Best California Student Loans for 2023

Earnest is a leading private lender founded in 2013. They offer private student loans and student loan refinancing, with transparent loan requirements and an easy application. Loans are available to California residents as well as students across the U.S.

With Earnest you get flexible repayment periods, extending up to 15 years, with the choice between full deferment, fixed repayments, or interest-only payments. The interest rates for their loans start at 4.45% APR, and students can secure loans covering up to 100% of their school-certified cost of attendance.

Although there is a nine-month grace period, Earnest does not offer a cosigner release option, which may be a drawback for some borrowers.

College Ave was established in 2014 and is known for its individualized approach to lending. They specialize in custom private student loans and refinancing options for undergraduate and graduate students in California and the rest of the U.S.

With competitive interest rates starting as low as 4.44% APR, College Ave loans can cover up to the full cost of attendance certified by your school. The repayment terms are flexible, with options spanning up to 15 years. Borrowers have the choice of full deferment, $25 monthly payments, or interest-only payments.

After making 24 full and consecutive payments, borrowers can request a cosigner release, providing them with increased financial independence and autonomy.

Founded in 2015, Earnest is an online lender that offers private student loans to graduate and undergraduate students. One of the benefits of Ascent’s student loans is that they don’t require a cosigner, making their loans more accessible to borrowers.

Applicants also don’t have to be U.S. citizens, making it an excellent option for international students looking for private student loans at competitive rates.

Ascent student loans have flexible repayment terms of up to 20 years, with fixed APRs starting at 4.62% and a 1% cash-back graduation reward when borrowers meet certain criteria.

Established in 1972, Sallie Mae is one of the most well-known private student lenders in the United States. Catering to a wide range of borrowers, including undergraduates, graduates, parents, and those seeking career training, the company offers diverse student loan options.

Sallie Mae provides comprehensive coverage, extending up to 100% of the school-certified cost of attendance. Their loans can be used for various education-related expenses such as off-campus housing, computers, software, bedding, towels, books, supplies, transportation, and class equipment.

For borrowers seeking cosigners, Sallie Mae stands out by offering the fastest route to cosigner release. Additionally, their multiyear advantage ensures favorable approval chances for current borrowers who have cosigners.

Starting at an interest rate of 4.50%, Sallie Mae’s loan options come with flexible repayment terms, which can extend up to 20 years. Moreover, borrowers can enjoy a 0.25% interest rate reduction for enrolling in automatic payments. Sallie Mae also provides several deferment options, including full deferment, $25 monthly payments, or interest-only payments.

Students are granted a six-month grace period before repayment begins, and for those with cosigners, cosigner release is made available after making 12 payments.

SoFi is a personal finance company and bank founded in 2011. As a leader in student financing, the company offers private student loans and refinancing, as well as other financial products like personal loans and credit cards.

SoFi was the first lender to refinance private and federal student loans together. They also offer free career coaching and getting a rate estimate won’t affect your credit.

Student loans from SoFi come with rates starting at 4.99% and repayment terms of up to 20 years. Repayment options include interest-only, flat-fee, and deferred. There are no late fees, prepayment penalties, or application fees.

Cosigner releases are available after 24 on-time, full monthly payments.