Best Student Loans Of

Best Student Loans

Over the last few decades, the cost of college has steadily increased with no clear signs of stalling. Student loans act as a lifeline for millions of people who plan to pursue higher education. On average, students borrow more than $30,000 to achieve a bachelor’s degree^[1], with those attending for-profit school’s borrowing significantly more. And with a multitude of options available, choosing the right student loan is essential for managing costs and minimizing debt. We’re here to help break down the different types of loans, including federal and private options, their benefits, recommended choices and the criteria for selecting the best one for your needs and long-term budget. 

Student Loans Overview 

While student loans are intended to help level the playing field and expand access to continuing education, it’s important to remember that the more you borrow, the more you’ll owe, which can make it challenging to manage those monthly payments when you’re still trying to gain your footing after graduation. It’s smart to explore various ways to help offset educational costs in addition to student loans, like applying for federal grants or work-study funds, plus researching other grants and scholarships that are available, as well as tuition installment plans, to help keep costs down. 

But the truth is, often these options still fall short, and the majority of students will need to take out some type of loan to help fund their education, which makes it critical to understand the market. Generally, there are two main types of student loans: Private and federal.

Best Private Student Loans

While federal student loans are funded by the government, private student loans are provided by lenders, such as a bank, credit union, state agency or school. Federal loans tend to have a maximum allotment that may not cover enough of the overall educational expenses for students, which makes private loans a necessity. 

Unlike federal loans, private student loans do not offer standard repayment plans and interest rates, but are instead dependent on a credit check for you—or a co-signer if you have one, to determine which loans and terms you qualify for. 

Though it may be more difficult to be approved for private loans, they also offer greater borrowing potential than federal loans and better interest rates for those with strong credit scores. The perks of private student loans for borrowers with a positive credit history can also include more flexible loan terms and quick approval processes. If you don’t know where to start, Credible is a great resource for comparing private student loans and refinancing offers from multiple lenders simultaneously to help you narrow down your list. 

But there are also drawbacks to private student loans. Private loans can be more expensive— especially for people with lower or no credit, your rate terms can fluctuate, and private lenders often offer little flexibility if you have trouble making payments down the line.

Generally, it’s recommended to exhaust your options for federal student loans first and only use private student loans to cover any extra cost as needed. 

Best Banks for Student Loans 

Private student loans are often the only way many students can cover their overall educational expenses, which extends beyond just tuition to include room and board, books, supplies and more. 

Sallie Mae has become almost synonymous with student loans, with a long history of offering both private and federal student loans, although the company now specializes in providing private loans only. It offers loans for a variety of needs, including undergrad, MBA school, medical school, dental school and law school. Its loans also feature 100 percent coverage, so you can find funding for all your certified school expenses, plus repayment terms ranging from 10 to 20 years. 

It’s critical to shop around to secure the best private loan for your needs, with popular banks like SoFi and Citizens Bank also among some of the preferred lenders for private student loans.

Best Federal Student Loans 

Federal student loans are provided by the U.S government and are often preferred over private loans due to their benefits, fixed terms and availability. With no credit check or cosigner required, just about anyone who is in good academic standing can apply for Federal Direct Loans by submitting a FAFSA (Free Application for Federal Student Aid) form.

Federal Direct Loans have fixed interest rates, which means they won’t increase over time, and the interest rate is the same for all borrowers regardless of their credit. You’re also not required to begin making payments on federal loans until six months after you graduate, and if you run into issues, there are usually multiple options to help readjust or even pause your monthly payments based on certain circumstances. Plus, only federal loans are eligible for student loan forgiveness. 

Unfortunately, federal direct loans also come with downsides, too. Mainly, they have lower borrowing limits that may not be enough to cover all of your educational expenses. It’s still recommended to start with federal loans and consider private loans as a supplement to cover any additional costs. 

Best Student Loans for College 

While there are student loans available for trade schools and certifications, most loans are used toward paying for undergraduate and graduate degrees. 

Federal Direct Loans are great for college students as you don’t have to start payments until after you’ve graduated. Some loans, like Direct Subsidized loans, don’t charge undergraduate students interest while you’re in school, helping to keep long-term costs down. 

Private student loans can fill the gap, with lenders like College Ave being one of the top picks for college students due to their flexible repayment options, low interest rates, quick and free application process, and coverage for up to 100 percent of school expenses. 

Best Graduate Student Loans

When considering loans for graduate school, look for options that offer low interest rates and flexible repayment plans. Federal Direct Unsubsidized Loans and Direct PLUS Loans are excellent choices. Additionally, private lenders like Earnest and SoFi offer competitive graduate student loans with favorable terms.

Best Parent Student Loans

Parents looking to help their children finance their education can consider federal Direct PLUS Loans. Private loan lenders like Sallie Mae and College Ave offer competitive options for parents, as well as consignor plans with early release terms for consecutive payments.

Best Rates for Student Loans

Federal student loans tend to offer the lowest interest rates, with no credit check required. When it comes to private loans however, borrowers with the highest credit scores or ones who have a cosigner with a good credit history often receive the best rates. Make sure to compare multiple lenders’ interest rates, fees, repayment options and perks, as well as decide if a fixed interest rate (which does not change over time) or a variable interest rate (changes with the market) is the right option for your situation. Earnest is a popular private lender known for low interest rates, an auto-pay discount, flexible terms and a rate match guarantee. 

Best Student Loans for Bad Credit 

If you have a poor credit history or lack an established credit history at all, federal student loans are typically your best option due to their lack of credit requirements. All borrowers get the same rates regardless of credit score and history. For private loans, most companies will require a cosigner to offset their perceived risk. Look for lenders like A.M. Money and MPower Financing, which specialize in providing loans to students with bad credit.

Best Student Loans Without Cosigner 

For students who cannot find a cosigner, most Federal Direct Loans do not require a cosigner to apply, while some private lenders also offer loans without this requirement. Ascent and Funding U are notable lenders in this category. With Ascent, students can apply for the Non-Cosigned Outcomes-Based loan with eligibility based on your school, program, major, GPA and criteria other than established credit. 

Best Refinance Student Loans

Refinancing student loans can help you secure a lower interest rate and better repayment terms. To find the best rates for student loan refinancing, compare offers from multiple lenders. Look for lenders that offer fixed and variable rates, no origination fees, and flexible repayment terms. Top refinance lenders include SoFi, CommonBond and Earnest.

Best Direct-to-Consumer Student Loans

Direct-to-consumer student loans are distributed directly to the borrower rather than the school. These loans can provide greater flexibility and faster access to funds, but this is often accompanied by higher fees and interest rates. Top lenders in this category include Sallie Mae and Discover Student Loans.

Sources

^{[1] Education Data Initiative, Average Student Loan Debt}

Disclaimers

CollegeAve

Disclosure:

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, 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.
2. As certified by your school and less any other financial aid you might receive. Minimum $1,000.

3. This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 11/01/2024. Variable interest 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.

Ascent

Disclosure:

Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent’s Terms and Conditions please visit: AscentFunding.com/Ts&Cs.

Rates displayed above are effective as of 11/05/2024 and reflect an Automatic Payment Discount of 0.25% for credit-based college student loans and 1.00% discount on outcomes-based loans when you enroll in automatic payments. The Full P&I (Immediate) Repayment option is only available for college loans (except for outcomes-based loans) originated on or after June 3, 2024. For more information, see repayment examples or review the Ascent

Student Loans Terms and Conditions. The final amount approved depends on the borrower’s credit history, verifiable cost of attendance as certified by an eligible school, and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores.

Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. 1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits.

The AscentUP platform is only available to eligible Ascent borrowers and subject to terms and conditions.

Credible

Disclosures:

Prequalified Rates Disclosure:

• Prequalified 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. Lowest rate advertised is not available for all loan sizes, types, or purposes, and assumes a very well qualified borrower with an excellent credit profile.

Won’t Impact your Credit Score Disclosure:

• Requesting prequalified rates on Credible is free and doesn’t affect your credit score. However, applying for or closing a loan will involve a hard credit pull that impacts your credit score and closing a loan will result in costs to you.

Sallie Mae

Disclosures:

Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. 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. 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.

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.

2 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. Payments may be required during the grace/separation period depending on the repayment option selected. Variable rates may increase over the life of the loan.

3 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 will be subject 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.

4 Although we do 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.

SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS,
SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Information advertised valid as of 10/12/2024

Sallie Mae loans are made by Sallie Mae Bank.
ConsumerRating is not the creditor for these loans and is compensated by Sallie Mae
for the referral of the Sallie Mae loan customers.

SoFi

Disclosure:

¹UNDERGRADUATE LOANS: Fixed rates range from 3.54% APR to 14.83% APR with 0.25% autopay discount. Variable rates range from 5.54% APR to 15.86% APR with a 0.25% autopay discount. GRADUATE LOANS: Fixed rates range from 3.54% APR to 14.83% APR with 0.25% autopay discount. Variable rates range from 5.54% APR to 15.86% APR with a 0.25% autopay discount. PARENT LOANS: Fixed rates range from 5.74% APR to 14.83% APR with 0.25% autopay discount. Variable rates range from 6.07% APR to 15.86% 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%. 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. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments 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. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.

⁴To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

0.25% Continuing Scholar Discount: Terms and conditions apply. Offer good for private student loan customers who have previously borrowed a private student loan from SoFi and are taking out a subsequent loan only, select a term and repayment type that is eligible for the discount, and is subject to lender approval. To receive the offer, you must: (1) complete a loan application with SoFi between 5/29/24 12:01AM PT to 9/1/24 11:59PM PT; and (2) meet SoFi’s underwriting criteria. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.25% rate discount because you have borrowed a private student loan from SoFi in the past. Offer good for existing private student loan borrowers only. Offer cannot be combined with other rate discounts, with the exception of the 0.25% AutoPay rate discount. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice.

0.25% Family Rate Discount: Terms and conditions apply. Offer good for SoFi private student loan cosigners who have previously borrowed a private student loan from SoFi and are taking out a subsequent loan only, select a term and repayment type that is eligible for the discount, and is subject to lender approval. To receive the offer, you must: (1) complete a loan application with SoFi; (2) meet SoFi’s underwriting criteria. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.25% rate discount because you have borrowed a private student loan from SoFi in the past. Offer good for existing private student loan cosigners only. Cannot be combined with other rate discounts, with the exception of the 0.25% autopay rate discount and the SoFi Member Discount. Once the family discount benefit is earned, it cannot be lost. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice.

²The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments 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. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and 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. (https://www.sofi.com/faq/)

Terms and conditions apply. SoFi Private Student loans are originated by SoFi Bank, N.A. NMLS # 696891 (www.nmlsconsumeraccess.org). Minimum loan requirements may be higher than $1,000. For additional product-specific legal and licensing information, see SoFi.com/legal.

³Reward Eligibility:

If eligible, you may receive one cash reward to a SoFi Checking and Savings account. The cash reward offered is $100 for single-semester loans and $250 for full-year loans. 

You will be eligible to receive the cash reward to a SoFi Checking and Savings account on the school-certified loan amount if:

• You must be a US citizen or permanent resident
• Must be 18 years of age or older
• Your cumulative Grade Point Average (GPA) for the academic period in which your loan was taken out is at least a 3.0. 
• Must have applied for and/or have an existing SoFi Checking and Savings account under the same name listed on your SoFi Private Student Loan
• Your SoFi Private Student Loan is for Fall 2024, Spring 2025, Summer 2025, or the full ‘24-25 academic year.
• You signed your loan agreement for a SoFi Private Student Loan during the promotional period. 
• The first disbursement on your eligible student loan has been sent to your school.

Please note: If you apply for and are approved for multiple loans, you will be eligible to receive the reward once for the academic year associated with your loan(s). For example, if you took out a loan for Fall 2024 and Spring 2025, only one of those loans would be eligible for Good Grades Rewards.

Your final reward amount will be determined by the length of your loan period. 

This reward is considered taxable income and may be reported on IRS Form 1099-MISC. We recommend you consult a tax professional for advice.

It is your responsibility to notify us if you do not receive an expected cash reward, once you complete and submit the redemption form. You can contact SoFi at (855) 456-SOFI (7634) or via the chat function in the app.

Reward Redemption: To redeem the reward, you must log in to your SoFi account and fill out the redemption form. The form should be completed after accepting the loan and receiving your cumulative GPA for the academic period associated with the loan. The redemption form will become available after the first disbursement of your loan has been received by your school.

Upon self-attestation of your cumulative GPA, a credit of $100 or $250 will be added to the SoFi Checking and Savings account registered under your name.

In the event your SoFi Checking and Savings account application is declined, we will email instructions to credit you the rewards amount via Automated Clearing House (ACH). We may request additional documentation to verify the GPA (or equivalent) provided on the redemption form. If any information provided on the redemption form is inaccurate, SoFi reserves the right to end your consideration for the promotion.

Changes to These Terms and Conditions: The Student Loan Rewards for Good Grades Program may end at any time.  These Terms and Conditions are subject to change without notice. Changes may include, but are not limited to, changing the redemption methods or imposing additional conditions.

Information advertised valid as of 11/11/2024

©2024 SoFi Bank, N.A. All rights reserved. Equal Housing Lender.

Earnest

Disclosure:

Student Loan Origination (Private Student Loan) Interest Rate Disclosure:

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 4.14% APR to 16.74% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.87% APR to 17.10% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan origination loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.

1. Before applying for private student loans, it’s best to maximize your other sources of financial aid first.  It’s recommended to use a 3-step approach to assembling the funds you need: 1) Look for funds you don’t have to pay back, like scholarships, grants, and work-study opportunities.  2) Next, fill out a FAFSA(R) form to apply for federal student loans.  Federal Direct subsidized and unsubsidized loans, excluding PLUS Loan for Parents and PLUS Loan for Graduate and Professional Students which require a credit check and a credit worthy endorser if the parent or graduate or professional student has adverse credit, do not require a credit check or cosigner, and offer various protections if you’re struggling with your payments.  3) Finally, consider a private student loan to cover any difference between your total cost of attendance and the amount not covered in steps 1 and 2.  For more information, visit the Department of Education website at https://studentaid.gov/
   2. Please note that you may lose benefits associated with your underlying federal loans, such as federal Income-driven Repayment Plans (an example of which is the SAVE plan), Economic Hardship Deferment, Public Service Loan Forgiveness, or other deferment and forbearance options, if you refinance into a private loan. If you file for bankruptcy, you may still be required to pay back this loan.
   3. Earnest does not charge fees for origination, late payments, returned check, or prepayments. Florida Stamp Tax: For Florida residents, Florida documentary stamp tax is required by law, calculated as $0.35 for each $100 (or portion thereof) of the principal loan amount, the amount of which is provided in the Final Disclosure. Lender will add the stamp tax to the principal loan amount. The full amount will be paid directly to the Florida Department of Revenue. Certificate of Registration No. 78-8016373916-1.
   4. Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
   5. You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.
   6. Terms and conditions apply. To qualify for this Earnest Rate Match Bonus offer: 1) you must submit a completed student loan application; 2) you must provide documentation of an eligible competitive rate offer exclusive of all discounts by calling Client Happiness at (888) 601-2801 or chat on Earnest.com and follow the instructions to send in your proof of lower rate; and 3) you must provide a valid email address during the application process. The bonus will be paid out in the form of a gift card. You will receive instructions on how to redeem the gift card via the email address you have provided. Limit one rate match bonus per application. A bonus cannot be issued to residents in MA.
   Bonuses that are not redeemed within 180 calendar days of the date they were made available to the recipient may be subject to forfeit. Bonus amounts of $600 or greater in a single calendar year may be reported to the Internal Revenue Service (IRS) as miscellaneous income to the recipient on Form 1099-MISC in the year received as required by applicable law. Recipient is responsible for any applicable federal, state or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences. Additional terms and conditions may apply. Earnest may discontinue this program at any time.
   7. Earnest’s Loan Cost Examples: These examples provide estimates based on principal and interest payments beginning immediately upon loan disbursement. Variable annual percentage rate (“APR”): A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% APR would result in a total estimated payment amount of $27,511.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.49% APR would result in a total estimated payment amount of $27,511.20.
   2.) These examples provide estimates based on interest only payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate (16.85% APR)  would result in a total estimated payment amount of $35,515.14. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $152.84) and a 16.85% interest rate (16.49% APR) would result in a total estimated payment amount of $35,515.14. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $140.42 for 57 months.
   3.) These examples provide estimates based on fixed $25 payments while in school. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $253.39) and a 16.85% interest rate (16.85% APR) would result in a total estimated payment amount of $47,035.20. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $253.39) and a 16.85% interest rate (16.49% APR) would result in a total estimated payment amount of $47,035.20. Your actual repayment terms may vary. Other repayment options are available. The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $25.00.
   4.) These examples provide estimates based on deferred payments. Variable interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $275.17) and a 16.85% interest rate (16.85% APR) would result in a total estimated payment amount of $49,530.60. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed interest rate: A $10,000 loan with a 15-year term (180 monthly payments of $275.17) and a 16.85% interest rate (16.49% APR) would result in a total estimated payment amount of $49,530.60. Your actual repayment terms may vary. Other repayment options are available. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.  The calculation assumes that the “in-school” period is 4 years (48 months) and includes our 9 month grace period, during which the monthly payment will be $0.
   8. Student Loan Manager is powered by Payitoff. Please visit https://www.payitoff.io/ for full terms and conditions.
   9. Earnest loans are serviced by Earnest Operations LLC, 535 Mission St., Suite 1663 San Francisco, CA 94105, NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). One American Bank, FinWise Bank, and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.