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Best student loans without a co-signer in December 2024

Updated Nov 13, 2024

What to know first: Borrowing a student loan without a co-signer can be tricky, as many lenders require a good-to-excellent credit score. But you still have options, even if you’re establishing a credit history for the first time. Federal student loans don’t require a co-signer, and a few lenders offer outcome-based approval.

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STUDENT LOAN

College Ave: 2024 Bankrate award for best for graduate students

4.4

Fixed APR from
3.47- 17.99%
Loan term
5-15 yrs
Loan amount
$1,000-100% cost of attendance
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STUDENT LOAN

Sallie Mae: Best for part-time students

4.6

Fixed APR from
3.49- 15.49%
Loan term
10-15 yrs
Loan amount
$1,000-100% cost of attendance
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STUDENT LOAN

SoFi: Best for member benefits

4.7

Fixed APR from
3.54- 15.99%
Loan term
5-15 yrs
Loan amount
$1,000-100% cost of attendance
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STUDENT LOAN

Education Loan Finance: Best for customer service

4.2

Fixed APR from
3.69- 14.22%
Loan term
5-15 yrs
Loan amount
$1,000-100% cost of attendance
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STUDENT LOAN

Earnest: Best for repayment flexibility

4.5

Fixed APR from
3.94- 16.74%
Loan term
5-15 yrs
Loan amount
$1,000-100% cost of attendance
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STUDENT LOAN

Citizens Bank: Best for multiyear approval

4.0

Fixed APR from
3.99- 15.61%
Loan term
5-15 yrs
Loan amount
$1,000-$225,000
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STUDENT LOAN

Custom Choice: Best for short co-signer release period

4.1

Fixed APR from
4.24- 14.02%
Loan term
7-15 yrs
Loan amount
$1,000-$180,000
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STUDENT LOAN

INvested: Best for Indiana-based students

Fixed APR from
4.80- 9.19%
Loan term
5-15 yrs
Loan amount
$1,000-100% cost of attendance
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STUDENT LOAN

MEFA: Best for low maximum APR

Fixed APR from
5.75- 8.95%
Loan term
10-15 yrs
Loan amount
$1,500-100% cost of attendance
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STUDENT LOAN

Ascent: Best for outcomes-based approval

4.5

Fixed APR from
8.77- 15.28%
Loan term
5-15 yrs
Loan amount
$2,001-$400,000
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Compare no co-signer student loan rates from Bankrate's top picks 

Use this table to easily compare the most important factors of each loan. Pay special attention to the upper limit of the lenders’ annual percentage rates (APRs). If you have no co-signer and a weak credit history, your APR may be on the upper end.

LENDER BEST FOR VARIABLE APR WITHOUT CO-SIGNER FIXED APR WITHOUT CO-SIGNER* LOAN TERM LOAN AMOUNT
College Ave Graduate students 4.99%-17.99% 3.47%-17.99% 5 - 15 years years $1,000 to 100% total cost of attendance
Sallie Mae Part-time students 5.04%-15.21% (with autopay) 3.49%-15.49% (with autopay) 10 - 15 years $1,000 to 100% cost of attendance
ELFI Borrowers with a solid financial history 5.00%-14.22% (with autopay) 3.69%-14.22% (with autopay) 5 - 15 years From $1,000
Citizens Bank Multiyear approval 5.34%-15.96% (with autopay) 3.99%-15.61% (with autopay) 5 - 15 years $1,000 to $225,000
SoFi Returning borrowers 5.54%-15.99% (with autopay) 3.54%-15.99% (with autopay) 5 - 15 years $1,000 to 100% total cost of attendance
Custom Choice Rewards and benefits 4.97%-14.52% (with autopay) 4.24%-14.02% (with autopay) 7 - 15 years $1,000 to $180,000
INvestED Indiana-based students 8.00%-12.46% (with autopay) 5.04%-9.19% (with autopay) 5 - 15 years $1,001 to 100% total cost of attendance
Earnest Borrowers with minimal borrowing needs 5.62%-16.85% (with autopay) 5.39%-16.49% (with autopay)* 5 - 15 years $1,000 to 100% total cost of attendance
MEFA Low maximum APR N/A 5.75%-8.95% 10 - 15 years $1,500 to 100% total cost of attendance
Federal Direct Subsidized and Unsubsidized Loans Undergraduate students N/A 6.53%-8.08% 10 - 25 years $5,500 to $12,500 per year (up to $57,500 aggregate)
Ascent Outcomes-based approval 8.57%-15.04% (with autopay) 8.77%-15.28% (with autopay) 5 - 15 years $2,001 to $400,000
Funding U Good grades N/A 8.49%-13.99% (with autopay) 5 - 10 years $3,001 to $20,000

The rates shown in this table are for loans without a co-signer. The rates listed below show the overall rate range for the lender. 

A closer look at the best student loans without a co-signer 

Dive into each lender’s details, including what helps it stand out and what type of borrowers it suits best.

College Ave: 2024 Bankrate award for best for graduate students

College Ave
Rating: 4.4 stars out of 5
4.4

Overview: College Ave was founded in 2014 and offers undergraduate and graduate private student loans. College Ave also offers career loans, making its products available to a wide range of students in every phase of their educational journey.

Fixed APR
3.47%–17.99%
Loan amount
$1,000-100% cost of attendance
Loan term
5-15 yrs

Sallie Mae: Best for part-time students

Sallie Mae
Rating: 4.6 stars out of 5
4.6

Overview: Sallie Mae is one of the most well-known student loan lenders in the U.S market due to its size, flexible repayment terms and free online tools. Plus, the lender supports a variety of career programs and students, including those attending half-time or less, students enrolled in online or summer classes, students studying abroad and those pursuing a professional certification course.

Fixed APR
3.49%–15.49%
Loan amount
$1,000-100% cost of attendance
Loan term
10-15 yrs

Education Loan Finance: Best for borrowers with established finances

Education Loan Finance
Rating: 4.2 stars out of 5
4.2

Overview: Education Loan Finance's student loans come with low interest rates and a wide range of loan amounts. ELFI has stricter eligibility requirements than other lenders, with a minimum credit score of 680 and a minimum income of $35,000. However, it doesn't require undergraduates to add a co-signer if they meet these requirements on their own.

Fixed APR
3.69%–14.22%
Loan amount
$1,000-100% cost of attendance
Loan term
5-15 yrs

Citizens Bank: Best for multiyear approval

Citizens
Rating: 4 stars out of 5
4

Overview: Citizens Bank is the oldest lender on this list and has been serving student loan borrowers for about 40 years. Although its loans are available to borrowers across the nation, those who live in one of the 16 states with a physical branch can receive in-person assistance.

Fixed APR
3.99%–15.61%
Loan amount
$1,000-$225,000
Loan term
5-15 yrs

SoFi: Best for returning borrowers

SoFi
Rating: 4.7 stars out of 5
4.7

Overview: SoFi tied for the 2024 Bankrate Award for best for undergraduate students. It offers private student loans for creditworthy undergraduate and graduate students who are in satisfactory academic and financial standing. Among its perks is access to professional financial planning.

Fixed APR
3.54%–15.99%
Loan amount
$1,000-100% cost of attendance
Loan term
5-15 yrs

Custom Choice: Best for rewards and benefits

Custom Choice
Rating: 4.1 stars out of 5
4.1

Overview: Custom Choice offers unique benefits that make it stand out. For one, the lender doesn't require that you meet your school's Satisfactory Academic Progress to get approved. And its graduation reward — a 2 percent principal discount — is twice the size of what other lenders offer.

Fixed APR
4.24%–14.02%
Loan amount
$1,000-$180,000
Loan term
7-15 yrs

INvestED: Best for Indiana-based students

Invested

Overview: Indiana-based lender INvestED exclusively serves students who have a permanent address in or attend school in Indiana. The lender takes an active role in increasing state residents’ literacy around student loans by providing financial aid resources to high schools and hosting FAFSA filing events.

Fixed APR
4.80%–9.19%
Loan amount
$1,000-100% cost of attendance
Loan term
5-15 yrs

Earnest: Best for repayment flexibility

Earnest
Rating: 4.5 stars out of 5
4.5

Overview: Earnest is a fintech company headquartered in California that offers undergraduate, graduate and refinance student loans. It took home two Bankrate awards in 2024: best for MBA students and best for parent loans.

Fixed APR
3.94%–16.74%
Loan amount
$1,000-100% cost of attendance
Loan term
5-15 yrs

MEFA: Best for low maximum APR

mefa

Overview: Created by the Massachusetts state legislature in 1982, MEFA is an online lender with a mission to make college more affordable and accessible. Its low APR range and student success resources set this lender apart from the rest. The lender also offers saving plans to Massachusetts residents.

Fixed APR
5.75%–8.95%
Loan amount
$1,500-100% cost of attendance
Loan term
10-15 yrs

Federal student loans: Best overall

Federal Student Loans
Rating: 4.6 stars out of 5
4.6

Overview: Federal Direct Unsubsidized and Direct Subsidized Loans are offered to all students attending qualifying institutions. Unlike private loans, they don't require a credit check to apply and carry the same fixed rate for all borrowers. Plus, when you apply for federal loans through the FAFSA, you're also applying for need-based financial aid and grants.

Fixed APR
6.53%–8.08%
Loan amount
$5.5k– $58k
Loan term
10-25 yrs

Ascent: Best for outcomes-based approval

Ascent
Rating: 4.5 stars out of 5
4.5

Overview: Ascent offers student loans for undergraduate, graduate, international and DACA students, but it stands out for its non-co-signed options for undergraduates. There are two options: credit-based and outcomes-based loans. Both come with multiple repayment options and large loan amounts.

Fixed APR
8.77%–15.28%
Loan amount
$2,001-$400,000
Loan term
5-15 yrs

Funding U: Best for good grades

Funding U
Rating: 3.2 stars out of 5
3.2

Overview: Funding U exclusively serves undergraduate borrowers without co-signers. Its loan amounts are relatively low, and its starting APR is relatively high. But for borrowers who wouldn’t qualify with most lenders based on credit score and income, it could be one of the cheapest loan options. Note that Funding U does check for past credit issues, like missed payments.

Fixed APR
8.49%–13.99%
Loan amount
$3,001-$20,000
Loan term
10-10 yrs

Can you get a student loan without a co-signer?

You can get a federal student loan or private student loan without a co-signer. Federal loans are need-based and do not require a minimum credit score or even a credit history. The exception is Direct PLUS Loans, which require an endorser if you have an adverse credit history.

You may have more difficulty getting a private student loan without a co-signer because they typically have a minimum credit score requirement. If you haven't built a credit history or you have a lower income or credit score — typically below 650 — you may need a co-signer. Co-signers can add a layer of protection and confidence for the lender because a second person is responsible for the loan if the primary borrower can’t pay.

What is a co-signer?

A student loan co-signer is a creditworthy family member or close friend who assumes joint legal responsibility for your student loans. If you add a co-signer, the lender will take that person's financial health into account when approving you and setting your interest rates. 

Co-signers can often help borrowers with little credit history or poor credit qualify. International students are frequently required to have a co-signer who is a U.S. citizen or permanent resident.

When you enlist a co-signer, choose someone you're close with. A co-signer will be required to make payments on the loan if you fail to make them, and their credit score could suffer if the loan becomes delinquent. It’s essential that you and your co-signer trust each other.

If you don’t have a creditworthy co-signer or you simply want to get a student loan without a parent, many lenders don’t require a co-signer if you can meet credit score and financial criteria on your own. You'll need to demonstrate you meet eligibility requirements by providing information about your grades and intended degree as well as copies of bank statements, W-2s and pay stubs. 

Once you're approved, you'll sign your own loan documents and be fully responsible for making payments.

Pros and cons of student loans without a co-signer 

Consider both the pros and cons of taking out a student loan without a co-signer before making a final decision. 

Green circle with a checkmark inside

Pros

  • Don't need to find a creditworthy co-signer.
  • May be able to qualify based on academic merit or future earning potential.
  • Simpler application process, since you don’t have to submit a co-signer’s info.
Red circle with an X inside

Cons

  • Loans may be more expensive, depending on your credit score.
  • Generally harder to get approved for.
  • Offered by fewer lenders.

How to choose the best student loan without a co-signer

  1. Start with federal student loans: Federal student loans are the best choice for most borrowers, but this is especially true for borrowers without a co-signer. Federal student loans are designed to be accessible for all students, regardless of credit score.
  2. Consider your financial situation: If you're in good financial standing, your chances of getting approved for a private loan without a co-signer will be higher. If you're not in the best financial position, look for lenders that consider more than creditworthiness.
  3. Compare fees and rates: Student loans without a co-signer may have higher interest rates than other loans, especially if you have subpar credit. Getting prequalified with multiple lenders the best way to compare the rates you would be offered.
  4. Evaluate the repayment terms: Find a lender that meets your repayment preferences. While a longer repayment timeline lowers your monthly payments, you'll pay more interest overall. You may also wish to compare lenders' deferment options, which could help you if you're ever at risk of falling behind on your loans.

Ask the experts: Can you get a low rate without a co-signer?


Writer, Personal Loans and Debt Relief

"You can absolutely get a low interest rate without a co-signer; however, you'll need to meet a few financial requirements, regardless of the loan. Most lenders require that applicants have an excellent FICO score (800+), a low debt-to-income (DTI) ratio and a steady stream of income to qualify for the lowest rates. If you don't quite meet these criteria but have a decent credit score, you can still technically qualify without a co-signer, but it's more likely that you'll end up with a rate on the higher end."

Nationally recognized student financial aid expert

"All federal education loans do not require a cosigner. Federal student loans have low fixed interest rates that do not depend on your credit score. If you have excellent credit, you might be able to qualify for a private student loan without a cosigner. But, most borrowers need a creditworthy cosigner to qualify for a private student loan and to get a low interest rate. More than 90 percent of private student loans to undergraduate students and more than two-thirds of private student loans to graduate students require a creditworthy cosigner. A cosigner with a better credit score can help you qualify for a lower interest rate."

How to get a student loan without a co-signer

Borrowers who are looking to take out federal student loans — the best option if you don't have a co-signer — should pay close attention to the Free Application for Federal Student Aid (FAFSA). The application opens on Oct. 1, and it's the only way to access federal aid.

  1. Fill out the FAFSA: The Free Application for Federal Student Aid is your ticket to federal aid, including federal student loans. Fill out this form before every school year to see how much you can borrow in federal student loans.
  2. Get prequalified with private lenders: A critical step in taking out private student loans is getting prequalified with several lenders — three is a good benchmark. Prequalification does not affect your credit score, and it allows you to compare your actual rates with private lenders.
  3. Send in an application: Most private lenders will have a completely digital application process. Once you've decided on a lender, you'll select your interest rate, loan amount and loan term, then provide copies of personal and financial documents.
  4. Receive your loan funds: In most cases, student loan funds will be sent directly to your school to cover tuition and fees. Any amount remaining will be sent to you to cover books, supplies, housing and more.

Eligibility requirements for getting a student loan without a co-signer

Your qualification will first depend on if you’re getting a federal loan or private loan. For example, federal loans don’t require a credit score, but do require you to fill out FAFSA. Eligibility requirements for private student loans also vary by lender. However, there are some general requirements that borrowers need to meet in order to get approved.

  • Be a U.S. citizen or an eligible noncitizen.
  • Be enrolled at least half time in a qualifying degree or certification program.
  • Have a valid Social Security number.
  • Fill out the FAFSA.
  • Maintain satisfactory academic progress in college.
  • Be a U.S. citizen or an eligible noncitizen.
  • Be in good financial standing.
  • Have a steady income.
  • Have a valid Social Security number.
  • Meet the lender’s minimum credit score requirement.
  • Be enrolled in a qualifying degree or certification program.
  • Maintain satisfactory academic progress in college.

Alternatives to a student loan without a co-signer

Many students, especially undergraduates, cannot qualify for a student loan without a co-signer. However, there are other options to pay for school:

  • Scholarships and grants: Before turning to student loans, it's best to search for scholarships and grants. Filling out the FAFSA can give you access to some federal, state and institutional grants, but scholarship search engines are also a good tool to stack scholarships that are relevant to your interests and experiences.
  • Work-study: Work-study is federal aid awarded to students with financial need. The program matches students with part-time jobs while they're in school, and you can find out if you qualify once you fill out the FAFSA.
  • Income-share agreements: Income-share agreements are a type of funding that gives students a lump sum for their education in exchange for a percentage of their income after graduation — for instance, 2 percent of their income every month for five years. ISAs typically do not have strict credit requirements, and borrowers do not need a co-signer.

FAQs about student loans without a co-signer

How we chose the best no-cosigner student loan providers 

Bankrate's trusted personal loans industry expertise

48

years in business

25

lenders reviewed

16

loan features weighed

400

data points collected

The Bankrate team evaluated over two dozen lenders to select our top picks for the best student loans. To do this, Bankrate uses a 16-point system to evaluate student loan lenders. This scoring criteria measures how lenders perform across three main categories.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.