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Private Student Loans

What is a Private Loan?

Private loans are typically made through private banks, credit unions, state agencies, or financial institutions. They may have rates and terms that are different from federal loans. If you’re considering applying for a private loan, be sure that you’ve taken advantage of all federal aid opportunities first. There are two types of private education loans:

Student Loan (In School)

When federal aid isn’t enough to cover the cost of higher education, private student loans can help. Before taking out a private loan, make sure to take advantage of any federal student loans, grants, or scholarships you have access to. If you’re currently attending school, a private loan can help you made up the difference.

Private student loans are available to students pursuing higher education at all levels:

  • Undergraduate
  • Graduate
  • Law
  • MBA
  • Health Professions

Student Loan Refinance

If you graduated with student loans, refinancing could reduce your monthly payments. Your existing loans will be simplified into a single loan with a potentially lower interest rate — so you’ll make one payment each month rather than managing multiple balances.

Keep in mind that you may lose federal loan benefits when you refinance. Make sure refinancing is the right choice for you.

Find a Private Loan

For more than 40 years, Nelnet has helped students finance their education

That’s why we are proud to offer private student loans through U-fi From Nelnet. These loans are for students needing to fill the gaps not met by federal financial aid, or who may be looking to refinance their student debt. Learn more about each of these loan types below.

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Student Loan Refinance

Simplify your loans into one monthly payment while potentially saving on your interest rate.

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Student Loans

Reach your educational goals by focusing on your studies, not your finances.

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Private undergraduate, graduate, and refinance loans offer a variety of benefits, including:

  • Low variable and fixed interest rate options
  • Interest rate reduction incentives
  • Available to U.S. citizens and permanent residents, as well as non-residents with eligible U.S. citizen or permanent resident co-signer
  • Loans serviced by private companies like Nelnet, a leading servicer for the U.S. Department of Education’s federal student loan program

U-fi From Nelnet® is a registered trademark of Nelnet, Inc., for products and services provided by Nelnet Consumer Finance, Inc. You should exhaust lower-cost federal borrowing options before turning to non-federal loans. You are, of course, not limited to seeking loans or other products from, and are free to obtain information and loans from all other providers of student loans and related products.

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