Best New Jersey Student Loans

Since its start in 1972, Sallie Mae has become one of the most recognized private student loan lenders in the US. It has a wide range of loan options for undergraduates, graduates, parents, and those pursuing career training.

Sallie Mae provides up to 100% of your school-certified cost of attendance. For borrowers seeking cosigners, Sallie Mae stands out by offering the fastest route to cosigner release.

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.

Borrowers can also enjoy a 0.25% interest rate reduction for enrolling in automatic payments. Sallie Mae 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.

College Ave, established in 2014 and headquartered in Washington, is known for its direct and individualized approach, which makes it an appealing choice for borrowers. This lender specializes in providing custom private student loans and refinancing options for undergraduate and graduate students as well as parents.

College Ave offers competitive interest rates, starting as low as 4.44% AOR, and they 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 2013, Earnest is a leading fintech lender that initially offered student loan refinancing, before expanding its products to include private student loans. One of Earnest’s notable strengths lies in its commitment to transparency regarding loan requirements, ensuring that students can easily determine their eligibility.

Earnest’s loan options feature flexible repayment periods, which can extend up to 15 years. Borrowers have the choice between full deferment, fixed repayments, or interest-only payments, providing them with versatility in managing their finances. 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.

Citizens Bank is one of the largest banks in the U.S. and was founded in 1828. The bank offers private student loans and refinancing, as well as personal and business financing products. Citizens Bank offers multi-year approvals, enabling students to fund their four-year stay in college with only one application.

Undergraduate loans start at 4.43% APR with repayment periods of up to 15 years. Getting a quote takes a few minutes and doesn’t require a hard credit check.

Private student loans from Citizens Bank are available from $1,000 up to the total cost of education. Cosigners are optional and there are no origination fees, no application fees, and no penalty fees for early repayment.

MPOWER Financing, established in 2014 and headquartered in Washington, provides private student loans to both local and international students. These loans are especially attractive to students since they don’t necessitate a cosigner or a strong credit record.

Another benefit of MPOWER is that borrowers can get a 1.5% interest rate reduction with six automatic on-time payments, proof of graduation, and proof of employment.

MPOWER loans come with fixed APRs starting at 14.75% and loan terms go up to 10 years. The maximum loan amount is $100,000 and there is a 5% origination fee.