The best in
Our experts ranked and reviewed everything from affordability to repayment options to find the best student loan lenders of 2024. While some lenders may be partners, this didn’t influence our selection process.
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Best for refinancing
Laurel Road
Why they won
Laurel Road is our top pick for student loan refinancing because of its competitive interest rates, range of repayment options, wide availability, multiple rate discounts and few fees. Parents can also refinance their PLUS loans and private loans with the lender.
Top features
- Refer-a-friend bonus and multiple rate discounts.
- No origination, application or prepayment fees.
- Refinance up to your full loan balance for eligible degree types.
- View your rate without affecting your credit.
Best for borrowers with good credit
SoFi
Why they won
If you have strong credit, or a co-signer who does, SoFi has it all — low interest rates, no mandatory fees and you can borrow as much as you need to pay for school. SoFi’s loans are also open to undergraduate and graduate students and their parents.
Top features
- Loans up to the school’s certified cost of attendance.
- No prepayment, mandatory origination or late fees.
- Members get benefits like rate discounts and referral bonuses.
- View your rate with a soft credit check.
As of March 2024, SoFi no longer offers unemployment protection.
Best for parents
Earnest
Why they won
Earnest has some of the lowest rates available for parent loans, and multiple discounts to minimize borrowing costs. Earnest’s loans also feature flexible payment options and less strict eligibility requirements when compared to other lenders.
Top features
- Lender will match any competing offer and add a gift card.
- Deferred, fixed, interest-only and full monthly payment options.
- Low credit score and income requirements.
- Grace period, autopay discount and no fees.
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Best for undergraduate students
Federal student loans
Why they won
Federal student loans don’t require a credit check, have a low fixed rate and, in some cases, interest won’t accrue while in school. These loans also feature income-driven repayment and forgiveness options, which aren’t available through private lenders.
Top features
- Available to part-time and full-time students in good academic standing.
- Low-fixed rate, regardless of your credit score and income.
- Income-driven repayment and loan forgiveness options.
- No need for a co-signer.
Best for undergraduate students
SoFi
Why they won
SoFi offers some of the lowest student loan rates in the market, provides multiple rate discount options and allows you to borrow up to your full cost of attendance. The lender also allows co-signers, making it easier for students to qualify.
Top features
- Get an additional rate discount when you cosign for two or more borrowers.
- No mandatory fees — not even late fees.
- Borrow up to your school’s certified cost of attendance.
- Grace period, autopay discount and unemployment protection.
Best for graduate students
College Ave
Why they won
College Ave offers graduate loans for multiple degree programs, covering 100 percent of the school-certified cost of attendance. Its graduate loans also feature low interest rates and a generous grace period.
Top features
- Loans for graduate programs like medical school, law school and dental school.
- Generous grace period for borrowers in medical school.
- Deferred, interest-only, flat and full monthly payment options.
- Autopay discount and no prepayment fees or origination fees.
Best for boot camps/vocational programs
Ascent
Why they won
Ascent is one of the few lenders that offers loans for boot camps and career programs. Students can borrow up to the full cost of attendance and get access to multiple discounts that can help reduce borrowing costs.
Top features
- Cash back reward upon graduation.
- Grace period.
- Check your rate with a soft credit pull.
- Autopay discount and no prepayment penalties.
Best for MBA students
Earnest
Why they won
MBA programs are notorious for being expensive. Earnest covers 100 percent of the cost of attendance, plus offers competitive rates, extended grace periods, four ways to pay and many other perks.
Top features
- Skip a payment once a year without any penalties.
- No prepayment penalty, origination or late payment fees.
- Borrow up to the full school-certified cost of attendance.
- Grace period, autopay discount and rate-match guarantee.
Explore the best of the best
Check out the 2024 Bankrate Awards winners across our top categories.
