We Make Stress-Free Loans Happen

We help students fund their education with a simple, straightforward approach to private loans. Apply with a cosigner to improve your chances of approval and unlock lower rates.

  • See Personalized Rates in Minutes2
  • No Application or Origination Fees
  • Flexible Repayment Terms
  • Interest Rate Discount for Autopay4

Cover All Types of Expenses

With Nelnet Bank, get up to 100% of your tuition, fees, housing, and living expenses covered. Plus, explore your loan options and rates without impacting your credit score 2.

Check Your Rates

Fixed Rates1

3.47 - 9.94 APR

Why Choose Nelnet Bank Private Student Loans?

We believe paying for college should be straightforward—not stressful. That's why our loans are designed to serve the needs of both students and those who support them.

Cosigner Release3

Apply with a cosigner today and release them later when you meet eligibility criteria.

No Fees to Apply

With no origination or application fees, more of your funds go directly to your education.

Auto Debit Discount4

Save 0.25% on your interest rate by setting up automatic payments after you leave school.

How to Apply

Applying for a private student loan is easier than you think—especially with a cosigner by your side.

1

Start the Loan Application

Share basic information, including school details and how much funding you need.

2

Add a Cosigner (if needed)

Most students need a creditworthy cosigner to qualify. Doing so increases your odds of approval.

3

Select Your Loan Offer

You and your cosigner can compare loan options and pick the one that fits best. Subject to credit approval.

Why Add a Cosigner?

Only about 10% of Nelnet Bank borrowers are approved without a cosigner. While not required, a creditworthy cosigner can dramatically strengthen your application and help you qualify for better rates. Learn More

Ready to Make Your Dreams Happen?

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.

How do I defer student loans?

To start the deferment process, contact your student loan servicer or private lender. Keep in mind that interest will continue to accrue 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.

What kind of repayment options are available?

Some repayment options include:

  • Immediate repayment: Monthly full principal and interest payments begin as soon as the loan is disbursed.

  • Interest-only repayment: You’ll make monthly interest-only payments while in school, then full principal and interest payments after leaving school.

  • Deferred repayment: No payments are required while you are in school, but interest will accrue during deferment.

  • Fixed payment: You’ll make a fixed $25 monthly payment while in school, then full principal and interest payments after leaving school.

What type of monthly payment should I expect to pay on my student loan?

There is no standard payment amount— it depends on how much you borrow and which repayment option you choose.

What is a cosigner?

A cosigner is a creditworthy individual who agrees to assume responsibility for loan repayment if the borrower fails to do so. Applying with a cosigner may help you qualify for a loan and secure a lower interest rate. Cosigners must be U.S. citizens or permanent residents.

How much can I borrow?*

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

  • The minimum loan amount you can refinance is $5,000.

What are the eligibility requirements of a student loan?

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 a permanent resident with a valid Social Security number.

  • A mid-to-high 600 FICO score is required for you or your cosigner

  • A cosigner is not required but may help you qualify for a loan or secure a lower interest rate.

  • You must be of legal age to enter a binding contract in your state or territory. Applicants who are 16 or 17 years old may apply with a qualified cosigner.

How are interest rates determined on student loans?

The short answer: It depends on the type of loan. There are federal student loans backed by the U.S. government and private student loans issued by private lenders.

The longer answer: Federal Direct Loan interest rates are set annually by the U.S. Congress. Private loan interest rates are determined by private lenders (such as Nelnet Bank) based on several factors.

Displayed rates are accurate as of December 1, 2025 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.

2. 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

3. Cosigner Release

Student Loan

A request for the cosigner to be released can be made by either the borrower or cosigner when each of the following conditions has been met:

  • The account must have been in full principal and interest repayment for at least 24 months.
  • Twenty-four consecutive, on-time principal and interest payments, or lump sum equivalent, must have been made.
  • NOTE: A lump sum payment does not replace the requirement to have been in full principal and interest repayment for at least 24 months. Interest-only or fixed-pay payments while enrolled in school do not qualify towards the 24 consecutive on-time payments.
  • The loan must be current at the time of request.
  • The loan must not have been in deferment, hardship forbearance, or other alternative payment assistance plan within the past 24 months.
  • The loan must not have been permanently modified from its original terms in the credit agreement.
  • The primary borrower must be a U.S. citizen or have permanent residency in the United States.
  • The primary borrower must be of sufficient age to enter a binding contract in their state of residence or territory.
  • Requirements are subject to change.

If all of these conditions have been met, then an application for cosigner release may be submitted. The primary borrower is required to demonstrate they have the ability to assume sole responsibility for the loan(s) by providing proof of income, meeting debt-to-income requirements, and having a satisfactory credit history. (A credit report will be obtained during the review process).

If you have questions on cosigner release, or would like to apply, contact us via email or phone at loans@nelnetbank.com or 800.446.4190.

Parent Loan

  • A request for the cosigner to be released can be made by either the borrower or cosigner when each of the following conditions has been met:
  • The account must have been in full principal and interest repayment for at least 24 months.
  • Twenty-four consecutive, on-time principal and interest payments, or lump sum equivalent, must have been made.
  • NOTE: A lump sum payment does not replace the requirement to have been in full principal and interest repayment for at least 24 months.
  • The loan must be current at the time of request.
  • The loan must not have been in hardship forbearance or other alternative payment assistance plan within the past 24 months.
  • The loan must not have been permanently modified from its original terms in the credit agreement.
  • The primary borrower must be a U.S. citizen or have permanent residency in the United States.
  • The primary borrower must be of sufficient age to enter a binding contract in their state of residence or territory.
  • Requirements are subject to change.

If all of these conditions have been met, then an application for cosigner release may be submitted. The primary borrower is required to demonstrate they have the ability to assume sole responsibility for the loan(s) by providing proof of income, meeting debt-to-income requirements, and having a satisfactory credit history. (A credit report will be obtained during the review process).

If you have questions on cosigner release, or would like to apply, contact us via email or phone at loans@nelnetbank.com or 800.446.4190.

4. 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.