Parent Loan Rates
Displayed rates are accurate as of July 1, 2024 and may be different at the time you apply.
Before taking out a parent loan, make sure to take advantage of any federal loans, grants, or scholarships you have access to. Federal parent loans often include benefits and lower interest rates, so consider all your options before applying for a parent 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.
Parent Loan Not the Right Fit?
Explore our Private Student Loan options with you as the cosigner. You could help your student qualify for a private student loan and may help reduce their interest rate. Application must be started by the student.
How To Apply
An easy application process.
Start a Loan Application
As the parent, you begin the application by providing basic information about yourself and your student.
Select Your Loan Offer
You and a cosigner (if needed) will select the best loan option from the offers.
Sign and Accept Loan
Sign electronically. We'll work with your student's school to handle the rest.
How do I qualify?
There are just a few simple eligibility requirements.
- CheckCredit
A mid to high 600 FICO score is required for you or your cosigner. - CheckEnrollment
Student must be enrolled at least half-time at a Nelnet Bank-eligible school for the loan period you are applying for.
- CheckAge
You must be of the age to enter a binding contract in your state of residence or territory. - CheckCitizenship
You or your cosigner must be a U.S. citizen or have permanent residency status with a valid U.S. Social Security number.
Why Should I be a Cosigner?
Cosigners may help students qualify for private student loans and may help reduce the interest rate. It’s likely your student will need a trusted individual with a solid credit score to act as a cosigner.
1Interest rate reduction of .25% for automatically withdrawn payments from any designated bank account (“auto debit discount”).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
2Selecting ‘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