Best for borrowers with good credit
SoFi
Learn more
in our Bankrate review
-
With a selection of repayment options, several perks available to borrowers and positive reviews from customers, SoFi stands out as a contender in the private student loan market for undergraduates. Beyond being well liked, SoFi does not charge any fees — including origination or late fees. And to top it off, it has low rates for well-qualified borrowers.
-
Pros
- No fees
- Multiple discounts, including a 0.25% autopay discount
- Many in-school repayment options
Cons
- High parent loan rates
- Lower repayment term cap of 15 years
- Stricter refinancing eligibility than competitors