Check Your Rates
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.
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.
Get More Help for Next Semester
If your student has funding gaps to fill before next semester, Nelnet Bank is here for you. Backed by a company that’s helped over 30 million students successfully navigate repayment, Nelnet Bank offers a wealth of knowledge and educational funding solutions that give your student an advantage at every step.
Auto Debit Savings
When repayment starts for you or your student, you can set up automated payments and cut .25% off your interest rate. See Disclaimer 1
Gain the flexibility to assist your student when they need you, then release your obligation once they’re ready to take it over – a nice addition to Parent PLUS loans. See Disclaimer
Flexible Repayment Options
Your family or your student can handle repayment on your terms, with options that let you control how fast you repay.
How To Get Started
The next step in your family’s journey is just a few clicks away. We make the process as easy as possible, offering knowledgeable help when you need it.
START A LOAN APPLICATION
You (as a cosigner) or your student can begin the application by providing basic information about the applicant and the school the student will attend.
INVITE THE BORROWER
You can “invite” your student as a borrower, or your student can add you as a cosigner (if needed). Either way, we'll send an email to complete the application.
SELECT YOUR LOAN OFFER
You and your student can then select the best loan option from the offers.
How does my student qualify?
There are just a few simple eligibility requirements.
Your student or cosigner must be a U.S. citizen or have permanent residency status with a valid U.S. Social Security number.
Your student must be enrolled at a Nelnet Bank-eligible school for the loan period in question.
A mid to high 600 FICO score is required for your student or cosigner.
Your student must 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?
Have this basic information on hand to make your application process as smooth as possible.
- CheckPersonal Information
You’ll need to provide your birthdate, Social Security number, and address. (We need your SSN to validate your credit information. Don’t worry, it’s a “soft pull” so it won’t affect your credit score. We promise.)See Disclaimer
- CheckIncome + Costs
You’ll need to provide your annual income and monthly housing expenses.
- CheckSchool Information
You’ll need to provide your student’s expected graduation date, estimated education costs, and amount of other aid you’ll receive for the term.
- CheckLoan Amount
You’ll need to provide your requested Nelnet Bank private student loan amount.
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.
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