Compare the Best Graduate Student Loans for August 2025 in Minutes

Graduate student loans help cover the cost of advanced degrees, including master's, doctoral, and professional programs. These loans can be used for tuition, fees, books, housing, transportation, and other education-related expenses. There are two main types of graduate loans: federal loans offered by the government, and private loans offered by banks, credit unions, and online lenders.

1. Get prequalified graduate loan rates

With Credible, you can compare graduate student loan rates from multiple private lenders at once - with no impact on your credit score. Just enter your basic personal and school information to instantly see prequalified rates and estimated loan terms from top lenders that match your profile.

2. Compare top graduate student loan lenders

Evaluate private lenders side-by-side to find the best graduate school loan for your needs. Look at interest rates (fixed vs. variable), repayment plans, any fees, borrower perks (like rate reductions or forbearance options), and customer satisfaction ratings.

3. Choose the best graduate school loan option

Once you've compared lenders, select the private graduate student loan that aligns with your budget and academic goals. Decide whether to apply with a cosigner, which may help you qualify for a better rate. If so, gather their contact and financial details for the next step.

4. Complete your graduate school loan application

To apply for a graduate student loan, first prepare the necessary documentation, such as a government-issued ID, proof of income (like pay stubs or tax returns), and enrollment verification. Then fill out the graduate loan application, upload your documents, and submit for lender approval.

Federal graduate school loan limits (2025-26 school year)

• Direct Unsubsidized Loans: $20,500 annually; $138,500 aggregate (including undergraduate debt)
• Grad PLUS loans: Up to the full cost of attendance (minus other financial aid received)

Private graduate school loan limits

Most private lenders match your school's certified cost of attendance, minus other financial aid you've received, such as federal loans, scholarships, or grants. The cost of attendance is determined by your school and goes beyond tuition and fees to include housing, meals, books, transportation, and other expenses related to your education.

To qualify for a private student loan for graduate school, you'll need to meet specific credit and income requirements. Private lenders usually look for a minimum credit score of around 670, along with steady income and a manageable debt-to-income ratio (DTI). Your enrollment status — such as being at least half-time in an eligible graduate or professional program — and the school you attend can also affect whether you qualify for a grad school loan.

If you have limited or no credit history, applying with a creditworthy cosigner can significantly improve your chances of approval. A grad school loan cosigner may also help you qualify for lower interest rates, potentially saving you thousands over the life of the loan.

To be eligible for federal student loans for graduate school, you must meet certain basic requirements. This includes being a U.S. citizen or eligible noncitizen, having a valid Social Security number, and enrolling at least half-time in an eligible graduate or professional degree program. You also need to maintain satisfactory academic progress as defined by your school.

Most federal student loans don't require a credit check. Grad PLUS loans, which do involve a credit review for adverse credit events, are the exception. Federal Direct Unsubsidized Loans are available to most graduate students regardless of income.

When you borrow money to pay for graduate school, interest is the cost you pay to the lender in exchange for the loan. It's usually calculated as a percentage of your outstanding principal balance and is expressed as an annual percentage rate, or APR.

For both federal and private graduate student loans, interest typically accrues daily using a simple interest formula, meaning it's calculated only on your current principal balance, not on previously accrued interest. Each monthly payment is first applied to any student loan interest that has accrued since your last payment, with the remainder reducing your principal. As your principal shrinks, your daily interest charges also get smaller. However, in some cases, such as after a grace period or forbearance, accrued interest may be added to your principal, increasing your balance. This is called interest capitalization.

Federal graduate loans always come with fixed interest rates set by the government. These rates stay the same over the life of the loan, providing predictability. Private graduate student loans may offer either fixed or variable rates. Variable rates can fluctuate with the market and may increase your borrowing costs over time.

Pros and cons of private graduate student loans

Private student loans can be a great way to fund your graduate education, especially if you've exhausted federal aid or need additional funds. However, they come with important trade-offs. Before applying, consider the advantages and drawbacks of private graduate student loans so you can make the best choice for your financial future.

By planning ahead and exploring alternative funding options, you can reduce how much you need to borrow in graduate student loans and save money over time. Here are some strategies to help minimize graduate school loan debt:

• Search for graduate scholarships and fellowships: Many universities, professional organizations, and private foundations offer financial awards based on academic achievement, research interests, or demographic criteria. Unlike loans, these don't need to be repaid.
• Consider part-time work or assistantships: Look into teaching assistant (TA) or research assistant (RA) positions, or consider flexible part-time jobs that allow you to earn money without disrupting your studies.
• Explore service-based loan assistance programs: Some federal and state programs offer tuition support or future loan forgiveness in exchange for working in public service, education, or underserved areas after graduation.
• Stick to a realistic budget: Limiting expenses on housing, food, and entertainment during grad school can reduce how much you need to borrow. Every dollar you save is one you won't pay back with interest.
• Choose an affordable graduate program: Public universities, online programs, and schools that offer in-state tuition can significantly lower the cost of your degree and the size of your loan.

The less you borrow for graduate school, the easier it will be to manage and pay off your student loans after graduation — giving you more freedom and less financial stress as you launch your career.

To determine the best graduate student loan lenders, Credible collected more than 1,000 points of data on two dozen companies and evaluated them on several different categories: repayment options, eligibility, interest rates, loan terms, and customer support. We assigned a score out of five stars to each lender based on our findings. Below are the weightings assigned to the general categories for the best student loan companies — which comprise individual criteria that are also weighted.

• Repayment options: 30%
• Eligibility: 25%
• Interest rates: 20%
• Loan terms: 15%
• Customer support: 10%

While the best graduate student loan lender for you will depend on your unique needs and financial circumstances, these findings should help answer your questions and assist you in your search for the best student loan.

Learn more about our methodology.