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Almost anyone can apply for private student loans, regardless of financial status or academic performance. However, each lender has different requirements, so it's important to compare your choices carefully. 

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Is Edly the right fit for your student loan needs? Our experts have done the legwork, so you don't have to. Check out our in-depth review of Edly's private student loan offerings.

Edly: private student loans review

I have DACA or Asylee status. Am I eligible for an Earnest loan?

Will Earnest penalize borrowers for early loan repayment?

Can international students apply for a loan with Earnest?

Here are some of the most common questions we get asked about Earnest.

Frequently asked questions

Edly PSL Review

Explore our comprehensive Earnest private student loan review, where we examine interest rates, repayment options, eligibility criteria, and additional benefits. 

Earnest: private student loans review

Earnest PSL Review

Trust Sallie Mae to be your partner in education. Their diverse loan options and helpful resources make financing college a seamless process.

[Draft] Sallie Mae PSL

We did the time-consuming research so you don’t have to! Our editors then condensed and organized that research into this simple review to make your student loan decision easy.

Ascent: private student loans review

What is an outcomes-based loan?

Are graduate students eligible for larger loan amounts?

What are the specific financial benefits for borrowers?

Let's dive into a few additional queries you might have about Ascent Funding. Here are some FAQs to supplement the information provided earlier.

Frequently Asked Questions

Ascent PSL Review

The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments.

If the borrower meets the criteria, including that half of the original repayment term must have elapsed, they can submit an application requesting to remove their cosigner from the loan.

While not required, if you don't have enough credit history or income (many undergraduates don't), you will likely need to apply with a cosigner to be approved for a CollegeAve student loan.

Apply in as little as 3 minutes and get an instant credit decision

6 months for undergraduate loans and 9 months for most graduate loans.

The minimum amount you can borrow is $1,000. The maximum loan amount is the total cost of attendance, as certified by your school and less any other financial aid you might receive. 

The maximum loan amount is the total cost of attendance, as certified by your school and less any other financial aid you might receive. 

The minimum amount that you can borrow is $1,000.

College Ave

Get a 0.25 percentage point interest rate reduction when you pay by auto debit from your bank account.

You can apply to release your cosigner after you graduate or complete your certificate, make 12 on-time principal and interest payments, and meet certain credit requirements*

Consider adding a cosigner: Last year, student were nearly 3X more likely to be approved with a cosigner⁵

It takes about 10 minutes to apply and get a credit decision.

Loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Sallie Mae reserves the right to approve a lower loan amount than the school-certified amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time.

Covers up to 100% of school-certified expenses

Sallie Mae applications are subject to a requested minimum loan amount of $1,000

Sallie Mae

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.

Earnest does not currently offer the option to release a cosigner from the loan; however, they do offer a refinance product that can be used to refinance student loans into the student’s own name without a cosigner upon graduation and subject to eligibility requirements.

Applying with a cosigner who has good credit may increase the probability of getting approved and may lower the cost of your loan.

Skip a payment once per year (once repayment period restarted)**

Finish your application in about 15 minutes

9 month grace period (3 months more than most lenders)***

Loans start at $1,000 (unless specified by the state of residence) and can be up to your entire cost of attendance for the academic year, on approved credit.

Covers up to 100% of the school's certified cost of attendance.

Earnest private student loans start at $1,000 (unless specified by the state of residence).

You can check your rates in 2 minutes with Earnest.

Earnest

You can get a 0.25% interest rate reduction when you sign up to make automated payments from your checking or savings account.

Yes, if the primary applicant was the age of majority in their state* when they took out the loan. Upon 24 months of full principal and interest payments, the student may apply to remove the co-signer.

*The age of majority is 18 in all states except for Alabama, Nebraska (19), and Mississippi (21).

If you are working full-time and at least a half-time student, you may qualify without a co-signer. SoFi will underwrite your loan application based on YOUR credit, income, and academic status.

If you are NOT earning sufficient wages, or do not have enough credit history to qualify on your own, a co-signer may be required. SoFi will underwrite your loan based on your CO-SIGNER'S credit and income, and YOUR academic status.

Apply and get a credit decision in 3 minutes.

Loans start at $1,000 and can cover up to 100% of school-certified costs, which typically includes things like tuition, room and board, and other education expenses.

Borrow up to 100% of school-certified costs, which typically includes things like tuition and food, books, supplies, room and board, and other education expenses.

The minimum you can borrow with SoFi is $1,000.

SoFi

Sign up for automatic payments and lower your interest rate by 0.25%

Discover originated loans do not provide an option for cosigner release. Cosigners are responsible for the life of the loan.

Even if the student qualifies for a private student loan on their own, applying with a creditworthy cosigner may improve the likelihood for loan approval and the student may receive a lower interest rate.

6 months for undergraduate students and 9 months for graduate students

For undergraduate and graduate student loans and parent loans, you can borrow up to 100% of the school-certified cost of attendance (including tuition, housing, books and more) minus other financial aid. Aggregate loan limits apply. The minimum amount is $1,000 for each loan.

Borrow up to 100% of school-certified costs, including tuition, housing, books and more. Aggregate loan limits apply.

The minimum amount is $1,000 for each loan.

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Borrowers can get either a 0.25% (for credit-based loans) or 1.00% (for Undergraduate outcomes-based loans) interest rate reduction if payments are made by automatic payment. 

After graduating, you may be eligible for 1% of your loan back as a cash reward

Tell your friends about Ascent, and you could earn up to $525 as a referral bonus

After making 12 consecutive, regularly scheduled, full principal and interest payments on time while also meeting the other eligibility criteria to qualify.

Every student’s situation is different, so if you can’t qualify for a loan in your own name, a cosigner can help.

9 months grace period after school. Thatnulls three more than most private lenders give you!

Students looking for flexible repayment terms and additional funding benefits

Not all borrowers can access non-cosigned options
Some loan options come with high APRs
Parent student loans aren't offered
No loan pre-qualification tool

In the unfortunate event of death or total and permanent disability, the loan is forgiven

You can apply to pause payments during times of financial difficulty for a cumulative maximum of 24 months

No need to start making payments until 9 months after graduation

Apply to temporary delay payments while taking classes so that you can focus on your education

Only make interest payments until after you graduate and your grace period ends

The minimum loan amount is $2,001, except for the state of Massachusetts. The minimum loan amount for borrowers with a Massachusetts permanent address is $6,001. The maximum loan amount is $200,000 for credit-based loans and $20,000 for outcomes-based loans ($200,000 aggregate total for all loans). 

Once your loan has been disbursed, loan accounts are handled by the third-party loan servicer, Launch Servicing.

Maximum loan amount for academic year:
 - $20,000 for undergraduate non-cosigned, outcome-based loans
 - $200,000 for credit-based loans
 - $200,000 aggregate total for undergraduate loans
 - $400,000 aggregate total for graduate loans

If you are serving on active duty, you can apply to delay payments for up to 36 months cumulative

You must be at least 18 years or the age of majority in your state of residence

You must be a college junior or senior enrolled full-time or half-time within 9-months of graduation in a degree program

The minimum loan amount is $2,001, except for the state of Massachusetts. The minimum loan amount for borrowers with a Massachusetts permanent address is $6,001. 

DACA and international student options available
Forbearance options for up to 24 months (cumulative)
No cosigner required
Higher-than-average autopay discount

You only need make a small $25 monthly payment until your grace period ends

Meet your school’s Satisfactory Academic Performance (SAP) with a 3.0+ GPA or greater

Borrowers must attend an eligible, degree-granting school, but can be enrolled in a non-degree program (like a certificate program

Available to borrowers in all 50 states and Washington, D.C.

Ascent

While not required, if you don't have enough credit history or income (most undergraduates don't), you will likely need to apply with a cosigner to be approved.

Receive $200 statement credit when you open a Candidly account and link this loan¹

Earn cash back rewards from merchants that are applied directly to the student loan

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Key takeaways