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Once you’ve exhausted federal aid, private student loans can help fill in gaps in college funding. Learn how to find the best private student loan option for you.
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Home » Student Loans » Private Student Loans
Private Student Loans
Editor's Picks for Private Student Loans
Having a student loan cosigner is a great way to get approved for a private student loan and qualify for a lower interest rate. A cosigner can be any responsible adult who fits the criteria. Look for a lender that offers cosigner release as a way to relieve your cosigner of their responsibility once you’ve made a series of on-time payments.
Compare lenders for Private Student Loans. See which lenders you can work with to cover the cost of attending school this year!
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Colleges and lenders have programs in place to help you make ends meet when you need it most. Learn more about emergency help, including federal, state, institutional and private student loan options.
Most Popular Private Student Loan Articles
What are Private Student Loans
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Private student loans provide you with an opportunity to borrow money to pay for your college, university, or other post-secondary educational expenses. Unlike federal student loans, private student loans are not funded by the government and are typically subject to private lenders’ terms and conditions.
Pros and Cons of Private Student Loans
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Learn the pros and cons of Private student loans, including borrowing up to your school’s certified cost of attendance, and potentially lower interest rates than federal student loans.
How to Find a Creditworthy Cosigner
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The rising costs of college have made it more difficult to cover all the costs without having to borrow money in many cases. Private student loan lenders generally want student borrowers, (who for the most part lack a credit history), to have a cosigner to ensure the loan has a higher probability of being repaid on-time and in full.
Private Student Loans
A private student loan is a credit-based loan for college that can cover the gap between financial aid received and the full cost of attendance. Private student loans are issued by private lending institutions, such as banks and credit unions.
Private student loan terms and conditions vary by lender. However, there are some terms and conditions that tend to be pretty similar from lender to lender.
One way to find a private lender that works with your school is to contact your school’s financial aid office, you can also enter your school on the home page of Edvisors.com to see a list of lenders that work with your school.
The exact amount of time it takes to get a private student loan will vary by lender, school, and time of year. Generally, the process can take as little as two weeks and as long as two months.
Unless you have a strong credit rating and history, you will probably need to apply for a private student loan with a credit-worthy cosigner.
Yes, some private student loan lenders offer options for students who are seeking professional training and trade certificate programs.
What are Private Student Loans
What are Private Student Loans
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Private student loans provide you with an opportunity to borrow money to pay for your college, university, or other post-secondary educational expenses. Unlike federal student loans, private student loans are not funded by the government and are typically subject to private lenders’ terms and conditions.
Pros and Cons of Private Student Loans
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Learn the pros and cons of Private student loans, including borrowing up to your school’s certified cost of attendance, and potentially lower interest rates than federal student loans.
Private Student Loan Interest Rates
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Find current private student loan interest rates and compare to federal student loan interest rates to find the loan that is right for you.
Private Student Loans: Myth vs. Reality
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Have you heard a lot about private student loans? We're busting 7 common myths with expert advice.
Compare your student loan options easily with our comparison tables. Understand the benefits of Direct subsidized and unsubsidized loans, PLUS loans, and private student loans.
How do Private Student Loans Work
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With private student loans, you must carefully consider your options to select a loan with terms that fit your needs.
Student Loans Without a Credit History
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If you have poor or no credit score, or don’t have a creditworthy cosigner it is likely you won’t be eligible for a traditional private student loan.
History of Student Loans
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Student loans in America can be traced back to the introduction of the GI Bill of 1944 and the Higher Education Act of 1965.
Can You Transfer Your Student Loans
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Questioning the ability to transfer student loans to another lender is common among borrowers because it can lead to better repayment terms and lower interest rates . This action is more typically referred to as consolidation or loan refinancing.
Choosing the right type of interest rate for your private student loan is essential for your long-term financial health. Interest rates can be either fixed or variable, and each comes with its own set of advantages and disadvantages.
Borrowing smartly from the start is one of the best decisions you can make when it comes to student loans. By only borrowing what you truly need and exploring alternatives like scholarships, grants, or part-time work, you can avoid taking on unnecessary debt.
Understanding graduate student loan interest rates is key to making smart financial decisions, whether you're taking out a loan or repaying one. Interest rates determine how much you'll pay on top of the amount you borrow, so they directly affect the total cost of your loan.
How to Get a Private Student Loan
Low Interest Student Loans
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Student loans are often necessary to help pay for college. Finding low interest student loans will help save money on the total cost of your education.
Responsible Student Loan Borrowing
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Are you worried about graduating with a mountain of debt? We've got some great strategies to help you borrow responsibly while making your college dreams a reality.
When shopping for student loans, it's helpful to know the average student loan interest rate of private and federal student loans.
Best Private Student Loans for May 2025
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Once you’ve exhausted federal aid, private student loans can help fill in gaps in college funding. Learn how to find the best private student loan option for you.
Student Loan APR: Calculating the Real Costs
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Federal student loan interest rates are as low as 6.53%, and private loans start around 5.09%. But what does it really cost to borrow? Origination fees and other factors make a big difference on federal and private student loans.
Student Loan Handbook
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Student Loan Hacks
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You can conquer your student loan debt. Here are some hacks, including tips on loan forgiveness, to help ease the burden of student loan debt.
Private Student Loan Forgiveness
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Private student loan forgiveness does not exist; at least not in the same way that federal student loan forgiveness exists. This article will examine some of the things you may be able to explore with your lender, or potentially with your attorney if you’re pursuing bankruptcy.
How Long Does it Take to Get a Student Loan
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You may be wondering how long it takes to get a student loan? Generally speaking, you can expect your application to be processed in as little as a few days, to as many as a few weeks, but it could be months before the loan is disbursed.
Where Can I Find Student Loans
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If you are looking for a student loan, there are a number of options available to you. Depending on your situation, you may be able to choose from federal loans, private loans or both.
How to Apply for a Private Student Loan
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Private student loans are educational loans provided by private lenders such as banks, credit unions, online lenders, and other financial institutions. Private student loans typically require a credit check and may require a co-signer if the your credit score is low or if you have little or no income. The interest rates on private student loans may be variable or fixed.
For many families, student loans are a key part of making college affordable. With the rising costs of tuition, housing, and other expenses, not everyone can pay for college out of pocket. That’s where student loans come in—they provide the financial support you need to invest in your education and your future.
Types of Private Financial Aid
Private Parent Student Loans
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Several lenders offer private loans specifically for the parents of college students. Learn more about the costs and benefits of Private Parent Loans.
Student Loans for Nursing School
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There are federal and private student loans available for nursing school. Once you’ve exhausted federal student loans, private student loans may help you fill the funding gap. Learn more about your federal and private student loans options.
Emergency Student Loans
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Colleges and lenders have programs in place to help you make ends meet when you need it most. Learn more about emergency help, including federal, state, institutional and private student loan options.
Income Share Agreements (ISAs) provide students with money to pay for college in exchange for a percentage of their income after graduation. Learn about using ISAs to pay for college.
What are Institutional Loans for Students?
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Many colleges and universities offer their own loans to help students and families pay for college. Institutional loan funds typically come from the college’s resources, alumni, corporations, foundations, donors and repayments from prior college loan borrowers.
Best International Student Loans
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International students have limited U.S. loan options when it comes to borrowing to pay for college. There are lenders that work with international students, particularly if they have an eligible cosigner.
Are you a Texas resident or an out-of-state student attending a school in Texas? Discover student loan options specifically for students in Texas.
Higher education in Texas can be expensive, with tuition, fees, books, and living costs adding up quickly, making it necessary to borrow money to pay for everything. That’s why it’s so important for you to find the right student loan to help manage those expenses.
Learn which student loans do not require a credit check, and what you need to know to qualify for credit-based student loans.
You may be excited to know that you can use federal student aid, federal student loans, and private loans to cover the cost of attending many online colleges.
Student Financial Aid
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You may be wondering how you can afford to go to college. Financial aid is a way for you to get money to help cover the cost of your education. Financial aid comes in different forms such as grants, scholarships, work-study programs, and loans. This money is provided to you to make college more affordable and accessible.
Private Student Loans for Trade Schools
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Attending trade school can be beneficial for a number of reasons. First and foremost, a trade school can save money when compared with traditional 4-year degree programs at colleges and universities. Because trade programs typically shorter than four-years, overall tuition costs are typically lower.
When considering your loan options, many students and parents wonder why they have to borrow a student loan. If they find a personal loan with better terms, or they’ve hit their student loan limits, wouldn’t this be an “okay” choice? While borrowing money is ultimately the choice of the borrower, it’s important to understand how each type of debt works before you make that decision.
Student Loans for Community College
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One of the main advantages of a community college is that it can be much more affordable than attending a traditional four-year university. Community colleges are typically less expensive to attend, as tuition and other associated fees tend to be lower. That being said, you may need help paying for tuition and books even at a community college,
If you’re planning to go to college in New Jersey, student loans might be something you’ll rely on to make your education possible. Many students and families can’t afford to pay the full cost of tuition, room, and board out of pocket, and that’s where student loans come in.
Pros and Cons of Parent Student Loans
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As a parent, you want to support your child’s educational dreams and help build a strong financial future for them, but should taking out a loan really be part of that plan? Before you sign on the dotted line, it's important to know what options are available to you and you’ll want to understand all the pros and cons associated.
What is a Parent Student Loan
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The cost of tuition is constantly rising, sometimes making it tough to cover all their expenses without incurring some kind of debt. One option that may help bridge the gap and keep your child from incurring debt is a Parent Student Loan. There are two main types of parent student loans: Federal Parent PLUS Loans and Private Parent Student Loans.
If you're a Massachusetts resident looking to fund your college education, student loans can play a big role in making your dreams a reality. For many students and families, loans are an essential part of covering tuition, housing, books, and other expenses.
Credit Union Student Loans for Parents
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A credit union student loan for parents is a type of loan meant for parents who want to help their child pay for college but may not have enough money in savings or a 529 plan to cover all the costs. The loan can be used to pay for tuition, books, living expenses and other costs associated with attending college.
Best Parent Student Loans for May 2025
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Thinking about how to pay for your kid's college might feel pretty scary. With there being so many loans out there, how do you pick the right one? Don't worry, we've here to help! We'll review your loan options, highlighting their key features and advantages.
Refinancing Parent Student Loans
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The decision to refinance a parent student loan will depend on what your circumstances are along with the type of parent student loan you have.
Choosing the right student loan is a big deal, especially if you’re an Illinois resident getting ready to pay for college. Not all student loans are created equal, and making a smart choice now can save you money and stress later on.
Paying for college can feel impossible, especially with the rising costs that make it harder for many families to afford. It’s no surprise that student loans often become the go-to option, but they can leave you or your child with years of debt to pay off.
Student Loans for Summer School
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Summer school is a great way for you to stay on track with your education or even get ahead. By taking summer classes, you can earn credits faster, graduate earlier, or catch up on any classes you might have missed. It’s a smart option if you want to make the most of your time and reach your academic goals more quickly.
Graduate private student loans are loans offered by private lenders to help graduate students pay for their education. These loans are different from federal student loans, which are funded by the government. Private student loans usually have terms and conditions set by the lender, including interest rates, repayment plans, and credit requirements.
Graduate student loans are a key resource for many people pursuing advanced degrees. Since graduate programs can be expensive, these loans help cover the cost of tuition, books, living expenses, and other essentials. They allow you to focus on your studies without worrying about how to pay for it all upfront.
Graduate school can be expensive, and most students don’t have the savings to cover the full cost of tuition, fees, and living expenses. That’s why loans are common among graduate students who often rely on them to make their education possible.
The cost of education in California has been rising steadily over the years, making it harder for students and families to afford college without extra help. Choosing the right student loan can make or break your financial future.
Student Loan Cosigners and Credit
Do Student Loans Affect Credit Score?
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Your credit score is positively affected by the on-time student loan payments you make, and negatively affected when you miss or make late paymentsYour credit score is positively affected by the student loan payments you make, and negatively affected when you don’t make payments..
How Does Interest on Student Loans Work?
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Interest on a student loan is the cost you pay for borrowing money. Federal and private student loans have different interest rates and formulas for calculating interest.
Private Student Loans and Credit
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Credit is a big factor in getting approved for a private loan for college. Learn how banks judge your credit and how this affects your loan options.
Having a student loan cosigner is a great way to get approved for a private student loan and qualify for a lower interest rate. A cosigner can be any responsible adult who fits the criteria. Look for a lender that offers cosigner release as a way to relieve your cosigner of their responsibility once you’ve made a series of on-time payments.
Student Loans Without a Cosigner
Updated on
Students who do not have a cosigner are still eligible for student loans. Options include federal student loans, as well as some private lenders if you qualify. Learn more.
How to Find a Creditworthy Cosigner
Updated on
The rising costs of college have made it more difficult to cover all the costs without having to borrow money in many cases. Private student loan lenders generally want student borrowers, (who for the most part lack a credit history), to have a cosigner to ensure the loan has a higher probability of being repaid on-time and in full.
A cosigner is someone who agrees to share responsibility for repaying the loan if the primary borrower (you, the student) cannot make payments. This person can be a parent, relative, or even a friend. So, yes, having a cosigner can help get a private student loan.
Graduate Student Loans Without a Cosigner
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Finding money for grad school can be stressful, especially without a cosigner. But don’t worry, there are options just for you. Many graduate students face this challenge, but there are loans specifically designed to help those without a cosigner.
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