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Steps To Choosing The Best Student Loan In 2024

Parent PLUS Loan rates have gone up again for this season...they are now 9.08% for all borrowers....plus a 4% origination fee. 

Private Loans May be an interesting alternative. Borrowers with good credit can get rates starting just under 5% with no fees.  Below you’ll find a link to a student loan marketplace, where you can compare and get pre-approved.  One of the lenders, Earnest, actually has a Rate Match Guarantee. You’ll also see our suggestion on steps you can take to help ensure you choose the right student loan.

Step-By-Step Guide To Choosing the Best Student Loan In 2024:

Step 1: Apply through Ascent to get your rate - CLICK HERE  

    • Low fixed intro rate starting at 3.69%
    • 4 easy steps without impacting your credit score

Step 2: Apply through College Ave to get your rate - CLICK HERE  

    • 3 minutes to apply

Step 3: Apply through Sallie Mae to get your rate - CLICK HERE  

    • No origination fee or penalty for prepayment, competitive rates

Step 4: Compare your private rates to the Federal PLUS loan* and to 3 state loan options; Massachusetts, Rhode Island, Iowa.

Lender Fact Sheet

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Ascent

  • Fixed rates starting at 3.79 Annual Percentage Rate (APR)

  • Access to expert coaching, paid internship opportunities, and career-prep resources with AscentUP6

  • Zero fees – no application, origination, disbursement, early repayment, or late fees

  • 1% cash back at graduation and a 0.25% - 1.00% autopay discount

  • 12-month co-signor release program
  • Disclosures
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College Ave

  • Apply in as little as 3 minutes and get an instant credit decision
  • Multiple repayment options from deferred to immediate principal and interest
  • Choice of how long you take to repay the loan - 5, 8, 10, or 15 years
  • 0.25% interest rate reduction when you make required payments by automatic debit
  • Borrow up to 100% of your cost of attendance (minimum $1,000)
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Sallie Mae

  • Lowest rates shown include 0.25 percentage point interest rate discount with auto debit payments.
  • Applying online is easy - you could receive a credit result in about 10 minutes.
  • Multiple repayment options from in-school payments to deferred. No origination fee or prepayment penalty.
  • Borrow up to 100% of school-certified expenses, whether you're online or on campus.
  • Last year, students were 4x more likely to be approved with a cosigner.

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