15 Best Student Loans For College Students

If you're a college student or a parent trying to fund a college education, student loans are often part of the equation. With rising tuition and living costs, knowing which lenders offer the best terms, rates, and perks can make a big difference. This guide breaks down 15 top student loan options for 2025, comparing private and federal options to help you choose the right fit.

1.     Federal Direct Subsidized Loans

Best for: Undergraduate students with financial need

Fixed APR: 5.50% (2025 rate)

Loan limit: $3,500–$5,500 per year (depending on year in school)

Benefits:

• No interest while in school
• Income-driven repayment available
• Loan forgiveness options

How to apply: Submit the FAFSA

This is usually the first loan to consider because the government covers interest while you're enrolled at least half-time.

2.     Federal Direct Unsubsidized Loans

Best for: Undergraduate and graduate students, regardless of financial need

Fixed APR: 5.50% (undergrad), 7.05% (grad)

Loan limit: $5,500–$20,500 annually

Perks:

• Not need-based
• Flexible repayment options
• Deferment and forbearance are available

How to apply: Submit the FAFSA

Interest accrues while you're in school, but terms are still more flexible than private loans.

3.     Federal Direct PLUS Loans

Best for: Graduate students or parents of undergrads

Fixed APR: 8.05% (2025 rate)

Loan limit: Up to the full cost of attendance

Features:

• Credit check required
• Can be consolidated
• Parent PLUS loans can be transferred via refinancing

Available after maxing out federal subsidized and unsubsidized loans.

4.     Sallie Mae Smart Option Student Loan

Best for: Students needing flexible repayment

APR: Variable: 5.37%–15.70%, Fixed: 4.50%–15.49%

Loan term: 5–15 years

Benefits:

• No origination fee or prepayment penalty
• Choice of three repayment plans
• Cosigner release available after 12 on-time payments

Sallie Mae is one of the most well-known private lenders, and it offers multi-year approval to returning borrowers.

5.     SoFi Private Student Loans

Best for: No fees and borrower perks

APR: Variable: 5.23%–13.00%, Fixed: 4.44%–13.83%

Loan amount: Up to 100% of school-certified cost

Perks:

• No fees
• Unemployment protection
• Free career coaching

SoFi is a solid option for students with good credit or a creditworthy cosigner.

6.     Discover Undergraduate Student Loans

Best for: Simple fee structure

APR: Variable: 5.49%–15.99%, Fixed: 4.49%–15.99%

Key points:

• No fees at all — no application, origination, or late fees
• 1% cash reward for good grades (3.0+ GPA)
• Offers deferment and in-school interest-only payment options

Discover offers a clean, transparent loan product with fewer surprises.

7.     College Ave Student Loans

Best for: Flexible terms and repayment choices

APR: Variable: 5.59%–15.99%, Fixed: 4.49%–15.99%

Features:

• Choose term length (5 to 15 years)
• Four in-school repayment options
• Cosigner release after 24 on-time payments

College Ave is ideal for students who want to customize their monthly payments.

8.     Earnest Private Student Loans

Best for: Custom repayment terms and no fees

APR: Variable: 5.39%–16.20%, Fixed: 4.45%–15.90%

Highlights:

• No origination or late fees
• 9-month grace period
• Biweekly payments available

Earnest lets you pick your payment amount and term down to the month.

9.     Citizens Bank Student Loans

Best for: Multi-year approval and loyalty discount

APR: Variable: 5.74%–13.13%, Fixed: 5.24%–12.86%

Details:

• 0.25% loyalty discount if you have a Citizens account
• Multi-year approval for returning students
• Cosigner release after 36 on-time payments

A strong choice for families who already bank with Citizens.

10.                        Ascent Student Loans

Best for: Non-cosigned options

APR: Variable: 6.14%–16.20%, Fixed: 4.83%–15.66%

Unique feature: Outcomes-based loans available without a cosigner (for juniors/seniors)

Incentives:

• 1% cashback at graduation
• Financial wellness tools

Ideal for students without access to a creditworthy cosigner.

11.                        PNC Solution Loan

Best for: Students who want a local banking experience

APR: Variable: 5.74%–15.24%, Fixed: 4.99%–13.74%

Benefits:

• Cosigner release after 48 payments
• Prequalification available without impacting credit
• Option to apply directly with a parent

Good for students attending regional schools in the Northeast and Midwest.

12.                        MEFA Student Loans (Massachusetts)

Best for: Massachusetts residents or students attending school in-state

APR: Fixed only: 5.95%–6.75%

Loan terms: 10 or 15 years

No fees and offers reasonable rates if you live or attend school in Massachusetts.

MEFA is a nonprofit lender, so rates and terms are straightforward with fewer markups.

13.                        A.M. Money

Best for: Need-based lending without a cosigner

Fixed APR: 7.53%–8.59%

Unique features:

• No credit check
• No cosigner required
• Focuses on income and academic progress

Ideal for students with low credit or no credit history who maintain good academic standing.

14.                        Rhode Island Student Loan Authority (RISLA)

Best for: Fixed-rate stability and income-based repayment

Fixed APR: 5.99%–7.74%

Loan types: Undergraduate and parent loans

Other benefits:

• Income-based repayment option
• Forgiveness for eligible healthcare workers

Open to students nationwide, though Rhode Island residents may get the best terms.

15.                        Funding U

Best for: Students without a cosigner and a strong GPA

Fixed APR: 7.49%–12.99%

Highlights:

• No cosigner needed
• Eligibility based on GPA, major, and progress toward degree
• Loan amounts grow each year with academic progress

Geared toward students who are succeeding academically but lack a credit history or a cosigner.

How To Choose The Right Student Loan?

When comparing student loans, consider the following:

• Start with federal options. They offer better protection, lower rates, and flexible repayment.
• Check for fees. Many private loans charge origination or late fees — others don't.
• Compare APR ranges. Rates can vary widely based on credit and cosigner strength.
• Look for cosigner release. If you need a cosigner now, choose lenders that allow you to remove them later.
• Use prequalification tools. Some lenders let you see rates without affecting your credit.

Conclusion: Ready To Apply?

Before applying, review your options carefully. Start with federal loans, as they usually offer lower rates and flexible repayment terms. Once those are maximized, compare private lenders like SoFi, College Ave, and Discover to find the best deal for your credit and income.

Check for perks such as cosigner release, no fees, or cash rewards. Use prequalification tools to estimate your rate without affecting your credit. Borrow only what you need, and read loan terms closely before signing. Taking time now to choose the right loan can save thousands over the life of your repayment.