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Student Loan Calculator
Step toward your future with a private student loan
Get a quick payment estimate for your private student loan and choose the best lender to fit your needs
Student Loan Calculator
Get a quick payment estimate for your
private student loan and choose the best lender
to fit your needs
Student Loan Calculator
Get a quick payment estimate for your private student loan and choose the best lender to fit your needs
Last Updated March 2023
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Please fill out Loan amount Loan amount should be between 1,000 to 200,000
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1
Our Top Choice
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  • 4.74% - 15.32% Variable APR1
  • 4.74% - 15.32% Fixed APR1
  • Quick & easy: apply in less than 3 minutes
  • Borrow up to 100% of cost of attendance3
  • Repay in 5, 8, 10, or 15 years2

"College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community 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.

(2)This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

(3)As certified by your school and less any other financial aid you might receive. Minimum $1,000.

Information advertised valid as of 3/1/2023. 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."

2
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  • 5.49% - 15.83% Variable APR1
  • 4.50% - 14.83% fixed APR1
  • Lowest rates include the auto debit discount1
  • Covers online and on campus learning
  • 4 months of free Chegg Study support2

Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.

Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are 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. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount 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.

Advertised APRs are valid as of 02/27/2023. Loan amounts: Loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school.

3
  • 4.49% - 16.24% Variable APR (with Autopay)*
  • 3.65% - 16.16% Fixed APR (with Autopay)*
  • Compares up to 8 lenders at once
  • 100% free to check prequalified rates
  • No hard credit inquiry when comparing rates
4
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  • 4.99% -13.13% variable APR*
  • 4.49%-13.98% fixed APR*
  • Get 0.25% discount with autopay
  • No extra fees added to your loan

UNDERGRADUATE LOANS: Fixed rates from 4.49% to 13.80% annual percentage rate ("APR") (with autopay), variable rates from 4.99% to 13.07% APR (with autopay). GRADUATE LOANS: Fixed rates from 5.25% to 13.60% APR (with autopay), variable rates from 5.49% to 13.07% APR (with autopay). PARENT LOANS: Fixed rates from 6.50% to 13.98% APR (with autopay), variable rates from 6.32% to 13.13% APR (with autopay). For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Lowest rates are reserved for the most creditworthy borrowers. If approved for a loan, the interest rate offered will depend on your creditworthiness, the repayment option you select, the term and amount of the loan and other factors, and will be within the ranges of rates listed above. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Information current as of 01/30/2023.

5
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  • 4.74% - 15.32% Variable APR1
  • 4.74% - 15.32% Fixed APR1
  • $100 credit for opening Candidly account1
  • Access to Candidly for loan management
  • Cashback rewards to pay down student loan

College Finance Disclosures

(1)To receive the $100 statement credit, borrower must take out a loan via the Apply Now link provided here, sign-up for Candidly education loan management, and link this loan to their Candidly account within 180 days of the first loan disbursement. Once the loan is linked, Candidly will remit payment to the loan servicer, and it will be applied as a payment.

College Ave Student Loans Disclosures

College Ave Student Loans products are made available through either Firstrust Bank, member FDIC, First Citizens Community 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.

* Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. 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 11/15/2022. Variable interest rates may increase after consummation. Approved interest rate will depend on 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.

6
  • 4.89% - 6.99% Fixed APR
  • Repay in 7, 10, or 15 years
  • Instant application decision
  • Covers up to 100% of cost of attendance
  • Fully remote process - apply in minutes
7
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  • 4.99% - 14.40% Variable APR1
  • 4.45% - 14.60% Fixed APR1
  • Flexible repayment options
  • 9-month grace period2
  • Option to skip a payment once per year3

1Student Loan Origination Interest Rate Disclosure: Actual rate and available repayment terms will vary based on your income. Fixed rates range from 4.70% APR to 14.85% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.24% APR to 14.65% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan origination loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.

2Grace Period Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.

3Skip-A-Payment Disclosure Earnest clients may skip one payment every 12 months. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.

THIS IS AN ADVERTISEMENT. YOU ARE NOT REQUIRED TO MAKE ANY PAYMENT OR TAKE ANY OTHER ACTION IN RESPONSE TO THIS OFFER.

8
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  • 6.42% - 15.39% Variable APR
  • 5.44% - 16.24% Fixed APR
  • Repay in 5, 10 or 15 years
  • Up to 1% Cash Back Graduation Reward
  • Earn up to $525 for referring a friend

Ascent's undergraduate and graduate student 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: www.AscentFunding.com/Ts&Cs. Rates are effective as of 3/1/2023 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-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. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest APRs require interest-only payments, the shortest loan term, and a cosigner, and are only available to our most creditworthy applicants and cosigners with the highest average credit scores.

Our Top Choice
1
Editor's Choice
More Info
Less Info
  • 4.74% - 15.32% Variable APR1
  • 4.74% - 15.32% Fixed APR1
  • Quick & easy: apply in less than 3 minutes
  • Borrow up to 100% of cost of attendance3
  • Repay in 5, 8, 10, or 15 years2

"College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community 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.

(2)This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

(3)As certified by your school and less any other financial aid you might receive. Minimum $1,000.

Information advertised valid as of 3/1/2023. 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."

Frequently Asked Questions About Our Calculator
What is our Student Loan Calculator for?
Our calculator allows you to get an accurate estimate of your private student loans.
How does our Student Loan Calculator work?
Our calculator will give you an estimate of your private student loan based on the details you enter based on interest rates, loan amount, and time you’ll need for repayment.
Types of Interest Rates (APR)
There are two types of interest rates: fixed and variable.
Fixed rate: Lock in your rate through the entirety of your borrowing period.
Variable rate: Interest rate will change and adjust throughout your borrowing period.
All of our lenders offer both, make sure to pick the loan type that works best for you.
How much will you have to repay?
The total amount you will have to repay is based on the amount you borrowed plus the amount that was accrued during your time at school.
Why choose BestStudentLoanCompanies.com to help you choose your student loan lender?
We understand that looking for a loan for your studies can be overwhelming, that’s why we work with different lenders that offer various types of private student loan plans that will suit your needs. Find a complete analysis of the best rates and loan plans to cover your study fees, books, and living expenses.

Private Student Loans vs. Federal Student Loans

When it comes to borrowing money for college, grad school, or career training, there are two options: private student loans or federal student loans.

Federal student loans are loans funded by the federal government. These are typically the student loans with the lowest interest rates. They also offer assistance and grace periods if you have trouble paying your student loans. However, federal college loans for students have high origination fees, strict eligibility requirements and usually only cover part of the cost of admission.

Comparing the Best Student Loans

Comparing private student loans is a bit like comparing colleges in that there are so many different options out there. Obviously, finding the best student loans rates should be a priority. However, it can sometimes be worth paying a higher rate in exchange for other benefits. Here’s the full breakdown of things to look for before applying for student loans.

Loan type. Some student loan companies only offer undergraduate loans, while others offer the full range of loans. Possible loan options include: undergrad student loans, graduate student loans (e.g. law school, medical school, MBA), parent loans, career training loans, and K-12 loans.

APR. Most private student lenders offer a choice between fixed student loan interest rates and variable student loans rates. Based on our study of the best student loans for college, variable student loan interest rates range from 1.04% to 12.40% and fixed student loan interest rates run from 3.49% - 12.99%. The average interest rate for a student loan is around 5-6% for undergraduate loans, 6-7% for graduate student loans, and 7-8% for parent loans. The lower loan interest rates are reserved for the borrowers with the best credit scores.

Fees. One of the main advantages of private student loans is that there are usually no additional fees to worry about. That means no origination fees, no application fees, and no prepayment fees. If a lender boasts of low interest loans for students, always double check to make sure there aren’t any additional fees.

Discounts. Most private student loan interest rates come with a 0.25% rate discount for using autopay. Other potential offers from private student loans organizations include cash-back upon graduation, refer-a-friend bonuses, and free learning tools from third-party partners.

Loan amount. The best college loans for students cover the full cost of admission. This includes tuition, room and board, fees, books and supplies, transportation, and a computer for school.

Repayment terms. Depending which lender you choose, you may be given up to 15-20 years to finish paying your student loans. Many private lenders require student loan payments while you are still in school, but some allow you to begin paying your student loans after graduation.

Grace and deferment periods. With some private student loan services, you may have the option of taking a grade period of 6-12 months after graduation before starting to pay off your student loans. Some student loan companies also offer deferment options for borrowers who find themselves struggling to make student loan payments.

Minimum credit score. Qualifying requirements for personal student loans are highly variable. Most private lenders require a credit score of at least 680, although some have been known to accept borrowers with scores as low as 600. As mentioned already, the best interest on student loans is reserved for borrowers with strong credit.

Co-signer option. Many students don’t have the credit score required to qualify for a private student loan on their own. With this in mind, many student loan companies allow for a co-signer (such as a parent, relative or someone else you trust) to be added to student loan applications. Having a co-signer with excellent credit is key to getting the lowest student loan rates.

Our Top 3 Student Loans Services

#1
GET MY RATE
Pros
  • Low variable rates
  • Flexible repayment options
  • Takes only 3 minutes to apply
Cons
  • No co-signer release until half the term has elapsed
  • No phone applications
College Ave is a standout performer on all the most important aspects of student loans, namely: low interest rates, flexible repayment options, and co-signer option. The absence of a transparent minimum credit score and the difficulty of getting a co-signer release add a bit of risk. However, if you or your co-signer are in a strong position in terms of credit score, then College Ave is one of the best student loan options out there.
#2
GET MY RATE
Pros
  • Flexible eligibility requirements
  • 95% approval rate with co-signer
  • 4 months of free Chegg study support
Cons
  • No principal + repayment option during school
  • Graduate student loan rates not advertised
Sallie Mae is one of the oldest and most-respected private student loans companies in America. It offers competitive interest rates, flexible repayment options, and loans to suit all types of degrees and courses. Its flexible eligibility requirements make it a great choice for borrowers not covered by other private student loan providers, such as people studying less than half-time or studying abroad.
#3
GET MY RATE
Pros
  • Personalized pre-qualified rates
  • No filling out duplicate forms
  • 3-way phone support connecting you to lenders
Cons
  • Not a direct lender
  • -Works with some but not all top lenders
With so many student loan providers out there, it’s hard to know where to begin. Credible takes advantage of this situation, encouraging its top lending partners to compete to offer you their best rates. The result: Credible can help you obtain great offers from some of America’s best lenders, in minutes, without any impact to your credit score.

Guide to Student Loan Applications

All the top lenders maintain student loans websites where you can begin your application. Useful tip: Only apply to a handful of lenders with the best student loans rates in order to save yourself the trouble of uploading dozens of student loan applications.

It typically takes around 15 minutes to apply for a student loan. Here’s what you and your co-signer will need to provide:

  • Your addresses
  • Your social security numbers (so the lender can run a credit check)
  • Your employment information
  • Your financial information, including your bank account and mortgage/rent payments
  • Requested loan amount
  • Information about the school of attendance, including: degree, enrollment study, and academic period you need to finance
  • Information about any financial aid, scholarships, or federal loans you expect to receive

After submitting your application, you’ll have a chance to review the interest rate and repayment term options. Then you and your co-signer will have the opportunity to review and e-sign the agreement. Finally, your lender will verify your academic enrollment and loan eligibility with your school. Assuming everything goes smoothly, you’ll be funded for school.

Finding Your Student Loan

As long as you or your co-signer have decent credit, getting student loans isn’t all that difficult. After all, there are literally dozens of companies offering student loans in the USA. However, unless you want to try your luck applying for student loans from literally every lender, then it pays to do a bit of research first. On this website, you’ll find lender reviews and information to help you find student loans with low interest rates and favorable terms. Compare the student loans organizations on key factors like APR, loan type, and repayment term to find which makes most sense for you.

Make sure you exhaust your options of federal student loans before you turn to private loans. Once you chose private loans, compare offers from multiple lenders to find the lowest interest rate.

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College Ave
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Sallie Mae
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Credible
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College Finance
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