Unless you've got a fully funded college fund, you'll probably need a student loan — and picking the right lender matters almost as much as picking the school. My team and I did the digging, so here's an honest, plain-English breakdown of the two private lenders worth your time: College Ave and Sallie Mae.
Smart move first: file your FAFSA and apply for scholarships and federal aid before any private loan. Federal loans come with protections private loans don't — like income-driven repayment and forgiveness options. Once you've maxed those out, a private loan from a lender like the ones below can cover the gap.
Three simple steps — no jargon, no pressure.
File your FAFSA and take any grants, scholarships, and federal loans — they come with protections private loans don't.
Still have a gap to cover? Line up the two lenders worth your time below and see what each is genuinely good at.
Both let you see your real rate with a soft check that won't affect your credit score, so you can compare offers before you formally apply.
Both are well-established lenders for undergrads, grad students, and parents. Here's what each one is genuinely good at.
College Ave is built around one thing — flexibility. Instead of locking you into a single plan, it gives you four different ways to pay the loan back, including making small payments while you're still in school to cut down what you owe by graduation. You choose your own term, and the loans are actually tailored to what you're studying — undergrad, grad, med, law, and more. Best of all, you can see your real rate in about three minutes with no hit to your credit. For most students, that combination is exactly why it's our #1.
Sallie Mae is the name almost everyone knows — it's been lending to students since the 1970s, and that track record counts for something. Its lowest variable rate currently starts just below College Ave's, and it covers a wider range of students, including part-time and international borrowers, backed by strong support and scholarship tools. The trade-off is flexibility: you get three ways to repay instead of four, and the loans aren't built around your specific field of study. If a long-trusted name and the lowest variable rate matter most to you, it's a strong choice.
Lowest advertised APRs shown are for undergraduate loans as of August 2026, include autopay discounts, and require strong credit — your actual rate depends on your (or your cosigner's) credit and other factors, and rates change often. Always confirm current rates, terms, and eligibility on each lender's website before applying.
Neither is "better" — they're good at different things.
You want the most repayment flexibility — four ways to pay plus you choose your own term — a loan tailored to your field of study, and a fast application. Our overall #1 pick for most students.
You want a long-trusted name and the lowest variable rate — Sallie Mae's starting variable APR currently runs a touch below College Ave's — backed by strong support and scholarship tools.
Real research on the things that actually matter to students — not opinions.
Rates and fees, whether you can check your rate without a hard credit pull, repayment flexibility, cosigner options, grace periods, and loan types — the things that actually change what you pay and how easily you qualify.
Our research team verifies every rate and detail directly against each lender's own current terms, and we refresh it as things change — so what you read here is accurate and up to date, not guesswork. See our full review process.
Almost always, yes. Federal loans (via the FAFSA) come with protections private loans don't — income-driven repayment, forgiveness options, and flexible hardship programs. Use federal aid and scholarships first, then a private loan to cover any remaining gap.
Yes. Both College Ave and Sallie Mae offer options for international students — usually with a creditworthy U.S. cosigner, since most don't have a U.S. credit history. Federal loans, by contrast, aren't available to international students. See our international students guide.
Often, yes. College Ave typically requires a creditworthy cosigner for undergraduate and international students. Sallie Mae doesn't strictly require one, but most students without established credit will need one to qualify — and either way, a cosigner with good credit can get you a lower rate.
Both College Ave and Sallie Mae let you check your rate with a soft credit check that has no impact on your score — only the final application triggers a hard check. So you can see your real offers from both before you commit.
A fixed rate stays the same for the life of the loan, so payments are predictable. A variable rate can start lower but rise or fall with the market. Both lenders offer both; fixed is the safer choice if you want certainty.
With both lenders, loans start at $1,000 and go up to your school's total certified cost of attendance — tuition plus expenses like housing, books, and fees. You can't borrow more than your school certifies.
You usually get a grace period after leaving school before full payments begin (around 6 months, longer for some graduate programs). Paying even a little while you're in school — interest-only or a flat monthly amount — can save you a lot over the life of the loan.
There's no single cutoff — lenders look at your (or your cosigner's) full credit profile and income. Stronger credit means a lower rate, and a creditworthy cosigner can help you qualify or improve your rate. Both lenders let you check your rate with a soft pull first, so you can see where you stand without any impact on your score.
It's completely free to use. We earn a commission from lenders when you apply through our links, at no extra cost to you — which can influence which lenders we feature, so we disclose it openly. We're not a lender and we don't collect your personal or financial information.
No — these are our two top picks for most students right now, chosen for rates, flexibility, and reputation. Other good private lenders exist, and the best choice depends on your situation. Always compare current offers before you commit.
Plain-English guides and reviews from our research team on everything related to student loans — from federal vs. private to how to apply.
The full head-to-head on rates, prequalification, and repayment.
Read → GuideWhich to use first, and exactly why it matters.
Coming soon → How-toFrom FAFSA to funds in your school's hands.
Coming soon → GuideYour options, cosigner rules, and what lenders want.
Coming soon →College Ave lets you check your real rate with a soft credit check — no hit to your score, and no obligation. It only takes a few minutes to see what you qualify for.