12 Best Personal Loans For Students: Top Options Compared
Financial aid doesn't always cover everything students need. From apartment deposits to textbooks to car repairs you didn't see coming, the costs add up fast.
While personal loans may help students cover expenses like moving costs or consolidating debt, private student loans are specifically designed for tuition and other education-related costs.
Below are several personal loans and private student loans that students may consider, depending on their needs and eligibility.
MoneyLion offers a service to help you find personal loan offers. Based on the information you provide, you can get matched with offers for up to $100,000 from our top providers. You can compare rates, terms, and fees from different lenders and choose the best offer for you.
Best Personal Loans for Students: Top Picks at a Glance
Here’s a breakdown of each lender and what they offer:
Lender | Type of Loan | Annual percentage rate (APR) | Accepts Co-Signer? | Loan Amounts | Fees |
|---|---|---|---|---|---|
SoFi® | Personal loan | 7.74% to 35.49%* | No — offers co-borrowers only | $5,000 to $100,000 | None |
Personal loan | 7.74% to 35.49% | No — offers co-borrowers only | $1,000 to $50,000 | Origination and late fees | |
Personal loan | 6.20% to 35.99% | No | $1,000 to $75,000 | Origination fee | |
Personal loan | 9.95% to 35.99% | N/A | $2,000 to $35,000 | Administration and late fees | |
Personal loan | 6.53% to 35.99% | No — offers co-borrowers only | Up to $60,000 | Origination fee | |
Personal loan | 11.99% to 35.99% | N/A | $1,500 to $30,000 | Origination, late and NSF fee | |
Personal loan | 7.99% to 24.99% | N/A | $2,500 to $40,000 | None | |
Personal loan | 6.49% to 24.89% | No, co-applicants only | $5,000 to $100,000 | None | |
Earnest | Private student loan | -Starts at 2.84% if co-signed -Starts at 4.49% if independent | Yes | Up to 100% cost of attendance | None |
Ascent | Private student loan | Fixed APR starting at 2.69% | Yes | $2,000 minimum up to $200,000 | None |
Sallie Mae | Private student loan | -Fixed APR: 2.89% to 17.64% -Variable APR: 3.75% to 16.37% | Yes | $1,000 minimum | Late fees |
College Ave | Private student loan | -Fixed APR: 2.84% to 17.99% -Variable APR: 3.89% to 17.99% | Yes | Up to 100% of school-certified cost of attendance | No origination fees |
*Fixed rates from 8.74% APR to 35.49% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or, Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 11/03/25 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
SoFi
Best for: Borrowers with strong credit
SoFi’s personal loan application is fully online, and borrowers can check their rate without affecting their credit score1. The lender is known for competitive rates and loans that don’t charge origination or prepayment fees.
For students or recent graduates with strong credit, this can make it easier to compare loan options and borrow without adding extra costs to the balance.
Top Features of SoFi Loans
Fully online application with soft credit prequalification
Competitive rates and strong customer reviews
Higher minimum loan amounts
Pros and Cons of SoFi
Pros | Cons |
|---|---|
Competitive rates for borrowers with strong credit | Approval typically requires good-to-excellent credit |
No origination or prepayment fees | Requires higher minimum loan amount than other lenders |
Upgrade
Best for: Consolidating debt
Upgrade offers fast-funding personal loans from $1,000 to $50,000. It allows borrowers to check their rate without affecting their credit score, so you can check if you qualify for a loan even with poor credit.
Upgrade personal loans are commonly used for debt consolidation, which can help students combine credit card or other personal loan balances into a single fixed monthly payment.
Top Features of Upgrade Loans
Soft credit check for prequalification
Commonly used to combine multiple debts into one payment
Can't use loans for post-secondary expenses
Pros and Cons of Upgrade
Pros | Cons |
|---|---|
Flexible amounts and repayment terms | Origination fees may apply |
Prequalification with a soft credit check | Loans can’t be used for post-secondary expenses — room, board or transportation |
Upstart
Best for: Borrowers with limited credit history
Upstart operates as a lending platform that connects borrowers with partner lenders. Instead of relying solely on credit scores, the platform may offer a wide range of options depending on the applicant’s qualifications.
With a 4.9-star Trustpilot rating from tens of thousands of reviews, Upstart can be worth exploring for students who have limited credit history but steady income or strong academic backgrounds.
Top Features of Upstart Loans
Approval is based on more than just your credit scores.
Lender helps borrowers with thin credit files.
There are a wide range of partner lender options.
Pros and Cons of Upstart
Pros | Cons |
|---|---|
Considers education and employment history | Origination fees may apply |
Borrowers with limited credit may still qualify | Loan terms vary depending on the lender |
Avant
Best for: Borrowers with fair credit
Avant works with borrowers who have fair credit, which may be appealing to most students who don’t have a credit history built up.
If you’re seeking quick funding for an unexpected expense, Avant is worth a look because funds may be deposited as soon as the next business day after approval.
Top Features of Avant Loans
Fast funding — as soon as next business day
Higher interest rates compared to prime lenders
Possible administrative fees
Pros and Cons of Avant
Pros | Cons |
|---|---|
Accepts borrowers with fair credit | Interest rates can be higher than some competitors |
Fast funding after approval | Administrative fees may apply |
LendingClub
Best for: Larger loan amounts
LendingClub offers personal loans of up to $60,000 with fixed interest rates and repayment terms. Borrowers can apply online and, once approved, funding may arrive in as little as 24 hours.
For students who need access to a larger loan amount or want predictable monthly payments while covering expenses like housing or moving costs, LendingClub can provide an appealing option.
Top Features of LendingClub Loans
Fixed rates and predictable payments
Funding as fast as 24 hours after approval
Potential origination fees
Pros and Cons of LendingClub
Pros | Cons |
|---|---|
Higher borrowing limits available | Origination fees may apply |
Longer repayment terms than many lenders | Income requirements may affect eligibility |
OneMain Financial
Best for: Borrowers with limited credit
OneMain Financial can offer students personal loans from $1,500 to $30,000. Applicants can check if they’re prequalified for loan offers without affecting their credit score and may receive a decision quickly after applying.
In some cases, funds may be available the same day the loan closes, which may help borrowers who need money quickly for unexpected expenses.
Top Features of OneMain Financial Loans
Secured and unsecured loans offered
Same-day funding possible
Higher rates and fees may apply
Pros and Cons of OneMain Financial
Pros | Cons |
|---|---|
May approve borrowers with fair or limited credit | Interest rates can be higher than many online lenders |
Offers secured and unsecured loan options | Origination and other fees may apply |
Discover
Best for: No fees
Discover offers personal loans from $2,500 to $40,000 with fixed interest rates, so students can expect predictable payment terms as they pay off their loans even beyond graduation.
The lender charges no origination, prepayment or late fees, which can be appealing to students who are new to borrowing.
Top Features of Discover Personal Loans
Fixed rates and predictable payments
Soft credit check
Need good credit for approval
Pros and Cons of Discover
Pros | Cons |
|---|---|
No origination fees | Approval typically requires good credit |
Lower APRs than many lenders | Maximum loan amount is lower than some competitors |
LightStream
Best for: High loan limits
LightStream may appeal to students or recent graduates with strong credit who need a larger loan. The lender offers between $5,000 and $100,000 with no origination, prepayment or late fees.
Funding can arrive as soon as the same day, which may help students cover time-sensitive expenses like housing or moving costs.
Top Features of LightStream Loans
No fees
Same-day funding available
Typically requires good-to-excellent credit
Pros and Cons of LightStream
Pros | Cons |
|---|---|
No origination or prepayment fees | Good to excellent credit typically required |
High loan limits available | Higher minimum loan amount |
Earnest
Best for: Flexible student loan terms
With Earnest private student loans, students are eligible for loan terms ranging 5 to 15 years, which is more flexible than many competitors. The lender also offers a 9-month grace period after graduation, three months longer than the industry standard.
Earnest allows borrowers to check eligibility without affecting their credit score. Students who apply with a co-signer may qualify for lower rates.
Top Features of Earnest Loans
Grace period for after graduation
Loan terms ranging from five to 15 years
Co-signer may lower rates
Pros and Cons of Earnest
Pros | Cons |
|---|---|
No origination or prepayment fees | Typically requires good credit for approval |
Option to skip one payment per year | Lower rates require autopay enrollment |
Ascent
Best for: Students without a co-signer
Ascent provides private student loans for undergraduate, graduate and career training programs. Loans can cover up to the full cost of attendance, including tuition, housing and other school-related expenses.
Ascent stands out for offering some loan options that allow qualified students to apply without a co-signer, which can help borrowers who do not have someone able to co-sign their loan.
Top Features of Ascent Loans
There are loans for undergraduate, graduate and career-training programs.
You can apply without a co-signer.
Loans cover the full cost of attendance, including tuition, housing and other school-related expenses.
Pros and Cons of Ascent
Pros | Cons |
|---|---|
Some loans available without a co-signer | Some loans may require a co-signer for students who do not meet the lender’s requirements |
Access to career and financial support resources | Variable rates can increase over time |
Sallie Mae
Best for: Covering full cost of education
Sallie Mae is one of the largest private student loan providers in the U.S. Its student loans allow borrowers to cover up to 100% of school-certified education costs, including tuition, housing and textbooks.
Borrowers can choose between fixed and variable interest rates and several repayment options.
Top Features of Sallie Mae Loans
Covers 100% of school-certified costs
Multiple repayment options available
Autopay discount available
Pros and Cons of Sallie Mae
Pros | Cons |
|---|---|
Loans can cover the full cost of attendance | Many borrowers require a co-signer |
Multiple repayment options available | Private loans do not offer federal protections |
College Ave
Best for: Flexible repayment options
College Ave offers private student loans that can cover up to 100% of a school’s cost of attendance.
Borrowers can choose between fixed and variable interest rates and several repayment plans, including options that allow payments to be deferred while in school.
Top Features of College Ave Loans
Can cover 100% of a school’s cost of attendance.
The payments can be deferred while in school.
You can choose from fixed or variable interest rates.
Pros and Cons of College Ave
Pros | Cons |
|---|---|
Flexible repayment options, including deferred payments while in school | Most students will need a co-signer to qualify |
Borrow up to 100% of school-certified education costs | Private loans do not include federal borrower protections |
Personal Loans vs. Student Loans: Which To Pick?
Understanding the differences can help you decide which option is right for you:
Choose a Personal Loan If:
You have non-education-related expenses.
Your credit is good and you can qualify for a competitive rate.
You need quick funding.
Choose a Student Loan If:
You plan to pay tuition or education-related expenses.
You want a lower interest rate.
You may need access to a forgiveness program.
Final Takeaways
Students have several borrowing options depending on their credit profile and financial needs.
While private student loans are designed specifically for education costs, personal loans may offer more flexibility for expenses like housing or moving.
Before borrowing, compare offers from multiple lenders and review the total cost of the loan, including interest rates, fees and repayment terms.
Personal Loans for Students FAQs
Still have questions about personal loans for students? Here are answers to some of the most common ones:
What credit score do you need for a student loan?
Federal student loans generally don’t require a credit score. Private student loans and personal loans usually involve a credit check, and credit score requirements vary. Lenders may consider factors like your credit history, income or whether you apply with a co-signer.
Can college students get a personal loan without income?
It can be difficult, as lenders typically want to see that you can repay what you borrow. No income makes that harder to prove, but applying with a co-signer may improve your chances.
What disqualifies you from getting a student loan?
Students may be denied federal or private student loans for reasons such as not meeting citizenship requirements, failing to maintain satisfactory academic progress or having credit, income or debt issues with private lenders.
Can FAFSA deny you a loan?
FAFSA doesn't approve or deny loans. After you submit it, your school's financial aid office determines your eligibility for most federal loans.
Can I use a personal loan for tuition?
Typically, no — most personal loans restrict using the loan for tuition.
What debt-to-income (DTI) ratio do lenders commonly require?
Usually, lenders require a DTI ratio below 36%.
Do lenders allow co-signers or co-borrowers — and what’s the difference?
A co-signer helps you qualify for the loan, but doesn’t have access to the funds. A co-signer is responsible if you miss a payment. A co-borrower shares the loan and can access the funds.
Which lenders offer same-day or next-day funding?
Online lenders offer same-day or next-day funding. Some of these lenders include SoFi and Lending Club.
Gabriel Vito contributed to the reporting for this article.
Photo Credit: Getty Images/iStockphoto/DjelicS
Data is accurate as of April 24, 2026, and is subject to change.
1To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
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