Welcome to Nelnet Bank Private Student Loans for
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You've got goals, grit, and things to do in life. Our student loans will help you achieve higher education and a path to success.
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Start your educational journey on the right path and find help paying for your education with a private student loan.
Before taking out a private student loan, make sure to take advantage of any federal student loans, grants, or scholarships you have access to. Federal student loans often include benefits and lower interest rates, so be sure to consider all of your options before applying for a private student loan.
Variable Rates
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Rates BetweenFixed Rates
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Rates BetweenDisplayed rates are accurate as of September 1, 2024 and may be different at the time you apply.
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.
Why Choose Nelnet Bank Private Student Loans?
Navigate paying for college with competitive rates and offerings.
Auto Debit Savings
When repayment starts, set up automated payments and cut .25% off your interest rate – more money in your pocket.
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Cosigner Release
If your loan requires a cosigner, we make it easy to release them when you're ready.
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Flexible Repayment Options
Postpone payments while in school, and then choose from several repayment plans to find the best option for you.
How to Get Started
The next step in your journey is just a few clicks away. We make the process as easy as possible, offering knowledgeable help when you need it.
Start a Loan Application
As the student, you begin the application by providing basic information about yourself and your school.
Add a Cosigner or Invite the Borrower
Students can add a cosigner (if needed).
Select Your Loan Offer
The student and cosigner (if needed) will select the best loan option from the offers.
How do I qualify?
There are just a few simple eligibility requirements.
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CheckCitizenship
You or your cosigner must be a U.S. citizen or have permanent residency status with a valid U.S. Social Security number.
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CheckEnrollment
You must be enrolled at least half-time at a Nelnet Bank-eligible school for the loan period you are applying for.
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CheckCredit
A mid to high 600 FICO score is required for you or your cosigner.
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CheckAge
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.
Why Would I want a Cosigner?
Cosigners may help you qualify for private student loans and may help reduce your interest rate. As a student, it’s likely you’ll need a trusted individual with a solid credit score to act as your cosigner.
Learn More About CosignersThere’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.
Going to Graduate School? Options for Managing Undergraduate Student Loan Debt
A Guide to Important Student Loan Terms
5 Facts Students Should Know about Financial Aid
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.
- 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.
- Minimum loan amount: $1,000
- Maximum loan amount: $125,000
- 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
- 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).
This referral partner is not the creditor of Nelnet Bank loans and may receive compensation from Nelnet Bank for the referral of Nelnet Bank loan customers.