Education
Best Student Loans for Undergraduates
Private loans should fill the gap after federal aid, not replace it. Once you have maxed federal loans, these are the private lenders we rank highest for undergraduate borrowing.
Top matches
Lanternfield Student Loan
- ✓Covers undergraduate and graduate programs with one application
- ✓Four repayment options, including full deferral while enrolled
- ✓Cosigner release after 12 on-time payments
- ✓No origination, application, or late fees
- ✗Lowest advertised rates require a strong cosigner
Ashgrove Undergraduate Loan
- ✓No-cosigner approval path based on school, major, and GPA
- ✓Fixed rates starting at 4.49% with autopay
- ✓No origination fee and no prepayment penalty
- ✓Six-month grace period after graduation
- ✗No-cosigner rates run higher than cosigned rates
How we ranked these: We ranked every undergraduate-tagged lender in our database by our overall methodology score, which weighs rates and fees, approachability, and repayment flexibility.
Last updated June 2026
Questions, answered
Should I take federal loans before a private loan?
Almost always yes. Federal loans come with income-driven repayment, deferment options, and potential forgiveness that no private lender matches. Private loans only make sense for the gap that remains after grants, scholarships, and federal loan limits.
Do I need a cosigner for an undergraduate loan?
Most undergraduates do, since lenders want income and credit history that students rarely have. A cosigner usually unlocks better rates. A few lenders offer no-cosigner approval based on academics and major, at somewhat higher rates.
Fixed or variable rate for a student loan?
Fixed, for most borrowers. A student loan is a long commitment, and a variable rate that looks cheaper today can climb well past the fixed offer over a decade of repayment. Variable only makes sense if you plan to pay the loan off fast.
How much should I borrow in total?
Keep total student debt below your expected first-year salary. Borrow for tuition and required costs, not lifestyle. And remember: every dollar borrowed costs roughly $1.30 to $1.70 by the time you finish repaying it.