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Updated: September 15, 2021

Best Private Student Loans for Graduate Students

Looking for a private student loan? It’s important to shop around for the best interest rate, fees, terms and conditions to suit your needs. Here are a few of our top picks for you to consider.

Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Advertising Disclosure
×

Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: Ascentfunding.com/Ts&Cs. Rates are effective as of 07/01/2021 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate future income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details. Cosigned Credit-Based Loan student borrowers must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your cosigner. 

3.32% - 12.93%
1.87% - 11.10%
7 years, 10 years, 12 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.32% - 12.93%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.87% - 11.10%
Terms
7 years, 10 years, 12 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Reward of $525 per successful referral, and Graduation Reward (1%)
Graduate Student Loan Rating
Advertising Disclosure
×

Pam Velazquez sends email

Student Loan Rate Disclosures

2.99% - 10.99%
0.99% - 9.89%
Up to 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.99% - 10.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
0.99% - 9.89%
Terms
Up to 15 years
Fees
No fees
Offers
Autopay discount (0.25%), Customizable payment due date, and Option to Skip 1 payment every 12 months
Graduate Student Loan Rating
Advertising Disclosure
4.13% - 10.90%
1.10% - 11.34%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.13% - 10.90%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.10% - 11.34%
Terms
5 years, 10 years, 15 years
Fees
No fees
Offers
Current customer discount (0.125%), Autopay discount (0.25%), and Cosigner release
Graduate Student Loan Rating
Advertising Disclosure
×

Lowest rates shown include the auto debit discount. Interest is charged starting when money is sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan's Current Principal at the end of the grace/separation period.

Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loam Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 Graduate School Loan with a 2-year in-school period.

The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.

3 Repayment options: Deferred repayment; $25 Fixed repayment; Interest repayment; Here is an example of a typical transaction for a $10,000 Graduate School Loan with the most common variable rate, the fixed repayment option, and two disbursements: For borrowers with a 27- month in-school and separation period, it works out to a 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a Total Loan Cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.

Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae-serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default, or 90-day delinquencies in the last 24 months.

Requirements are subject to change. Information advertised valid as of 07/22/2021.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Saving for College is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.

©2021 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks if Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

4.75% - 12.11%
2.12% - 11.64%
15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.75% - 12.11%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.12% - 11.64%
Terms
15 years
Fees
Late fees
Offers
0.25 percentage point interest rate reduction with autopay and borrowers can apply for cosigner release
Graduate Student Loan Rating
Advertising Disclosure
3.74% - 10.74%
3.81% - 9.34%
10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.74% - 10.74%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.81% - 9.34%
Terms
10 years, 15 years, 20 years
Fees
Origination fee (only for Graduate loans) and Late fees
Offers
Autopay discount (0.25%) and Cosigner release
Graduate Student Loan Rating
Advertising Disclosure
4.25% - 12.59%
1.13% - 11.23%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.25% - 12.59%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.13% - 11.23%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Cosigner release, and One-time payment due date change
Graduate Student Loan Rating
Advertising Disclosure
×

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

(1)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.

Information advertised valid as of 7/22/2021. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

4.74% - 12.23%
2.24% - 11.22%
5 years, 8 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.74% - 12.23%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.24% - 11.22%
Terms
5 years, 8 years, 10 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Graduation reward ($150), and Cosigner release
Graduate Student Loan Rating

You can also view the top private student loans for graduate students by category:

  • Best Rewards
  • Best for Borrowers without a Cosigner
  • Best Cosigner Release Option
  • Best Flexibility for Repayment
  • Best Deferment Options
  • Best Customer Service
  • Best Bank Lender
  • Top Rated

Be sure to pursue other options, such as any financial aid you receive from the FAFSA before turning to private student loans to fill any funding gaps. This may include scholarships, grants and work-study, or other student loan options such as a graduate plus loan.

Some private student loan lenders offer perks such as rewards for good grades and graduation, and autopay discounts. You may want to consider these incentives when evaluating your private student loan options for graduate student loans.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
×

Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: Ascentfunding.com/Ts&Cs. Rates are effective as of 07/01/2021 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate future income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details. Cosigned Credit-Based Loan student borrowers must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your cosigner. 

3.32% - 12.93%
1.87% - 11.10%
7 years, 10 years, 12 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.32% - 12.93%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.87% - 11.10%
Terms
7 years, 10 years, 12 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Reward of $525 per successful referral, and Graduation Reward (1%)
Graduate Student Loan Rating
4.49% - 11.99%
1.99% - 11.49%
Up to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.49% - 11.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.99% - 11.49%
Terms
Up to 20 years
Fees
No fees
Offers
Good grades reward, Autopay discount (0.25%), Interest-only repayment discount (0.35%), and Multi-year option
Graduate Student Loan Rating
Advertising Disclosure
×

Pam Velazquez sends email

Student Loan Rate Disclosures

2.99% - 10.99%
0.99% - 9.89%
Up to 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.99% - 10.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
0.99% - 9.89%
Terms
Up to 15 years
Fees
No fees
Offers
Autopay discount (0.25%), Customizable payment due date, and Option to Skip 1 payment every 12 months
Graduate Student Loan Rating

When shopping for graduate school loans, you may find that some eligibility requirements include having a cosigner. A cosigner is typically a parent or other adult who shares equal responsibility for your student loan. Even if you don't have bad credit, you may still need a cosigner if you don't have a steady income or solid credit history.
If you prefer to take out a loan without a cosigner, or you simply don't have one, consider one of these best private loans for borrowers without a cosigner.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
×

Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: Ascentfunding.com/Ts&Cs. Rates are effective as of 07/01/2021 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate future income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details. Cosigned Credit-Based Loan student borrowers must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your cosigner. 

3.32% - 12.93%
1.87% - 11.10%
7 years, 10 years, 12 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.32% - 12.93%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.87% - 11.10%
Terms
7 years, 10 years, 12 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Reward of $525 per successful referral, and Graduation Reward (1%)
Graduate Student Loan Rating
4.49% - 11.99%
1.99% - 11.49%
Up to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.49% - 11.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.99% - 11.49%
Terms
Up to 20 years
Fees
No fees
Offers
Good grades reward, Autopay discount (0.25%), Interest-only repayment discount (0.35%), and Multi-year option
Graduate Student Loan Rating
Advertising Disclosure
×

Pam Velazquez sends email

Student Loan Rate Disclosures

2.99% - 10.99%
0.99% - 9.89%
Up to 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.99% - 10.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
0.99% - 9.89%
Terms
Up to 15 years
Fees
No fees
Offers
Autopay discount (0.25%), Customizable payment due date, and Option to Skip 1 payment every 12 months
Graduate Student Loan Rating

If your parents are willing to help you pay for college, they may have considered a federal Parent PLUS loan. However, depending on their credit score, your parent may be able to qualify for a lower interest rate by cosigning a loan with you.
Some lenders offer a cosigner release option, which is ideal for parents who are willing to help you get a loan but may not want a long-term commitment. Here is a list of the student loan providers with the best cosigner release options.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
×

Lowest rates shown include the auto debit discount. Interest is charged starting when money is sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan's Current Principal at the end of the grace/separation period.

Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loam Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 Graduate School Loan with a 2-year in-school period.

The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.

3 Repayment options: Deferred repayment; $25 Fixed repayment; Interest repayment; Here is an example of a typical transaction for a $10,000 Graduate School Loan with the most common variable rate, the fixed repayment option, and two disbursements: For borrowers with a 27- month in-school and separation period, it works out to a 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a Total Loan Cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.

Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae-serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default, or 90-day delinquencies in the last 24 months.

Requirements are subject to change. Information advertised valid as of 07/22/2021.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Saving for College is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.

©2021 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks if Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

4.75% - 12.11%
2.12% - 11.64%
15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.75% - 12.11%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.12% - 11.64%
Terms
15 years
Fees
Late fees
Offers
0.25 percentage point interest rate reduction with autopay and borrowers can apply for cosigner release
Graduate Student Loan Rating
Advertising Disclosure
4.75% - 12.11%
2.12% - 11.64%
15 to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.75% - 12.11%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.12% - 11.64%
Terms
15 to 20 years
Fees
Late fees
Offers
Autopay discount (0.25%) and Cosigner release
Graduate Student Loan Rating
Advertising Disclosure
×

Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: Ascentfunding.com/Ts&Cs. Rates are effective as of 07/01/2021 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate future income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details. Cosigned Credit-Based Loan student borrowers must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your cosigner. 

3.32% - 12.93%
1.87% - 11.10%
7 years, 10 years, 12 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.32% - 12.93%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.87% - 11.10%
Terms
7 years, 10 years, 12 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Reward of $525 per successful referral, and Graduation Reward (1%)
Graduate Student Loan Rating

Your repayment term will vary depending on the loan and lender you choose. Flexibility is critical for all borrowers, since anyone can be faced with an unexpected setback such as a job loss or medical emergency.
The following lenders offer graduate students the most flexibility when it comes to a repayment plan, repayment terms, your monthly payment, your loan term, grace periods, forbearances and discharge options.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
×

Pam Velazquez sends email

Student Loan Rate Disclosures

2.99% - 10.99%
0.99% - 9.89%
Up to 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.99% - 10.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
0.99% - 9.89%
Terms
Up to 15 years
Fees
No fees
Offers
Autopay discount (0.25%), Customizable payment due date, and Option to Skip 1 payment every 12 months
Graduate Student Loan Rating
Advertising Disclosure
4.75% - 12.11%
2.12% - 11.64%
15 to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.75% - 12.11%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.12% - 11.64%
Terms
15 to 20 years
Fees
Late fees
Offers
Autopay discount (0.25%) and Cosigner release
Graduate Student Loan Rating
Advertising Disclosure
4.13% - 10.90%
1.10% - 11.34%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.13% - 10.90%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.10% - 11.34%
Terms
5 years, 10 years, 15 years
Fees
No fees
Offers
Current customer discount (0.125%), Autopay discount (0.25%), and Cosigner release
Graduate Student Loan Rating

Deferment allows you to temporarily pause or reduce your student loan payments. This option is commonly used when a borrower goes back to college or starts an internship, fellowship or residency.
Overall, a federal student loan offers more deferment options than a private loan. But, there are some private lenders that allow borrowers to pause payments in certain situations. The following private lenders offer the best deferment options for graduate students.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
4.25% - 12.59%
1.13% - 11.23%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.25% - 12.59%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.13% - 11.23%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Cosigner release, and One-time payment due date change
Graduate Student Loan Rating
Advertising Disclosure
×

Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: Ascentfunding.com/Ts&Cs. Rates are effective as of 07/01/2021 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate future income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details. Cosigned Credit-Based Loan student borrowers must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your cosigner. 

3.32% - 12.93%
1.87% - 11.10%
7 years, 10 years, 12 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.32% - 12.93%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.87% - 11.10%
Terms
7 years, 10 years, 12 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Reward of $525 per successful referral, and Graduation Reward (1%)
Graduate Student Loan Rating
Advertising Disclosure
×

Lowest rates shown include the auto debit discount. Interest is charged starting when money is sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan's Current Principal at the end of the grace/separation period.

Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loam Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 Graduate School Loan with a 2-year in-school period.

The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.

3 Repayment options: Deferred repayment; $25 Fixed repayment; Interest repayment; Here is an example of a typical transaction for a $10,000 Graduate School Loan with the most common variable rate, the fixed repayment option, and two disbursements: For borrowers with a 27- month in-school and separation period, it works out to a 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a Total Loan Cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.

Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae-serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default, or 90-day delinquencies in the last 24 months.

Requirements are subject to change. Information advertised valid as of 07/22/2021.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Saving for College is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.

©2021 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks if Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

4.75% - 12.11%
2.12% - 11.64%
15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.75% - 12.11%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.12% - 11.64%
Terms
15 years
Fees
Late fees
Offers
0.25 percentage point interest rate reduction with autopay and borrowers can apply for cosigner release
Graduate Student Loan Rating

When shopping for a private education loan, don’t forget about customer service. Many borrowers have had issues with student loan companies, but fortunately complaints are often documented.
The list below includes the private student loan lenders with the best customer service, based on self-service options, call center characteristics, popularity and complaint rates.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
6.12% - 9.77%
5.12% - 8.84%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
6.12% - 9.77%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
5.12% - 8.84%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%) and Multi-year option
Graduate Student Loan Rating
4.49% - 11.99%
1.99% - 11.49%
Up to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.49% - 11.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.99% - 11.49%
Terms
Up to 20 years
Fees
No fees
Offers
Good grades reward, Autopay discount (0.25%), Interest-only repayment discount (0.35%), and Multi-year option
Graduate Student Loan Rating
Advertising Disclosure
×

Lowest rates shown include the auto debit discount. Interest is charged starting when money is sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan's Current Principal at the end of the grace/separation period.

Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loam Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 Graduate School Loan with a 2-year in-school period.

The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.

3 Repayment options: Deferred repayment; $25 Fixed repayment; Interest repayment; Here is an example of a typical transaction for a $10,000 Graduate School Loan with the most common variable rate, the fixed repayment option, and two disbursements: For borrowers with a 27- month in-school and separation period, it works out to a 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a Total Loan Cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.

Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae-serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default, or 90-day delinquencies in the last 24 months.

Requirements are subject to change. Information advertised valid as of 07/22/2021.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Saving for College is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.

©2021 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks if Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

4.75% - 12.11%
2.12% - 11.64%
15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.75% - 12.11%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.12% - 11.64%
Terms
15 years
Fees
Late fees
Offers
0.25 percentage point interest rate reduction with autopay and borrowers can apply for cosigner release
Graduate Student Loan Rating

Unlike federal student aid, which comes from the government, you can get a private student loan from a bank, credit union or online lender. In some cases, you may be able to qualify for a lower interest rate if you borrow a student loan from the bank you already use.
Here is a list of the best bank lenders that offer student loans, based on costs, eligibility criteria, flexibility and customer service.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
×

Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: Ascentfunding.com/Ts&Cs. Rates are effective as of 07/01/2021 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate future income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details. Cosigned Credit-Based Loan student borrowers must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your cosigner. 

3.32% - 12.93%
1.87% - 11.10%
7 years, 10 years, 12 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.32% - 12.93%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.87% - 11.10%
Terms
7 years, 10 years, 12 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Reward of $525 per successful referral, and Graduation Reward (1%)
Graduate Student Loan Rating
4.18% - 10.95%
1.89% - 10.41%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.18% - 10.95%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.89% - 10.41%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Current customer discount (0.25%), Autopay discount (0.25%), and Cosigner release
Graduate Student Loan Rating
Advertising Disclosure
4.75% - 12.11%
2.12% - 11.64%
15 to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.75% - 12.11%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.12% - 11.64%
Terms
15 to 20 years
Fees
Late fees
Offers
Autopay discount (0.25%) and Cosigner release
Graduate Student Loan Rating

Savingforcollege.com has developed a methodology for ranking private student loans based on a set of objective criteria. Here are the top 10 best private student loans for graduate school:

Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Advertising Disclosure
×

Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: Ascentfunding.com/Ts&Cs. Rates are effective as of 07/01/2021 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate future income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Click here for details. Cosigned Credit-Based Loan student borrowers must have a minimum credit score. The minimum score required is subject to change and may depend on the credit score of your cosigner. 

3.32% - 12.93%
1.87% - 11.10%
7 years, 10 years, 12 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.32% - 12.93%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.87% - 11.10%
Terms
7 years, 10 years, 12 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Reward of $525 per successful referral, and Graduation Reward (1%)
Graduate Student Loan Rating
4.49% - 11.99%
1.99% - 11.49%
Up to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.49% - 11.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.99% - 11.49%
Terms
Up to 20 years
Fees
No fees
Offers
Good grades reward, Autopay discount (0.25%), Interest-only repayment discount (0.35%), and Multi-year option
Graduate Student Loan Rating
Advertising Disclosure
×

Pam Velazquez sends email

Student Loan Rate Disclosures

2.99% - 10.99%
0.99% - 9.89%
Up to 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.99% - 10.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
0.99% - 9.89%
Terms
Up to 15 years
Fees
No fees
Offers
Autopay discount (0.25%), Customizable payment due date, and Option to Skip 1 payment every 12 months
Graduate Student Loan Rating
Advertising Disclosure
4.13% - 10.90%
1.10% - 11.34%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.13% - 10.90%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.10% - 11.34%
Terms
5 years, 10 years, 15 years
Fees
No fees
Offers
Current customer discount (0.125%), Autopay discount (0.25%), and Cosigner release
Graduate Student Loan Rating
Advertising Disclosure
×

Lowest rates shown include the auto debit discount. Interest is charged starting when money is sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan's Current Principal at the end of the grace/separation period.

Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loam Advertised variable rates reflect the starting range of rates and may vary outside of that range over the life of the loan. Advertised APRs assume a $10,000 Graduate School Loan with a 2-year in-school period.

The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment, if available for the loan.

3 Repayment options: Deferred repayment; $25 Fixed repayment; Interest repayment; Here is an example of a typical transaction for a $10,000 Graduate School Loan with the most common variable rate, the fixed repayment option, and two disbursements: For borrowers with a 27- month in-school and separation period, it works out to a 11.49% variable APR, 27 payments of $25.00, 179 payments of $139.96 and one payment of $27.70, for a Total Loan Cost of $25,755.54. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 15 years. Variable rates may increase over the life of the loan.

Only the borrower may apply for cosigner release. Borrowers who meet the age of majority in their state may apply for cosigner release by providing proof of graduation (or completion of certification program), income, and U.S. citizenship or permanent residency (if your status has changed since you applied). In the last 12 months, the borrower must be current on all Sallie Mae-serviced loans (including no hardship forbearances or modified repayment programs) and have paid ahead or made 12 on-time principal and interest payments on each loan requested for release. When the cosigner release application is processed, the borrower must demonstrate the ability to assume full responsibility of the loan(s) individually and pass a credit review that demonstrates a satisfactory credit history including but not limited to no: bankruptcy, foreclosure, student loan(s) in default, or 90-day delinquencies in the last 24 months.

Requirements are subject to change. Information advertised valid as of 07/22/2021.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Saving for College is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers.

©2021 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks if Sallie Mae Bank. All other names and logos used are the trademarks or service marks of their respective owners. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.

4.75% - 12.11%
2.12% - 11.64%
15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.75% - 12.11%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.12% - 11.64%
Terms
15 years
Fees
Late fees
Offers
0.25 percentage point interest rate reduction with autopay and borrowers can apply for cosigner release
Graduate Student Loan Rating
4.18% - 10.95%
1.89% - 10.41%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.18% - 10.95%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.89% - 10.41%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Current customer discount (0.25%), Autopay discount (0.25%), and Cosigner release
Graduate Student Loan Rating
Advertising Disclosure
3.74% - 10.74%
3.81% - 9.34%
10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.74% - 10.74%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.81% - 9.34%
Terms
10 years, 15 years, 20 years
Fees
Origination fee (only for Graduate loans) and Late fees
Offers
Autopay discount (0.25%) and Cosigner release
Graduate Student Loan Rating
Advertising Disclosure
4.25% - 12.59%
1.13% - 11.23%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.25% - 12.59%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.13% - 11.23%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Cosigner release, and One-time payment due date change
Graduate Student Loan Rating
Advertising Disclosure
4.75% - 12.11%
2.12% - 11.64%
15 to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.75% - 12.11%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.12% - 11.64%
Terms
15 to 20 years
Fees
Late fees
Offers
Autopay discount (0.25%) and Cosigner release
Graduate Student Loan Rating
Advertising Disclosure
×

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

(1)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.

Information advertised valid as of 7/22/2021. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

4.74% - 12.23%
2.24% - 11.22%
5 years, 8 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.74% - 12.23%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.24% - 11.22%
Terms
5 years, 8 years, 10 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%), Graduation reward ($150), and Cosigner release
Graduate Student Loan Rating
How do I pay for graduate school?

First consider options for free money – scholarships, fellowships, grants, teaching and research assistantships, employer-paid tuition assistance, and more. If you need to borrow graduate student loans, first borrow federal loans. After borrowing the Federal Direct Stafford Loan and the Federal Grad PLUS Loan, if you still need funds for graduate school, consider private student loans. Keep costs as low as possible and borrow responsibly.

How do graduate student loans work?

Graduate student loans work similar to student loans for an undergraduate degree. Every dollar borrowed needs to be repaid, plus interest. All student loans, both federal and private, accrue interest. If you miss a student loan payment down the road, you will have negative consequences, including impacts on your credit.

What is the Grad PLUS loan?

A Grad PLUS loan is a federal student loan specifically for students pursuing a graduate or professional degree. Unlike federal student loans for undergraduate students, you will need to undergo a modest credit check to be approved.

How do I apply for a Grad PLUS loan?

You can apply for a Grad PLUS loan online. Before applying, you must complete the Free Application for Federal Student Aid, or the FAFSA.

Why should I borrow the Federal Grad PLUS loan before private graduate loans?

Federal Grad PLUS loans offer several federal benefits that private loans do not. This includes potential loan forgiveness and the option to temporarily stop or lower payments on your loan. If you have excellent credit, however, you might be able to qualify for a lower interest rate on a private graduate loan.

What are the requirements for a private graduate student loan?

Each lender has different requirements for approval for graduate student loans. In general, you will need a good credit score, a solid credit history, attend an accredited school, and have a steady income and low debt-to-income ratio. A creditworthy cosigner may be required.

How much should I borrow to pay for my graduate school education?

You should keep your total student loan debt, including any outstanding undergraduate debt, in sync with your income after graduation. If your total student loan debt at graduation, including federal and private student loans, is no more than your annual starting salary, you should be able to afford to repay your student loans in ten years or less.

What is the difference between fixed and variable interest rates?

Fixed rates remain the same throughout the life of the loan. Variable interest rates can fluctuate. Borrowers may be persuaded to choose a variable interest rate because it is lower, but keep in mind, this interest rate may eventually grow beyond the current fixed rate option.

When do I have to start repaying graduate student loans?

Most private student loan lenders give borrowers the option to postpone payments until six months after you graduate or drop below half-time enrollment. After the six-month grace period is over, you will be required to make full payments.

Should I ask someone to cosign my student loan?

If you don’t qualify for graduate loan on your own, you can consider asking a friend or relative to cosign your loans. Cosigners should understand how it works and the potential risks. Cosigners are equally responsible for repaying the debt just like the student borrower. Being a cosigner affects your credit and will increase your debt-to-income ratio. This could make it more difficult to get approved for other loans, such as credit cards, auto loans and home mortgages.

How do I choose a lender for a graduate student loan?

Shop around to compare interest rates offered, the terms of the loan, the requirements for approval, repayment options and reviews. You may also want to consider, if there is a cosigner release option and what the deferment options are.

Important Disclaimers

Savingforcollege.com provides our readers with free access to objective information, articles and tools to help them make informed decisions about saving and paying for education. We are able to do this because we are compensated by our partners, including some private student lenders. Some, though not all, of the products featured here are offered by partners who may pay us a sales commission. Our partnerships do not influence our ratings or reviews, which are based on in-depth research and objective methodologies, though they may influence which products we write about and where those products appear on our site. Our opinions are our own.

While Savingforcollege.com strives to keep our information up to date, the lender rates, terms and other information are subject to change at any time.

Exhaust all other resources, such as scholarships and grants, before borrowing student loans. If you need to borrow loans, federal student loans offer many benefits that private student loans do not. Read the fine print and disclaimer from any potential lender and understand how student loans work before borrowing.

Savingforcollege.com is an independent publisher. We do not provide legal, financial, accounting or tax advice. The information and tools published on this website are general in nature and may not apply to your specific circumstances. You should seek specific guidance from a qualified legal, financial, accounting or tax professional.

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