Best Parent Student Loans of December 2024

Author
Abigail Eun
Abigail Eun
author

Abigail Eun is a freelance writer and personal finance expert. Through diligent research and continuous learning, she has honed her knowledge in budgeting, saving, investing, and debt management. Abigail is passionate about helping people get their finances in order. She believes that everyone should have access to the information they need to make sound financial decisions. Her goal is to provide clear and concise information that is easy to understand.

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Edited by
Emma Östlund
Emma Östlund
editor

Emma Östlund works as a business operations analyst at Sparrow. Emma studied Psychology, Computer Science, and Markets & Management at Duke University. With a well-rounded background in business and analytics, Emma strives to deliver data-driven conclusions and insights.

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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
December 10, 2024

Now that your student was accepted into their dream school, it’s time to figure out how to pay for their education (as if getting into college wasn’t difficult enough, eh?). From parent loans to student loans, you have a lot of options. Therefore, finding the most suitable way to afford educational costs can be difficult to navigate. Keep reading to learn more about the best parent student loans of 2024.

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7 Best Parent Student Loans

Below is a list of some of the best parent student loan options. Rather than searching for lenders one-by-one, we recommend starting the process with an automated parent student loan search tool. After you complete the free Sparrow form, we’ll show you the rates and terms you’d qualify for with 17+ premier lenders

How Do Student Loans Work?

Student loans are borrowed money that can be used to pay for educational expenses like tuition, room and board, school supplies, and more. Students can only qualify for these loans if they are enrolled at an accredited institution at least half-time.

Student loans almost always accrue interest. Interest is a small percentage of the loan that is added on top of the total loan amount. Therefore, how much you originally borrow is not the amount you will pay back. Accordingly, it is essential that you choose your loans carefully and compare total cost projections.

Types of Student Loans

There are two main types of student loans you can borrow: federal student loans and private student loans.

The main difference between federal and private student loans is who offers them. The federal government offers federal student loans. In contrast, private student loans are offered by credit unions, banks, and other private institutions.

The following chart details the nuances of federal student loans and private student loans.

Federal Student Loans

Private Student Loans

Borrower Requirements

The Direct Subsidized Loan is only for undergraduates with financial need.

Direct Unsubsidized Loans, Grad PLUS Loans, and Parent PLUS Loans are for undergraduates, graduate students, professional students, and parents of all financial backgrounds.

No financial need is required; anyone can apply.

Cosigner Needed?

No for the Direct Subsidized Loan and Direct Unsubsidized Loans; yes for Direct PLUS Loans.

In most cases, yes. Most students do not have long enough credit histories to qualify for a competitive private student loan or a private student loan at all

Interest Rates

Interest rates tend to be lower than that of private student loans and are always fixed, meaning they do not change.

Interest rates tend to be higher for students because they lack a strong credit history. However, rates may vary with a cosigner.

Interest rates can be fixed (meaning they do not change) or variable (meaning they change based on the economic market).

Borrower Protection Plans

The federal government offers loan deferment, loan forbearance, and loan forgiveness to qualifying federal student loans.

Depends on the lender, but selections are often limited.

Credit Score Requirements

Typically, federal loans do not look at credit scores, except the Direct PLUS Loans.

Most private lenders will be looking for students and cosigners with strong credit histories and scores.

Borrowing Limits

For undergraduates: between $5,500-$12,500 maximum with the Direct Subsidized and Direct Unsubsidized Loan per academic year.

For parents: Varies on the cost of attendance and financial aid award received for the Direct PLUS Loan.

For graduate/professional students: Varies on the cost of attendance and financial aid award received for the Direct PLUS Loan.

High borrowing limit, up to 100% of the cost of attendance.

Grace Period

Federal student loans do not have to be paid if you are a current student who is enrolled at least half-time.

Direct Subsidized, Direct Unsubsidized, and the Federal Family Education Loan have six-month grace periods before you start making regular loan payments.

Some private loan lenders provide a six-month grace period, while others will require immediate repayment upon graduating, leaving school, or dropping below half-time enrollment.

Repayment Plans

The federal government offers eight repayment options:
• Standard Repayment Plan
• Graduated Repayment Plan
• Extended Repayment Plan
• Pay As You Earn Repayment Plan (PAYE)
• Revised Pay As You Earn Repayment Plan (REPAYE)
• Income-Based Repayment Plan (IBR)
• Income-Sensitive Repayment Plan (ISR)
• Income-Contingent Repayment Plan (ICRP)

Private student loans tend to have fewer repayment options in comparison to federal student loans.

When Should You Consider Student Loans?

Before pursuing student loan options, exhaust all other financial aid options. Specifically, this includes college savings accounts, scholarships, grants, and work-study. After all, borrowing money is far more expensive than spending it.

Consider the following options to finance educational costs before resorting to student loans:

College Savings Account

If you have a 529 Plan, a mutual fund, or a Roth IRA that you specifically created to finance your child’s educational costs, tap into them. Be sure to read the fine print so you are meeting withdrawal requirements.

Scholarships

Scholarships are a form of gift aid that is awarded based on academic merit, financial need, racial/ethnic group, specific affiliations, or outstanding achievements.

If your child has received any scholarships, use that money to cover a portion of their college tuition. If not, encourage your child to continuously apply for scholarships. They are offered year-round and can amount to a hefty total.

Grants

Grants are another form of gift aid that do not need to be paid back. They are offered by federal, state, public, and private entities.

Unlike scholarships, however, grants are awarded solely based on financial need. Your child should apply to any and all grants they qualify for.

Work-Study

Work-study is a federal program that employs students with an on-campus job. Specifically, students can work for an allocated amount of hours and use their paychecks at their own discretion. Generally, only students with demonstrated financial need can qualify for federal work-study.

If there is still a lot of money left to pay after you’ve exhausted the above options, consider a student loan.

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A Parent’s Role in the Student Loan Process

As first-time navigators in the student loan process, it may be difficult to draw the line in regard to how involved you or your student should be.

Here are two ways parents can aid in the student loan process:

  1. Parents can help guide their children through the student loan process by explaining how it works. Student loans can be a great opportunity to involve your student in the family’s finances and teach financial literacy. Working with your child to find student loans and discuss long-term goals will emphasize the responsibility of student loan debt and help your child in the long run.
  2. You can be a cosigner for your child to help them qualify for private loans they may not otherwise qualify for. Unlike most federal loans, which do not require cosigners, students are generally unable to qualify for competitive private loan terms without a cosigner. If you have a strong credit history and are willing to put your name on a loan with your student, consider cosigning. It is a great way to strengthen the chances of your child receiving a more competitive rate.

Parent Loans vs. Student Loans: What Should You Do?

Between parent loans and student loans, they both have their individual pros and cons. Consider your family’s financial needs as you choose between them.

Federal Parent PLUS Loan

The Parent PLUS loan is a parent loan offered by the federal government. This is the only federal loan option for parents.

To qualify for the Parent PLUS loan, you must:

  • Be the biological or adoptive parent of a dependent undergraduate student (step-parents may qualify in certain cases)
  • Not have an adverse credit history
  • Meet general eligibility requirements for financial aid

If you borrow a Parent PLUS loan on or after July 1st, 2023, and before July 1st, 2024, the fixed interest rate is 8.05%, which may be relatively high for someone with a strong credit score. You may want to consider your private parent loan options because they may offer lower, more competitive interest rates.

However, the main benefit of Parent PLUS loans is the potential for loan forgiveness. Between federal parent loans and private loans, determine which option is most viable for your family by factoring in loan forgiveness and borrowing cost projections.

Pros
  • prosYou may have the option for federal loan forgiveness.
  • prosFederal loans offer extensive borrower protection plans.
  • prosFederal loans offer flexible repayment options.
  • prosFederal loans offer flexible repayment options.
  • prosAll federal loans have a fixed interest rate, so you’ll never have to worry about your rate increasing.
Cons
  • consParent PLUS loans have higher interest rates relative to some private parent loan options.
  • consParent PLUS loans have origination fees.
  • consWhile an excellent credit score is not required, you must pass a credit check.
  • consRepayment begins immediately after the loan is disbursed.
  • consYour debt-to-income ratio may increase, which can lower your chances of qualifying for a home mortgage, an auto loan, etc.

Private Parent Loan

Private landers (like banks and credit unions) finance private parent loans.

With a private parent loan, you borrow on behalf of your child to pay for their education. Even though the loan is for your student, you have the legal responsibility to pay back the loan because it was originated in your name.

Countless private parent loans are offered by different entities, meaning that each loan has its own repayment terms and interest rates. As you look into your private parent loan options, make sure to compare them side by side and read the fine print so you know exactly what you are getting out of each loan.

Pros
  • prosYou can qualify for competitive interest rates if you have good or excellent credit.
  • prosGiven the amount of private lenders in the market, you will have many loan options to consider.
  • prosYou can borrow a private parent loan regardless of your relationship with the student.
  • prosThere are low or no origination fees.
Cons
  • consPrivate parent loans are not eligible for loan forgiveness.
  • consThere are limited repayment options and borrower protections, in comparison to federal loans.
  • consYour debt-to-income ratio may increase, which can lower your chances of qualifying for a home mortgage, an auto loan, etc. Interest rates may be higher for parents with low or bad credit.

Private Student Loan

Like private parent loans, private student loans are offered by private entities.

However, with a student loan, your child borrows the loan. While you can help your child with their loan payments, they have the legal responsibility to pay back the loan in full. If you cosign the student loan, you and your child are both legally responsible for paying back the loan.

Oftentimes, students are unable to qualify for a private student loan or receive competitive terms without a cosigner. This is because they have weak, or nonexistent, credit histories. As a parent, you can offer to cosign the loan so they qualify for more competitive loan terms.

Pros
  • prosYour student can build up a strong credit history.
  • prosBorrowing limits usually meet, or are higher than, the tuition costs.
  • prosThere is no financial need requirement.
  • prosThe loan is in the student’s name if you do not cosign for it.
Cons
  • consPrivate student loans do not qualify for loan forgiveness.
  • consStudents may require a cosigner to qualify.
  • consPrivate student loans without a cosigner may have higher interest rates than federal student loans.
  • consIf you cosign the loan, your debt-to-income ratio may increase, which can lower your chances of qualifying for a home mortgage, an auto loan, etc.

Which Loan Option is Best for Parents?

The best loan option is the one that works best with your family’s needs.

As you are exploring federal and private parent/student loan options, consider your financial standing. Is your family more suited to pay for a private loan with a low interest rate, or would your family benefit more from more flexible repayment options?

Do you want your child to borrow a student loan so they have skin in the game, or would you rather borrow a parent loan because you qualify for a more competitive interest rate and loan terms?

These are all questions you should consider as you compare your options. Remember, there is no one “right” answer. The only right choice is the one you know works best for your family.

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%

Closing Thoughts from the Nest

As you and your student continue to navigate through the student loan process, remember to take a breath and relax. Navigating this process can feel overwhelming, but we’re here to help.

When comparing loan options, consider using Sparrow’s free search tool. If you submit a free form with us today, you can see all the private loans you pre-qualify for across 15+ lenders. We’ll even help you view the long-term loan projections based on different repayment plans and compare loan terms with different cosigners.

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