Not Sure Where To Start?
One question. Seven possible paths. Find the right articles for your financial situation in seconds.
Abe Student Loans
Prior to pursuing a private student loan, experts at DR Bank and Monogram LLC strongly advise exploring every possible avenue of financial assistance first. This includes pursuing grants, scholarships, and federal student loan programs to ensure borrowers maximize less expensive or more favorable options.
The Abe student loan product is provided by DR Bank, which is a Member FDIC and serves as the Lender. Every loan application undergoes individual evaluation and must comply with the Lender’s specific underwriting standards. Various program limitations, along with additional terms and conditions, are in effect. Both the Lender and Monogram LLC maintain the authority to alter or terminate products and associated benefits at any point without prior notification. All terms, conditions, and applicable rates remain subject to potential modifications without advance notice.
To determine potential rates and available loan choices, DR Bank, with the borrower’s permission, conducts a soft credit pull. Importantly, these soft inquiries leave credit scores unaffected. Any presented rates or loan options represent preliminary estimates exclusively.
Interest rates and Annual Percentage Rates (APRs) hinge on multiple factors: (1) the credit profiles of the student borrower and any cosigner involved; (2) the chosen repayment plan and duration; (3) the anticipated deferment duration in years; (4) the loan amount requested; and (5) supplementary details submitted via the online application process. These rates and terms became active starting January 1, 2026. For variable-rate loans, the monthly rate calculation adds the 30-Day Average Secured Overnight Financing Rate (SOFR) index to a fixed margin tailored to the loan. As of February 1, 2026, the SOFR index stands at 3.75%, according to the Federal Reserve Bank of New York’s website. Note that the index or margin for variable loans can fluctuate, potentially leading to APR variations from initial quotes. Fixed rates remain stable unless legally mandated changes occur, or if the borrower qualifies for a rate reduction or activates In-School Default Protection features.
APRs shown as ranges presume a $10,000 loan issued in a single disbursement. The lowest APRs in the range correspond to a 7-year repayment period using the Interest-Only Repayment option, where payments commence 30-60 days post-disbursement through automatic debit. Conversely, the highest APRs reflect a 5-year term with Interest-Only payments, incorporating a 31-month deferment and a subsequent six-month grace period prior to full repayment.
Autopay benefits include a 0.25% rate reduction for setting up automatic payments from a linked bank account. Borrowers access this discount by submitting the direct debit authorization form on the Servicer’s portal. It stacks with other available discounts and activates once bank details are verified. However, the discount pauses if automatic payments are halted or during non-payment phases like deferment. Permanent cancellation occurs after three failed automatic deductions from the bank.
In-school Default Protection applies to Interest-Only or Flat Payment Repayment loans that fall 90 days or more behind during deferment. Such loans shift automatically to Full Deferment Repayment. This adjustment raises the interest rate on original Interest-Only loans by 1.00 percentage point and on Flat Payment loans by 0.25 percentage point. Credit reports prior to this switch retain their status. Accrued unpaid interest at deferment’s end could capitalize per the Credit Agreement terms.
Loan sizes start at a minimum of $1,000, with exceptions: Iowa permanent residents require at least $1,001, while Massachusetts residents need $6,001 minimums for students or cosigners. Annual maximums for in-school costs equal the school’s certified cost of attendance minus other aid. No request can push an applicant’s total student debt—federal plus private—beyond $225,000. Specialty graduate loans (covering Dental, Medical, Healthcare, Law, or MBA programs) cap aggregate debt at $350,000.
Repayment terms of 15 or 20 years, paired with Flat Payment options ($25 monthly during deferment), require loans of $5,000 or higher. Interest-only or flat payments in deferment do not diminish principal. Sample calculations assume 14-month deferment, six-month grace, no autopay discount, and Interest-Only repayment: A $10,000 loan over 5 years (60 months) at 9.30% APR yields $209.04 monthly principal-plus-interest. For 7 years (84 months) at 6.50% APR, it’s $148.49 monthly. A 10-year term (120 months) at 6.35% APR results in $112.76 payments. Extending to 15 years (180 months) at 6.30% APR means $86.02 monthly, and 20 years (240 months) at 8.38% APR also $86.02.
Cosigner release eligibility demands the student borrower satisfy credit criteria and complete 12 consecutive on-time principal-plus-interest payments—or equivalent lump sums—within any 12-month window. Applications are ineligible during reduced repayment plans or pending such requests.
Standard grace lasts six months, starting at the earliest of graduation, enrollment cessation, or 60 months post-first disbursement—but no sooner than six months after. Immediate repayment skips grace entirely.
Ascent Student Loans
Ascent offers undergraduate and graduate loans funded through Bank of Lake Mills or DR Bank, both FDIC members. Availability varies by jurisdiction, with specific restrictions, limits, terms, and conditions in place.
Annual Percentage Rates (APRs) listed took effect on February 1, 2026, and incorporate an Automatic Payment Discount via ACH. This discount varies: 0.25% for credit-based college loans applied before June 1, 2025; 0.50% for those submitted on or after that date; and 1.00% for outcomes-based loans upon autopay enrollment. Individual approval is required, alongside applicable restrictions and conditions. Advertised features target college loans and may evolve. Final approvals depend on credit history, school-certified cost of attendance, and verified application data. Optimal rates demand immediate full principal-interest payments, shortest terms, cosigner support, and top-tier credit profiles. Actual APRs might differ based on school time and grace periods; variable rates can rise post-origination. A 1% Cash Back Graduation Reward carries its own terms.
Minimum loan amounts begin at $2,001 nationwide, except Massachusetts residents who face a $6,001 threshold.
Sallie Mae Student Loans
Displayed rates target undergraduate and career training students, incorporating an auto debit discount. For undergrads, APRs assume a $10,000 loan over four years with no prior Sallie Mae loans. Variable rates track the 30-day Average SOFR, rounded to the nearest one-eighth percent, and may shift beyond initial ranges. Interest accrues from fund disbursement to school. Fixed and Deferred Options carry higher rates than Interest Repayment, with unpaid interest capitalizing post-grace/separation. A 0.25% rate cut requires auto debit enrollment, applicable during active repayment if withdrawals succeed monthly; it pauses in forbearance or deferment. These rates activate January 26, 2026.
Cost illustrations for a $10,000 Smart Option Loan use common fixed rates, fixed repayment, six-month separation, and two disbursements. No-prior-loans borrower with four-year schooling: 10.28% fixed APR, 51 payments of $25, 119 at $182.67, final $121.71, totaling $23,134.44. With $20,000 prior loans and two-year schooling: 10.78% APR, 27 payments of $25, 179 at $132.53, final $40.35, totaling $24,438.22. Loans below $50 minimum principal-interest may shorten to under 10 years.
Direct Sallie Mae applications cap at school-certified cost of attendance minus aid. Partner-site submissions might limit further. Half-time students can factor miscellaneous costs like laptops into attendance.
