August 7, 2020

7 Best Private Student Loans • Apply Today • Benzinga

7 Best Private Student Loans • Apply Today • Benzinga

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Considering multiple options for your student loans? Private student loans could be a great option for you. These loans are offered by private organizations such as banks, credit unions and online lenders. Here’s our guide to the best private student loans, or more specifically, the best private student loan lenders. 

Best Lenders for Private Student Loans

Some of the best private student loans can come from traditional banks, credit unions and even online lenders. Keep reading to know more about these lenders and compare which  APRs, fees and credit eligibility work best for you.  


Fixed 3.52% to 12.99%Variable 1.24% to 13.01%

Minimum Credit Score

540 to 660, minimum varies by lender

1. Best for Additional Repayment Guidance: Student Loan Hero

Student Loan Hero by LendingTree is an unbiased platform designed to help you organize, manage and repay your debt. It understands that every student is in a different financial situation and its goal is to help you understand your loans and make smart repayment decisions. 

Student Loan Hero can also help you sync both your already-existing private and federal student loans in 1 centralized location, provide an in-depth student loan summary and financial analysis and help you plan your repayment on both federal and private loans in a way that best fits your financial situation. 

Student Loan Hero compiles various online private student loan providers and various terms, rates and eligibility requirements and allows you to compare these qualifications on its user-friendly online platform.  


Fixed As low as 3.62%Variable As low as 1.24%

2. Best Customer Service: Credible

Credible knows that private student loans are a great help for paying for school after you hit your limit for federal loans. 

Loan options shown through Credible’s platform offer flexible repayment plans to fit your needs. Filling out documentation is straightforward because you won’t have to fill out duplicate forms. To make the process even easier, Credible’s services are completely fee-free, just like the loans it pairs you with. Loans found through Credible have no origination fees, service fees or prepayment penalties. 

Lastly, Credible knows the value of great customer service, which is why it provides 3-way phone support that connects you directly with lenders to answer any questions you have throughout the loan process.

Loan Amounts

$5,000 – $300,000

Terms Offered

5 – 20 years

3. Best for Finding Various Lenders: LendKey

LendKey focuses on transforming the $3.6 trillion consumer lending market by helping the country’s 13,000+ community financial institutions provide online lending services. Its innovative data technology matches you with banks and credit unions to create the most accessible and affordable online borrowing options. By letting you borrow directly from trusted local and nonprofit lenders, LendKey gives you opportunities for transparent, low-interest lending. 

LendKey’s application process for private student loans is streamlined and simple. Its partners offer competitive interest rates and it prioritizes customer service throughout the entire lending process. Through LendKey, you and its lenders have the advantage of automating most of the loan process so you’re ready for the upcoming school year.