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Tina Steele, Financial Aid Expert & Founder, The FAFSA Guru
Mike Ayers, Executive Editor at Money.com
Updated August 24, 2026 · Fall 2026 rates
Fact Checked by Tina Steele
Financial Aid Expert & Founder, The FAFSA Guru
Updated August 24, 2026
Compare today's lowest private student loan rates across top 2026 lenders. Our live marketplace shows current variable and fixed APRs by credit band, school type, and term. Adding a cosigner, enabling autopay, and choosing a shorter term are the three biggest levers, together they can cut your effective rate by 2–4 points.Lowest rates compared. See variable and fixed APRs by credit profile.
Partner
Partner
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Partner PartnerAdvertised “rates from” are the lowest APRs available with autopay and a creditworthy cosigner. Most borrowers pay more; your rate depends on credit, term, and whether you add a cosigner. Rates and figures as of July 2, 2026. How we score · Advertiser disclosures.
† 67% of Money visitors who clicked a lender offer on this page also clicked our #1-rated partner, College Ave. Based on Money internal click data, Q1 2026 (Jan 1–Mar 31), among n=13,927 visitors who clicked at least one student-loan offer; visitors who left without clicking an offer are excluded.
Private student loan rates in 2026 vary by more than 10 percentage points between top-tier and subprime borrowers, which means the lender you choose, the cosigner you add, and the discounts you stack matter as much as the published headline rate. Below is the current rate table refreshed weekly, followed by a complete explainer on variable vs. fixed pricing, the full list of stackable discounts, and the questions borrowers ask most when shopping for the lowest possible APR.
| Lender Tier | Borrower Profile | Variable APR Range | Fixed APR Range | Best Autopay Discount |
|---|---|---|---|---|
| Top-tier | 760+ credit, strong cosigner | 4.49% – 7.99% | 5.24% – 8.74% | 0.25% |
| Premium | 720–759 credit | 5.49% – 9.49% | 6.24% – 10.24% | 0.25% |
| Standard | 680–719 credit | 6.99% – 11.99% | 7.74% – 12.74% | 0.25% |
| Subprime-friendly | 620–679 credit | 9.49% – 14.49% | 10.24% – 15.24% | 0.25% |
*Rates updated weekly. Your actual rate depends on credit score, cosigner, school, program, loan amount, and term.*
Variable rates start lower but move with the market, typically tied to the 30-day average SOFR rate plus a margin set by the lender. Variable APRs can rise (or fall) every quarter. Best for short repayment terms (5–7 years) when you'll pay off the loan before market rates can shift meaningfully against you.
Fixed rates lock in your APR for the entire life of the loan. The starting rate is typically 0.50–1.00 percentage point higher than the equivalent variable rate, but you trade that premium for total payment certainty. Best for longer terms (10–20 years) and for borrowers who prioritize predictable monthly payments over the lowest starting rate.
The break-even math: On a $25,000 loan over 10 years, a 0.75% rate gap between variable and fixed equals roughly $1,200 in extra interest if the fixed rate wins. If variable rates rise by even 1 percentage point on average over the term, the variable loan costs more than the fixed.
| Discount Type | Typical Reduction | How To Get It |
|---|---|---|
| Autopay | 0.25% | Enroll in automatic payments at signup |
| Loyalty / banking customer | 0.25% | Already bank with the lender |
| On-time payment reward | 1.00% reduction or rebate | Make 24+ on-time payments |
| Direct deposit | 0.125% | Receive paychecks at the lender's bank |
| Multi-loan discount | 0.125% | Refinance other loans with same lender |
Most lenders cap stackable discounts at 0.50%–0.75% total. Stack autopay + loyalty for the most reliable combined reduction.
1. Apply with a creditworthy cosigner, saves 1–3 APR points on average. 2. Enable autopay, most lenders shave 0.25%, completely free. 3. Choose the shortest term you can afford, short terms carry materially lower base rates. 4. Compare at least four lenders, rate spreads of 2+ percentage points between competing lenders for the same borrower are routine. 5. Apply early in the academic cycle, lender capacity tightens as the school year approaches, and rates often creep up.
Start the conversation. Copy a prewritten message you can personalize, complete with the application link embedded:
I researched private student loans on Money.com, the original Money Magazine. The lowest-rate lender I found is College Ave. Would you be willing to see if adding your name to my loan helps me qualify for a lower rate? Here's the application: https://money.com/go/6c74d4e5b991
Cosigning means you share the obligation. Compare real rates, cosigner-release and borrower protections.
See cosigner-friendly lenders →Independent personal-finance journalism since 1972. Money scores lenders on rate, repayment flexibility, and borrower protections, judged separately from advertisers.
Advertised rates start at 1.94% APR (College Ave Student Loan). Your actual rate depends on credit, loan term, and whether you add a cosigner. Fixed and variable rates are shown on each offer.
Most students need a creditworthy cosigner, usually a parent, to unlock the lowest rates. See which lenders offer the best cosigner terms and the clearest path to release.
See cosigner-friendly lendersThere is no single "best" private student loan. The right choice depends on your credit profile, whether you have a cosignerCosigner. A creditworthy co-borrower, often a parent, who shares legal responsibility for the loan. Adding one can lower your rate or be the difference between approval and denial., and how much you need to borrow beyond federal aid. We recommend you exhaust federal loans firstWhy federal first? Federal loans carry fixed rates set by Congress, plus income-driven repayment, deferment, and forgiveness options that private loans don't offer., compare APRsAPR, not just the rate. APR folds in fees to show your true yearly cost, making it the apples-to-apples number when comparing lenders. across at least three lenders, and understand your repayment optionsRepayment options. Paying interest-only or a small flat amount while you're in school, instead of deferring, can sharply cut the total interest you pay over the life of the loan. before committing.
Borrow federal first, private only for the gap. Estimate yours in 30 seconds. No personal info required.
Last updated: June 15, 2026 · 2026–27 award year.
Money you don't repay.
529 funds, income, or help from family.
We've maxed your federal aid first. It's almost always cheaper and more flexible than private. Confirm limits at studentaid.gov.
Powers an over-borrowing check. Never stored.
Your estimated private loan gap
$32,500/ year
Estimated using College Ave Student Loan's advertised rate (as low as 1.94% APR*). We price off a realistic 6.75% APR, not the floor, so this isn't an understatement.
Switching to interest-only payments in school could save ~$5,061 over the life of the loan.
Compare lenders for your $32,500 gapYour annual private gap = cost of attendance − scholarships & grants − family contribution & savings − federal student loans. We auto-fill federal loans to the legal maximum for your student type and year before computing any private gap, so federal aid is always used first.
Federal limits follow the 2026–27 award year (rules effective July 1, 2026). Confirm current limits at studentaid.gov.
Monthly payment uses the standard amortization formula: M = P × [ r(1+r)n ] ÷ [ (1+r)n − 1 ], where P is the amount financed, r is the monthly rate (APR ÷ 12), and n is the term in months.
In-school options: deferring lets interest accrue and capitalize (added to principal), so you repay more; paying interest while in school keeps the balance from growing.
Rates are anchored to College Ave Student Loan's advertised floor and a representative ceiling; the estimate uses a realistic mid-band APR, adjusted by whether you add a cosigner. Figures are estimates, not offers.
This is an estimate, not an offer of credit. Actual loan amounts, rates, and terms depend on your creditworthiness, chosen lender, loan term, and other factors. Figures shown are for educational purposes.
Borrow federal first. Federal student loans generally offer lower fixed rates, income-driven repayment, and forgiveness options that private loans don't. Exhaust federal aid and free money (grants and scholarships) before borrowing privately. Confirm current limits at studentaid.gov.
About the rates shown: Advertised APRs reflect our partners' lowest available rates as of June 15, 2026 and require excellent credit, a creditworthy cosigner, autopay enrollment, and the shortest term. Your rate may be higher. Variable rates can rise over time.
Not financial advice. This tool doesn't account for your full financial picture. Consider speaking with your school's financial aid office or a qualified advisor.
Federal loan limits reflect rules effective July 1, 2026 under the 2025 budget reconciliation law, including the elimination of Grad PLUS loans for new borrowers. Source: U.S. Department of Education.
A private student loan helps cover college costs that scholarships, grants, and federal aid don't fully pay for. The best one for you comes down to your rate, repayment terms, and whether you have a cosigner. Here's how to find it.
Before borrowing privately, claim every scholarship and grant you qualify for and max out federal student loans. They're usually cheaper and offer protections private loans don't. Borrow privately only for the gap that's left.
Compare the best private student loans side by side on rate, terms, and fees. Most lenders let you check your estimated rate in minutes with a soft credit check that won't affect your credit score.
Most students get a lower rate, or qualify at all, by applying with a creditworthy cosigner. Look for lenders that offer cosigner release after a set number of on-time payments.
Choose a fixed or variable rate, your repayment term, and whether to make payments while in school. Once you're approved, your lender sends the money directly to your school.
Starting July 1, 2026, the One Big Beautiful Bill Act (OBBBA) will significantly restrict federal borrowing for families and graduate students. This is a summary of the changes:
| Feature | Before July 1, 2026 | After July 1, 2026 |
|---|---|---|
| Parent PLUS Limit (Undergraduate) | Covered up to full cost of attendance | $20k/year cap; $65k lifetime limit total |
| Grad PLUS Loans | Was available up to full cost of attendance | Eliminated (for new borrowers)* |
In terms of federal funding for graduate students, they will now have to rely on Unsubsidized Direct Loans, which also have new annual limits.
Most masters/grad programs will have an annual limit of $20,500 and some professional degrees like Law or Medicine will have a limit of $50,000.
To qualify for the higher $50,000 annual cap, your program must generally fall into one of these 11 specifically defined fields:
If you are pursuing any other Master’s or Doctoral degree, you are capped at the lower amount. This notably includes high-cost fields that were excluded from the “professional” definition, such as:
The Gap: If your tuition exceeds these new limits, private student loans are a great alternative to bridge the gap as they offer flexible rates and terms.
A private student loan is built to cover the gap that’s left after scholarships, grants, and federal aid, and only for qualified education expenses like tuition, fees, housing, books, and a computer. With Parent PLUS now capped and Grad PLUS eliminated under the One Big Beautiful Bill Act (effective July 1, 2026), more families are hitting the federal borrowing limit, so a cosigned private loan is increasingly how students cover what’s left.
It doesn’t have to be a parent. Almost any creditworthy adult can cosign: a parent, grandparent, aunt or uncle, or a trusted family friend. Lenders generally look for a U.S. citizen or permanent resident with steady income and a solid credit history.
Your cosigner isn’t on the loan forever. After a set number of consecutive, on-time, full payments, often 12 to 48, depending on the lender, and once you qualify on your own income and credit, many lenders will release the cosigner. Confirm each lender’s release policy before you apply.
Start with the people closest to your education: a parent, grandparent, aunt or uncle, godparent, or family mentor. When you ask, make it easy to say yes:
A short, no-pressure way to open the conversation with someone you might ask to cosign. Copy it and use it however works for you.
I researched private student loans on Money.com, the original Money Magazine. The lowest-rate lender I found is College Ave. Would you be willing to see if adding your name to my loan helps me qualify for a lower rate? Here's the application: https://money.com/go/6c74d4e5b991
Cosigner-release rules and payment thresholds vary by lender. Check each lender’s terms before applying. Borrow privately only for the gap that scholarships, grants, and federal aid don’t cover.
There are three main ways to borrow for college, and they differ a lot on rates, how you qualify, and how you repay. Here's how private student loans stack up against your other options. Swipe to compare →
| Attribute | Private Student Loans Fill the gap | Federal Student Loans Borrow first | Federal Parent PLUS Parent option |
|---|---|---|---|
| How it works | Loans from a bank, credit union, or online lender. Rates are based on your (or a cosigner's) credit, and you can borrow beyond federal aid. | Government loans in the student's name, with rates and terms set by Congress, not your credit. | Federal loans a parent takes out for a dependent undergrad, in the parent's name. |
| Who qualifies | Based on credit and income. Most students need a creditworthy cosigner to qualify or get the lowest rate. | Any enrolled student who files the FAFSA. No credit check for most loans. | Parents of dependent undergrads who pass a basic adverse-credit check. |
| Interest rates | Fixed or variable, based on creditworthiness. Strong credit or a cosigner unlocks the best rates. | Fixed, set by Congress each year. The same for every borrower. See the current rate at studentaid.gov. | Fixed, and typically higher than student federal loans. Same rate for all borrowers. |
| How much you can borrow | Up to your school's full cost of attendance, minus other aid; fills the gap when federal limits fall short. | Capped by year and student type: roughly $5,500–$12,500/yr for undergrads, $20,500/yr for grad students. Confirm limits at studentaid.gov. | Capped at $20,000/yr and $65,000 lifetime per child (as of July 1, 2026). |
| Repayment & protections | Set by each lender. No federal protections, but many offer in-school payment options and cosigner release. | Strongest: income-driven repayment, deferment, forbearance, and forgiveness programs like PSLF. | Federal protections apply, but with fewer income-driven repayment options than student loans. |
| Best for | Covering the gap after federal aid, especially grad and professional students, now that Grad PLUS has ended. | Almost everyone; borrow these first before going private. | Parents borrowing for a child, but compare the capped federal amount against private parent loans. |
This information is for educational purposes and is not financial advice. Federal student loans generally offer lower rates and stronger borrower protections than private loans. Exhaust federal aid and free money first, and confirm current limits and rates at studentaid.gov before borrowing privately.
Borrow up to your school’s full certified cost of attendance, helpful when scholarships, grants, and federal loans don’t cover everything.
A creditworthy cosigner can unlock the lowest rates, and many lenders release the cosigner after a set number of on-time payments.
Pick deferred, interest-only, or small fixed payments while you’re enrolled. Paying something now lowers what you owe later.
With Grad PLUS ended as of July 2026, private loans are a primary way to fund costs above the new federal caps for graduate and professional programs.
Figures reflect federal student loan rules effective July 1, 2026 and current consumer guidance; each stat is linked to its primary source above for verification. A private student loan must be repaid with interest and typically offers fewer protections than a federal loan. Exhaust scholarships, grants, and federal aid first, and borrow privately only for the gap that remains.
We evaluate private student lenders across four weighted categories to surface the option most likely to fit a typical borrower's situation:
Independent scoring vs. partnership inputs. Scores are produced from the four weighted categories above using each lender's publicly disclosed terms (rates, fees, eligibility, repayment options). Partnership inputs, whether a lender compensates us, the amount of that compensation, and the order in which they appear in our affiliate inventory, are excluded from the score model.
Does compensation affect placement, ranking, or score? Compensation may affect which lenders appear on this page (i.e., placement in our affiliate inventory). Compensation does not affect the score we assign, nor the order in which lenders are ranked. The Editor's Choice designation is awarded based on score and category fit, independent of compensation.
What feeds each score, and which lenders we consider. Every lender is scored on the same inputs you can verify on its card: starting and range APRs, application/origination/prepayment fees, repayment-term options, grace period, deferment/forbearance, cosigner release, and borrower-experience signals (application speed, decision time, disclosure clarity). We evaluate the major national private student lenders, including non-partner lenders not shown here; a lender is included on this page only when a live, compliant offer is available, and exclusion never improves a lender's score. The displayed order is sorted by funded-loan volume, not by score, so a higher score does not buy a higher position.
Fixed 2.19%–17.99% APR
Variable 3.89%–17.99% APR
College Ave offers a streamlined way to fund up to 100% of your certified costs. Known for a fast application process and competitive rates, it's a top choice for students and cosigners looking for simplicity and flexibility.
Best for: Students who want a simple, fast application with flexible repayment and competitive rates.
ProsAmong the lowest published starting fixed APRs in our review pool; instant credit decision shortens the application cycle; four term options (5/8/10/15 yr) give borrowers granular control over monthly payment vs. total interest.
ConsCosigner release is available, but only after on-time payments covering more than half of the repayment term, plus a credit review; a longer path than some peers in our pool.
Not ideal for: Borrowers attending an unaccredited school or pursuing certificate programs that aren't eligible for federal Title IV aid, since College Ave generally certifies through the school's financial aid office.
$10,000 borrowing example: At the lowest 2.19% fixed APR on a 10-year term (post-grace), monthly P&I would be approximately $93 with total interest of roughly $1,144. Actual cost depends on your approved rate, term, and any in-school accrual.
Fixed 2.39%–17.49% APR
Variable 3.75%–16.95% APR
Sallie Mae offers one of the most flexible loan options with no origination fees, a multi-year advantage, and loan coverage for part-time students. Their Undergraduate Student Loan is a strong choice for those seeking coverage for up to 100% of school-certified costs.
Best for: Students looking for flexible loan options and broad eligibility.
ProsMulti-Year Advantage feature lets returning borrowers re-apply in subsequent years with reduced friction; per the lender's own published comparison, undergraduate applicants who applied with a cosigner had materially higher approval rates than those without (Sallie Mae, based on Smart Option Student Loan approval rates, Oct 1, 2022–Sep 30, 2023, see disclaimer).
ConsOnly two repayment terms (10 or 15 years); less flexibility than peers offering 5/8/15 yr ladders for borrowers prioritizing fast payoff.
Eligibility edge case: Part-time students are eligible (a gap many private lenders don't fill), and non-citizen students may apply with a U.S.-citizen or permanent-resident creditworthy cosigner.
Repayment flexibility: Interest-Only, Fixed-Pay ($25/mo), and Deferred in-school options. Prepayment is permitted with no penalty; payments apply to fees, then unpaid interest, then current principal per the promissory note.
Fixed 2.45%–15.99% APR · No fees
Variable 4.39%–15.99% APR
SoFi offers no-fee student loans that can cover up to 100% of school-certified costs. With an autopay discount and flexible repayment options, SoFi is a strong option for students seeking competitive fixed rates.
Best for: Borrowers who want no fees and added member benefits.
ProsFour term options (5/7/10/15 yr) cover both fast-payoff and lowest-monthly-payment strategies; no origination, application, or prepayment fees; ecosystem benefits (banking, planning tools) for borrowers who use other SoFi products.
ConsVariable APRs run as high as 16.73% (on Parent loans; most undergraduate and graduate programs top out between 15.86% and 15.99%). Treat the lowest advertised variable rate as a best-case, not an expected rate.
Eligibility edge case: Non-citizens may qualify if residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa and otherwise meeting SoFi's underwriting; minimum loan amount is $1,000, and the student must attend a SoFi-participating school at least half-time in a degree program.
Customer service observations: SoFi dates the APR ranges on its own rate page and refreshes them frequently; check the date shown there when you compare, since variable rates track 30-day average SOFR and move over time.
Fixed 2.29%–17.99% APR
Variable 3.50%–16.50% APR
Credible is a multi-lender marketplace that lets you compare prequalified rates from multiple private student loan lenders in minutes, without affecting your credit score. Ideal for borrowers who want to shop around efficiently.
Best for: Borrowers who want to compare rates from multiple lenders in one place without impacting their credit.
ProsSoft credit pull for prequalification means shoppers can survey the market without a credit hit; multi-lender comparison surfaces options a single-lender application would miss.
ConsCredible is a marketplace, not a direct lender. Final approval, rate, and terms come from the partner lender, which can differ from prequalified rates after a hard pull (Credible discloses this explicitly).
Borrower fit: Best for rate-shoppers and borrowers with thin credit files who benefit from seeing multiple offers side-by-side before committing to one application.
Not ideal for: Borrowers who already know they want a specific lender (e.g., for ecosystem benefits or an existing banking relationship). Going direct may save a step.
Answers to the most common questions about borrowing privately for college.
Last updated: August 24, 2026
This information is for educational purposes and is not financial advice. Federal student loans generally offer lower rates and stronger borrower protections than private loans. Exhaust federal aid and free money first. Rates and limits current as of August 24, 2026; confirm details with each lender and at studentaid.gov before borrowing.
Comparing lenders is free, takes a few minutes, and there’s no obligation. As the parent cosigning, you’ll see each lender’s rate and cosigner-release terms side by side, then choose the path that fits your family’s budget.
College Ave's student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
¹ All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
Borrow Responsibly. Sallie Mae encourages students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Students and families should evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school.
¹ Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan's Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website may be subjected to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.
² Although Sallie Mae does not charge a penalty or fee if you prepay your loan, any prepayment will be applied as outlined in your promissory note—first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
Based on a comparison of approval rates for Sallie Mae Smart Option Student Loans for undergraduate students who applied with a cosigner versus without a cosigner during a rolling 12-month period from October 1, 2022 through September 30, 2023.
³ Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident), and provide an unexpired government-issued photo ID. Requested loan amount must be at least $1,000.
College Finance is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
Information advertised valid as of 7/2/2026
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.
© 2025 Sallie Mae Bank. All rights reserved. Sallie Mae, the Sallie Mae logo, and other Sallie Mae names and logos are service marks or registered service marks of Sallie Mae Bank. SLM Corporation and its subsidiaries, including Sallie Mae Bank, are not sponsored by or agencies of the United States of America.
1 Interest Rates: Eligibility and Important Details. Fixed rates range from 2.45% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 4.39% APR to 15.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 7/6/2026 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases.
Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments as outlined in your loan agreement by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. When the autopay interest rate deduction is added or removed, the next time the loan is re-amortized (quarterly for fixed rate loans; monthly for variable rate loans), the principal balance of your loan will be spread over the remaining loan term, and your monthly payment amount will change. This benefit is suspended during periods of deferment, grace period, or forbearance. Autopay is not required to receive a loan from SoFi.
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi's underwriting requirements, including verification of sufficient income to support your ability to repay. Not all repayment options may be available for all loans. Minimum loan amount is $1,000. See SoFi.com/eligibility (https://www.sofi.com/eligibility-criteria/#:~:text=Undergraduate%20Student%20Loans%20Eligibility) for more information. View payment examples. (https://www.sofi.com/undergraduate-student-loans-rates/) Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is current as of 5/21/2026 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).
1APR Disclosure: Before making a decision, please read rates and terms at – https://www.credible.com/student-loans 2Prequalified rates are based on the information you provide and a soft credit inquiry. Receiving prequalified rates does not guarantee that the Lender will extend you an offer of credit. You are not yet approved for a loan or a specific rate. All credit decisions, including loan approval, if any, are determined by Lenders, in their sole discretion. Rates and terms are subject to change without notice. Rates from Lenders may differ from prequalified rates due to factors which may include, but are not limited to: (i) changes in your personal credit circumstances; (ii) additional information in your hard credit pull and/or additional information you provide (or are unable to provide) to the Lender during the underwriting process; and/or (iii) changes in APRs (e.g., an increase in the rate index between the time of prequalification and the time of application or loan closing. (Or, if the loan option is a variable rate loan, then the interest rate index used to set the APR is subject to increases or decreases at any time). Lenders reserve the right to change or withdraw the prequalified rates at any time. Get $200 if you can find a better rate" (All bonus payments are by gift card). See terms. 110 Corcoran Street, 5th Floor, Suite 151 Durham, NC 27701. Credible Operations, Inc. NMLS# 1681276, "Credible." Not available in all states.
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