Monday, October 2nd
2023 Student Loan Provider Reviews
Ascent
- Loans for undergraduate and graduate programs
- Options for loans with or without a cosigner
- No application fees, origination fees, or prepayment penalties
- Competitive rates on both variable interest loans and fixed interest loans
- Loan repayment terms of 5, 7, 10, 12, 15 and 20 years
- Start repayments up to 9 months after graduation
- Interest rate discounts with automatic payments
- Deferment and forbearance options available
- Cosigner release available after 24 months of on-time payments
- "Bootcamp" loans available for accelerated learning programs
- 1% cash back graduation reward for eligible borrowers
- "A+" rated by the BBB
Ascent is an excellent choice for every type of student loan: there are options for loans with or without cosigners for all levels of study, from undergraduate programs to medical school and more. Their rates and terms are the most flexible in the industry, and Ascent offers some borrower-friendly perks like rate discounts for automatic repayments and a cash-back graduation bonus. This award-winning provider of student loans should be the first one you consider.
Discover Student Loans
- "A+" rated and accredited with the BBB
- Competitive rates on both fixed-rate and variable-rate loan offers
- Loans available for all degree-seeking levels of study, including associate's programs
- Can be enrolled half-time and still be eligible for a student loan
- 15-year term on all loans
- Minimum loan amount: $1,000
- Rewards for good grades
Who knew a credit card company would be one of the best choices for student loans? Discover makes funding an education possible for more people than most lenders: associate's degree-seeking students are welcome here, the required enrollment is only half-time or more, and even 16-year-olds can apply. And, just like their credit cards, you've got opportunities for cash back rewards on your loan. Be aware that their interest rates tend to be higher, and only 15-year repayment terms are offered. In all other aspects, however, Discover's student loans are absolutely worth your consideration.
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Where Can You Find the Best Student Loans?
With 45% of high school graduates finding it necessary to take on student debt to finance their higher learning, that's an important question to answer. While most student loan debt comes from federal loans, some people discover that their government loans just aren't enough to cover the full costs of tuition, room and board, expensive textbooks, and everything else necessary for their college education.
If you find yourself in that situation - for your studies or your children's - you might get overwhelmed trying to figure out where the money will come from. And even once you've selected a lender, you still need to decide what repayment terms are best. Fixed- or variable-rate? Interest-only or small fixed repayments while still in school or fully deferred for 6-9 months after graduation? Repaying over five years or twenty? There are a lot of factors to consider that are unique to you.
Student Loan Provider FAQ
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Fortunately, there are quite a few providers of student loans that can help you not only figure out those answers but also connect you with the money you need to pay for school. Many of them can even prequalify you for a loan with just your name, address and birthdate, with no impact on your credit report. Rest assured that millions of students (and many of their parents) have successfully navigated this process - and you can too.
Here are several aspects of student loan providers to keep in mind as you decide which ones merit further consideration:
- Referral service or direct lender: Some sites serve as a comparison shopping platform, allowing you to get preliminary information about what loans might be available to you. These referral services may or may not use your information to complete some of the first steps of the application process. Other student loan sites directly connect you with the funding you need.
- Interest rates. Don't be overly impressed by the super-low interest rates posted by any student loan provider: they almost always come with the caveat that only the "most qualified" candidates qualify for the best rates (and we've yet to find anyone that actually got a loan with rates that low). Just make sure that the rate you're offered is reasonable and competitive with other loans.
- Repayment options. There are so many different ways to configure a student loan, like repayment terms ranging from 5-20 years, fixed and variable rates, and repayments either while still in school or deferred until after graduation. The more choices available to you, the more likely it is that you'll get loan terms you can afford.
- Loan servicing. Getting a student loan is just the beginning. Take into account what other students have said about the experience after the application has been approved. Are funds disbursed quickly? Does the customer service team handle issues well? Can you expect any unpleasant surprises (like payments not being recorded accurately or not being able to reach support)?
To help you get the funds you need for your education, TopConsumerReviews.com has evaluated and ranked the best options for student loans today. We're confident that this information will make it possible to find the right way to cover the costs of your tuition, books and more!
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