Best private student loans for June 2026

Article excerpt

Private student loans offer an alternative to federal borrowing, with rates and terms varying significantly across lenders. Major providers like Sallie Mae, Earnest, and SoFi compete on interest rates, ranging from around 5% to 13%, and repayment flexibility, though borrowers sacrifice federal protections like income-driven repayment plans. The best fit depends on credit score, co-signer availability, and how much you've already maxed out federal options. Most lenders require a credit check and offer both fixed and variable rates, with some allowing rate drops for automatic payments or good credit.