Over the last few years, higher education has become more necessary than ever considering the job opportunities that having a degree usually provides. However, while this is a reality that remains intact even on this digital era, another element that hasn’t changed is the fact that the money you have to pay for graduate school and college keeps climbing.

Given this situation, you may have to be part of the 40 million US citizens who went to these academic institutions by using a student loan.

source:pxfuel.com

Despite the fact this may seem like bad news, the truth is that borrowing can be not only manageable but also cheaper than you can imagine. After all, it all comes down to knowing how do student loans work and deciding which one fits better with your needs. Learn more about how they work on beststudentloans.com.

o make things easier, here are the bests you can find this year

Sallie Mae

source:salliemae.com

In a nutshell, Sallie Mae is definitely the greatest student loan for flexible options, being the one that most people have been using over the last few years.

The reason? Let’s say that Sallie Mae is one of the few companies that offer both graduate and undergraduate students loans with variable interest rates. As a matter of fact, in case you have kids and want to send them to a decent private school, Sallie Mae usually provides loans for K-12.

What’s even better about Sallie Mae is that far from offering a limited variety of private student loans, it actually offers every single variation that currently exists, meaning that you have the opportunity to pick one that fits with your financial situation.

Another great detail is the fact that its student loans are not exclusively available for students, which means that even parents can receive it. Also, there aren’t origination pre-payment penalties, which clearly differentiates this company from the rest and make it better than most of its rivals in the market.

For undergraduate students, Sallie Mae offers loans with variable rates that range from 1.50 percent to 9.66 percent. Meanwhile, you can find its fixed-rate loans from 4.74 percent to 11.85 percent.

In its page, Sallie Mae makes it clear that once anyone makes on-time payments twelve times, that person can automatically apply for the so-called “co-signer release,” and even start carrying the student loan on their own.

CommonBond

source:simpletuition.com

Far from being the typical student lender which only goal is to make as much money as possible, the truth is that CommonBond do social good as well, much of which takes place through its partnership with the famous nonprofit Pencils of Promise. This way, CommonBond is simply the best student loan you can find in case you want to choose your repayment option without any kind of pressure.

The reason behind this outstanding detail is the fact that this lender offers an unusual program for businesses in order to provide student loan assistance as a benefit to their workers and employees. This way, CommonBond can provide four different options of repayment that can start after graduation or in-school.

What makes this student loan the best of its kind is the fact that it has no pre-payment fees or uncomfortable application, with its interest rates remaining quite competitive and qualified with the co-signed loans with not a single origination fee.

The student loans that CommonBond offer are available for parents, undergraduate students and graduate students. For those loans, the lender’s variable interest rates range from 3.31 percent to 9.29 percent, with payback periods that go from five to fifteen years. On the other hand, the range of CommonBond’s  fixed interest rates go from 5.45 percent to 9.74 percent, including a percentage-point discount 0.25 that you get once you signed up for the automatic payments.

Citizens Bank

source:moneyunder30.com

Of the different student loans that major banks around the United States offer, this one is simply the greatest you can find. After all, Citizens Bank, has been operating for years and have been offering the most competitive rates, to the point where its student loans are famously known as “Citizens One,” and are available from five to fifteen-year terms to parents or students.

What makes Citizens Bank the best major bank in the country to offer a student loan is the fact that its fixed interest rates go from 4.72 percent to 12.04 percent, with its variable rates ranging from 2.76 percent to 10.13 percent.

Another interesting detail about this loan is that you can even get a 0.50 percentage-point rate discount if you pay automatically, with no origination fees of any type charged

Credible

source:maywensoftware.com

This is simply the best student loan overall, thanks to an exceptional and useful feature that differentiates Credible from its competitors, and make it a peculiarity that many other companies and players in the business have been trying to imitate.

Far from being a direct student lender, Credible offers different rates for up to nine different student lenders at the same time with one simple application. Believe it or not, some of these lenders include Discover Student Loans, Sun Trust, Citizens Bank, Sallie Mae, EDvestinU College Ave and even the famous InvestED.

Naturally, this is some kind of dream come true for those who don’t want to spend too much time in this delicate process and don’t want to waste too much money. The reason? Credible basically takes care of everything.

The lenders that Credible operates with offer different options for graduate and undergraduate loans, with interest rates that start from 2.84 percent variable and 3.21 percent fixed with automatic payment.

What’s even greater about the lenders that Credible offer to provide the student loans is that its terms go from five to 20 years. Also, Credible offers a feature called marketplace in which you can find the different private student loans available at the most competitive rate. Of course, these types of student loans come with different terms and rates from the rest. However, it offers different options so it can fit with your current financial situation.


Leave a Reply

Your email address will not be published.