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Top Student Loans with Low Interest Rates in July 2024 – Forbes Advisor

Best Low-Interest Student Loan Options

In a recent study conducted by Forbes Advisor, the best low-interest student loan options were analyzed and ranked based on various criteria. Among the top contenders were Ascent, Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, SoFi, College Ave, Citizens Bank, Sallie Mae, and PNC Bank.

Ascent stood out for offering both co-signed and non-co-signed student loans, providing borrowers with more college funding options. They also offered a range of payment reduction and postponement options, making it easier for graduates to manage their loan repayments. Ascent was recognized as one of the best private student loan providers in 2021 by Forbes Advisor.

Federal Direct Subsidized Loans were highlighted for being the cheapest and most flexible option for undergraduate and graduate students. These loans offer low fixed interest rates and various repayment and forgiveness options, making them a popular choice among borrowers.

SoFi, College Ave, Citizens Bank, Sallie Mae, and PNC Bank also made the list for their competitive interest rates, loan terms, and borrower benefits. Each lender had unique features that set them apart in the student loan market.

When comparing low-interest student loans, it’s essential to consider factors such as creditworthiness, loan terms, and repayment options. Federal loans are recommended for their standardized interest rates, while private loans may offer lower rates for borrowers with excellent credit.

Overall, the study emphasized the importance of researching and comparing different student loan options to find the best fit for individual financial circumstances. By understanding the criteria used to evaluate these lenders, borrowers can make informed decisions when choosing a low-interest student loan.


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