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      November 25, 2020

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  1. College Ave
  2. Credible
  3. iHelp
  4. LendingTree
  5. Discover
  6. Sallie Mae
  7. Wells Fargo

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Best Student Loans Better Business Bureau Reliability Seal

Apply for Your Student Loan at SunTrust Today As the costs of higher education rise, so does the need for student loans. While some individuals are eligible for federal loans, those loans don't always cover the full cost of getting an education - not just tuition and room/board, but books, laptops, transportation and other expenses. And, people who are ineligible for federal loans don't necessarily have overflowing savings accounts to match their college or university costs.

Private student loans are the way that many students close that gap. On average, students have nearly $40,000 in student loan debt at the time of graduation; without those funds, their aspirations of being a teacher, engineer, or social worker may have been put on hold indefinitely.

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Best Reviews


2020

Student Loan Reviews

5 stars
SunTrust

SUNTRUSTTopConsumerReviews.com Best-In-Class Blue Ribbon Award

Although they may not have the same immediate name recognition as some other lenders, SunTrust has an established history in the financial market, particularly with student loans and mortgages. Their two primary student loan products, Custom Choice and Graduate Business School, offer competitive rates and a helpful 1% reduction of your principal as a reward for graduating. SunTrust is our top choice for student loans.

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4.5 stars
College Ave

COLLEGE AVE

College Ave has a great reputation in the student loans market: an "A" rating with the Better Business Bureau, positive customer reviews, and good attention to customer service. Students will appreciate their low interest rates, three-minute application process, and several options for configuring their loan to meet their needs. We highly recommend College Ave for your student loan.

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4 stars
Credible

CREDIBLE

Credible is a service that connects you with up to 8 different providers of student loans, all with a single online application. They make sure that all of their lending partners are fully vetted, and that none of them charge any application/origination fees or prepayment penalties. Credible is free to use, and users give it plenty of praise for being simple and convenient. However, you may still have to jump through some extra hoops if you aren't prequalified by one of their partner lenders, and our highest-ranked source of student loans isn't included in their list of student loan providers.

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4 stars
iHelp

I HELP

iHelp uses a wide network of community banks to provide student loans, all serviced by the Student Loan Finance Corporation . While the only available loans are variable-rate products, iHelp has several perks that make them worth considering, particularly the ability to have repayments deferred or forgiven under certain circumstances.

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3.5 stars
LendingTree

LENDINGTREE

LendingTree helps you find the right student loan by providing you with multiple offers from a variety of lenders - including most of those we reviewed. They also provide a number of easy-to-understand resources, such as articles and videos, to give you the information you need to make a smart decision regarding your student loan.

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3.5 stars
Discover Student Loans

DISCOVER STUDENT LOANS

Short Among its many financial services, Discover Bank adds student loans to its portfolio. As the first company to offer a cashback bonus on its credit cards, it's no surprise that they offer similar innovative perks with their student loans. Potential borrowers should know that Discover has a less-than-perfect history when it comes to their lending practices and be sure to read the fine print before signing on the dotted line for a student loan.

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2.5 stars
Sallie Mae

SALLIE MAE

No other lender we reviewed can compete with SallieMae's history: more than 34 million Americans helped with college costs since 1972. Interest rates are very competitive, and cosigners can apply to be released after just 12 months of on-time payments, compared with multiple-year requirements of other lenders. On the other hand, hundreds of unhappy borrower reviews describing rude representatives, errors with SallieMae's bookkeeping, and other problems may make it not worth the hassle to apply for your student loan there.

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2 stars
Wells Fargo

WELLS FARGO

Wells Fargo is well-known for its many financial products, from mortgages to investments and more. Their student loans website is easy to use, and they have several ways to lower your interest rates through any other relationships you may already have, such as a checking account or previous loan through Wells Fargo. However, numerous customer reviews describe problems on Wells Fargo's end with accuracy in recording student loan repayments and unhelpful representatives.

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Continued from above

Fortunately, there are many lenders who want to make it as affordable and simple as possible to complete undergraduate and graduate-level studies. Some represent well-known, established financial institutions, while others work directly with networks of community banks to get much-needed cash into the hands of eager learners.

Comparing offers from lenders can be as easy as going online; in a matter of minutes and mouse clicks, you can see a variety of interest rates, repayment terms, and other details of each program for which you are eligible. This saves you significant time compared with going hat in hand to your local bank or other lending institution, hoping that they will say yes to your loan application.

When deciding on which lender to use for your student loan, you should consider the following factors:

  • Interest rates. The higher your interest rates, the more you pay over the life of the loan. Does the lender have rates that are competitive? Does the lender offer you the choice between fixed and variable rates?
  • Loan terms. What is the repayment term? Does it give you enough time to get a good job and pay it back? Can you pay it off in advance with no penalty?
  • Discounts. Can you get your interest rates lowered by setting up automatic payments from your checking account? Will you get any perks for having a relationship with the lender in other ways, such as a checking account or credit card?
  • Reputation. Some lenders have a solid history of working with borrowers, while others have a not-so-great track record when it comes to customer service after the loan has been disbursed. How does this lender measure up?

TopConsumerReviews.com has reviewed and ranked the best Student Loan providers available today. We hope this information helps you to get the money you need for your studies right away!

What The Secure Act 2.0 Would Mean For Student Loans

But one piece of legislation - the Securing a Strong Retirement Act of 2020 (Secure Act 2.0) - has a chance to gain bipartisan support. The Secure Act 2.0 includes an array of changes meant to help ...

Published:  Mon, 23 Nov 2020 07:20:00 GMT



Why Federal Student Loan Exit Counseling Matters

When it's time to begin repaying your federal student loans, you'll take a short course on how to prepare for and start making monthly payments called student loan exit counseling. It's a 20- to 30-mi ...

Published:  Mon, 23 Nov 2020 09:06:00 GMT



5 student loan refinancing mistakes to avoid

Borrowers can visit Credible to compare student loan refinancing rates from multiple lenders simultaneously. "There are multiple scenarios in which refinancing a student loan makes sense, but there ...

Published:  Mon, 23 Nov 2020 06:30:00 GMT



From extended jobless benefits to student loan reprieve, COVID-19 relief set to fade at year's end

COVID-19 federal relief programs are set to expire at year's end if Congress and President Trump don't renew them. Jobless aid and an eviction ban are among the provisions going away.

Published:  Mon, 23 Nov 2020 09:01:00 GMT



What student loan borrowers need to know about the Navient lawsuits

Navient is one of the largest student loan servicers in the country, with millions of borrowers using it to repay their federal and private student loans. However, a few lawsuits allege harmful and ...

Published:  Mon, 23 Nov 2020 15:09:40 GMT



Looming end to student loan payment moratorium raises fears among defaulted borrowers

The federal government is poised to resume garnishing the wages of hundreds of thousands of people in default on their federal student loans, in the middle of a pandemic that has thrown already ...

Published:  Mon, 23 Nov 2020 10:41:01 GMT



Canceling student loan debt would be ineffective at boosting US economy, study shows

President-elect Joe Biden is facing growing pressure to erase student loan debt on his first day in office as part of a broader coronavirus relief effort - but doing so may be an ineffective way to ...

Published:  Mon, 23 Nov 2020 07:37:00 GMT



Student debt crisis: Examining the cost of parent plus loans

NBC News NOW collaborated with educational nonprofit The Hechinger Report to take an in-depth look at why the default estimates for parent plus loans are so high and how they are impacting the ...

Published:  Mon, 23 Nov 2020 18:47:00 GMT



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