800.446.4190

Parent Loans

Paying for your student’s college on your mind?
At Nelnet Bank, we're with you.

Check Your Rates

See your rate2 in minutes without affecting your credit score.

Start their educational journey on the right path and help pay for your student’s education with a parent loan.

Variable Rates1

5.99% to 8.79%
APR

Fixed Rates1

4.99% to 8.51%
APR

Variable Rates

Borrow

Rates Between
5.83% to 10.16%
APR
See Disclaimer About Parent Loans Interest Rates

Fixed Rates

Borrow

Rates Between
3.69% to 9.82%
APR
See Disclaimer About Parent Loans Interest Rates

Apply Now

Displayed rates are accurate as of December 1, 2024 and may be different at the time you apply.

Before taking out a parent loan, make sure to take advantage of any federal loans, grants, or scholarships you have access to. Federal parent loans often include benefits and lower interest rates, so be sure to consider all of your options before applying for a parent loan.

Lowest rates listed above include an interest rate reduction for enrollment in auto debit, and are available only to the most creditworthy applicants. Advertised variable rates reflect the starting range of rates and may increase over the life of the loan.

Parent Loan Not the Right Fit?

Explore our Private Student Loan options with you as the cosigner. You could help your student qualify for a private student loan and may help reduce their interest rate. Application must be started by the student.

Learn More

Get More Help for the Road Ahead

Nelnet Bank offers parent loans for parents or sponsors with no origination fees, competitive rates, and auto debit savings. With a parent loan you can help pay for your student’s education.

No Origination Fees

Unlike a Parent PLUS loan, we don’t charge any origination fees on our parent loans.

Competitive Rates

Benefit from competitive interest rates that help keep your overall loan costs manageable.

Auto Debit Savings3

When repayment starts, set up automated payments and cut .25% off your interest rate – more money in your pocket.

How To Apply

An easy application process.

1

Start a Loan Application

As the parent, you begin the application by providing basic information about yourself and your student.

2

Select Your Loan Offer

You and a cosigner (if needed) will select the best loan option from the offers.

3

Sign and Accept Loan

Sign electronically. We’ll work with your student's school to handle the rest.

How do I qualify?

There are just a few simple eligibility requirements.

  • CheckCredit
    A mid to high 600 FICO score is required for you or your cosigner.
  • CheckEnrollment
    Student must be enrolled at least half-time at a Nelnet Bank-eligible school for the loan period you are applying for.
  • CheckAge
    You must be of the age to enter a binding contract in your state of residence or territory.
  • CheckCitizenship
    You or your cosigner must be a U.S. citizen or have permanent residency status with a valid U.S. Social Security number.

Ready to Start Started?

Apply Now

There’s a lot of managing your money while you’re in college, putting student loans behind you, and moving on to your next big adventure. We’re here every step of the way with helpful resources.

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Going to Graduate School? Options for Managing Undergraduate Student Loan Debt

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Cosigning, Interest Rate, Private Loans, Refinancing, Repayment

A Guide to Important Student Loan Terms

5 Min Read
Private Loans, Repayment

5 Facts Students Should Know about Financial Aid

Explore The Learning Center

Ready to Get Started?

Apply Now

Frequently Asked Questions

Have questions about private student loans? If we haven’t answered your questions below, contact us – that’s why we’re here.

The short answer is – it depends on the type of loan. There are federal student loans that are backed by the U.S. government, and private student loans that are made by private banks.

The longer answer? Federal Direct Loan interest rates are determined each year by the U.S. Congress. Private loan interest rates are set by private lenders (like Nelnet Bank) using a number of factors.

Eligibility Requirements:
  • You must be enrolled at least half-time at a Nelnet Bank-eligible school for the loan period you are applying for.
  • You or your cosigner must be a U.S. citizen or have permanent residency status and a valid Social Security number.
  • A mid to high 600 FICO score is required for you or your cosigner.
  • A cosigner isn’t required, but may help you meet credit or qualify for a better rate.
  • You must be of the age to enter a binding contract in your state of residence or territory. Applicants may be 16 or 17 years old with a qualified cosigner.
Undergraduate
  • Minimum loan amount: $1,000
  • Maximum loan amount: $125,000
Graduate
  • Minimum loan amount: $1,000
  • Maximum loan amount:
    • Graduate and doctorate: $175,000
    • MBA or graduate law degree: $175,000
    • Graduate health professions degree: $500,000
*Maximum loan amounts are subject to limits on total student loan debt
A cosigner is a creditworthy person willing to assume responsibility for loan liabilities if the borrower fails to repay the loan. Applying with a cosigner may help you qualify for a loan and also lower your interest rate. Cosigners must be eligible U.S. citizens or permanent residents.
There is no typical payment. It all depends on how much you borrow and which repayment option you choose.
Some of your repayment options include:
  • Immediate repayment (you'll be required to make monthly full principal and interest payments as soon as the loan is disbursed).
  • Interest-only repayment (you’ll make monthly interest-only payments while in school) and monthly full principal and interest payments after you separate from school.
  • Defer principal and interest payments (you won’t be required to make any payments until after you separate from school) but interest will accrue while in deferment.
  • Fixed payment ($25 monthly fixed payment amount while in school and monthly full principal and interest after you separate).
You’ll need to contact your student loan servicer or private loan lender to start the deferment process – keep in mind that you’ll still accrue interest while your loans are deferred. If your loan is through Nelnet Bank, you can request deferment in your online account or by contacting us at 800.446.4190 or Loans@NelnetBank.com.