Money Resource · Private Student Loans

Private Student Loan Lenders: The Full SNHU Historical List

Every private lender that funded a Southern New Hampshire University student in the past three award years (2022/23, 2023/24, 2024/25) — categorized, with eligibility cues, so you can tell which lenders you can actually use.

Updated May 2026 80 lenders

Source: SNHU Office of Financial Aid — Historical Private Loan Lender Resource list.

New for the 2026–27 award year

What changed for undergraduate student loans in 2026

The 2025 federal reconciliation law reshaped student lending starting July 1, 2026. Most undergraduate borrowing limits are unchanged — but the rules around Parent PLUS and repayment have shifted in ways that push more families toward private loans. Three changes matter most.

  1. Parent PLUS now has hard caps

    What changed: Parent PLUS Loans are now limited to $20,000 per academic year and $65,000 in total per dependent student. Before, parents could borrow up to the cost of attendance minus other aid — effectively uncapped for most families.

    Why it matters: Families who used Parent PLUS to cover the full funding gap may hit these caps and need a private student loan to make up the difference. That's the change driving the most calls to financial aid offices this year.

  2. Direct Loan limits for undergraduates are unchanged

    What stayed the same: Annual Direct Subsidized and Unsubsidized loan limits for dependent undergraduates remain at $5,500 (year 1), $6,500 (year 2), and $7,500 (year 3 and beyond). The aggregate cap of $31,000 for dependent undergrads (with up to $23,000 subsidized) is also unchanged. Independent undergraduates can still borrow more in Unsubsidized loans.

    Why it matters: Your federal Direct Loan strategy doesn't need to change. File the FAFSA, accept Subsidized first, then Unsubsidized — same playbook as last year. The shift is upstream of you, at the parent/PLUS layer.

  3. SAVE is gone; new repayment plans replace it

    What changed: The SAVE income-driven repayment plan has been eliminated. New federal borrowers now choose between a standard fixed plan (10–25 years depending on balance) and the new Repayment Assistance Plan (RAP). Existing SAVE borrowers are being transitioned to other plans — check your status at StudentAid.gov.

    Why it matters: The repayment math you may have planned around in 2024 or 2025 has changed. Run the numbers under the new plans before deciding how much private debt to add on top of federal — private loans don't offer income-driven options.

Always verify current limits and rules at studentaid.gov; federal rules can shift mid-year. Summary current as of May 2026.

How to use this list

Federal aid before private

Use private loans to fill the gap left after federal aid, scholarships, grants, and 529s — not as a first stop. Federal protections are stronger.

Know your category

National lenders accept anyone who qualifies on credit. State authorities and credit unions often have lower rates but harder eligibility — check before you apply.

Confirm you're eligible

State authorities frequently require state residency or in-state enrollment. Credit unions require membership. Read the lender's eligibility page before you submit a credit pull.

Compare APR, not just rate

Compare the annual percentage rate (APR), repayment options, cosigner release, deferment terms, and total cost over the life of the loan — not just the lowest advertised rate.

The full SNHU historical lender list

80 lenders that funded SNHU students across the 22/23, 23/24, and 24/25 award years — categorized and searchable.

Quick filters — start here if you know what you need:

Browse by state

Find lenders that serve students in your state. Tap a state to filter — national lenders always appear regardless of state.

National Private Lenders (17)

Open to applicants in all (or most) U.S. states. Approval is based on credit and, often, a cosigner.

  • ABE Student Loans

    Open to U.S. borrowers; verify state availability with the lender.

  • Ascent

    Available in all 50 states; offers cosigned and non-cosigned options.

  • Aspire Student Loans

    Iowa Student Loan's national private brand; check state list.

  • Central Bank

    Regional U.S. bank with student loan products; verify state availability.

  • Citizens

    National lender (Citizens Bank); requires credit qualification or cosigner.

  • College Ave Student Loans

    Available in all 50 states; multiple repayment options.

  • Custom Choice

    National brand from Cognition Financial; available in most states.

  • Earnest

    National lender; merit-based underwriting in addition to credit.

  • FUNDING U

    National lender focused on undergraduates without a cosigner.

  • LendKey

    Marketplace that matches borrowers to participating credit unions and community banks.

  • Nelnet Bank

    National lender (a Nelnet, Inc. subsidiary).

  • PNC Bank

    National bank lender; requires credit qualification or cosigner.

  • Regions

    Regional/national bank (Regions Bank) student loan product.

  • Sallie Mae

    Largest private student lender in the U.S.; available nationwide.

  • SoFi Lending

    National lender; emphasizes member benefits and refinance options.

  • SouthEast Bank

    Regional bank with national student loan reach via Education Loan Finance (ELFI).

  • Union Federal

    National brand from Cognition Financial; available in most states.

State-Based Loan Authorities (18)

Quasi-governmental nonprofit lenders. Frequently require state residency or attendance at an in-state school. Often the lowest rates available — worth checking if your state has one.

  • Alaska Commission on Postsecondary Education

    Alaska residents or students attending Alaska schools.

  • Arkansas Student Loan Authority

    Arkansas residents or students attending Arkansas schools.

  • Bank of North Dakota

    State-owned bank; primarily for North Dakota residents or in-state students.

  • CHESLA — Connecticut Higher Education Supplemental Loan Authority

    Connecticut residents or students attending Connecticut schools.

  • FAME — Finance Authority of Maine

    Maine residents or students attending Maine schools.

  • Granite Edvance

    New Hampshire-focused; eligibility tied to NH residency or school.

  • Higher Education Servicing Corporation

    Texas-based; eligibility typically tied to Texas schools.

  • Iowa Student Loan

    Iowa residents or students attending Iowa schools.

  • KHESLC — Kentucky Higher Education Student Loan Corporation

    Kentucky residents or students attending Kentucky schools.

  • MEFA — Massachusetts Educational Financing Authority

    Massachusetts residents or students attending Massachusetts schools.

  • MN Self — Minnesota Office of Higher Education

    Minnesota residents or students attending Minnesota schools.

  • New Hampshire Education Assistance Foundation

    New Hampshire residents or students attending NH schools.

  • NJ CLASS — Higher Education Student Assistance Authority

    New Jersey residents or students attending NJ schools.

  • North Carolina Student Assistance Loan

    North Carolina residents or students attending NC schools.

  • PHEAA — Pennsylvania Higher Education Assistance Agency

    Pennsylvania residents or students attending PA schools.

  • RISLA — Rhode Island Student Loan Authority

    Rhode Island residents or students attending RI schools (some products are open out-of-state).

  • South Carolina Student Loan

    South Carolina residents or students attending SC schools.

  • VSAC — Vermont Student Assistance Corporation

    Vermont residents or students attending Vermont schools.

Credit Unions (42)

Member-owned cooperatives that often offer competitive student loan rates. You must qualify for membership — usually by geography, employer, family, or association — before you can apply.

  • Affinity Plus Credit Union

    Membership: Minnesota residents and select employer/association groups.

  • AmeriCU Credit Union

    Membership: Central New York residents and military.

  • Apple Federal Credit Union

    Membership: Northern Virginia residents, employers, schools.

  • Arrowhead Credit Union

    Membership: Southern California residents (San Bernardino/Riverside).

  • Baxter Credit Union (BCU)

    Membership: Baxter International employees, family, and select community/employer groups.

  • Bright Bridge Credit Union

    Membership: select community and employer groups; verify directly.

  • CEFCU — Citizens Equity First Credit Union

    Membership: Illinois (Peoria) and select counties.

  • Central One Federal Credit Union

    Membership: central Massachusetts residents, employers, schools.

  • Clearview Federal Credit Union

    Membership: Western Pennsylvania residents (Pittsburgh region).

  • Digital Federal Credit Union (DCU)

    Membership: Massachusetts and partner-organization members nationwide.

  • Dupaco Credit Union

    Membership: Iowa, Illinois, Wisconsin counties (verify list).

  • Empower Federal Credit Union

    Membership: Central New York residents.

  • Founder's Federal Credit Union

    Membership: South Carolina counties and select employers.

  • Fox Communities Credit Union

    Membership: Wisconsin counties (Fox Valley).

  • Georgia's Own Credit Union

    Membership: Georgia residents and select employer/association groups.

  • Global Credit Union

    Membership: Alaska residents and select states (AZ, CA, ID, WA) and employers.

  • Hudson Valley Credit Union

    Membership: Hudson Valley region of New York.

  • Interra Credit Union

    Membership: Indiana counties (Elkhart and surrounding).

  • Jeanne D'Arc Credit Union

    Membership: Greater Lowell, Massachusetts area residents and employers.

  • Landmark Credit Union

    Membership: Wisconsin and Northern Illinois.

  • Members 1st Federal Credit Union

    Membership: Pennsylvania counties (Central PA).

  • Metro Credit Union

    Membership: Massachusetts residents.

  • MIT Federal Credit Union

    Membership: MIT students, employees, alumni, and family.

  • Municipal Credit Union

    Membership: New York City municipal employees and family.

  • Navy Federal Credit Union

    Membership: military, DoD, veterans, and family — nationwide.

  • North Country Federal Credit Union

    Membership: Vermont residents and employers.

  • Ontario Shores Federal Credit Union

    Membership: Wayne County, New York residents.

  • Pacific Cascade Federal Credit Union

    Membership: Lane County, Oregon residents.

  • Rivermark Community Credit Union

    Membership: Oregon and Washington county residents.

  • Saratoga's Community Federal Credit Union

    Membership: Saratoga County, New York residents.

  • SECU Credit Union

    Membership: state employees, family, and select states (verify which SECU you qualify for).

  • Service Credit Union

    Membership: New Hampshire residents, military, and select groups.

  • St. Jean's Credit Union

    Membership: Massachusetts (Lynn) area and select employers.

  • Summit Credit Union

    Membership: Wisconsin residents and counties.

  • Summit Federal Credit Union

    Membership: New York residents (Rochester/Finger Lakes).

  • Suncoast Credit Union

    Membership: Florida residents (most counties).

  • T & I Credit Union

    Membership: Michigan auto-industry employees and family.

  • Tuscon Federal Credit Union

    Membership: Pima County, Arizona residents and employers (note: spelled "Tuscon" in source list).

  • United Federal Credit Union

    Membership: Indiana, Michigan, Nevada, North Carolina, Ohio counties.

  • Visions Federal Credit Union

    Membership: New York, Pennsylvania, New Jersey counties.

  • Wings Financial Credit Union

    Membership: Minnesota, select states, and air-transportation industry workers.

  • Workers Credit Union

    Membership: Massachusetts residents and select counties.

Specialty / Membership Programs (3)

Niche programs with unique structures or narrow eligibility — income-share agreements, regional nonprofits, or association-only lending.

  • AAA

    Membership: AAA member benefit; eligibility tied to club membership and program state availability.

  • Edly Inc

    Income-share-style private student loan; eligibility based on school, major, and projected post-graduation earnings rather than traditional credit.

  • Newington Student Assistance Fund

    Local nonprofit assistance fund tied to Newington, Connecticut residency.

Borrower glossary

Plain-English definitions of the terms you'll see when comparing private student loans.

APR (Annual Percentage Rate)

The yearly cost of borrowing, expressed as a percentage. Includes the interest rate plus most fees. Always compare APRs, not just headline interest rates — a low rate paired with high fees can have a higher APR than a slightly higher rate with no fees.

Cosigner

A creditworthy adult (often a parent) who legally agrees to repay the loan if you can't. Adding a cosigner usually unlocks lower rates because the lender's risk drops. The cosigner's credit is on the line until the loan is fully paid or released.

Cosigner release

A feature that lets a cosigner be removed from the loan after the primary borrower has made a set number of on-time payments and meets credit and income criteria. Not all lenders offer it — confirm before signing.

Deferment

A period when you don't have to make payments — for example, while you're still in school or for a defined hardship window. Interest may or may not continue to accrue depending on the loan type and lender.

Forbearance

A temporary pause or reduction in payments granted by the lender, usually for short-term hardship. Interest almost always continues to accrue. Federal forbearance options are far more generous than private.

Variable vs. fixed rate

A fixed rate stays the same for the life of the loan; a variable rate moves with a benchmark (often SOFR) and can rise or fall over time. Variable rates often start lower but carry the risk of rising. Choose fixed for long terms or rate-rise environments.

In-school payments

Whether you make payments while still enrolled. Common options: full payment, interest-only, fixed flat ($25/month), or fully deferred. Paying anything in-school cuts your total cost; full deferral costs the most over the life of the loan.

Origination fee

A one-time fee taken from the loan amount when it disburses. Federal PLUS Loans have one (currently around 4%); most private student loans do not. If a private lender charges one, factor it into your APR comparison.

Frequently asked questions

Why should I borrow federal student loans before private loans?

Federal Direct Loans offer fixed rates, income-driven repayment plans, generous deferment and forbearance, and access to forgiveness programs (PSLF, IDR forgiveness). Private loans almost never match these protections. File the FAFSA every year and accept federal aid first; only turn to private loans to fill the gap.

Did federal student loan limits change in 2026?

Yes — but mostly for parents, not undergraduates directly. Effective July 1, 2026, Parent PLUS Loans are capped at $20,000 per academic year and $65,000 total per dependent student (previously they could cover the full cost of attendance minus other aid). Annual Direct Subsidized and Unsubsidized loan limits for undergrads are unchanged ($5,500/$6,500/$7,500 depending on year, $31,000 dependent aggregate). The SAVE income-driven repayment plan was also eliminated and replaced with a new Repayment Assistance Plan (RAP) for new federal borrowers. Always check StudentAid.gov for the latest figures.

Is this list every private lender SNHU works with?

It is every private lender that actually funded an SNHU student during the 2022/23, 2023/24, and 2024/25 award years — but SNHU notes the list is not exhaustive. Other lenders may serve SNHU students; SNHU does not endorse, recommend, or restrict any lender on this list.

Can I use a state loan authority if I don't live in that state?

Usually no. Most state-based loan authorities require either residency in the state or enrollment at a school within the state. A few — RISLA is one example — accept out-of-state borrowers for some products. Always read the lender's eligibility page before applying.

How do credit-union student loans usually work?

Credit unions are member-owned cooperatives, and you need to qualify for membership (often by geography, employer, family relationship, or association) before you can apply for a loan. Some credit unions offer noticeably lower rates than national lenders, but the membership step is a real barrier. If you already bank with a credit union on this list, ask about their student loan options first.

What's the difference between a national lender and a state authority?

National lenders (Sallie Mae, College Ave, SoFi, Earnest, etc.) are open to qualified borrowers nationwide and compete on rates and features in the open market. State authorities are nonprofit or quasi-governmental and exist to make loans more affordable for state residents — they often have lower rates, simpler underwriting, and stronger borrower protections, but eligibility is restricted.

Should I trust this list to pick a lender?

This page is a directory, not a recommendation. Always verify a lender's current rates, fees, eligibility requirements, repayment options, and reputation directly with the lender and through independent reviews before applying. SNHU explicitly says inclusion is not an endorsement, and we agree.

We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included.
Learn more

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

Where this list comes from

The 80 lenders above are reproduced from Southern New Hampshire University's Historical Private Loan Lender Resource list, which catalogs every private lender that funded an SNHU student during the 2022/23, 2023/24, and 2024/25 financial aid award years.

Per SNHU: "This is not an exhaustive list. Inclusion on this list is not an endorsement or recommendation. Some lenders restrict by state, degree level, or academic progress — verify eligibility directly with the lender."

Categories ("National," "State authority," "Credit union," "Specialty") and one-line eligibility cues were added by Money editors to make the list more useful than alphabetical. Eligibility cues are summary guidance only — always confirm with the lender. Source link: SNHU — Student Loans page.