What is a student loan?

A student loan is a type of loan designed specifically to help students pay for post-secondary education and the associated fees, such as tuition, books, and living expenses. These loans are often offered at lower interest rates and have more flexible repayment terms than other types of loans.

Should I pay for school with student loans or other financial aid?

Deciding between student loans and other forms of financial aid depends on your personal financial situation, the cost of your education, and the types of aid you're eligible for. Scholarships, grants, and work-study programs are preferable as they don't need to be repaid, but student loans can be a valuable tool if these options don't cover all your expenses.

Will I need a cosigner for a student loan?

Whether you need a cosigner for a student loan typically depends on the type of loan and your credit history. Federal student loans usually don't require a cosigner, but private student loans often do, especially for students with limited or no credit history.

How do I apply for student loans?

To apply for student loans, start by completing the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for federal loans, grants, and work-study programs. For private loans, you'll need to apply directly through a bank, credit union, or online lender, and the process will vary by lender.

What should I know about the Federal Student Loan repayment pause?

The Federal Student Loan repayment pause was a temporary suspension of loan payments, interest accrual, and collections on defaulted loans due to the COVID-19 pandemic. It's important to stay updated on the current status of this pause, as it has been subject to extensions and policy changes, and to understand how it impacts your loan repayment strategy.

What are my repayment plan options for student loans?

Standard Repayment Plan: This is the default plan, where you pay a fixed amount each month for the loan term, typically 10 years. It's straightforward and usually results in the least amount of interest paid over time. Graduated Repayment Plan: Ideal for those expecting their income to increase over time, this plan starts with lower payments that gradually increase, usually every two years. While you might pay more interest over time compared to the standard plan, it can ease your initial financial burden. Income-Driven Repayment Plans: These plans adjust your monthly payments based on your income and family size. They're designed to be affordable, with payments recalculated each year. While they can extend your loan term and potentially increase the total interest paid, they offer a safety net if your income fluctuates.

How can I make sure I borrow responsibly?

Distinguish between needs and wants. Needs are essentials like tuition and textbooks, while wants might include a more expensive dorm room or lifestyle choices. Prioritize your needs to minimize borrowing. Understand the total cost of a loan. This isn't just the amount you borrow; it includes interest, fees, and the loan term. A longer repayment period might reduce your monthly payment, but it increases the total interest paid over time. Use our transparent loan calculators to see the full picture.

What are the 4 types of student loans?

The four main categories of student loans are Federal Direct Subsidized, Federal Direct Unsubsidized, Federal Direct PLUS, and private student loans. Each has its own set of loan terms, interest rates, borrowing limits, and other unique features.

How quickly can I get my student loans?

There are a few key steps when applying for student loans, and the time it takes to receive the funds can vary based on the type of loan. The disbursement of student loan money generally coincides with the start of the semester, but it can take several weeks from the time you accept the loan offer. That's why it is important to apply early to ensure that funds are available and sent to the school when you need them.

How does adding a cosigner affect my loan?

Adding a cosigner to a student loan application, especially for private loans, can offer significant benefits, including improved approval odds, better interest rates, and an opportunity to build credit.

What can student loans be used for?

Student loans are designed to help cover the various costs associated with higher education. Eligible expenses include tuition, fees, housing, meal plans, books, supplies, and transportation.

How do I choose between a fixed and a variable rate?

Fixed interest rates remain the same for the life of the loan, offering predictability, while variable rates fluctuate based on the market. Choosing the best option depends on your financial outlook and risk tolerance.

How long do you have to pay off a student loan?

The repayment period for student loans varies. Federal student loans typically have a standard 10-year term, while private loans range from 5 to 20 years depending on lender agreements and borrower credit.

A Better Student Loan Experience.

Whether you’re a parent or a student looking for a loan, we’re here for you. Take the stress out of paying for college by creating a private student loan that fits your budget and your goals. With a simple application, flexible loan options, and great customer service, we’re here to help you breathe easy on your college journey.

3 minutes to apply
Cover 100% of school costs²

Rates starting at

2.59% APR¹

No origination fees
Cover 100% of school costs²

Rates starting at

2.59% APR¹

No origination fees
Flexible repayment options
Cover 100% of school costs²

Rates starting at

2.59% APR¹

No origination fees
Flexible repayment options
Cover 100% of school costs²

Rates starting at

2.59% APR¹

Who we are.

We’re former students, and many of us are parents, so we get where the stress comes with applying for loans. We don’t just like to say it, so we built our business around it. Our private student loans double-major in support and simplicity so it would be as painless as possible for you. Put our useful tools, faster application, and flexible loan options to the test.

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All rates shown include the auto-pay discount. Variable rates may increase after consummation. 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.

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Admissions

College Application Deadlines: What to Know for 2025-2026

Student Loans

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FAFSA

File the FAFSA to Get More Money in College

College Ave

Repaying Your College Ave Student Loan

Financial Aid

Private: 8 Types of Scholarships for Students

Financial Aid

How to Read Your Financial Aid Award Letter

Financial Aid

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Student Loans

How To Take Out Student Loans For College

Paying for College

Private: How is a Student Loan Different From a Scholarship

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Upcoming Changes to the FAFSA That You Should Prepare For

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10 Common FAFSA Errors to Avoid

Parent Tips

How to Pay for College: A Step-by-Step Guide

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