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ClearValue Lending

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Student Loans

Private student loans, refinance loans, and parent-loan products — ranked by APR by credit band, deferment policy, and federal-loan compatibility.

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Guides

What to know before you compare

Student loans split into federal (subsidized, unsubsidized, PLUS, Direct Consolidation) and private. Federal loans always win on borrower protections (income-driven repayment, PSLF, deferment) — exhaust federal before private. Private loans become relevant for funding gaps beyond federal limits and for refinancing high-APR federal balances when borrower-protection trade-offs are acceptable.

The buying guides below rank private origination + refinance lenders by APR, term, and credit-box flexibility.

Frequently asked questions

What is the difference between federal and private student loans?+

Federal student loans are issued by the U.S. Department of Education and come with borrower protections: fixed rates set by Congress, income-driven repayment plans, deferment and forbearance options, and forgiveness programs like Public Service Loan Forgiveness. Private student loans come from banks, credit unions, and online lenders, are priced on creditworthiness, and generally lack those protections. The common guidance is to exhaust federal options before borrowing private.

Should you exhaust federal loans before taking private student loans?+

Generally yes. Federal loans offer income-driven repayment, deferment, forbearance, and forgiveness paths that private loans typically cannot match, and they do not require a credit check for most undergraduate loans. Private loans become relevant mainly to cover funding gaps after federal limits are reached, or to refinance high-rate balances when you are comfortable trading away federal protections. Each borrower's situation differs, so weigh the protections you may need.

Do you need a cosigner for a private student loan?+

Many undergraduates need a cosigner because they lack the credit history and income lenders require. A creditworthy cosigner — often a parent — can improve approval odds and secure a lower rate. The cosigner shares legal responsibility for the debt, and the loan appears on their credit report. Some lenders offer cosigner release after a set number of on-time payments, letting the borrower assume the loan alone.

Should you refinance your student loans?+

Refinancing replaces existing loans with a new private loan, ideally at a lower rate. It can save money for borrowers with strong credit and stable income, especially on high-rate private balances. The major caution: refinancing federal loans into a private loan permanently forfeits income-driven repayment, forgiveness eligibility, and federal deferment options. Borrowers who may need those protections often keep federal loans federal and refinance only private debt.

What is the difference between fixed and variable rate student loans?+

A fixed-rate loan keeps the same interest rate for the entire repayment term, making payments predictable. A variable-rate loan starts lower but can rise or fall over time as an underlying index moves, so payments and total cost are uncertain. Fixed rates suit borrowers who want stability and plan a longer payoff; variable rates can favor those confident in repaying quickly before rates climb.

When do you start repaying student loans?+

Most federal student loans offer a grace period — commonly six months after you graduate, leave school, or drop below half-time enrollment — before repayment begins. Private loan terms vary; some require payments while you are still in school, others offer deferment until after graduation. Interest may still accrue during grace or deferment periods, depending on the loan type, so check whether your loans are subsidized or unsubsidized.

https://clearvaluelending.com/loans/student

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