10 Best Graduate School Loans For Pursuing Higher Education

Graduate school is an important next step in advancing your career, but it can come with a hefty price tag. When it comes to funding your education, you may need to consider taking out a loan. With so many options available, it can be overwhelming to decide which loan best suits your needs. That’s why we’ve compiled a list of the 10 best graduate school loans to help you pursue your higher education goals with confidence. From interest rates to repayment plans, we’ve got you covered. So, let’s dive in and explore the top loan options available for graduate students.

10 Best Graduate School Loans for Pursuing Higher Education

Graduate school is an investment in your future, but it can also be costly. If you need assistance financing your education, there are several graduate school loans available. Here are the top 10 graduate school loans that can help you achieve your academic goals.

1. Sallie Mae Graduate School Loan

Why We Like It: The Sallie Mae Graduate School Loan offers competitive interest rates and flexible repayment options for graduate students. Borrowers can choose to make interest-only payments while in school, defer payments until after graduation, or make immediate principal and interest payments. The loan also offers a 0.25% interest rate reduction for automatic payments.

Who Should Get It: Graduate students who need a flexible loan with competitive interest rates and repayment options.

• Competitive interest rates
• Flexible repayment options
• 0.25% interest rate reduction for automatic payments

Pros:

• Flexible repayment options
• Competitive interest rates
• No origination fees or prepayment penalties

Cons:

• Requires good credit or a cosigner
• Higher interest rates for longer repayment terms

2. Discover Graduate Student Loan

Why We Like It: The Discover Graduate Student Loan offers low interest rates and flexible repayment terms. Borrowers can choose to defer payments until after graduation or make interest-only payments while in school. The loan also offers a 0.25% interest rate reduction for automatic payments.

Who Should Get It: Graduate students who need a loan with low interest rates and flexible repayment terms.

• Low interest rates
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Pros:

• No application, origination, or late fees
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Cons:

• Requires good credit or a cosigner
• Higher interest rates for longer repayment terms

3. CommonBond Graduate Student Loan

Why We Like It: The CommonBond Graduate Student Loan offers low interest rates and flexible repayment terms. Borrowers can choose to make interest-only payments while in school or defer payments until after graduation. The loan also offers a 0.25% interest rate reduction for automatic payments.

Who Should Get It: Graduate students who need a loan with low interest rates and flexible repayment terms.

• Low interest rates
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Pros:

• No application, origination, or prepayment fees
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Cons:

• Requires good credit or a cosigner
• No option for immediate principal and interest payments

4. Citizens Bank Graduate Student Loan

Why We Like It: The Citizens Bank Graduate Student Loan offers competitive interest rates and flexible repayment terms. Borrowers can choose to defer payments until after graduation or make interest-only payments while in school. The loan also offers a 0.25% interest rate reduction for automatic payments.

Who Should Get It: Graduate students who need a loan with competitive interest rates and flexible repayment terms.

• Competitive interest rates
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Pros:

• No application, origination, or prepayment fees
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Cons:

• Requires good credit or a cosigner
• Higher interest rates for longer repayment terms

5. PNC Solution Loan for Graduate School

Why We Like It: The PNC Solution Loan for Graduate School offers low interest rates and flexible repayment terms. Borrowers can choose to defer payments until after graduation or make interest-only payments while in school. The loan also offers a 0.50% interest rate reduction for automatic payments.

Who Should Get It: Graduate students who need a loan with low interest rates and flexible repayment terms.

• Low interest rates
• Flexible repayment terms
• 0.50% interest rate reduction for automatic payments

Pros:

• No application, origination, or prepayment fees
• Flexible repayment terms
• 0.50% interest rate reduction for automatic payments

Cons:

• Requires good credit or a cosigner
• Higher interest rates for longer repayment terms

6. Wells Fargo Graduate Loan

Why We Like It: The Wells Fargo Graduate Loan offers competitive interest rates and flexible repayment terms. Borrowers can choose to defer payments until after graduation or make interest-only payments while in school. The loan also offers a 0.25% interest rate reduction for automatic payments.

Who Should Get It: Graduate students who need a loan with competitive interest rates and flexible repayment terms.

• Competitive interest rates
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Pros:

• No application, origination, or prepayment fees
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Cons:

• Requires good credit or a cosigner
• Higher interest rates for longer repayment terms

7. Ascent Graduate Student Loan

Why We Like It: The Ascent Graduate Student Loan offers flexible repayment terms and several unique features, including a cosigner release option after 24 months of consecutive on-time payments and a 1% cash-back reward for graduating with a 3.0 GPA or higher.

Who Should Get It: Graduate students who need a flexible loan with unique features and benefits.

• Flexible repayment terms
• Cosigner release option after 24 months of consecutive on-time payments
• 1% cash-back reward for graduating with a 3.0 GPA or higher

Pros:

• No application, origination, or prepayment fees
• Flexible repayment terms
• 1% cash-back reward for graduating with a 3.0 GPA or higher

Cons:

• Higher interest rates for longer repayment terms
• Requires good credit or a cosigner

8. College Ave Graduate Student Loan

Why We Like It: The College Ave Graduate Student Loan offers low interest rates and flexible repayment terms. Borrowers can choose to defer payments until after graduation or make interest-only payments while in school. The loan also offers a 0.25% interest rate reduction for automatic payments.

Who Should Get It: Graduate students who need a loan with low interest rates and flexible repayment terms.

• Low interest rates
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Pros:

• No application, origination, or prepayment fees
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Cons:

• Requires good credit or a cosigner
• Higher interest rates for longer repayment terms

9. Earnest Graduate Student Loan

Why We Like It: The Earnest Graduate Student Loan offers low interest rates and flexible repayment terms. Borrowers can choose to make interest-only payments while in school or defer payments until after graduation. The loan also offers a 0.25% interest rate reduction for automatic payments.

Who Should Get It: Graduate students who need a loan with low interest rates and flexible repayment terms.

• Low interest rates
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Pros:

• No application, origination, or prepayment fees
• Flexible repayment terms
• 0.25% interest rate reduction for automatic payments

Cons:

• Requires good credit or a cosigner
• No option for immediate principal and interest payments

10. SunTrust Graduate Student Loan

Why We Like It: The SunTrust Graduate Student Loan offers competitive interest rates and flexible repayment terms. Borrowers can choose to defer payments until after graduation or make interest-only payments while in school. The loan also offers a 0.50% interest rate reduction for automatic payments.

Who Should Get It: Graduate students who need a loan with competitive interest rates and flexible repayment terms.

• Competitive interest rates
• Flexible repayment terms
• 0.50% interest rate reduction for automatic payments

Pros:

• No application, origination, or prepayment fees
• Flexible repayment terms
• 0.50% interest rate reduction for automatic payments

Cons:

• Requires good credit or a cosigner
• Higher interest rates for longer repayment terms

Frequently Asked Questions

Are you planning to pursue higher education but struggling to cover the costs? Graduate school loans can be a great option to finance your education. Here are some common questions and answers about the 10 best graduate school loans:

1. What are some of the best graduate school loans available?

Some of the best graduate school loans available are Discover, Sallie Mae, and Wells Fargo. These lenders offer a variety of loan options and competitive interest rates, making them a popular choice among students. It is important to compare the terms and conditions of each loan before selecting the one that suits your needs.

When selecting a loan, consider the interest rate, repayment terms, and any fees associated with the loan. It is also important to check if the lender offers any discounts or benefits for timely repayments or automatic payments.

2. How much can I borrow with a graduate school loan?

The amount you can borrow with a graduate school loan depends on the lender and the type of loan you choose. Typically, graduate students can borrow up to the cost of attendance, which includes tuition, fees, books, and living expenses.

It is important to borrow only what you need and to keep track of your borrowing to avoid taking on excessive debt. Consider other sources of funding such as scholarships, grants, and part-time work as well.

3. What are the repayment options for graduate school loans?

Repayment options for graduate school loans vary depending on the lender and the type of loan. Some lenders offer fixed or variable interest rates, while others offer income-based repayment plans. It is important to understand the repayment options before selecting a loan.

If you are struggling to make your loan payments, consider contacting your lender to discuss options such as deferment, forbearance, or loan consolidation. These options can help you manage your debt and avoid defaulting on your loans.

4. How can I qualify for a graduate school loan?

To qualify for a graduate school loan, you typically need to have a good credit score and a steady source of income. Some lenders may also require a co-signer if you have limited credit history or income.

Before applying for a loan, check your credit score and credit report to ensure that there are no errors or negative information that could affect your loan approval. You may also consider improving your credit score by paying down debt or making timely payments on your existing loans and credit cards.

5. What should I consider when selecting a graduate school loan?

When selecting a graduate school loan, consider factors such as the interest rate, repayment terms, fees, and any discounts or benefits offered by the lender. It is also important to compare multiple lenders and loan options to ensure that you are getting the best deal.

Furthermore, consider your overall financial situation and your future career prospects when selecting a loan. If you plan to work in a low-paying field, for example, you may want to select a loan with more flexible repayment options or forgiveness programs.

As you embark on your journey towards pursuing higher education, it is important to consider all the financial options available to you. Graduate school loans can be a great resource to help you achieve your academic goals, but it is essential to choose the right loan for your unique needs.

After researching and analyzing various options, we have compiled a list of the 10 best graduate school loans available. These loans offer competitive interest rates, flexible repayment options, and other benefits that can help you succeed in your academic pursuits without breaking the bank.

Whether you are looking for a loan with low interest rates or one that offers generous repayment options, there is a graduate school loan on this list that can meet your needs. We hope this information has been helpful in your search for the right loan, and wish you all the best in your academic endeavors.