Student loan comparison sites enable you to view and compare multiple student loan opportunities in order to find the package that’s best for you. But before you start comparing, there are a few things you need to keep in mind.
The following student loan comparison sites and directories of education lenders may accept paid placement for their listings. The loans may initially be ranked according to criteria that maximize profit to the directory and not necessarily criteria that minimize cost to the borrower. Some of the least expensive loans may be excluded from such directories because the lenders may be unwilling to pay for placement. Also, some of the directories rank loans by the best advertised rates or average rates, as opposed to the actual rates.
Featured Student Loan Comparison Sites
Credible
Credible offers borrowers a “kayak-style” experience while shopping for student loans. Similar to the “Common App,” users (and co-signers) complete a single, brief form and receive personalized offers from multiple lenders. The process is free and does not impact a user’s credit score to compare offers.
Credible’s marketplace includes
- Ascent
- Citizens Bank
- CollegeAve
- Discover Student Loans
- MEFA
- Sallie Mae
- SunTrust
Loan
Choose between fixed and variable rate loans, as well as deferred and interest-only repayment options for your school loans.
Graduate and undergraduate loans for almost every degree type.
Repayment options range from immediate full repayment (principal and interest payments immediately after the loan is fully disbursed), interest only (interest-only payments while you are in school, and start making principal and interest payments after you leave school), full deferral while in school, flat payment while in-school, graduated repayment (payments increase over time).
Limits
COA-Aid (annual limit)
Borrow up to $170,000 through Credible’s marketplace.
Annual max (100% of school certified costs minus other financial aid received).
Lifetime aggregate loan amount 200K.
Rates
Fixed rates as low as 3.53% APR (with autopay)* and variable rates as low as 1.24% APR (with autopay)*. Access special discounts from some lenders.
*Rates and terms at Credible.com.
Fees and Terms
No fees.
5, 7, 8, 10, 12, 15 and 20 year terms available
Student Loan Comparison Sites
ASCENT STUDENT LOAN OPTIONS WITH OR WITHOUT A COSIGNER
Ascent offers benefits that put students first:
- Check your rates within minutes without impacting your credit score.
- Ascent $1,000 Scholarship Giveaway
- 1% CASH BACK Graduation Reward*
- NON-COSIGNED option for eligible students*
- COSIGNER RELEASE option*
- DISCOUNT for enrolling in auto payments*
- AFFORDABLE fixed or variable rates
- 100% US-BASED Customer Service
- FREE financial Tools
Check your rate without impacting
your credit score.
*Rates displayed above are effective as of 08/01/2020 and reflect an Automatic Payment Discount. Borrowers can get either a 0.25% (for Credit-Based Loans) or 2.00% (for Undergraduate Future Income-Based Loans for Juniors and Seniors) interest rate reduction if payments are made by automatic payment. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions.
1% Cash Back Graduation Reward subject to terms and conditions, click here for details.
Loan
Ascent’s private student loan options give students more opportunities to get money to pay for school with or without a cosigner. Ascent offers loan products to help undergraduate and graduate students pay for higher education.
• Undergraduate students have the option to apply for a Cosigned Credit-Based Loan, Non-Cosigned Credit-Based Loan or Non-Cosigned Future Income-Based Loan (for eligible juniors and seniors*).
• Graduate students have the option to apply for a Cosigned Credit-Based Loan or Non-Cosigned Credit-Based Loan. Ascent created customized repayment terms for:
– Business School (MBA)
– Dental School (DMD, DDS)
– Law School (JD, LLM)
– Medical School (MD, DO, DVM, VMD, DPM)
– General Graduate School (Health Professionals, Nursing, Pharmacy, MA, MS, PhD), etc.)
Limits
COVER UP TO 100% college tuition and living expenses with a minimum loan amount of $1,000 and up to $200,000 (or total cost of attendance less aid received).
Rates
AFFORDABLE RATES
Undergraduate Rates:
• Fixed: 3.53% – 14.50%*
• Variable: 2.72% – 13.00%*
Graduate Rates:
• Fixed APR with ACH: 4.92% – 13.42%*
• Variable APR with ACH: 3.93% – 12.43%*
Check your rate without impacting your credit score.
Fees and Terms
AVOID FEES
∙ No application, origination or disbursement fees.
∙ NO PENALTY FEE if you pay off your loan early.
FLEXIBLE PLANS (depending on loan type)
∙ In-School Interest-Only Repayment
∙ $25 Minimum Payment
∙ Deferred Repayment – Start payments up to 9 months after graduation
REPAYMENT TERMS (depending on loan type)
∙ Undergraduate: 5-year, 10-year or 15-year repayment terms*
∙ Graduate: 10-year, 15-year or 20-year repayment terms*
Citizens Bank
Citizens Bank offers loan options for undergrad, grad students and parents with competitive rates, flexible terms and interest rate discounts.
Multi-year approval option available for qualified applicants. Multi-Year approval provides an easy way to secure funding for additional years in school without completing a full application and impacting your credit score each year.
https://studentloans.citizensbank.com/student
Loan
Choose between our student or parent loan options with competitive interest rates and flexible payment terms.
Limits
Loans from $1,000 to $295,000 depending on education level
Rates
Variable rates as low as 1.24% APR* and fixed rates as low as 4.25% APR* including all available discounts
Fees and Terms
No application fees or origination fees. 5, 10, or 15 year options available.
Citizens One
Citizens One, the national lending division of Citizens Bank, offers loan options for undergrad, grad students and parents with competitive rates, flexible terms and interest rate discounts.
Multi-year approval option available for qualified applicants. Multi-Year approval provides an easy way to secure funding for additional years in school without completing a full application and impacting your credit score each year.
https://studentloans.citizensone.com/student
Loan
Choose between our student or parent loan options with competitive interest rates and flexible payment terms.
Limits
Loans from $1,000 to $295,000 depending on education level
Rates
Variable rates as low as 1.24% APR* and fixed rates as low as 4.25% APR* including all available discounts
Fees and Terms
No application fees or origination fees. 5, 10, or 15 year options available.
Earnest
Earnest believes it’s time to change the way people borrow and pay off college loans. With flexible repayment options – save interest by making small in-school payments, or opt for an extended 9-month grace period* to start repayment after graduation. You can fill out the application on a mobile phone, and upload all of your documents. And, if you need a cosigner, Earnest will help you invite one. Most borrowers finish the application in just 15 minutes and receive a decision in less than 72 hours.
Loan
Flexible low-rate Earnest private student loans are a great way to cover up to 100% of your college costs. Whether you’re a student or a cosigner, you can start the application. Once you get your rate, you can pick from 3 in-school repayment options or defer payments for 9 months after graduation – 3 months longer than most lenders! Check your eligibility in just 2 minutes with no impact on your credit score.
Limits
Cover up to 100% of school’s certified cost of attendance, including tuition, room and board, and books.
Rates
As low as 1.24% Variable APR or 4.00% Fixed APR (including 0.25% AutoPay discount*)
*See our website for more information – www.earnest.com/student-loans
Fees and Terms
No fees of any kind: $0 Origination Fee $0 Late Fee $0 Prepayment Fee
*Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Best Student Loan Comparison Sites
The most useful student loan comparison sites need to satisfy the following minimal standards:
- Present consumers with actual interest rates and fees, not just the best advertised rates or average interest rates. This will ensure that consumers are making comparisons based on relevant information.
- Include a critical mass of lenders sufficient to ensure that the borrower has a reasonable chance of obtaining a rate that is close to the best rate the borrower could find on his or her own.
- Minimize the impact on the prospective borrower’s credit score. Each credit inquiry for student loans results in up to a 5-point hit to the borrower’s credit score. More than three or four such inquiries are likely to shift the borrower from one credit tier to the next, increasing their costs.
- The presentation of information must be based solely on the prospective borrower’s best interests. In particular, the initial sorting of results must be based on the total cost of the loan, including interest rates and fees, not paid placement or other criteria.
- The lender listings must provide sufficient information about the loans to permit the prospective borrower to make an informed decision.
- The sites must provide clear disclosures regarding any potential or actual biases. In particular, the comparison tools should disclose whether the lenders provide any payment for inclusion in the loan comparison tool and whether the payments influence the ranking of the loan product comparisons.
- The comparison site should provide sufficient contact information for the lender, such as telephone numbers and web links, to permit the prospective borrower to apply for the loan.
- Prospective borrowers should not be charged any fees for using the comparison site.
- Loan comparison sites should recommend, in a clear and conspicuous fashion, that prospective borrowers should borrow federal first before relying on any private student loans.
To date, none of the loan comparison sites satisfy all of these standards, although all satisfy some of them.
Student Loan Comparison Sites (Live)
The following student loan comparison sites are live, list more than one lender, and are listed in alphabetical order.
