Best private student loans for fall 2025

College costs continue to climb, and with them, the financial burden of earning a degree. While scholarships, grants and federal student loans help ease the load, they often aren’t enough to cover the full expense. The numbers back it up: According to the latest figures from the Education Data Initiative, the average annual cost to attend a four-year college has soared past $38,000 — more than double what it was at the start of the 21st century. That kind of price tag is far beyond what most families can comfortably afford, leaving many students to seek out private student loans to fill the financial gap.

Fortunately, today’s private student loan market offers more options than ever. Lenders have stepped up their game with competitive rates, borrower-friendly features, increasingly flexible terms and loan products tailored toward specific types of students. Whether you’re an undergrad with limited credit, a grad student working toward a specialized degree, or an international student studying in the U.S., there’s likely a private loan that fits your situation. Just keep in mind that not all private student loans are the same — and the nuances of each loan can make a big difference.

Interest rates, cosigner rules, repayment plans and borrower protections can vary widely from one lender to the next. To help you choose the right lender, we’ve highlighted some of the best private student loan lenders available today, with each one excelling in a key category.

Best private student loans for fall 2025

Here are some of the top private student loan providers, categorized by their standout features, to help you identify the best fit for your needs:

Best for flexible repayment options: College Ave

College Ave is a standout among private student lenders for its customizable approach to repayment. The company allows borrowers to choose from a wide variety of loan terms ranging from five to 15 years and offers four repayment plans: full principal and interest payments, interest-only payments, flat payments or full deferment while in school. This flexibility is especially helpful for borrowers who may be juggling part-time work, internships or other financial responsibilities during their college years.

One of the biggest advantages of College Ave is that the lender also offers a shorter-than-average application process and quick decisions on approval, making it easier to secure funds when you need them. College Ave loans come with fixed or variable interest rates and borrowers can apply with a cosigner to potentially qualify for better rates.

Compare your loan options with College Ave now.

Best for specialized loans: Sallie Mae

Sallie Mae is one of the most well-known private student loan providers, and for good reason. The company offers a broad array of loan products that go beyond the standard undergraduate and graduate offerings. In particular, it caters to students pursuing specific programs like law school, medical school, dental school and even non-degree or certificate programs. This makes Sallie Mae a strong choice for borrowers with unique or niche educational paths that may not be covered by other lenders.

In addition to its wide range of loan options, Sallie Mae offers numerous borrower perks, like free access to credit score monitoring through their partnership with Experian and a multi-year approval process, which allows returning students to secure funding for future academic years with less paperwork and fewer credit checks. With flexible repayment options and the ability to choose from fixed or variable interest rates, Sallie Mae tends to be a good match for students looking for tailored solutions.

Compare your loan options with Sallie Mae now.

Best for no-cosigner loans: Ascent

For students who don’t have access to a qualified cosigner, Ascent offers one of the few private student loan options that doesn’t always require one. This is especially important for independent students or those whose parents are unable or unwilling to co-sign. Ascent’s non-cosigned credit-based loans consider factors like the borrower’s GPA, expected graduation date, school and future earning potential rather than relying solely on credit history or income for approval.

Ascent also provides a variety of borrower incentives that set it apart from other lenders. For example, students can earn cash back when they graduate and make use of a number of interest rate reduction opportunities. This lender also offers a unique scholarship program and free financial wellness resources. In turn, Ascent may be particularly appealing to upperclassmen and graduate students who have already established some financial independence or a strong academic record.

Compare your loan options with Ascent now.

Best for member benefits: SoFi

SoFi is more than just a lender. It’s a holistic financial platform that supports borrowers beyond their student loans. When you take out a private student loan through SoFi, you gain access to a suite of member benefits that includes career coaching, resume help, financial planning and even networking events. These services can be especially valuable for recent graduates who are entering the workforce and looking for guidance on building their careers and managing their finances.

SoFi’s private student loans are also known for having no fees, meaning no origination fees, late fees or prepayment penalties. This can save borrowers hundreds or even thousands of dollars over the life of the loan. Borrowers can choose from fixed or variable rates, and the company offers multiple repayment options, including deferment while in school or making interest-only payments.

Compare your loan options with SoFi now.

Best for international students: MPOWER Financing

International students often face steep barriers when it comes to accessing private student loans in the U.S., chiefly because most lenders require a U.S.-based cosigner and established credit history. MPOWER Financing eliminates those obstacles. The company specifically caters to international students by offering loans that don’t require a cosigner or credit score. Instead, MPOWER evaluates applications based on the borrower’s school, academic progress and career potential.

MPOWER also offers fixed interest rates on student loans, which can provide added predictability in long-term budgeting. Borrowers can further benefit from interest rate discounts by enrolling in autopay. Loans are available to students in more than 400 schools across the U.S. and Canada, and the funding can be used to cover tuition, housing and other living expenses. 

The bottom line

Private student loans can be a valuable resource when federal aid doesn’t suffice, but they come with varying terms and conditions — and certain lenders could be a better fit than others depending on your unique needs. That’s why it’s essential to assess your financial situation, credit history and educational goals when choosing a lender. Consider factors like the interest rates you’re being offered, along with repayment flexibility and borrower benefits. 

And, be sure to always exhaust your federal loan options first, as they typically offer more favorable terms and protections. By carefully evaluating your options, you can select a private student loan that supports your educational journey without compromising your financial future.