Private Student Loans

Our Preferred Lenders

PayForED helps you to accurately assess the overall costs of college, and identify the various federal student loan options. Even after taking federal loans, you may still need some help covering the overall costs of college. That’s where private student loans can help.
Private loans are offered by individual lending institutions, and have their own interest rates, terms, and eligibility requirements. After using the PayForED software, if you determine you need to borrow money for school, a private student loan can help close the gap and get you the funds you need to earn your degree.

Here are some of our recommended loan lenders:

5.59% – 16.85%
Variable Rates (APR)*

4.29% – 16.69%
Fixed Rates (APR)*

*Rates include .25% Auto-pay discount

5.37% – 15.70%
Variable Rates (APR)*

4.25% – 15.49%
Fixed Rates (APR)*

*Lowest rates shown include auto-debit discount

Sallie Mae Disclosures

* Lowest rates include auto-debit discounts.  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applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month.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 APR's are valid as of 6/21/2024.

PayForED is not the creditor for these loans and is compensated by Sallie Mae for the referral of Sallie Mae loan customers. Sallie Mae, the Sallie Mae logo and other Sallie Mae names and logos are service marks or registered services of Sallie Mae.

5.99% – 15.85%
Variable with ACH*

4.04% – 15.41%
Fixed with ACH*

Ascent's Disclosures

Ascent's undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each 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: Rates are effective as of 7/1/2023 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: 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.

6.00% – 14.22%
Variable Rate

4.50% – 14.22%
Fixed Rate

Disclaimer: All rates, terms and other student loan related information listed on the PayForED website and blog is provided without warranty or guarantee and is not intended to legally bind PayForED or the lenders listed. The rates and terms listed for each lender are estimates and will change depending on your credit profile and other information you provide to lenders (for instance, you will only be entitled to a lower rate if you have a good credit rating). PayForED is not a lender and is not involved in the lender loan approval process. Should you require a loan offer, please visit the lender’s website and review their terms and conditions for more details.

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