How to Pay for College with No Financial Aid

Author
Grace Lemire
Grace Lemire
author

Grace Lemire is a freelance writer and editor with over five years of experience in the personal finance industry. She has been featured on a variety of publications, including NPR, CNN, FinanceBuzz, Dollar Geek, Pangea, and True Finance. Her work focuses on the intersection of personal finance and technology. In 2023, Grace was nominated for the Best Personal Finance Advice award in Debt.com’s FinTok Awards.

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Edited by
Daniel Kahn
Daniel Kahn
editor
Daniel is the co-founder and COO at Sparrow. Daniel is responsible for the day-to-day operations of a company, working closely with other members of the executive team to develop and implement strategies to support the growth and success of the company.
Daniel was a 2023 Forbes 30 Under 30 lister in the Education category.  Daniel was born and raised in Raleigh, North Carolina and graduated from Duke University in 2020.
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Reviewed by
Camden Ford
Camden Ford
reviewer

Camden leads Sparrow’s business operations – everything from product management to business analytics. After graduating Cum Laude from Duke University where he studied Civil Engineering, Camden worked as a Consultant for A.T. Kearney where he worked in their Strategic Operations practice. With a strong background in analytics, Camden strives to deliver data-driven conclusions and insights.

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Updated
January 19, 2024
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Each year, college-bound students anticipate receiving their college financial aid award letters. Oftentimes, financial aid becomes a make-it-or-break-it factor in pursuing a higher education.

If your financial aid award is too small, it could put attending that university out of the question. But what if you receive no financial aid at all?

Before you throw your college dreams out the window, let’s break this down. Here’s what you can do to pay for college with no financial aid.

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How College Financial Aid Works

Opening a financial aid award letter only to see a series of zeros is both disappointing and uncommon. In fact, the vast majority of students do receive at least some sort of financial aid, whether that be scholarships, grants, work-study, or loans.

Financial aid is calculated based on a variety of factors, however, it tends to be either need-based or merit-based. Need-based financial aid is given based on your financial need, or how much you or your family is expected to be able to contribute to your college education. Merit-based aid, on the other hand, is given based on achievements, such as academic or athletic excellence.

Why Didn’t I Get Financial Aid?

How your financial aid is calculated is frankly a complex process. So, in theory, there are a variety of reasons you didn’t qualify for financial aid.

That said, there are seven common things that often disqualify students from receiving financial aid.

#1: You Didn’t Submit Your FAFSA

The FAFSA, or Free Application for Federal Student Aid, must be filled out for you to be considered for federal financial aid. Federal financial aid includes all federally-funded aid programs, such as federal grants, work-study, and federal student loans.

The FAFSA opens each year on October 1st and closes on June 30th of the following year. You should complete the FAFSA the year before you plan to enroll in college. For example, if you plan to attend college for the 2023-2024 academic year, you should complete the FAFSA during the October 1st, 2022-June 30th, 2023 cycle.

If you did not complete the FAFSA, you will not be eligible for federal financial aid.

#2: You Submitted the FAFSA Late

Federal financial aid is awarded on a first-come, first-served basis.

The later you submit your application, the lower your chances of receiving financial aid. Because of this, we recommend submitting your FAFSA as close to the October 1st opening date as possible.

Likewise, the June 30th deadline for submitting the FAFSA is firm. If you submitted the FAFSA past the deadline, you will be ineligible for federal financial aid for that academic year. You must wait until the next application cycle to fill it out again.

If helpful, put the FAFSA opening date and submission deadline in your calendar for future academic years so you don’t forget.

#3: You’ve Reached Your Financial Aid Limit

Certain financial aid has limits. For example, some grant programs award recipients with $20,000 and allow them to use the funds as they see fit. So, if the recipient had already used the entire $20,000 of that award to fund their freshman year tuition, they will not receive any additional grant funding from that program in following years.

If you have already met the maximum award or borrowing limits for the financial aid you have access to, you will not see more financial aid in your aid package.

Some of the most common financial aid programs with limits are:

Financial Aid Program

Limit

6 years of funding. Recipients are eligible to receive 600% of their yearly award (over the course of a 6-year period). If recipients use 150% of their total 600% in their freshman year, they will have a remaining 450% for the rest of their college career.

Federal Undergraduate Subsidized Loans

The total Cost of Attendance minus your Estimated Family Contribution (EFC).

Federal Undergraduate Unsubsidized Loans (Dependent Students)

• First Year: $5,500 ($3,500 subsidized, $2,000 unsubsidized)
• Second Year: $6,500 ($4,500 subsidized, $2,000 unsubsidized)
• Third Year and Beyond: $7,500 ($5,500 subsidized, $2,000 unsubsidized)
• Total Limit Over the Course of Your Entire Education: $31,000 ($23,000 subsidized, $7,000 unsubsidized)

Federal Undergraduate Unsubsidized Loans (Independent Students)

• First Year: $9,500 ($3,500 subsidized, $6,000 unsubsidized)
• Second Year: $10,500 ($4,500 subsidized, $6,000 unsubsidized)
• Third Year and Beyond: $12,500 ($5,500 subsidized, $7,000 unsubsidized)
• Total Limit Over the Course of Your Entire Education: $57,500 ($23,000 subsidized, $34,500 unsubsidized)

Graduate Federal Student Loans

$20,500 in unsubsidized loans with a lifetime limit of $138,500, which includes undergraduate federal student loans.

If you have already reached your maximum award or borrowing limit, you may not receive more financial aid.

#4: You are Defaulted on a Federal Student Loan

Your federal student loans are considered defaulted after you’ve missed your scheduled loan payments for more than 9 months, which is around 270 days.

If you are defaulted on a federal student loan, you are ineligible for federal student aid, regardless of whether you submitted the FAFSA.

If your student loans are in default, or you believe they may be in default, contact your federal student loan servicer as soon as possible to discuss options such as loan rehabilitation.

You will not be eligible for any federal financial aid until the defaulted loan is paid off.

#5: You Did Not Meet the Income Threshold for Need-Based Aid

Need-based financial aid requires you to meet a certain threshold of financial need to be eligible. Information such as your expected family contribution (EFC), your school year, and the cost of attendance at your school will determine your eligibility for need-based financial aid.

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#6: You Did Not Meet the Eligibility Requirements for Merit-Based Aid

When determining your eligibility for merit-based aid, your academic standing may be considered. If you are not making Satisfactory Academic Progress (SAP), you will be ineligible for merit-based federal financial aid.

To make SAP, you must have at least a 2.0 GPA on a 4.0 scale (a C average) and pass enough classes to make progress toward earning a degree.

#7: You Are Not a U.S. Citizen

When it comes to federal financial aid, only U.S. citizens and permanent residents with a green card are eligible. If you are neither, you will not be eligible to receive federal financial aid.

6 Ways to Pay for College Without Financial Aid

If you fall into one of the above categories, and thus did not receive financial aid, there are a few things you can — and should — do to pay for college.

Here are the top six things you can do to pay for college with no financial aid:

Write an Appeal Letter

While it may sound intimidating, appealing your financial aid package should be your first step. Before you write an appeal letter, though, you should consider the following:

  1. Has your or your family’s financial situation changed since you submitted the FAFSA due to unexpected or special circumstances? (ie. medical expenses)
  2. Did you make an error on your FAFSA that you believe impacted your financial aid package?
  3. Did you receive a better financial aid package from another school that you’d like another school to match?

If any of the above circumstances are applicable to you, it is worthwhile to appeal your financial aid award.

When writing your appeal letter, be mindful of what you say and how you say it. Remember, their initial assessment granted you $0 in financial aid. They will need to spend time reevaluating your financial aid package, so be understanding and respectful of their time.

Look for Merit-Based Scholarships

Merit-based scholarships should be your next stop in paying for college without financial aid. Scholarships, unlike student loans, do not have to be paid back. (Yup, free money.)

We recommend starting your search with scholarship search engines. These sites compile thousands, sometimes even hundreds of thousands, of scholarship opportunities, making it easy for you to apply to several in one place.

Our favorite scholarship search engines include:

  1. Sallie Mae’s Scholarship Search Tool
  2. Scholarships.com
  3. Chegg.com
  4. Fastweb.com
  5. Niche.com
  6. Cappex.com

Complete the FAFSA

If it isn’t too late, you should submit the FAFSA.

For example, if you received your financial aid package of $0 on May 1st, 2023, you still have until June 20th, 2023 to complete the FAFSA. While you may not receive any financial aid due to submitting so late in the cycle, it is worth a shot.

To complete the FAFSA, start by gathering any necessary documents such as:

  1. Your social security number
  2. Your parents’ social security numbers (if you are a dependent)
  3. Your Alien Registration Number (if you are not a U.S. citizen)
  4. Tax information, such as tax returns
  5. Records of any untaxed income
  6. Information on cash you may have

After you have this information, fill out the FAFSA, and submit it before June 30th.

Look for Jobs that Offer Tuition Assistance

If receiving other financial aid is not an option, pursuing employment at a company with tuition assistance is another solid option.

There are a variety of companies offering both part-time and full-time employment with incredible tuition reimbursement benefits.

For example:

  1. Starbucks offers both full-time and part-time employees up to 100% tuition reimbursement for courses taken through Arizona State University’s online program.
  2. Target offers employees up to 100% tuition reimbursement for undergraduate degrees.
  3. Papa John’s offers employees at corporate-owned locations up to 100% tuition reimbursement for undergraduate and graduate degree programs done through Purdue University Global.

Consider Private Student Loan Options

If you are unable to secure other forms of financial aid, private student loans can be a viable option. As with any loan, however, you should always compare interest rates and terms so you can get the best student loan possible.

The following are our top picks for private student loans:

Arkansas Student Loan Authority

Best if you are located in Arkansas, have a qualified cosigner, and want competitive interest rates.

Ascent

Best if you don’t have a cosigner, are an international or DACA student, or have a low credit score.

Brazos

Best if you are a Texas resident, have strong credit, and want competitive interest rates.

College Ave

Best if you are seeking competitive interest rates and a more flexible repayment plan that matches your budget.

Earnest

Best if you are seeking competitive interest rates, unique borrower perks, and flexible repayment options.

Funding U

Best if you are a high-achieving student with limited credit history and no access to a creditworthy cosigner.

INvestED

Best if you are a resident of or student in Indiana seeking competitive interest rates and a variety of repayment options.

LendKey

Best if you have strong credit and want generous cosigner release and forbearance policies.

MPOWER

Best if you are an international or DACA student, don’t have a credit history, or can’t access a qualified cosigner.

Nelnet Bank

Best if you are seeking competitive interest rates, a variety of repayment terms, and a flexible forbearance policy.

Prodigy Finance

Best if you are an international student who doesn’t have a credit history and can’t access a qualified cosigner.

Sallie Mae

Best if you are seeking a more flexible repayment plan and competitive interest rates.

SoFi

Best if you are seeking competitive interest rates and have a strong credit history or a creditworthy cosigner.

Rather than completing an individual application with each lender to see what you qualify for, consider using Sparrow. The Sparrow application allows you to submit one single application to see what rates you qualify for at 15+ student lenders. Using Sparrow is also free and won’t impact your credit score.

Consider Community College

If your top choice school is simply out of reach due to a lack of financial aid, it may be worthwhile to consider a less expensive school, or even a year or two at a local community college. Community college is often far cheaper than traditional 4-year institutions.

Student loan rates from our partners
lender Ascent logo
Ascent
Minimum credit score
Varies
Fixed APR
Fixed APR

Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills, or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 12/1/2024 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require full
principal and interest payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.

3.69 - 15.28%
Variable APR
Variable APR

Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills, or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 12/1/2024 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require full
principal and interest payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.

5.50 - 15.04%
lender LendKey logo
LendKey
Minimum credit score
660
Fixed APR
Fixed APR

1 – Terms and Conditions Apply

Loan products, terms, and benefits may be modified or discontinued by participating lenders at any time without notice. Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile. Variable rates may increase after consummation. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school, and meet the lender’s credit and income requirements to qualify for a loan. Certain membership requirements (including the opening of a share account, a minimum share account deposit, and the payment of any applicable association fees in connection with membership) may apply in the event that an applicant wishes to apply with, and accept a loan offered from, a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if you meet the lender’s eligibility criteria. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Loans for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not available via LendKey.com.

2 – Cosigner Release

Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.

3 – Autopay Rate Reduction

Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.

4 – AutoPay Discount & Lowest Interest Rate

Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 10 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.

3.99 - 12.61%
Variable APR
Variable APR

1 – Terms and Conditions Apply

Loan products, terms, and benefits may be modified or discontinued by participating lenders at any time without notice. Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile. Variable rates may increase after consummation. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school, and meet the lender’s credit and income requirements to qualify for a loan. Certain membership requirements (including the opening of a share account, a minimum share account deposit, and the payment of any applicable association fees in connection with membership) may apply in the event that an applicant wishes to apply with, and accept a loan offered from, a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if you meet the lender’s eligibility criteria. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Loans for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not available via LendKey.com.

2 – Cosigner Release

Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.

3 – Autopay Rate Reduction

Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.

4 – AutoPay Discount & Lowest Interest Rate

Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 10 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.

5.98 - 13.74%
lender Earnest logo
Earnest
Minimum credit score
650
Fixed APR
Fixed APR

Student Loan Origination (Private Student Loan) Interest Rate Disclosure:

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 3.72% APR to 16.74% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.24% APR to 17.10% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan origination loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.
Earnest Private Student Loans are made by One American Bank, Member FDIC, or FinWise Bank, Member FDIC. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Finwise Bank, 756 East Winchester, Suite 100, Murray, UT 84107
Earnest loans are serviced by Earnest Operations LLC, 535 Mission St., Suite 1663 San Francisco, CA 94105, NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). One American Bank, FinWise Bank, and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America. © 2024 Earnest LLC. All rights reserved.
3.47 - 16.49%
Variable APR
Variable APR

Student Loan Origination (Private Student Loan) Interest Rate Disclosure:

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 3.72% APR to 16.74% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.24% APR to 17.10% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan origination loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.
Earnest Private Student Loans are made by One American Bank, Member FDIC, or FinWise Bank, Member FDIC. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Finwise Bank, 756 East Winchester, Suite 100, Murray, UT 84107
Earnest loans are serviced by Earnest Operations LLC, 535 Mission St., Suite 1663 San Francisco, CA 94105, NMLS #1204917, with support from Higher Education Loan Authority of the State of Missouri (MOHELA) (NMLS# 1442770). One American Bank, FinWise Bank, and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America. © 2024 Earnest LLC. All rights reserved.
4.99 - 16.85%
lender College Ave logo
College Ave
Minimum credit score
Mid-600s
Fixed APR
Fixed APR

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.

(2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.

(3) This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 12/2/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.

3.47 - 17.99%
Variable APR
Variable APR

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.

(2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.

(3) This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 12/2/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.

4.99 - 17.99%

Final Thoughts from the Nest

If you didn’t receive any financial aid, don’t lose hope. There are a variety of things you can do to still pursue a higher education. Start with appealing your financial aid award, then look for other avenues for aid, such as scholarships and private student loans.

Sparrow’s goal is to give you the tools and confidence you need to improve your finances. Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products.

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