Best Graduate Student Loans

Earnest offers graduate student loans with several helpful features, including the option to defer payments for up to nine months after graduation. In addition to its deferred repayment option, Earnest offers three other repayment options, giving you some room to adjust. Borrowers benefit from relatively low APRs and a rate-match guarantee, so if you’re quoted a lower rate from a competing lender, Earnest will match it and give you a $100 Amazon gift card. 

Earnest charges no origination, prepayment, or late fees, and borrowers can pre-qualify for its loans. While a minimum borrowing amount of $1,000 applies, it offers a fairly high maximum aggregate loan amount of $250,000. Repayment terms of 5, 7, 10, 12, and 15 years are available.

• Deferred: Defer payment for up to nine months after graduation; interest will accrue during deferment.
• Full principal and interest: Start paying your loan’s full principal and interest monthly while in school.
• Fixed amount: Pay $25 per month toward your loans while in school.
• Interest only: Pay accrued interest each month while in school. 

Graduate student loans from Earnest are available in 49 states and D.C., excluding Nevada, and can be used for qualifying graduate programs at four-year, not-for-profit colleges and universities. You may qualify for a loan with a credit score as low as 650, though you’d likely get a better rate with a co-signer.

Credible is a student loan marketplace that lets you compare graduate school loans from up to eight of its partner lenders at once. Its partners include top lenders like Ascent, Citizens, College Ave, MEFA, and Sallie Mae. 

Given that Credible is a loan comparison site, features like loan amounts, loan terms, repayment options, fees, and borrower eligibility criteria will vary by lender. However, none of its partners charge origination or prepayment fees, which is helpful for keeping costs down. Overall, Credible is a great choice for those who want a convenient way to compare multiple loan options from different lenders. 

• Deferred: Defer payment for a set timeframe, such as six or nine months, after you graduate.
• Full principal and interest: Start paying your loan’s full principal and interest each month while in school.
• Fixed amount: Pay a set amount monthly, such as $25 or $50, while you’re in school.
• Interest-only: Make interest-only payments each month while in school.

As mentioned, eligibility requirements vary by lender. But in general, you’ll need to be enrolled at least part-time at a college or university to qualify for a loan from one of Credible’s partner lenders. Those below the age of majority in their state and international students will need a co-signer to apply.

For those pursuing a law degree, SoFi offers graduate school loans with competitive rates and no fees. Borrowers can also choose from four repayment options, including the option to defer payments until six months after graduation. Though this repayment option is the most expensive, it can still be useful as you’re establishing your law career. 

SoFi’s law school loans come with flexible repayment terms as well. You can opt for a term as short as 60 months or as long as 180 months, depending on your needs. This lender offers the option to pre-qualify for graduate school loans, so you’ll have an idea of the rate you might get before you formally apply. Borrowers also benefit from fast lending decisions with SoFi; its online application process is quick and simple. 

• Deferred: Defer payments for up to six months after graduation.
• Full principal and interest: Make full monthly principal and interest payments each month as a student. 
• Fixed amount: Make partial $25-per-month payments while you’re in school.
• Interest only: Make monthly interest-only payments while you’re in school.

SoFi’s minimum credit score requirement is around 650, meaning you’ll likely need fair-to-good credit to qualify for one of its loans. This lender is available in all 50 U.S. states and Washington D.C., and international students and DACA recipients can also apply.

Ascent offers a range of student loans, including credit-based and outcomes-based loans for college students. Its credit-based loans are available to graduate students, while its outcomes-based loans are only available to college juniors and seniors at qualifying institutions. 

Borrowers who meet certain conditions will be eligible to get 1% of their loan amount back after graduating. To be eligible, you must meet these conditions:

• Graduate from the degree program the loan was used to fund
• Initiate a request for the cash-back reward
• The loan must not have been refinanced or consolidated with another lender
• The borrower must enroll in automatic debit payments for loan repayment

Beyond its loan options and flexible eligibility criteria, Ascent offers a few other perks with its graduate student loans. It charges no origination or prepayment fees, though late and returned payment fees apply. Borrowers can also get a referral bonus of up to $525 when a friend they refer successfully applies for a loan. 

• Deferred: Defer payments for up to nine months after graduation.
• Fixed amount: Pay as little as $25 per month toward your loans before graduation.
• Interest-only: Pay accrued interest on your loans each month while in school. 
• Full principal and interest: Make full principal and interest payments each month while in school.

Ascent indicates its minimum credit score requirement varies, and it mentions it also considers credit history and other factors to determine if a borrower is approved for a loan. This lender offers loans in all 50 states, Washington D.C., and U.S. territories. To qualify, you’ll need to be enrolled at least half-time at an eligible college or university. Borrowers without a co-signer need an annual income of at least $24,000.

If you’re planning to attend medical school, Discover offers a compelling graduate student loan option. Its grad student loans for health professionals come with fairly low APRs, and can be used for quite a few different professions, including dentistry, nursing, occupational therapy, pharmacy, physical therapy, and veterinary medicine.

You can borrow up to the full cost of attendance if needed. Discover also offers residency loans, which cover costs related to residencies and internships for a variety of medical programs. 

In addition to these benefits, you can also defer your student loan payments while in medical residency and for up to nine months afterward. Other repayment options are available if you prefer not to defer payments. Borrowers benefit from multiple rate discounts with Discover, including an interest-only repayment discount of 0.35% and an automatic debit discount of 0.25%. 

• Deferred: Defer payment for up to nine months after you graduate.
• Full principal and interest: Start making your monthly loan payments in full while in school. 
• Fixed amount: Pay $25 each month while you’re in school.
• Interest-only: Make interest-only payments each month while in school and get a 0.35% rate discount.

Discover’s health professions loans are only for students who are seeking a degree, and who are enrolled at least half-time in a health professions graduate program at an eligible school. 

Discover doesn’t disclose its credit score requirements for borrowers. Your income, credit history, and the length of your graduate program will likely factor into whether you’re approved for a loan. This lender offers parent student loans for borrowers in all 50 U.S. states and Washington D.C.

While MPOWER Financing has a higher APR range for its grad student loans than some competitors, it’s also very upfront about offering loans with no co-signer or collateral required. 

Instead of simply looking at the traditional criteria for eligibility, MPOWER also looks at factors like your future earning potential to help you qualify. This could be useful if your credit history is limited and you don’t have a trusted family member or friend to co-sign your loan. Just keep in mind that a higher rate means higher borrowing costs. 

Despite this, MPOWER offers some helpful features for prospective borrowers, including no prepayment penalties and an autopay rate discount of 0.25%. Its loans are subject to origination and late payment fees, though. It also offers assistance to international students seeking help with their visas as well as career services help.

• Full principal and interest: Start paying your loan’s full principal and interest monthly while you’re in school.
• Interest-only: Make monthly interest-only payments each month while in school and for up to six months after you graduate.

MPOWER Financing offers outcomes-based loans for international and U.S.-based students. Co-signers and collateral aren’t required, making this lender a decent choice for fair-credit borrowers or those with no credit or limited credit. While this lender offers loans in all 50 U.S. states and Washington, D.C., only around 400 schools in the U.S. and Canada are supported.

Refinancing your student loans could let you pay them off at a lower interest rate, while consolidating multiple debts (if you have them) into a single monthly payment. Those looking to refinance may want to consider working with Splash Financial. This online bank offers student loan refinances with competitive rates and flexible terms of up to 25 years, including a generous 9-month grace period. 

While its rates and terms are competitive, Splash Financial partners with a few third-party lenders to issue its loans (which don’t lend through any company except for Splash). But you can pre-qualify to check your potential rates before you formally apply, and Splash Financial’s partner lenders don’t charge origination fees or prepayment penalties, so you won’t need to worry about those added costs.

Refinanced medical and dental school loans get a special deal—you’ll only be required to make fixed $100 monthly payments while in residency or fellowship, and for a six-month period afterward.

• Full principal and interest: Start paying your loan’s full principal and interest each month while in school.
• Medical and dental school repayment: Refinanced medical or dental school loans only require fixed monthly payments of $100 while you're in a residency or fellowship, and for a six-month period after you leave those programs.

Because Splash Financial works with partner lenders, eligibility requirements could vary slightly depending on the lender you’re matched with. But Splash Financial does offer some general guidance, mentioning that the ideal credit score for borrowers is 700 or above. Its ideal debt-to-income ratio is below 30%. Its loans are available in all 50 U.S. states, Washington D.C., Puerto Rico, and the Virgin Islands.

The process of applying for grad school loans is slightly more complicated when you’re an international student. You need to apply for a student visa, complete additional paperwork, and more. 

Fortunately, Citizens Bank, which has been issuing student loans for over 40 years, offers student loans for international students applying with a U.S.-based co-signer. Citizens’ multi-year approval process means you may only need to formally apply (with a hard inquiry) once. If you’re given multi-year approval, you can request funds for later school years without further hard inquiries, and with no extra documentation required.

Citizens offers a 0.25% autopay rate discount for its student loans, and borrowers can pre-qualify to check what rate they may receive. Flexible repayment terms of 5 to 15 years are available.

• Deferred: Defer payments for up to six months after you graduate.
• Fixed payments: Pay $25 per month on your student loan during school and for six months after graduation.
• Interest-only: Make interest-only payments each month while you’re in school.
• Full principal and interest: Start repaying your loan’s full principal and interest each month while you’re in school.

Citizens Bank doesn’t disclose its minimum credit score requirements for graduate student loans, but having good credit or a co-signer with good credit could increase your chances of approval. It issues loans in all 50 U.S. states, Washington D.C., and Puerto Rico. Loans are available to U.S. citizens, permanent residents, and non-permanent residents; if you’re a non-permanent resident, you’ll need to apply with a co-signer who’s a U.S. citizen or permanent resident.