From SoFi to Ascent to Earnest: The best undergraduate student loans of September 2022

If you’ve already used your savings, scholarships, and grants to pay for college and still find that you’re unable to pay for school, a student loan could be a good option.

When considering your options, federal student loans should always take precedence over private ones. Federal loans have the lowest interest rates and come with a level of protection that private lenders don’t offer.

Take the Biden administration’s plan to cancel federal student loan debt. The Department of Education is poised to forgive $10,000 in student loans for borrowers making less than $125,000 per year, and as much as $20,000 for Pell Grant recipients. Federal loans will qualify for forgiveness, but private loans won’t.

Here are some of the best options for undergraduates looking to take out student loans. 

Federal Direct subsidized loan
Federal Direct unsubsidized loan
SoFi undergraduate student loans
Ascent undergraduate student loans
College Ave undergraduate student loans
Earnest undergraduate student loans
MPower Financing undergraduate student loans
Other undergraduate student loans we considered

Citizens Bank private student loans. Citizens Bank offers good rates, but there are fewer repayment options through this lender, as Citizens doesn’t give the option to pay while you’re still in school. 

Discover private student loans. While the lender has no fees, you can find more competitive APRs elsewhere. 

Sallie Mae private student loans. You might want to go with Sallie Mae Undergraduate Student Loans if you want to avoid origination and prepayment fees, as the lender doesn’t charge any. However, the lender charges hefty late fees. 

Credible private student loans. Credible doesn’t directly make student loans. Rather, it is a marketplace that makes loans through the lenders listed above and more. Credible works with Ascent, Citizens Bank, College …read more

Source:: Businessinsider

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