Article
Best Student Loans for College & Graduate School in 2026
Find the best private student loans for 2026. Our experts compared rates, repayment options, and benefits from top lenders including Sallie Mae, Earnest, College Ave, and Ascent to help you fund your education.
Choosing the right student loan can save you thousands of dollars over the life of your education. With federal student loan limits often falling short of total college costs, private student loans fill the gap—but not all lenders offer the same rates, flexibility, or borrower protections.
Our team analyzed leading private student loan providers, comparing interest rates, repayment flexibility, borrower benefits, and eligibility requirements. Here are the 4 best student loan options for funding your education in 2026.
Quick Comparison
| Lender | Best For | Variable APR | Rating |
|---|---|---|---|
| 1. Sallie Mae | Best Overall Student Loan | 3.87%-16.50% | ★4.8/5 |
| 2. Earnest | Best for Flexible Repayment | 4.99%-16.85% | ★4.7/5 |
| 3. College Ave | Best for Quick Approval | 4.39%-15.99% | ★4.6/5 |
| 4. Ascent | Best for Students Without Cosigners | 7.69%-13.68% | ★4.5/5 |
Our Top Picks in Detail
Sallie Mae
Sallie Mae stands out as the most flexible student loan lender, offering loans for part-time, online, and study abroad students. With three repayment options and the unique Graduated Repayment Period extending interest-only payments to 12 months after graduation, it provides real financial flexibility during and after school.
Pros
- ✓Multiple repayment options while in school
- ✓0.25% autopay discount
- ✓$500 GPA reward for 3.0+ students
- ✓Covers part-time and online students
- ✓Graduated Repayment Period available
- ✓No prepayment penalties
Cons
- ✗Rates depend heavily on creditworthiness
- ✗Requires cosigner for most students
- ✗Variable rates can increase over time
Earnest
Earnest revolutionizes student loan flexibility with precision pricing that lets you choose your exact monthly payment and up to 180 different repayment options. The ability to skip one payment annually and extended nine-month grace period make it ideal for borrowers who value payment flexibility.
Pros
- ✓Precision pricing with exact monthly payment control
- ✓Skip one payment per year without penalty
- ✓Nine-month post-graduation deferment
- ✓Rate match guarantee with gift card
- ✓$200 referral bonus available
- ✓In-house servicing for better support
Cons
- ✗Higher starting rates than some competitors
- ✗Limited availability for international students
- ✗Best rates reserved for excellent credit
College Ave
College Ave combines speed and simplicity with a three-minute application process and competitive rates. With loan options for undergraduates, graduates, career schools, and parents, plus a 90% approval rate with a cosigner, it's a reliable choice for straightforward student financing.
Pros
- ✓3-minute application with quick decision
- ✓Competitive fixed and variable rates
- ✓Multiple loan types for all education levels
- ✓90% approval rate with cosigner
- ✓Extended grace periods available
- ✓4.5 rating on Trustpilot with 2,000+ reviews
Cons
- ✗Fewer repayment options than competitors
- ✗Limited hardship programs
- ✗Cosigner typically required for students
Ascent
Ascent breaks the mold by offering both credit-based and outcomes-based non-cosigned loans, making it possible for independent students to borrow without parental involvement. The 1% graduation cash back reward and extended nine-month grace period add meaningful value for borrowers who complete their degrees.
Pros
- ✓Non-cosigned options for creditworthy students
- ✓1% cash back graduation reward (up to $500)
- ✓Nine-month grace period vs standard six
- ✓Available for non-U.S. citizens with DACA
- ✓No application or late fees
- ✓Outcomes-based loan option
Cons
- ✗Higher rates for non-cosigned loans
- ✗More limited school eligibility
- ✗Cash back requires proof of graduation
How We Evaluate Student Loans
Our expert team uses a comprehensive methodology to evaluate and compare private student loan lenders. Here’s what we consider:
Interest Rates and APR
We analyze both fixed and variable rate options:
- Fixed rates: Locked-in rates that never change
- Variable rates: Rates that fluctuate with market conditions
- Autopay discounts: Typical 0.25-1.00% rate reductions
- Rate ranges: Understanding the best to worst case scenarios
Repayment Flexibility
We evaluate the options available while you’re in school:
- Immediate repayment: Full principal and interest payments (lowest total cost)
- Interest-only: Pay just the interest during school
- Fixed payments: Small monthly payments like $25
- Deferred: No payments until after graduation
Loan Amounts and Terms
We look at borrowing flexibility:
- Minimum and maximum loan amounts
- Aggregate lifetime limits
- Repayment term options (5-30 years)
- Whether loans cover 100% of certified costs
Borrower Benefits
We evaluate value-added features:
- Graduation rewards and cash-back bonuses
- Rate reduction programs for good grades
- Cosigner release options
- Hardship and forbearance programs
- Customer service quality and availability
Frequently Asked Questions
Should I take federal loans before private loans?
Yes, always exhaust federal student loans first. Federal loans offer fixed rates, income-driven repayment plans, deferment options, and potential loan forgiveness that private loans cannot match. Use private loans only after maxing out federal options.
What credit score do I need for a student loan?
Most private lenders require a credit score of 670+ for the best rates. Students with limited credit history typically need a creditworthy cosigner. Ascent offers outcomes-based loans that consider your school, major, and expected graduation date rather than just credit.
Can I release my cosigner from the loan?
Many lenders offer cosigner release after you make 12-48 consecutive on-time payments and meet credit requirements. Sallie Mae, Earnest, College Ave, and Ascent all offer this option, though specific requirements vary by lender.
What’s the difference between fixed and variable rates?
Fixed rates stay the same for the life of your loan, providing payment predictability. Variable rates start lower but can increase (or decrease) with market conditions. Choose fixed for stability or variable if you plan to pay off loans quickly.
How much should I borrow for college?
A good rule of thumb: don’t borrow more than your expected first-year salary. If your degree will lead to a $50,000 starting salary, keep total student debt under $50,000 to maintain manageable payments.
When do I start repaying my student loans?
Federal loans have a six-month grace period after graduation. Private loans vary—some offer six months, while Earnest and Ascent offer nine months. You can often start making payments during school to reduce total interest costs.
Can I refinance my student loans later?
Yes, refinancing can lower your interest rate if your credit improves or market rates drop. However, refinancing federal loans into private loans means losing federal protections like income-driven repayment and forgiveness programs.