Education
Best Student Loans for Undergraduates
Private loans should fill the gap after federal aid, not replace it. Once you have maxed federal loans, these are the private lenders we rank highest for undergraduate borrowing.
Top matches
Student Loans
- ✓1.94% - 17.99% fixed and 3.89% - 17.99% variable APR, including the 0.25% autopay discount (September 2026)
- ✓Repayment terms of 5, 10, 15, or 20 years
- ✓Undergraduate, graduate, and professional loans
Student Loans
- ✓1.95% - 17.49% fixed and 3.75% - 16.95% variable APR on undergraduate loans (September 2026)
- ✓Loans for college, career training, grad school, medical, dental, law, MBA, nursing, residency, and bar study
- ✓No origination fees; borrow up to 100% of the cost of attendance
- ✓Multi-year approval option
- ✓Free credit score tracking
Private Student Loan
- ✓Nine-month grace period
- ✓Skip one payment every 12 months in good standing, after 6 months of on-time payments
- ✓1.99% - 16.24% fixed and 4.74% - 16.60% variable APR, with no origination or late fees (September 2026)
- ✓Up to 12 months of hardship forbearance over the life of the loan
- ✗Does not offer renewable or multi-year approval
Student Loans
- ✓Outcomes-based loan reviews school, program, major, GPA, and graduation date instead of income
- ✓No cosigner needed, though it takes a 3.0+ GPA and junior or senior standing
- ✓1% cash back graduation reward, plus a 0.5% to 1.00% automatic payment discount
- ✓Loans from $2,001 up to $200,000, with 5 to 15 year terms and no prepayment penalty
- ✗Non-cosigned outcomes-based loan caps at $20,000
How we ranked these: We ranked every undergraduate-tagged lender in our database by our overall methodology score, which weighs rates and fees, approachability, and repayment flexibility.
Last updated June 2026
Questions, answered
Should I take federal loans before a private loan?
Almost always yes. Federal loans come with income-driven repayment, deferment options, and potential forgiveness that no private lender matches. Private loans only make sense for the gap that remains after grants, scholarships, and federal loan limits.
Do I need a cosigner for an undergraduate loan?
Most undergraduates do, since lenders want income and credit history that students rarely have. A cosigner usually unlocks better rates. A few lenders offer no-cosigner approval based on academics and major, at somewhat higher rates.
Fixed or variable rate for a student loan?
Fixed, for most borrowers. A student loan is a long commitment, and a variable rate that looks cheaper today can climb well past the fixed offer over a decade of repayment. Variable only makes sense if you plan to pay the loan off fast.
How much should I borrow in total?
Keep total student debt below your expected first-year salary. Borrow for tuition and required costs, not lifestyle. And remember: every dollar borrowed costs roughly $1.30 to $1.70 by the time you finish repaying it.