Introduction
Pursuing higher education can be challenging for many as financial constraints often come in the way of getting admission to your dream college. College expenses go beyond scholarships and grants and often require students to pay a much larger amount to undertake a particular course.
Private student loans are the best options that can help you knock out your stress while taking admission to your dream university/college. This article from The CEO Views lists 10 lenders who offer the best student loans, especially private student loans, to help your child avail the best education facility. Let’s have a look at the list.
Best Student Loans to Avail in 2025
Here are the 10 Best private student loan lenders that students must consider in 2025 to pursue their higher academics-
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Ascent
Ascent is one of the most preferred financial partners of students who are looking for the best student loans. Ascent offers several repayment options, such as progressive repayment that starts with lower repayments and increases gradually.
Pros
The banker also offers a nine-month grace period before the payment starts for undergraduate and graduate students and a 12-month grace period for medical and dental graduates.
Cons
Comparatively high interest rates for borrowers who don’t apply with a co-signer.
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Earnest
Earnest is best for students looking for the best student loans at the lowest interest rates. Earnest is one of the best investing banks for students who are applying with a credit-worthy co-signer. It serves borrowers of international, graduate students, and DACA types.
Pros
It provides co-signed student loans with just 3.69% APR, which is extremely affordable.
Cons
The only drawback of availing student loans with Earnest is that borrowers must have at least three years of credit history to be eligible for the loan. This is not suitable for high school passedouts.
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ELFI
Compared to other banking institutions, ELFI has a speedy prequalification and application process. Hence, for borrowers who are looking for fast and the best student loans, ELFI is a good option.
Pros
ELFI offers loan forbearance of up to 12 months if the borrowers are in any financial crisis.
Cons
Similar to Earnest, ELFI also requires borrowers to have at least three years of credit history to get approval while applying with a co-signer.
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SoFi®
SoFi provides exclusive member benefits such as family rate discounts, rewards opportunities, and free advice from certified financial advisors.
Pros
It doesn’t charge any fees, including no late, origination, prepayment penalty, and insufficient funds fees. Along with that, SoFi also allows borrowers to lock in savings by securing the 0.25% autopay discounts. The most amazing facility offered by SoFi is best student loans qualify for another 0.25% rate discount if the borrower or co-signer is already a SoFi customer.
Cons
One must take 24 on-time loan payments before applying to get a co-signer release from SoFi.
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Custom Choice
Custom Choice lets borrowers lock in rate quotes for 30 days with only a soft credit check that doesn’t impact credit. Borrowers of Custom Choice are often eligible for multiple payment relief options during repayment.
Pros
As one of the best investing banks, Custom Choice offers payment assistance to borrowers who are affected by national disasters or unemployment. It also provides rewards to borrowers as they graduate, reducing their principal balance by 2%.
Cons
It only offers a co-signer release after the borrower makes 36 on-time loan payments.
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College Ave
College Ave provides a multi-year loan facility that assures loan approval for seven years. The bank says that 90% of undergraduates are approved for a loan with a co-signer.
Pros
It has a large portfolio of loan products for students who pursue advanced degrees requiring many years of schooling, such as law, medical, and business degrees.
Cons
The bank charges late fees, and interest rates may heighten if students do not have strong credit.
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Sallie Mae
A best investing veteran, Sallie Mae, provides loans to finance undergraduate and graduate degrees along with certificate programs in professional studies, such as aviation and culinary art.
Pros
Low-payment options are available, including deferment while in school. Also offers interest-only payments for 12 months once the post-graduation period finishes.
Cons
There is no way available for the bank to check interest rates without hard inquiry.
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Rhode Island Student Loan Authority
RISLA has less flexible student loans with only 10 and 15-year terms. However, it has low rate caps, making it a viable option for borrowers who find the terms feasible.
Pros
RISLA rewards students with up to $2,000 in loan forgiveness for interns, and nurses may be eligible for four years of no interest.
Cons
It lacks customizability, with only two loan term options. With the bank, borrowers can borrow the best student loans for a maximum of $50,000 per year.
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Nelnet
Nelnet offers the best student loans and parent loans for borrowers meeting the credit requirements.
Pros
Loan eligibility conditions are clearly defined by this best investing bank if the borrower has no co-signer. Borrowers must be eligible for a loan without a credit signer with a maximum credit score of 600.
Cons
Payment assistance availability is not clearly mentioned by the bank on its website.
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Citizens Bank
It is the best investing bank for rate discounts on student loans.
Pros
This bank offers a discount of 0.25% for using autopay. Another 0.25% discount can be obtained if the students and their co-signer have a Citizens Bank account open at the time of application.
Cons
No prequalification is provided without hard inquiry.
Conclusion
As this article lists the 10 best investing banks, it offers a clear understanding of the best student loans that students can avail of in the USA for higher studies. Be it an international student or a regional one, these banking institutions have options for all.
