How to Choose the Best Student Loan Provider By taking out a loan through Earnest, you can borrow up to the total cost of attendance and take advantage of an extended grace period. It offers a range of loan options for students and parent borrowers, and it even offers student loan refinancing. Our pick for the best overall lender is Earnest. Others, such as ISL Lending, are direct lenders for undergraduate and graduate students. Some, such as Credible or Splash Financial, are marketplaces that connect you to multiple lenders. There are many private student loan companies out there. If you reach the borrowing limits for federal student loans or aren’t eligible for federal aid, private loans can be a tool you can use to finance your education. Juno connects borrowers to loans from leading lenders, and it also works with lenders that lend to international and DACA students. And if you find a lower rate elsewhere, Juno’s partners will match that rate and give you 1% of the loan amount as a cash-back bonus. Some of Juno’s partners offer additional incentives, such as cash-back bonuses. Make sure you start the process well ahead of time so you have the money you need to pay for school. Keep in mind that Juno works by negotiating as a group, so you cannot get a loan instantly. As a result, you may be eligible for lower interest rates than you’d get shopping on your own. It uses that group to negotiate loan terms with its partner lenders. When you join Juno, it places you in a group of similar borrowers. There isn’t usually an advantage to using a marketplace other than being able to compare offers from several lenders at once. With typical student loan marketplaces, you submit a pre-qualification form, undergo a soft credit check, and are shown offers from the platform’s partner lenders.
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