Nelnet Bank Private Student Loans

Start your educational journey on the right path and find help paying for your education with a private student loan.

Apply for a Student Loan from Nelnet Bank

Student Benefits

Simple application process
See your rate in minutes without affecting your credit score²
Auto debit savings³
Flexible repayment plans and multiple loan terms available
No application fees and no origination fees
Easy cosigning options

Nelnet Bank

Fixed APR 3.69% - 9.82%¹

Variable APR 5.83% - 10.16%¹

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Featured Lender

Simple application process
See your rate in minutes without affecting your credit score²
Auto debit savings³
Flexible repayment plans and multiple loan terms available
No application fees and no origination fees
Easy cosigning options

Nelnet Bank (Member FDIC)

Lowest rates shown already include an auto debit discount.

¹ Fixed interest rates range from 3.69% APR (with auto debit discount) to 9.82% 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 5.83% APR (with auto debit discount) to 10.16% 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. Variable rates for Nelnet Bank Student Loans are calculated using either (a) the One-Month SOFR; (b) the 30-day Average SOFR; or (c) the forward-looking term rate based on SOFR as published by the Federal Reserve Bank of New York and/or The Wall Street Journal “Money Rates” table on the twenty-fifth day (or the next business day) of the immediately preceding calendar month. The variable rate may reprice and change on the first day of each month if the SOFR index changes. This may result in higher monthly payments. The current One-Month SOFR index is 4.70% as of December 1, 2024. The lowest interest rate for each loan type requires automatically withdrawn (“auto debit”) payments. The lowest rate is available only to the most creditworthy applicants. Not all borrowers will receive the lowest rate. 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.

² Credit Score: Checking your rate results in a soft credit pull, which will not affect your credit score. If you continue with your application, Nelnet Bank will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.

³ Auto Debit: Interest rate reduction of .25% for automatically withdrawn payments from any designated bank account (“auto debit discount”). Auto debit discount applies when full payments (including both principal and interest), interest only and fixed pay are automatically drafted from a bank account. The auto debit discount will continue to apply during periods of approved forbearance or deferment if the auto debit discount was in effect at the time of receiving the forbearance or deferment. Auto debit discount will remain on the account unless (1) the automatic deduction of payments is canceled or (2) there are three consecutive automatic deductions returned for insufficient funds at any time during the term of the loan.

Student Loan Eligibility: You must be a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. All applicants must be the legal age to enter into binding contracts in their state of residence or territory. Non-residents can apply with an eligible cosigner who is a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. Student must be enrolled at least half-time at a Title IV program at an eligible school. You must not have defaulted on any student loan. Approval subject to credit review. Other credit criteria may apply.

Undergraduate Loan Amounts*:

Minimum loan amount: $1,000
Maximum loan amount: $125,000

Graduate Loan Amounts*:

Minimum loan amount: $1,000
Maximum Loan amount:

Graduate or doctorate degree: $175,000
MBA or graduate law degree: $175,000
Graduate health professions degree: $500,000

*Maximum loan amounts are subject to limits on total student loan debt

This referral partner is not the creditor of Nelnet Bank loans and may receive compensation from Nelnet Bank for the referral of Nelnet Bank loan customers.

Before taking out a private student loan, make sure to take advantage of any federal student loans, grants, or scholarships you have access to. Federal student loans often include benefits and lower interest rates, so be sure to consider all of your options before applying for a private student loan.

Eligibility

You or your cosigner must be a U.S. citizen or have permanent residency status with a valid U.S. Social Security number.
You must be enrolled at least half-time at a Nelnet Bank-eligible school for the loan period you are applying for.
A mid to high 600 FICO score is required for you or your cosigner.
You must be of the age to enter a binding contract in your state of residence or territory.

Disclaimers