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For eligible professional students, federal Direct Unsubsidized Loans are generally capped at $50,000 per year and $200,000 in aggregate, although certain health-professions programs have additional rules and exceptions. If your nursing program costs more than your available federal aid, you may need another way to cover the remaining balance.
That's where private student loans come in. Private lenders can provide additional funding when federal loans and other resources don't cover your total education costs. However, private loans generally don't offer the same federal protections and benefits, so it's important to compare rates, fees, repayment terms and borrower protections before taking one out.
Below, we rounded up some of the best private student loans for nursing school. Note that eligibility may depend on your specific nursing program and school. You can read our methodology below.
Best student loans for nursing school
- Best for borrower benefits: SoFi
- Best for co-signer release: Edly
- Best for grace period: Ascent
- Best for no origination fee: Sallie Mae
Undergraduate and graduate students, parents, students in MBA, law, health professional and dental programs
Loan amounts$5,000 (or state-mandated minimum) up to the cost of attendance
Loan terms5, 7, 10, 15, years; up to 20 years for refinancing loans
LEARN MORESallie Mae Student LoanLoan typesUndergraduate, graduate, Master's, PhD, MBA, law school, medical school, health professions, dental school, medical and dental residency loans, bar study loans.
Loan amounts$1,000 up to 100% of the cost of attendance
Terms10 to 15 years
LEARN MOREBest for borrower benefits: SoFi
SoFi® Private Student Loans (New Borrowers)
Learn MoreLearn MoreTerms5, 7, 10, 15 years; refinancing loans up to 20 years
Loan amounts$5,000 (or state-mandated minimum) up to the cost of attendance
Annual Percentage Rate (APR)2.99% APR to 15.99% APR with 0.25% autopay discount (Fixed Undergraduate New Loan). Other rates and loan types are available. Visit SoFi's website for full details.
Pros & cons
- $25/month partial interest payment option available while you are enrolled at least half-time
- 0.25% interest rate discount for autopay
- Co-signers eligible for release after 12 consecutive payments
- Offers a $250 bonus to eligible borrowers with a 3.0 GPA or better
- Existing SoFi members may qualify for an additional rate discount
- Good to excellent credit is typically required for approval
- $5,000 minimum loan amount is higher than other lenders' minimums.
More details
Interest Rates: Eligibility and Important Details. Fixed rates range from 2.99% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 4.64% APR to 15.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 9/3/2026 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases.
Who's this for? SoFi is a good fit for borrowers who value extra member benefits alongside their student loan. Members can get access to career coaching, personalized financial planning and a discount on additional SoFi loans.
Standout benefits: SoFi offers deferment and forbearance options for eligible borrowers, which aren't available from every private lender. It also offers hardship options that may allow eligible borrowers experiencing unemployment or other financial difficulties to temporarily reduce or postpone payments.
Best for co-signer release: Edly
Edly Student Loans
Learn MoreEligible borrowers
Qualifying juniors, seniors and graduate students
Loan amounts
$2,000 up to $15,000 per academic year and up to $10,000 for summer terms; ($20,000 lifetime limit)
Loan terms
84 months
Loan types
Variable
Borrower protections
Deferment and forbearance; all loans are based on income-based repayment
Co-signer required?
No
Terms apply.
Pros
- Considers borrowers' schooling and programs
- All loan payments are income-based
- Hardship protections available
- No co-signer required
- Student success team and career counselors available for support
Cons
- Only 7-year loan terms
- Only variable-rate loans
- Not available in every state
- Non-cosigned loans tend to charge higher interest rates
Who's this for? Edly may be a good fit for borrowers who want the option to release a co-signer relatively quickly. Eligible borrowers can request co-signer release after making six consecutive, in-full monthly payments after graduation, subject to credit and other requirements. That's the shortest payment requirement among the lenders on this list.
Standout benefits: Edly's student loans use income-based repayment, meaning your monthly payment adjusts based on your income. Edly also offers deferment and forbearance options for eligible borrowers facing financial hardship.
Best for grace period: Ascent
Ascent Funding
Learn MoreLearn MoreTerms5, 7, 10, 12, 15, 20 years
Loan amountsUp to $200,000 for undergraduate loans and $400,000 for graduate loans
Annual Percentage Rate (APR)Fixed rates from 6.75% to 15.81% APR* with autopay discount (Undergraduate New Loan). Other rates and loan types are available. Visit Ascent's website for full details.
Pros & cons
- Considers borrowers with no credit
- High loan limit
- Co-signer release available after just 12 payments
- Up to 1% interest rate discount for autopay*
- 1% cash back rewards*
- Considers alternative requirements like the borrower’s school, program, graduation date, major, GPA, cost of attendance and Satisfactory Academic Progress (SAP) to grant approval
- Maximum fixed APR is on the high side
- Doesn't offer student loan refinancing
More details
Disclosure:*Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 7/15/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower's credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
Who's this for? Ascent may be a good fit for borrowers who want more time before repayment begins. Its graduate and health-profession loans offer a 9-month grace period, compared with the six months that's more common among private lenders.
Standout benefits: Ascent offers benefits including a 0.50% to 1.00% automatic payment discount, college and career coaching, the option to apply for co-signer release after 12 consecutive on-time payments and more.
Best for no origination fee: Sallie Mae
Sallie Mae Student Loan
Learn MoreLearn MoreTerms10 to 15 years
Loan amounts$1,000 up to 100% of the cost of attendance
Annual Percentage Rate (APR)From 2.08% to 17.49% APR (fixed) and 3.75% to 16.95% APR (variable). Rates are based on creditworthiness, with lower rates requiring a cosigner and immediate repayment. Other rates and loan types are available. Visit Sallie Mae's website for full details.
Pros & cons
- Loans available to part-time and continuing ed students
- Co-signer release after just 12 payments
- No origination fee
- Offers loans for a wide variety of educational needs including: bar study, medical school, residency and relocation costs, dental school, residency and relocation costs, nursing school/health professions, commercial flight school, coding boot camp and professional certifications
- No student loan refinancing
- Doesn't offer parent loans
- Hard credit check to prequalify
- Late payment fee
Who's this for? Sallie Maedoesn't charge origination fees on its student loans, which is a fee some lenders charge to process a loan and it can reduce the amount you receive.
Standout benefits: Eligible borrowers can defer payments for up to 48 months during residency or fellowship, depending on the loan. Keep in mind that interest continues to accrue during deferment, which can increase the total cost of the loan.
How long does it take to remove a co-signer from a student loan?
The number of monthly payments a borrower must make before they can release their co-signer varies by lender. The fewest we've found is six months, but with some lenders, you may have to wait at least 1 to 2 years to be eligible for a co-signer release.
Do nursing school loans have fees?
Fees can vary by lender. Some lenders don't charge origination fees or application fees, but you should always double check the terms of your loan before accepting an offer.
Can you defer payments for nursing school loans?
Some lenders offer a grace period of 6 or 9 months after graduation to help you transition back into making loan payments. Other lenders may offer special deferment periods while you're in a residency program.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every student loan list is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of student loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Our methodology
To determine which private student loan providers offer the best loans for nursing school, CNBC Select compared dozens of lenders and categorized them by best for borrower benefits, best for co-signer release, best for grace period and best for no origination fee.
We also rated them on criteria, including:
- Funding amounts available
- Application requirements, including credit score and income requirements
- The number of payments before a co-signer can be released
- Interest rates on student loans
- Automatic payment discounts
- Whether it charges application and origination fees or a prepayment penalty
- The variety of loan repayment terms available
- Whether borrowers can access hardship relief, including deferment and forbearance
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Read more
How to choose the right private student loanThe best student loans for bad creditPrivate student loans that come with cash back, discounts and other rewardsInterest Rates: Eligibility and Important Details. Fixed rates range from 2.99% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 4.64% APR to 15.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 9/3/2026 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases.
Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments as outlined in your loan agreement by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. When the autopay interest rate deduction is added or removed, the next time the loan is re-amortized (quarterly for fixed rate loans; monthly for variable rate loans),the principal balance of your loan will be spread over the remaining loan term, and your monthly payment amount will change. This benefit is suspended during periods of deferment, grace period, or forbearance. Autopay is not required to receive a loan from SoFi.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.Latest
