Paying For College On Your Mind?
We're With You. Introducing Private Student Loans from Nelnet Bank.
Check Your Rates
See your rate in minutes without affecting your credit score. See Disclaimer
Start your student loan journey on the right path with competitive rates that can help you save money and pay off student loans faster. If federal student loans, grants, and scholarships aren’t enough, we’re here to help you fill gaps in college funding, so you can reach your educational goals faster.
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 the Road Ahead
Backed by a company that’s helped over 30,000,000 students successfully navigate repayment, Nelnet Bank was established to help make your educational dreams a reality. This strong background helps us offer a wealth of knowledge and educational funding solutions that give you 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
Cosigner Release
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 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
Whether you’re a borrower or a cosigner, you begin the application by providing basic information about you and the school the borrower attends.
ADD A COSIGNER OR INVITE THE BORROWER
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.
SELECT YOUR LOAN OFFER
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
You 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 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.
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.
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.
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.
- 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
- 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.