Private Student Loans
You’ve got goals and dreams. Our private student loans help you start your educational journey on the right path.
- CheckSee Your Rate in Minutes
- CheckNo Application or Origination Fees
- CheckEasy Cosigning Options
Check Your Rates
See your rate2 in minutes without affecting your credit score.
Start your educational journey on the right path and find help paying for your education with a private student loan.
Why Choose Nelnet Bank Private Student Loans?
Navigate paying for college with competitive rates and offerings.
Auto Debit Savings3
When repayment starts, set up automated payments and cut .25% off your interest rate – more money in your pocket.
Cosigner Release4
If your loan requires a cosigner, we make it easy to release them when you're ready.
Flexible Payment Options
Postpone payments while in school, and then choose from several repayment plans to find the best option for you.
How To Apply
An easy application process.
Start a Loan Application
As the student, you begin the application by providing basic information about yourself and your school.
Add a Cosigner
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.
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.
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 MoreFrequently 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).
Selecting ‘Apply Now’ results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.back
Interest rate reduction of .25% for automatically withdrawn payments from any designated bank account (“auto debit discount”). Auto debit discount applies when full payments (including both principal and interest) are automatically drafted from a bank account. The auto debit discount will continue to apply during periods of approved forbearance or deferment if the auto debit discount was in effect at the time of receiving the forbearance or deferment. Auto debit discount will remain on the account unless (1) the automatic deduction of payments is canceled or (2) there are three consecutive automatic deductions returned for insufficient funds at any time during the term of the loan.back
Displayed rates are accurate as of October 1, 2024 and may be different at the time you apply.
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.
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.
Application must be started by the student.