Offers multiyear approval for efficient borrowing
- Discount of 0.25 percentage points for autopay
cons
- Cosigner release only available after half of your repayment term
- Parents can’t defer interest payments while child is in school
- Doesn’t disclose minimum credit score or income
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
5, 8, 10, or 15 years for most borrowers (law, dental, medical, and other health profession students have up to 20 years)
Loan amounts
$1,000 minimum up to your school’s annual cost of attendance; lifetime limits depend on your degree and credit profile
Cosigner release
Available after more than half of the scheduled repayment period has elapsed and other requirements are met
Eligibility
Must be a U.S. citizen or permanent resident at an eligible institution. International students with a Social Security number and a qualified cosigner may also qualify. Applicants who can’t meet financial, credit, or other requirements may qualify with a cosigner.
Fox Money rating
3.49% - 15.49%
$1,000 up to 100% of school-certified cost of attendance
Does not disclose
Overview
Sallie Mae offers a wide range of loans tailored to different needs, including those for undergraduates, graduates, MBA programs, law school, medical school, and health profession programs. It's also one of the few private lenders that provides loans for career training and trade schools.
If you apply with a cosigner, you might qualify for a lower interest rate. Sallie Mae has one of the shortest cosigner release periods—just 12 months—compared to other lenders. However, there's no option to prequalify and check your rates without affecting your credit. You'll need to complete a full application, which includes a hard credit inquiry that could temporarily lower your credit score.
pros
- Offers loans for certificate and trade school programs
- Cosigners can be released after just 12 months
- No prepayment, origination, or application fees
cons
- No prequalification options to check rates
- Must submit an application to view loan terms
- Does not offer parent loans
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
10 to 15 years for the Smart Option Student Loan; 15 years for law school, MBA, and graduate school loans; 20 years for medical school loans
Loan amounts
$1,000 up to school-certified cost of attendance. Student must be listed as the borrower, and a parent may cosign.
Cosigner release
After you graduate, make 12 one-time principal and interest payments, and meet certain credit requirements
Eligibility
Must be a U.S. citizen or permanent resident enrolled in an eligible program. Noncitizens residing and attending school in the U.S. may qualify by applying with a creditworthy cosigner, who must be a U.S. citizen or permanent resident, and providing an unexpired government-issued photo ID.
Fox Money rating
3.69% - 14.22%
$1,000 up to cost of attendance
680
Overview
ELFI is a private student loan lender offering private student loans and refinancing for undergraduates, graduates, and parents. The lender, a division of Tennessee-based SouthEast Bank, offers loans starting at $1,000, with options to cover as much as the full cost of attendance.
ELFI student loans are available to students nationwide who are enrolled in a bachelor's degree program or higher. The lender offers multiple repayment terms and interest rates that are competitive in the industry. ELFI also provides support to borrowers through a Student Loan Advisor. You can borrow with a cosigner, but ELFI doesn't have a cosigner release option, nor does it offer any rate discounts.
pros
- One-on-one support available from a dedicated Student Loan Advisor
- Clearly discloses credit score and income required to qualify
- Wide range of repayment options
cons
- Loans only available for bachelor’s degree programs or higher
- Does not offer cosigner release
- No rate discounts for autopay
Interest rates
Fixed or variable
Minimum credit score
680
Minimum income
$35,000
Loan terms
5, 7, 10, or 15 years
Loan amounts
$1,000 - Cost of attendance
Cosigner release
A cosigner may not be taken off a loan, but the borrower can apply for a new loan without their cosigner.
Eligibility
All 50 states as well as Washington DC and Puerto Rico.
Fox Money rating
3.99% - 15.61%
$1,000 to $350,000 (depending on degree)
720
Overview
Citizens provides loans to undergraduates, graduate students, and parents. The lender also accepts international students, as long as they have a cosigner who's a U.S. citizen or permanent resident. The lender's multiyear approval program makes it easy to reapply for loan funds each year.
Borrowers can take advantage of an autopay discount of 0.25 percentage points, in addition to a loyalty discount if they have an existing account with Citizens. While student borrowers can defer their loan payments until six months after graduation, parents are not eligible to defer their payments.
pros
- Offers loyalty and autopay discounts
- Qualifying borrowers can take advantage of multiyear approval
- International students are eligible when they add a qualifying cosigner
cons
- Few repayment term options
- Longer cosigner release requirement than some lenders
- Can’t defer parent loans
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
5, 10, or 15 years for student loans; 5 or 10 years for parent loans
Loan amounts
$1,000 minimum, up to a maximum of $225,000 for undergraduate and graduate degrees; $300,000 for MBA and law; and $225,000 or $400,000 for health care student loans, depending on the degree type
Cosigner release
36 months
Eligibility
Must be a U.S. citizen or permanent resident enrolled at least half-time in a degree-granting program at an eligible institution. International students can apply with a cosigner who’s a U.S. citizen or permanent resident.
Fox Money rating
4.24% - 14.02%
$1,000 to $99,999 annually $180,000 aggregate limit)
Does not disclose
Overview
Citizens provides loans to undergraduates, graduate students, and parents. The lender also accepts international students, as long as they have a cosigner who's a U.S. citizen or permanent resident. The lender's multiyear approval program makes it easy to reapply for loan funds each year.
Borrowers can take advantage of an autopay discount of 0.25 percentage points, in addition to a loyalty discount if they have an existing account with Citizens. While student borrowers can defer their loan payments until six months after graduation, parents are not eligible to defer their payments.
pros
- Offers loyalty and autopay discounts
- Qualifying borrowers can take advantage of multiyear approval
- International students are eligible when they add a qualifying cosigner
cons
- Few repayment term options
- Longer cosigner release requirement than some lenders
- Can’t defer parent loans
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
7, 10, or 15 years
Loan amounts
$1,000 to $99,999 per year (lifetime limit of $180,000)
Cosigner release
36 months
Eligibility
Must be a U.S. citizen or permanent resident at an eligible institution. You must also meet Custom Choice’s underwriting criteria for income and credit, or apply with a cosigner who does. Eligible noncitizens such as DACA residents can also qualify by applying with a cosigner who’s a U.S. citizen or permanent resident.
Fox Money rating
4.95% - 8.82%
$1,001 up to 100% of school certified cost of attendance
670
Overview
INvestEd is a student loan provider that offers loans exclusively to Indiana state residents. Students in the state and their parents who can meet INvestEd's income and credit requirements, or who have an eligible cosigner, are eligible. Loans of as little as $1,001 or as much as the school's cost of attendance minus other aid are available.
Potential borrowers can find detailed information on eligibility on INvestEd's website so they can determine whether or not to apply. But there's no option to prequalify with a soft credit check that doesn't affect your credit score. Cosigners can be released after just 12 on-time payments, which is considerably less time than many other lenders.
pros
- Minimum borrowing amounts lower than some other lenders
- Offers a quarter-point rate discount for using autopay
- Cosigner release after as few as 12 on-time payments
- Qualification requirements are easy to see online
cons
- Only Indiana residents can qualify for loans
- Cannot prequalify to see rates without a hard credit pull
- International students not eligible
Interest rates
Fixed or variable
Minimum credit score
670
Minimum income
Does not disclose
Loan terms
5, 10, or 15 years
Loan amounts
$1,001 minimum, up to the school certified cost of attendance
Cosigner release
12 months
Eligibility
Loans are available to Indiana residents only. Borrowers must have a FICO score of 670 or higher, a 30% maximum debt-to-income ratio or minimum monthly income of $3,333, continuous employment over two years, and no major collections or defaults in recent years. Borrowers who do not meet income or credit requirements can apply with a cosigner.
Fox Money rating
5.75% - 8.95%
$1,500 up to school’s certified cost of attendance less aid
670
Overview
Massachusetts Educational Financing Authority (MEFA) student loans fixed-rate options for undergraduate and graduate students across the country. MEFA's not-for-profit status helps it keep interest rates competitive, offering potentially lower borrowing costs than many other private lenders.
On the downside, flexibility is limited compared with some other lenders. Undergraduates can only choose between 10- or 15-year repayment terms, while graduate students must opt for a 15-year term. This might be restrictive if you're looking for more options. Cosigner release may also be a challenge. You'll need to make on-time payments for four consecutive years and meet specific credit and income criteria to release your cosigner.
pros
- No fees at any stage, including late payment fees
- Lower interest rates than many competitors
- Can cover your school’s full cost of attendance
cons
- Variable rate loans are not offered
- Fewer repayment term options than most lenders
- No autopay rate discount
- May be challenging to release a cosigner
- No option to prequalify with a soft credit check
Interest rates
Fixed
Minimum credit score
670
Minimum income
Does not disclose
Loan terms
10 or 15 years
Loan amounts
$1,500 minimum up to school-certified cost of attendance
Cosigner release
48 months
Eligibility
Must be a U.S. citizen or permanent resident, enrolled at least half time at a degree-granting, nonprofit institution, and must maintain satisfactory academic progress. Must have no history of default on an education loan and no history of bankruptcy or foreclosure in the past 60 months. Applicants who can’t meet the minimum credit and income requirements may apply with a cosigner.
Fox Money rating
Fixed (APR)
3.39% - 15.13%
Loan Amounts
$2,001 to $400,000
Min. Credit Score
Does not disclose
Overview
Ascent offers several unique borrowing options that you don’t typically see with private lenders. In addition to traditional student loans for undergraduate, graduate, and medical programs, college juniors and seniors may qualify for its Outcomes-Based Loan — which doesn’t require established credit or a cosigner. Instead, Ascent reviews alternate factors such as your school, major, and GPA to determine your eligibility.
Ascent also offers a wide range of loan terms and repayment plans to choose from. You may even qualify for its Progressive Repayment plan, which allows you to start with small payments that gradually increase over time. Borrowers who use a cosigner can release them after as few as 12 payments, though international students don’t qualify for this option.
pros
- No application or origination fees
- Autopay discounts of 0.25 to 1.00 percentage points
- 1% cash back reward at graduation
- Extended grace periods of 9 to 36 months
cons
- Higher interest rates than some competitors
- International students can’t release their cosigner
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
No
Loan terms
5, 7, 10, 12, 15, or 20 years
Loan amounts
$2,001 minimum up to your school’s annual cost of attendance; lifetime limits of $200,000 for undergrads and $400,000 for graduates
Cosigner release
12 months
Eligibility
Must be a U.S. citizen or DACA student enrolled at least half time at an eligible institution. International students with a qualified cosigner may also qualify. Applicants who can’t meet financial, credit, or other requirements may qualify with a cosigner.
Fox Money rating
Fixed (APR)
3.47% - 17.99%
Loan Amounts
$1,000 up to 100% of the school-certified cost of attendance
Min. Credit Score
Does not disclose
Overview
College Ave offers a simple three-minute application, and has loans for nearly every borrower, from undergraduates to law school students. It's a great option for graduate students, who can take advantage of extended grace periods. The lender offers multiple repayment plans, as well as a discount of 0.25 percentage points for autopay.
With College Ave's multiyear approval program, 95% of undergraduate students who apply with a cosigner are approved for additional student loans. On the downside, borrowers must complete at least half of their repayment term before they can release a cosigner. Parent borrowers also can't fully defer loans - they must pay at least the interest during school.
pros
- Graduate loans have grace periods up to 36 months
- Offers multiyear approval for efficient borrowing
- Discount of 0.25 percentage points for autopay
cons
- Cosigner release only available after half of your repayment term
- Parents can’t defer interest payments while child is in school
- Doesn’t disclose minimum credit score or income
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
5, 8, 10, or 15 years for most borrowers (law, dental, medical, and other health profession students have up to 20 years)
Loan amounts
$1,000 minimum up to your school’s annual cost of attendance; lifetime limits depend on your degree and credit profile
Cosigner release
Available after more than half of the scheduled repayment period has elapsed and other requirements are met
Eligibility
Must be a U.S. citizen or permanent resident at an eligible institution. International students with a Social Security number and a qualified cosigner may also qualify. Applicants who can’t meet financial, credit, or other requirements may qualify with a cosigner.
Fox Money rating
Fixed (APR)
3.49% - 15.49%
Loan Amounts
$1,000 up to 100% of school-certified cost of attendance
Min. Credit Score
Does not disclose
Overview
Sallie Mae offers a wide range of loans tailored to different needs, including those for undergraduates, graduates, MBA programs, law school, medical school, and health profession programs. It's also one of the few private lenders that provides loans for career training and trade schools.
If you apply with a cosigner, you might qualify for a lower interest rate. Sallie Mae has one of the shortest cosigner release periods—just 12 months—compared to other lenders. However, there's no option to prequalify and check your rates without affecting your credit. You'll need to complete a full application, which includes a hard credit inquiry that could temporarily lower your credit score.
pros
- Offers loans for certificate and trade school programs
- Cosigners can be released after just 12 months
- No prepayment, origination, or application fees
cons
- No prequalification options to check rates
- Must submit an application to view loan terms
- Does not offer parent loans
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
10 to 15 years for the Smart Option Student Loan; 15 years for law school, MBA, and graduate school loans; 20 years for medical school loans
Loan amounts
$1,000 up to school-certified cost of attendance. Student must be listed as the borrower, and a parent may cosign.
Cosigner release
After you graduate, make 12 one-time principal and interest payments, and meet certain credit requirements
Eligibility
Must be a U.S. citizen or permanent resident enrolled in an eligible program. Noncitizens residing and attending school in the U.S. may qualify by applying with a creditworthy cosigner, who must be a U.S. citizen or permanent resident, and providing an unexpired government-issued photo ID.
Fox Money rating
Fixed (APR)
3.69% - 14.22%
Loan Amounts
$1,000 up to cost of attendance
Min. Credit Score
680
Overview
ELFI is a private student loan lender offering private student loans and refinancing for undergraduates, graduates, and parents. The lender, a division of Tennessee-based SouthEast Bank, offers loans starting at $1,000, with options to cover as much as the full cost of attendance.
ELFI student loans are available to students nationwide who are enrolled in a bachelor's degree program or higher. The lender offers multiple repayment terms and interest rates that are competitive in the industry. ELFI also provides support to borrowers through a Student Loan Advisor. You can borrow with a cosigner, but ELFI doesn't have a cosigner release option, nor does it offer any rate discounts.
pros
- One-on-one support available from a dedicated Student Loan Advisor
- Clearly discloses credit score and income required to qualify
- Wide range of repayment options
cons
- Loans only available for bachelor’s degree programs or higher
- Does not offer cosigner release
- No rate discounts for autopay
Interest rates
Fixed or variable
Minimum credit score
680
Minimum income
$35,000
Loan terms
5, 7, 10, or 15 years
Loan amounts
$1,000 - Cost of attendance
Cosigner release
A cosigner may not be taken off a loan, but the borrower can apply for a new loan without their cosigner.
Eligibility
All 50 states as well as Washington DC and Puerto Rico.
Fox Money rating
Fixed (APR)
3.99% - 15.61%
Loan Amounts
$1,000 to $350,000 (depending on degree)
Min. Credit Score
720
Overview
Citizens provides loans to undergraduates, graduate students, and parents. The lender also accepts international students, as long as they have a cosigner who's a U.S. citizen or permanent resident. The lender's multiyear approval program makes it easy to reapply for loan funds each year.
Borrowers can take advantage of an autopay discount of 0.25 percentage points, in addition to a loyalty discount if they have an existing account with Citizens. While student borrowers can defer their loan payments until six months after graduation, parents are not eligible to defer their payments.
pros
- Offers loyalty and autopay discounts
- Qualifying borrowers can take advantage of multiyear approval
- International students are eligible when they add a qualifying cosigner
cons
- Few repayment term options
- Longer cosigner release requirement than some lenders
- Can’t defer parent loans
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
5, 10, or 15 years for student loans; 5 or 10 years for parent loans
Loan amounts
$1,000 minimum, up to a maximum of $225,000 for undergraduate and graduate degrees; $300,000 for MBA and law; and $225,000 or $400,000 for health care student loans, depending on the degree type
Cosigner release
36 months
Eligibility
Must be a U.S. citizen or permanent resident enrolled at least half-time in a degree-granting program at an eligible institution. International students can apply with a cosigner who’s a U.S. citizen or permanent resident.
Fox Money rating
Fixed (APR)
4.24% - 14.02%
Loan Amounts
$1,000 to $99,999 annually $180,000 aggregate limit)
Min. Credit Score
Does not disclose
Overview
Citizens provides loans to undergraduates, graduate students, and parents. The lender also accepts international students, as long as they have a cosigner who's a U.S. citizen or permanent resident. The lender's multiyear approval program makes it easy to reapply for loan funds each year.
Borrowers can take advantage of an autopay discount of 0.25 percentage points, in addition to a loyalty discount if they have an existing account with Citizens. While student borrowers can defer their loan payments until six months after graduation, parents are not eligible to defer their payments.
pros
- Offers loyalty and autopay discounts
- Qualifying borrowers can take advantage of multiyear approval
- International students are eligible when they add a qualifying cosigner
cons
- Few repayment term options
- Longer cosigner release requirement than some lenders
- Can’t defer parent loans
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
7, 10, or 15 years
Loan amounts
$1,000 to $99,999 per year (lifetime limit of $180,000)
Cosigner release
36 months
Eligibility
Must be a U.S. citizen or permanent resident at an eligible institution. You must also meet Custom Choice’s underwriting criteria for income and credit, or apply with a cosigner who does. Eligible noncitizens such as DACA residents can also qualify by applying with a cosigner who’s a U.S. citizen or permanent resident.
Fox Money rating
Fixed (APR)
4.95% - 8.82%
Loan Amounts
$1,001 up to 100% of school certified cost of attendance
Min. Credit Score
670
Overview
INvestEd is a student loan provider that offers loans exclusively to Indiana state residents. Students in the state and their parents who can meet INvestEd's income and credit requirements, or who have an eligible cosigner, are eligible. Loans of as little as $1,001 or as much as the school's cost of attendance minus other aid are available.
Potential borrowers can find detailed information on eligibility on INvestEd's website so they can determine whether or not to apply. But there's no option to prequalify with a soft credit check that doesn't affect your credit score. Cosigners can be released after just 12 on-time payments, which is considerably less time than many other lenders.
pros
- Minimum borrowing amounts lower than some other lenders
- Offers a quarter-point rate discount for using autopay
- Cosigner release after as few as 12 on-time payments
- Qualification requirements are easy to see online
cons
- Only Indiana residents can qualify for loans
- Cannot prequalify to see rates without a hard credit pull
- International students not eligible
Interest rates
Fixed or variable
Minimum credit score
670
Minimum income
Does not disclose
Loan terms
5, 10, or 15 years
Loan amounts
$1,001 minimum, up to the school certified cost of attendance
Cosigner release
12 months
Eligibility
Loans are available to Indiana residents only. Borrowers must have a FICO score of 670 or higher, a 30% maximum debt-to-income ratio or minimum monthly income of $3,333, continuous employment over two years, and no major collections or defaults in recent years. Borrowers who do not meet income or credit requirements can apply with a cosigner.
Fox Money rating
Fixed (APR)
5.75% - 8.95%
Loan Amounts
$1,500 up to school’s certified cost of attendance less aid
Min. Credit Score
670
Overview
Massachusetts Educational Financing Authority (MEFA) student loans fixed-rate options for undergraduate and graduate students across the country. MEFA's not-for-profit status helps it keep interest rates competitive, offering potentially lower borrowing costs than many other private lenders.
On the downside, flexibility is limited compared with some other lenders. Undergraduates can only choose between 10- or 15-year repayment terms, while graduate students must opt for a 15-year term. This might be restrictive if you're looking for more options. Cosigner release may also be a challenge. You'll need to make on-time payments for four consecutive years and meet specific credit and income criteria to release your cosigner.
pros
- No fees at any stage, including late payment fees
- Lower interest rates than many competitors
- Can cover your school’s full cost of attendance
cons
- Variable rate loans are not offered
- Fewer repayment term options than most lenders
- No autopay rate discount
- May be challenging to release a cosigner
- No option to prequalify with a soft credit check
Interest rates
Fixed
Minimum credit score
670
Minimum income
Does not disclose
Loan terms
10 or 15 years
Loan amounts
$1,500 minimum up to school-certified cost of attendance
Cosigner release
48 months
Eligibility
Must be a U.S. citizen or permanent resident, enrolled at least half time at a degree-granting, nonprofit institution, and must maintain satisfactory academic progress. Must have no history of default on an education loan and no history of bankruptcy or foreclosure in the past 60 months. Applicants who can’t meet the minimum credit and income requirements may apply with a cosigner.
Fox Business does not make or arrange loans.
8 best student loans without a cosigner
Ascent: Best for no-cosigner loans
No-cosigner loans
Ascent
4.9
Fox Money rating
on Credible’s website
Min. Credit Score
Does not disclose
Fixed APR
3.39 - 15.13%
Variable APR
5.25 - 14.85%
Loan Amount
$2,001 to $400,000
Term
5, 7, 10, 12, 15, 20
Pros and cons
No application or origination fees
Autopay discounts of 0.25 to 1.00 percentage points
1% cash back reward at graduation
Extended grace periods of 9 to 36 months
Higher interest rates than some competitors
International students can’t release their cosigner
More details
Overview
Ascent offers several unique borrowing options that you don’t typically see with private lenders. In addition to traditional student loans for undergraduate, graduate, and medical programs, college juniors and seniors may qualify for its Outcomes-Based Loan — which doesn’t require established credit or a cosigner. Instead, Ascent reviews alternate factors such as your school, major, and GPA to determine your eligibility.
Ascent also offers a wide range of loan terms and repayment plans to choose from. You may even qualify for its Progressive Repayment plan, which allows you to start with small payments that gradually increase over time. Borrowers who use a cosigner can release them after as few as 12 payments, though international students don’t qualify for this option.
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
No
Loan terms
5, 7, 10, 12, 15, or 20 years
Loan amounts
$2,001 minimum up to your school’s annual cost of attendance; lifetime limits of $200,000 for undergrads and $400,000 for graduates
Cosigner release
12 months
Eligibility
Must be a U.S. citizen or DACA student enrolled at least half time at an eligible institution. International students with a qualified cosigner may also qualify. Applicants who can’t meet financial, credit, or other requirements may qualify with a cosigner.
Citizens: Best for multi-year approval
Best for Multi-Year Approval
Citizens
4.9
Fox Money rating
on Credible’s website
Min. Credit Score
720
Fixed APR
3.99 - 15.61%
Variable APR
5.19 - 15.81%
Loan Amount
$1,000 to $350,000 (depending on degree)
Term
5, 10, 15
Pros and cons
Offers loyalty and autopay discounts
Qualifying borrowers can take advantage of multiyear approval
International students are eligible when they add a qualifying cosigner
Few repayment term options
Longer cosigner release requirement than some lenders
Can’t defer parent loans
More details
Overview
Citizens provides loans to undergraduates, graduate students, and parents. The lender also accepts international students, as long as they have a cosigner who's a U.S. citizen or permanent resident. The lender's multiyear approval program makes it easy to reapply for loan funds each year.
Borrowers can take advantage of an autopay discount of 0.25 percentage points, in addition to a loyalty discount if they have an existing account with Citizens. While student borrowers can defer their loan payments until six months after graduation, parents are not eligible to defer their payments.
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
5, 10, or 15 years for student loans; 5 or 10 years for parent loans
Loan amounts
$1,000 minimum, up to a maximum of $225,000 for undergraduate and graduate degrees; $300,000 for MBA and law; and $225,000 or $400,000 for health care student loans, depending on the degree type
Cosigner release
36 months
Eligibility
Must be a U.S. citizen or permanent resident enrolled at least half-time in a degree-granting program at an eligible institution. International students can apply with a cosigner who’s a U.S. citizen or permanent resident.
College Ave: Best for extended grace periods
Best for Extended Grace Periods
College Ave
4.9
Fox Money rating
on Credible’s website
Min. Credit Score
Does not disclose
Fixed APR
3.47 - 17.99%
Variable APR
4.69 - 17.99%
Loan Amount
$1,000 up to 100% of the school-certified cost of attendance
Term
5, 8, 10, 15 (20 for health professionals)
Pros and cons
Graduate loans have grace periods up to 36 months
Offers multiyear approval for efficient borrowing
Discount of 0.25 percentage points for autopay
Cosigner release only available after half of your repayment term
Parents can’t defer interest payments while child is in school
Doesn’t disclose minimum credit score or income
More details
Overview
College Ave offers a simple three-minute application, and has loans for nearly every borrower, from undergraduates to law school students. It's a great option for graduate students, who can take advantage of extended grace periods. The lender offers multiple repayment plans, as well as a discount of 0.25 percentage points for autopay.
With College Ave's multiyear approval program, 95% of undergraduate students who apply with a cosigner are approved for additional student loans. On the downside, borrowers must complete at least half of their repayment term before they can release a cosigner. Parent borrowers also can't fully defer loans - they must pay at least the interest during school.
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
5, 8, 10, or 15 years for most borrowers (law, dental, medical, and other health profession students have up to 20 years)
Loan amounts
$1,000 minimum up to your school’s annual cost of attendance; lifetime limits depend on your degree and credit profile
Cosigner release
Available after more than half of the scheduled repayment period has elapsed and other requirements are met
Eligibility
Must be a U.S. citizen or permanent resident at an eligible institution. International students with a Social Security number and a qualified cosigner may also qualify. Applicants who can’t meet financial, credit, or other requirements may qualify with a cosigner.
Custom Choice: Best for discounts and rewards
Best for Discounts and Rewards
Custom Choice
4.4
Fox Money rating
on Credible’s website
Min. Credit Score
Does not disclose
Fixed APR
4.24 - 14.02%
Variable APR
4.66 - 14.26%
Loan Amount
$1,000 to $99,999 annually $180,000 aggregate limit)
Term
7, 10, 15
Pros and cons
Offers loyalty and autopay discounts
Qualifying borrowers can take advantage of multiyear approval
International students are eligible when they add a qualifying cosigner
Few repayment term options
Longer cosigner release requirement than some lenders
Can’t defer parent loans
More details
Overview
Citizens provides loans to undergraduates, graduate students, and parents. The lender also accepts international students, as long as they have a cosigner who's a U.S. citizen or permanent resident. The lender's multiyear approval program makes it easy to reapply for loan funds each year.
Borrowers can take advantage of an autopay discount of 0.25 percentage points, in addition to a loyalty discount if they have an existing account with Citizens. While student borrowers can defer their loan payments until six months after graduation, parents are not eligible to defer their payments.
Interest rates
Fixed or variable
Minimum credit score
Does not disclose
Minimum income
Does not disclose
Loan terms
7, 10, or 15 years
Loan amounts
$1,000 to $99,999 per year (lifetime limit of $180,000)
Cosigner release
36 months
Eligibility
Must be a U.S. citizen or permanent resident at an eligible institution. You must also meet Custom Choice’s underwriting criteria for income and credit, or apply with a cosigner who does. Eligible noncitizens such as DACA residents can also qualify by applying with a cosigner who’s a U.S. citizen or permanent resident.
Elfi: Best for flexible repayment
Best for flexible repayment
ELFI
4.8
Fox Money rating
on Credible’s website
Min. Credit Score
680
Fixed APR
3.69 - 14.22%
Variable APR
5.00 - 13.97%
Loan Amount
$1,000 up to cost of attendance
Term
5, 7, 10, 15
Pros and cons
One-on-one support available from a dedicated Student Loan Advisor
Clearly discloses credit score and income required to qualify
Wide range of repayment options
Loans only available for bachelor’s degree programs or higher
Does not offer cosigner release
No rate discounts for autopay
More details
Overview
ELFI is a private student loan lender offering private student loans and refinancing for undergraduates, graduates, and parents. The lender, a division of Tennessee-based SouthEast Bank, offers loans starting at $1,000, with options to cover as much as the full cost of attendance.
ELFI student loans are available to students nationwide who are enrolled in a bachelor's degree program or higher. The lender offers multiple repayment terms and interest rates that are competitive in the industry. ELFI also provides support to borrowers through a Student Loan Advisor. You can borrow with a cosigner, but ELFI doesn't have a cosigner release option, nor does it offer any rate discounts.
Interest rates
Fixed or variable
Minimum credit score
680
Minimum income
$35,000
Loan terms
5, 7, 10, or 15 years
Loan amounts
$1,000 - Cost of attendance
Cosigner release
A cosigner may not be taken off a loan, but the borrower can apply for a new loan without their cosigner.
Eligibility
All 50 states as well as Washington DC and Puerto Rico.
INvested: Best for Indiana students
Best for Indiana Students
INvested
3.5
Fox Money rating
on Credible’s website
Min. Credit Score
670
Fixed APR
4.95 - 8.82%
Variable APR
7.15 - 11.20%
Loan Amount
$1,001 up to 100% of school certified cost of attendance
Term
5, 10, 15
Pros and cons
Minimum borrowing amounts lower than some other lenders
Offers a quarter-point rate discount for using autopay
Cosigner release after as few as 12 on-time payments
Qualification requirements are easy to see online
Only Indiana residents can qualify for loans
Cannot prequalify to see rates without a hard credit pull
International students not eligible
More details
Overview
INvestEd is a student loan provider that offers loans exclusively to Indiana state residents. Students in the state and their parents who can meet INvestEd's income and credit requirements, or who have an eligible cosigner, are eligible. Loans of as little as $1,001 or as much as the school's cost of attendance minus other aid are available.
Potential borrowers can find detailed information on eligibility on INvestEd's website so they can determine whether or not to apply. But there's no option to prequalify with a soft credit check that doesn't affect your credit score. Cosigners can be released after just 12 on-time payments, which is considerably less time than many other lenders.
Interest rates
Fixed or variable
Minimum credit score
670
Minimum income
Does not disclose
Loan terms
5, 10, or 15 years
Loan amounts
$1,001 minimum, up to the school certified cost of attendance
Cosigner release
12 months
Eligibility
Loans are available to Indiana residents only. Borrowers must have a FICO score of 670 or higher, a 30% maximum debt-to-income ratio or minimum monthly income of $3,333, continuous employment over two years, and no major collections or defaults in recent years. Borrowers who do not meet income or credit requirements can apply with a cosigner.
MEFA: Best for borrowers with good credit
Best for borrowers with good credit
MEFA
3.1
Fox Money rating
on Credible’s website
Min. Credit Score
670
Fixed APR
5.75 - 8.95%
Variable APR
-
Loan Amount
$1,500 up to school’s certified cost of attendance less aid
Term
10, 15
Pros and cons
No fees at any stage, including late payment fees
Lower interest rates than many competitors
Can cover your school’s full cost of attendance
Variable rate loans are not offered
Fewer repayment term options than most lenders
No autopay rate discount
May be challenging to release a cosigner
No option to prequalify with a soft credit check
More details
Overview
Massachusetts Educational Financing Authority (MEFA) student loans fixed-rate options for undergraduate and graduate students across the country. MEFA's not-for-profit status helps it keep interest rates competitive, offering potentially lower borrowing costs than many other private lenders.
On the downside, flexibility is limited compared with some other lenders. Undergraduates can only choose between 10- or 15-year repayment terms, while graduate students must opt for a 15-year term. This might be restrictive if you're looking for more options. Cosigner release may also be a challenge. You'll need to make on-time payments for four consecutive years and meet specific credit and income criteria to release your cosigner.
Interest rates
Fixed
Minimum credit score
670
Minimum income
Does not disclose
Loan terms
10 or 15 years
Loan amounts
$1,500 minimum up to school-certified cost of attendance
Cosigner release
48 months
Eligibility
Must be a U.S. citizen or permanent resident, enrolled at least half time at a degree-granting, nonprofit institution, and must maintain satisfactory academic progress. Must have no history of default on an education loan and no history of bankruptcy or foreclosure in the past 60 months. Applicants who can’t meet the minimum credit and income requirements may apply with a cosigner.