Choosing the right student loan company is tough. Student loan debt can follow an individual for years. Unfortunately, many people apply for loans without a full understanding of what they are getting themselves into. Federal loans are one option, but different companies have their own options to sort through. Here are some of the best student loan companies to choose from.
College Avenue Student Loans
College Avenue Student Loans guides signers and cosigners step by step through the application process. Once you choose the "signer" or "cosigner," the rest is simple. The application is short and gives different options for interest rates, repayment options, and at least a six-month grace period for repayment.
College Avenue Student Loans offers all kinds of loans — undergraduate, graduate, parent, and career goals. Individuals have all kinds of options for wherever life takes them. Parent loans are especially important for individuals pursuing a professional education.
The company's website also has calculators for each kind of loan. You can see the options for refinancing as well. Every step of the loan process is easy to follow. College Avenue Student Loans even won a Best-Of award from NerdWallet.
Even though Sallie Mae was called out back in 2019 for sending over 100 of its executives to Hawaii to celebrate billions of dollars in loan debt, it does make the loan process simple and clear. Sallie Mae has a clean website design that isn't too cluttered.
Sallie Mae offers all kinds of loans. The company offers undergrad and graduate loans. You can also apply for financial assistance for medical and dental programs, law school, and career training. These loans are for specific kinds of trade schools like culinary arts.
Sallie Mae also offers financial help outside of loans to give you various funding options. The website helps you find scholarships and grants. There are sections on the website that help you understand the federal work-study program and tuition assistance for military members.
Ascent Private Student Loans
Aside from having a really cool website, Ascent has many kinds of loan options. You can get help with a law or medical degree or even a Ph.D. You can apply for loans without a cosigner, which allows you to build your credit 100 percent in your own name and on your own terms. However, there are also options for cosigners.
Ascent also has its own rewards program. Students can gain cashback for shopping at certain stores. The rewards program works for in-store and online shopping, which is especially important amid the coronavirus pandemic.
If you need even more financial help, part of Ascent's website is dedicated to budgeting tips. You can learn how to make a budget and improve your current money habits.