Private Loan Companies

About Ascent

Ascent Funding offers private undergraduate, graduate, and certain career-training loans, including credit-based loans with cosigners and non-cosigned options for eligible students. Its outcomes-based products can consider academic progress and future earning potential for applicants with limited credit history.

Requirements

• Attend an Ascent-eligible school and meet the enrollment requirements for the selected loan program.
• Credit-based applicants must meet credit and income underwriting requirements.
• Some eligible students can qualify without a cosigner under a credit-based or outcomes-based product.
• International and DACA students may qualify with an eligible U.S. cosigner, depending on the program.

Loan details

Minimum: $2,001 ($6,001 in Massachusetts).

Maximum: Up to 100% of school-certified cost of attendance, minus other aid. Aggregate limits are $200,000 for undergraduate and $400,000 for graduate programs. Non-cosigned, outcomes-based undergraduate loans have a $20,000 annual limit.

Repayment choices and benefits vary by product and may include a nine-month grace period, autopay reductions, and a conditional graduation reward.

About LendKey

LendKey operates an education-lending platform that connects borrowers to private student loans from participating community banks and credit unions. It helps undergraduate and graduate students cover school-certified education costs and also offers student loan refinancing. Loan pricing and approval depend on the participating lender and borrower or cosigner creditworthiness; eligible loans can include flexible in-school payments and cosigner-release options.

Requirements

• Be enrolled at least half-time in a degree-granting program.
• Be a U.S. citizen or permanent resident in an eligible state and at least the age of majority.
• Meet the participating bank’s or credit union’s credit and income requirements.

Loan details

Minimum: $1,000.

Maximum: Up to 100% of school-certified cost of attendance, minus other aid and subject to the participating lender’s limits.

Advertised APRs include a 0.25% autopay discount. In-school plans may include $25 fixed, interest-only, or immediate repayment.

About Earnest

Earnest offers undergraduate, graduate, and parent student loans as well as student loan refinancing. Its education loans feature several terms, multiple repayment choices, and a nine-month grace period for eligible loans.

Requirements

• Be enrolled at least half-time in an undergraduate or graduate degree program at an eligible school.
• Meet applicable age, citizenship or residency, and credit-underwriting requirements.
• The school must certify eligible education expenses and enrollment.

Loan details

Minimum: $1,000.

Maximum: Up to 100% of school-certified cost of attendance, minus other aid and subject to approval.

In-school choices may include deferred, $25 fixed, interest-only, or immediate principal-and-interest payments. Terms commonly include 5, 7, 10, 12, or 15 years.

About College Ave

College Ave helps students and families finance higher education through undergraduate, graduate, career, and parent loan programs. Borrowers can choose repayment plans, loan terms, and payment schedules that fit their needs.

Requirements

• Be enrolled at an eligible school.
• Be at least 16 years old and have a valid Social Security number.
• Maintain satisfactory academic progress as defined by your school.
• Pass a credit review and stay within the school-certified cost of attendance.

Loan details

Minimum: Not specified.

Maximum: Up to 100% of school-certified cost of attendance.

About Abe

Abe is a private education-loan program offered through Monogram LLC, with loans funded by DR Bank. It helps undergraduate and graduate or professional students cover the gap between financial aid and the school’s cost of attendance.

Requirements

• Be enrolled or enrolling in a degree-granting program at an eligible school.
• Be the legal age of majority, or at least 17 with an eligible adult cosigner.
• Be a U.S. citizen or permanent resident. DACA recipients and international students may apply with an eligible U.S. cosigner.
• Meet credit and income underwriting standards.

Loan details

Minimum: Varies.

Maximum: Up to 100% of school-certified cost of attendance, minus other aid. Aggregate limits are $300,000 for undergraduate, $350,000 for most graduate, and $500,000 for medical or dental programs.

Partner program: Abe partnership program.

About ISL Education Lending

ISL Education Lending is a nonprofit organization that provides private student loans, parent loans, and student loan refinancing. It also offers scholarships, college-planning tools, and financial education resources.

Requirements

• Be the age of majority in your state and attend an eligible school.
• Be a U.S. citizen or permanent resident living in the United States.
• Have no prior student loan defaults.
• Meet credit and underwriting requirements and borrow within the school-certified cost of attendance.

Loan details

Minimum: Not specified.

Maximum: Up to 100% of school-certified cost of attendance, minus other aid.

Approval is based on the borrower’s or cosigner’s creditworthiness. These private loans are intended to supplement other financial aid.

About SoFi

SoFi offers private undergraduate student loans for tuition and other school-certified education expenses. Borrowers may choose from fixed- and variable-rate options with multiple repayment terms.

Requirements

• Be enrolled at least half-time in an eligible degree program at a participating school.
• Be pursuing at least a bachelor’s degree.
• Complete the loan application and required self-certification form.
• Have eligible citizenship or residency status and meet credit, income, and underwriting standards.

Loan details

Minimum: $1,000, with higher minimums in certain states.

Maximum: Up to 100% of school-certified education costs, with a $99,999 limit per application.

About Nelnet Bank

Nelnet Bank is an FDIC-insured bank providing private undergraduate and graduate student loans and parent education loans. Loans are credit-based, require school certification, and can cover eligible costs not met by other aid.

Requirements

• Be enrolled at least half-time in a Title IV-eligible program at an approved school.
• Be a U.S. citizen or permanent resident with a valid Social Security number.
• Meet age-of-majority rules.
• Show ability to repay, pass a credit review, and have no student loan default.

Loan details

Minimum: $1,000.

Maximum: $125,000 for undergraduate, $175,000 for most graduate and professional, and $500,000 for graduate health-professions programs, subject to school certification and aggregate debt limits.

Repayment choices include immediate, interest-only, $25 fixed payments, or deferred payments while in school. Rates differ for graduate and parent programs.

About Sallie Mae

Sallie Mae provides private student loans for undergraduate, graduate, and career-training programs. It also offers college-planning resources, scholarship searches, and financial-literacy information.

Requirements

• Be enrolled at an eligible school.
• Meet the age of majority in your state, typically 18.
• Pass a credit review. Students with limited credit often apply with a cosigner.
• Verify your identity, complete required documents, and stay within the school-certified cost of attendance.

Loan details

Minimum: $1,000.

Maximum: Up to 100% of school-certified cost of attendance, minus other aid, with no fixed dollar maximum listed.

Programs include undergraduate, career training, nursing, flight school, graduate, MBA, law, medical, dental, bar-exam, and residency loans.

About ELFI

Education Loan Finance (ELFI), a division of SouthEast Bank, provides private undergraduate and graduate education loans, parent loans, and student loan refinancing. Borrowers can choose fixed or variable interest and several repayment structures.

Requirements

• The student must be enrolled at least half-time in an approved bachelor’s, master’s, or doctoral program.
• The applicant or eligible cosigner generally must be a U.S. citizen or permanent resident of legal age.
• Published minimums are a 680 credit score, $35,000 annual income, and 36 months of credit history.
• Additional debt-to-income and underwriting conditions apply.

Loan details

Minimum: $1,000.

Maximum: Up to 100% of school-certified cost of attendance, minus other aid and subject to applicable limits.

Repayment choices include immediate, interest-only, $25 fixed, or deferred payments; terms and grace periods vary.

About Citizens

Citizens is a national financial institution offering private student loans for undergraduate, graduate, and professional degree programs, with fixed and variable rates, flexible repayment options, and multi-year approval for eligible borrowers.

Requirements

• Be enrolled at least half-time in a degree-granting program.
• Meet the age of majority in your state.
• Be a U.S. citizen or permanent resident.
• Pass a credit review and stay within the school-certified cost of attendance.

Loan details

Minimum: Not specified.

Maximum: Up to 100% of school-certified cost of attendance, minus other aid.

Approval depends on the borrower’s or cosigner’s financial profile in addition to the lender’s eligibility criteria.

About SELF Loan

The Minnesota SELF Loan is a nonprofit program for eligible students attending participating colleges. It offers fixed- and variable-rate choices with structured repayment terms.

Requirements

• Be a Minnesota resident attending an eligible school, or a non-Minnesota resident attending an eligible school in Minnesota.
• Be enrolled at least half-time in an eligible certificate, associate, or bachelor’s program.
• Maintain satisfactory academic progress and be current on existing student-loan payments.
• Have no student loan defaults on your credit report and obtain a creditworthy cosigner.

Loan details

Minimum: $1,001.

Maximum: Varies by program. Bachelor’s students may borrow up to $40,000 annually, with a $140,000 cumulative limit, subject to school approval.

About MPOWER Financing

MPOWER Financing specializes in fixed-rate international education loans for eligible students at approved U.S. and Canadian universities. It does not require a U.S.-based cosigner or collateral and considers education plans and future earning potential.

Requirements

• Be admitted to or studying at an MPOWER-approved school.
• Have an eligible status, which may include international student, U.S. citizen, DACA recipient, refugee, or asylum seeker.
• Generally be in the final 24 months of an eligible bachelor’s degree, or final 30 months of an MBA, master’s, medical, or dental degree.
• Meet education, identity, and underwriting criteria.

Loan details

Minimum: $2,001.

Maximum: $100,000 total, subject to eligibility and school requirements.

Loans have fixed rates and 10-year repayment terms. A 0.25% autopay discount may be available. Interest-only payments are required during school and typically for six months afterward; the interest-only period is capped at 30 months from disbursement. There is no prepayment penalty.

About Funding U

Funding U offers private undergraduate loans for students who cannot or do not want to use a cosigner. Underwriting emphasizes academic performance, progress toward graduation, career plans, and credit-history concerns rather than a mandatory minimum FICO score.

Requirements

• Be at least 18 and a full-time student pursuing a bachelor’s degree in an eligible in-person or hybrid program.
• Attend a participating nonprofit, Title IV-eligible U.S. school.
• Meet satisfactory academic progress standards and live in an eligible lending state.
• Underwriting considers grades, academic year, major, career trajectory, and negative credit history.

Loan details

Minimum: $3,001, varying by state.

Maximum: $20,000 per academic year, subject to school certification. Funding is limited to one loan per academic year.

Terms are 5 or 10 years. Borrowers make a $20 minimum or interest-only payment while in school, followed by a six-month post-graduation period before full repayment. Prior-year and summer-only funding are generally unavailable. There are no prepayment fees.