How To Get Spring Semester Student Loans and Financial Aid

Sallie Mae offers the Smart Option Student Loan for undergraduate students and a suite of loans for graduate students. You can borrow up to your school-certified cost of attendance and apply just once annually to get the funds you need for the entire academic year. Plus, applying for a Smart Option Student Loan with a cosigner may help you get a better rate. 

Through Sallie Mae, you can find a variety of loans designed for specific needs, including loans for MBA programs, law school, medical school, and health profession programs.

College Ave offers student loans for almost every type of degree program, with a range of repayment options, including a unique eight-year repayment term. Additionally, you can get extended grace periods of as long as 36 months on graduate, dental, and medical student loans.

It's also possible to get loan approval for multiple school years at one time. About 90% of undergraduates applying with a cosigner are approved for additional student loans. However, you must complete at least half of your repayment term before you can remove a cosigner for your loan. Some lenders allow cosigners to be released much sooner, after as few as one to two years of payments.

While Ascent provides traditional student loans for undergraduate, graduate, and medical programs, it also stands out with some options that are uncommon among private student loan lenders. For example, its Outcomes-Based Loan, which doesn't require established credit or a cosigner, is available to juniors and seniors. When assessing your application, Ascent considers factors including your school, major, and GPA to determine if you're eligible.

Ascent also offers its Progressive Repayment plan to qualified borrowers. It allows you to begin with smaller payments at the start of the repayment term and then gradually pay more each month over time. If you borrow with a cosigner, they can be released after you make as few as 12 monthly payments. However, cosigners on loans for international students do not qualify.

SoFi offers fixed- and variable-rate student loans to help undergraduate, graduate, and professional students and parents of students finance their education. These loans can cover up to the total cost of attendance, with a minimum loan of $1,000. ​Students must be enrolled at least half-time in a degree-seeking or graduate-certificate program at an eligible school and a U.S. citizen, permanent resident, or non-permanent resident alien.

SoFi has multiple repayment plans, allowing students to pick terms that best fit their financial situations, with cosigner release after 24 months of consecutive on time payments. Cosigners in Colorado, Connecticut, and Maine are eligible for release after 12 months. Borrowers can choose between fixed and variable rates, with the option to reduce rates by 0.25% when enrolling in automatic payments. They can also qualify for a 0.125% interest rate discount on subsequent loans with SoFi's Continuing Scholar Discount. Plus, a $250 cash bonus with a 3.0 GPA or higher for full-year loans or $100 cash back for single-semester loans.

Abe's private student loans are available to undergraduates, graduate students, and students in certificate programs. The lender is unique in that it allows you to borrow even if you're enrolled less than half-time.

Abe offers rate discounts and payment relief that other lenders don't, such as a reduction in your rate with autopay and for every six months of on-time payments, up to a total of 0.50 percentage points. Borrowers can also extend their grace period up to an additional six months. Plus, you can choose to lengthen your repayment term by five years, which can be helpful if you need to lower your monthly payments, or you can request a hardship forbearance of 12 months.