Best Student Loan Companies of 2025

In a sea of student loan companies, finding the best one for you may feel overwhelming. Each private student loan company will offer something different. Some elements may be right up your alley and others maybe not so much.

While the best student loan company for you will ultimately be the one that suits your needs and desires best, the following are our top picks for the best student loan companies.

Arkansas Student Loan Authority

The Arkansas Student Loan Authority (ASLA) is an Arkansas state entity that provides educational funding for all Arkansas students who wish to attend higher education institutions.

What They Offer: ASLA offers three types of student loans: undergraduate and graduate loans, family loans, and student loan refinancing. The traditional undergraduate and graduate student loans are best for students who have a qualified cosigner and want a variety of repayment options. The family loan is best for family members or friends who want to help an undergraduate or graduate student with college costs. The refinance loan is best for students looking to refinance existing debt to simplify repayment and get a lower interest rate.

ASLA is the best student loan company for borrowers who are located in Arkansas, have a qualified cosigner, and want competitive interest rates.

Ascent

Ascent is an online student lender offering a wide selection of student loan options. Ascent was named Best Private Student Loan for 2021 by Forbes Advisor, NerdWallet, and Money.com.

What They Offer: Ascent offers three types of student loans: a traditional cosigned loan, a non-cosigned credit-based loan, and a non-cosigned outcomes-based loan. The traditional cosigned loan is best for students who have a qualified cosigner and want to pay off their debt fast. The non-cosigned loan is best for borrowers with a strong credit score and stable income. The non-cosigned outcomes-based loan is best for upperclassmen with limited credit and income and no access to a cosigner.

Ascent is the best student loan company for borrowers who do not have a cosigner available, are international or DACA students, or have lower credit scores.

Brazos

Brazos is a non-profit lender that launched in 1975 with a focus on bringing transparency and low-cost loans to Texas residents.

What They Offer: Brazos offers both private student loans and student loan refinancing to Texas residents.

Brazos is the best student loan company for borrowers who are Texas residents with an established income and strong credit.

College Ave

College Ave is an online student loan company with the mission to make the student loan process more simple, clear, and personal.

What They Offer: College Ave offers both private student loans and student loan refinancing for undergraduates, graduate students, professional school students, career school students, and parents of students.

College Ave is the best student loan company for borrowers who want a more flexible repayment term that allows them to find a loan that matches their budget.

The Custom Choice Loan®

The Custom Choice Loan® is powered funded by Citizens. The loan option is designed to provide borrowers with greater flexibility and control when it comes to funding their college education.

What They Offer: The Custom Choice Loan is available for undergraduate and graduate students.

The Custom Choice Loan is the best student loan option for borrowers that want competitive interest rates, are seeking a flexible repayment term, and want strong borrower benefits.

Earnest

Earnest is an online student lender that was founded in 2013 with the mission to make the student loan process simpler for students and graduates.

What They Offer: Earnest offers both private student loans and student loan refinancing to undergraduate, graduate, and professional students.

Earnest is the best student loan company for borrowers who want competitive interest rates, unique borrower perks, and flexible repayment options that allow them to find a loan that matches their budget.

Edly

Edly offers Income-Based Repayment (IBR) loans through FinWise Bank, an FDIC-insured bank. IBR loans create an alternative loan option for students by setting post-graduation payments based on income.

Students who borrow an IBR loan from Edly will not have to make payments while in school. Instead, borrowers make payments after graduation based on their income.

What They Offer: Edly offers income-based repayment (IBR) loans for a select group of schools and programs.

Edly is the best student loan company for borrowers who want a loan option with no cosigner, competitive repayment terms, and flexible repayment options.

Funding U

Funding U is an online lender that focuses exclusively on undergraduate students with no cosigner. Rather than looking at the borrower’s credit score or income, Funding U looks at non-traditional metrics such as GPA and estimated future income to assess creditworthiness.

What They Offer: Funding U offers non-credit-based student loans for undergraduate students.

Funding U is the best student loan company for borrowers who are high-achieving undergraduate students with limited credit history and no access to a creditworthy cosigner.

INvestED

INvestED has been providing students in Indiana with higher education solutions for over 40 years.

What They Offer: INvestED offers private student loans, parent loans, and student loan refinancing for residents of and students in Indiana.

INvestED is the best student loan company for borrowers who are residents of or students in Indiana who want competitive interest rates and a variety of repayment options.

ISL Education Lending

ISL Education Lending is a nonprofit student lender established in 1979 with the mission of supporting students and families who have exhausted other sources of aid.

What They Offer: ISL Education lending offers both private student loans and student loan refinancing.

ISL Education Lending is the best student loan company for borrowers who want to work with a nonprofit lender and want competitive interest rates.

LendKey

LendKey is an institution that connects borrowers with a network of 100+ lesser-known credit unions and community banks, allowing borrowers to work with smaller lenders with low rates and good customer service, rather than traditional lending institutions.

What They Offer: LendKey offers both private student loans and student loan refinancing.

LendKey is the best student loan company for borrowers who want to work with a credit union or community bank, have strong credit, and have stable income.

MPOWER

MPOWER is an online lender that works with international and DACA students to provide affordable college financing.

What They Offer: MPOWER offers non-cosigned undergraduate and graduate student loans for international, domestic, and DACA students.

MPOWER is the best student loan company for borrowers who are international or DACA students, don’t have a credit history, and can’t access a qualified cosigner.

Nelnet Bank

Nelnet Bank is an online student lender founded over 40 years ago with the mission to make educational dreams possible.

What They Offer: Nelnet Bank offers both private student loans and student loan refinancing.

Nelnet Bank is the best student loan company for borrowers who want competitive interest rates, a variety of repayment options, and a flexible forbearance policy.

Prodigy Finance

Prodigy Finance is an online student lender founded in 2007 to help international students find affordable college financing.

What They Offer: Prodigy Finance offers student loans for international students in master’s degree programs.

Prodigy Finance is one of the best student loan companies for international student borrowers with no credit history.

Sallie Mae

Sallie Mae is one of the largest online private student lenders and is committed to helping borrowers find affordable college financing.

What They Offer: Sallie Mae offers student loans for undergraduate, graduate, MBA, law, medical, dental, and career training programs.

Sallie Mae is the best student loan company for borrowers who want a more flexible repayment plan and competitive interest rates.

SoFi

SoFi is an online student lender founded in 2019 and is now one of the largest student loan companies in the industry.

What They Offer: SoFi offers both private student loans and student loan refinancing. SoFi’s student loan offering is available for undergraduates, graduates, law and MBA students, as well as parents of students.

SoFi is the best student loan company for borrowers that have a high credit score and want competitive interest rates.

Final Thoughts from the Nest

When picking a student loan company to move forward with, make sure you compare options side by side. Start by using Sparrow. Our free student loan search tool will allow you to see what student loan rates you pre-qualify for in as little as 3 minutes. Then, we’ll help you compare loan rates side by side so you can pick the best option for you. Sign up today to get started.

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.