Find the Right Student Loan for You
Answer 5 quick questions and we will match you with federal and private loan options tailored to your situation.
Step 1: What type of school?
Federal vs. Private Student Loans: Which Should You Choose?
Federal student loans are offered by the U.S. Department of Education and come with important benefits like income-driven repayment plans, forgiveness programs, and fixed interest rates. Most students should maximize federal loans before considering private options.
Private student loans are offered by banks, credit unions, and online lenders. They may offer competitive rates for borrowers with excellent credit or a strong cosigner, but lack the flexible repayment options and protections of federal loans.
2026 Federal Student Loan Rates
| Loan Type | Rate (2025-26) | Who Qualifies | Annual Limit |
|---|---|---|---|
| Direct Subsidized | 5.50% fixed | Undergrad with financial need | $3,500 - $5,500 |
| Direct Unsubsidized | 5.50% fixed | Undergrad (all) | $5,500 - $7,000 |
| Direct Unsubsidized (Grad) | 7.05% fixed | Graduate students | $20,500 |
| Direct PLUS (Parent) | 8.05% fixed | Parents of dependents | Cost of attendance |
| Grad PLUS | 8.05% fixed | Graduate/professional | Cost of attendance |
Frequently Asked Questions
What credit score do I need for a private student loan?
Most private lenders require a minimum credit score of 650-680. If you have limited credit history, a cosigner with good credit (670+) can help you qualify and often secure a lower rate. Some lenders like Sallie Mae and College Ave have more flexible credit requirements.
Can I get a student loan without a cosigner?
Federal student loans do not require a cosigner or credit check (except PLUS loans). For private loans without a cosigner, you will need strong credit (typically 680+) and proof of income or employment. Lenders like Ascent offer non-cosigned options for juniors and seniors with strong academic records.
How much can I borrow in student loans?
Federal loan limits vary by year and dependency status: $5,500-$12,500 per year for undergrads and $20,500 per year for grad students (plus PLUS loans up to cost of attendance). Private lenders typically cover up to the full cost of attendance minus other aid.