Welcome to Nelnet Bank Private Student Loans for

CommonBond Visitors

At Nelnet Bank, we’re with you. We know how to help make your educational dreams a reality.

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See your rate in minutes without affecting your credit score. See Disclaimer

Your education is a smart way to get ahead – and we want to help you, too.

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


Rates Between
5.12% -15.15%
See Disclaimer About Private Student Loans Interest Rates

Fixed rate


Rates Between
4.49% -14.57%
See Disclaimer About Private Student Loans Interest Rates

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Lowest rates listed above include an interest rate reduction for eligible applications, 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.

See Disclaimer

Get Smart About Student Loans

Backed by 40+ years of experience serving the student loan industry, Nelnet Bank has created student loan options that put more possibilities in reach of more students. From better financial terms to more comfortable repayment options, we’re helping to make educational dreams possible nationwide.

Auto Debit Savings

We’ll knock .25% off of your interest rate when you enroll in auto debit. See Disclaimer

Cosigner Release

We offer cosigner release after 24 consecutive, on-time payments have been made. See Disclaimer

Flexible Repayment Options

Choose from three repayment options to find the plan that best fits your lifestyle. Also enjoy a six-month grace period after you get your degree.

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.



Whether you’re a borrower or a cosigner, you begin the application by providing basic information about you and the school the borrower attends.



Borrowers can add a cosigner (if needed), and cosigners will invite a borrower. Either way, we'll send them an email to complete the application.



The borrower and cosigner (if one is needed) will select the best loan option from the offers.

How do I qualify?

There are just a few simple eligibility requirements.

  • CheckCitizenship
    You or your cosigner must be a U.S. citizen or have permanent residency status with a valid U.S. Social Security number.
  • CheckEnrollment
    You must be enrolled at a Nelnet Bank-eligible school for the loan period in question.
  • CheckCredit
    You or your cosigner must meet Nelnet Bank’s credit criteria.
  • CheckAge
    Be the legal age to enter into binding contracts in your state/territory of residency, or be at least 17 years of age and apply with a cosigner who is at least the age of majority in their state/territory.

What do I need to get started?

Once you’re pre-qualified, you’ll need to upload some documents to verify income.

  • CheckProof of Income
    If you’re employed, two recent pay stubs work best. If you have other income, we’ll instruct you on the proper documentation.

Ready to Start Saving?

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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 Cosigners

There’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.

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Frequently Asked Questions

Have questions about student loan refinancing? 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.
Eligibility Requirements:
  • You must be enrolled at a Nelnet Bank-eligible school for the loan period in question.
  • You or your cosigner must be a U.S. citizen or have permanent residency status and a valid Social Security number.
  • You or your cosigner must meet Nelnet Bank’s credit criteria.
  • A cosigner isn’t required, but may help you meet credit or qualify for a better rate.
  • Minimum loan amount: $1,000
  • Maximum loan amount: $125,000
  • Minimum loan amount: $1,000
  • Maximum student loan limit:
    • Graduate and doctorate: $175,000
    • MBA or graduate law degree: $175,000
    • Graduate health professions degree: $500,000
A cosigner is a creditworthy person willing to assume responsibility for loan liabilities if the borrower fails to repay the loan. Applying with a cosigner may help you qualify for a loan and also lower your interest rate. Cosigners must be eligible U.S. citizens or permanent residents.
There is no typical payment. It all depends on how much you borrow and which repayment option you choose.
Some of your repayment options include:
  • Immediate repayment (you'll be required to make full principal and interest payments as soon as the loan is disbursed).
  • Interest-only repayment (you’ll make interest-only payments while in school) and 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.
You’ll need to contact your student loan servicer or private loan lender to start the deferment process – keep in mind that you’ll still accrue interest 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.

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.