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What are my private student loan options?

U-fi from Nelnet Student Loans


A U-fi From Nelnet Student Loan covers costs that aren’t met by federal student loans, grants, or scholarships. Offering low rates, no origination fees, and multiple repayment options, U-fi From Nelnet supports the diverse needs of today’s student borrower.

Apply for a U-fi from Nelnet Student Loan


  • Variable rates as low as 1.23% APR1
  • Fixed rates as low as 3.55% APR1
  • Borrow what you need - from $1,000 up to the cost of your attendance2
  • Apply with a cosigner for the best rate and lower payments. Then, take responsibility of the loan with cosigner release3 after 24 consecutive, on-time payments.
  • Flexible repayment options - including immediate repayment, interest-only repayment, and deferred repayment
  • No origination or application fees

Apply with a Cosigner for the Best Rate

Cosigners help you qualify for private student loans and may help reduce your interest rate. As a student, it's likely you'll need a trusted individual with a solid credit score to act as your cosigner.


1Fixed interest rates range from 3.55% APR (with auto debit discount) to 12.39% APR (without auto debit discount).Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan.

Variable interest rates range from 1.23% APR (with auto debit discount) to 12.28% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. The variable interest rate is equal to the One-Month London Interbank Offered Rate (“One-Month LIBOR”) plus a margin. The One-Month LIBOR in effect for each monthly period (from the first day of the month through and including the last day of the same month) will be the highest One-Month LIBOR published in The Wall Street Journal “Money Rates” table on the twenty-fifth (25th) day (or if such day is not a business day, the next business day thereafter) of the month immediately preceding such calendar month. The Annual Percentage Rate (APR) for a variable interest rate loan will change monthly on the first day of each month if the One-Month LIBOR index changes. This may result in higher monthly payments. The current One-Month LIBOR index is 0.18% as of July 1, 2020.

The lowest interest rate for each loan type requires automatically withdrawn (“auto debit”) payments, a five-year repayment term for both graduate and undergraduate loans, and the borrower making immediate principal and interest payments. The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the repayment option and loan term selected, and (3) the loan type selected. If approved, applicants will be notified of the rate qualified for within the stated range.

2Undergraduate Loan Limits:

  • Minimum loan amount: $1,000
  • Maximum student loan limits: $125,000

Graduate Loan Limits:

  • Minimum loan amount: $1,000
  • Maximum student Loan limits:
  • Graduate or doctorate degree: $175,000
  • MBA or graduate law degree: $175,000
  • Graduate health professions degree: $500,000

3Cosigner Release

Request for the cosigner to be released can be made by the borrower after 24 consecutive, on-time payments (not later than 15 days after the due date) of principal and interest have been made. The borrower must be current on their payments at the time of the cosigner release request and show the ability to assume full responsibility of the loan(s) by meeting certain credit criteria on their own at the time of the request, including, but not limited to, being a U.S. citizen or having permanent residency in the United States, being the age of majority in their permanent state of residency, providing sufficient proof of income, and having no student loans in default.

What are my private student loan options?