HH0-210 student - HDS Certified Implementer - Enterprise Updated: 2023
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Hitachi Implementer student
Other Hitachi exams
HH0-210 HDS Certified Implementer - EnterpriseHH0-220 HDS Certified Implmenter-Modular
HH0-530 Hitachi Data Systems Certified Specialist Compute Platform
HH0-560 Hitachi Data Systems Certified Specialist - Content Platform
HH0-580 Hitachi Data Systems Certified Specialist Virtualization solutions implimentation
HH0-350 HDS Certified Specialist - NAS Architect
HCE-5710 Hitachi Data Systems Certified Expert - Replication solutions implementation
HCE-5420 Hitachi Data Systems Certified Specialist - Content Platform
HQT-4210 Hitachi Data Systems Certified Professional - NAS installation HAT
HH0-210
HDS Certified Implementer - Enterprise
https://killexams.com/pass4sure/exam-detail/HH0-210
Question: 108
Which two statements describe the purpose of an action code (ACC) on the VSP?
(Choose two.)
A. It provides a link to the Work ID.
B. It contains the SIM message.
C. It contains the part location.
D. It provides detailed error information.
Answer: A, C
Question: 109
You have just installed Hitachi Dynamic Link Manager (HDLM) on a Sun Solaris
server. What is the purpose of running the "dlnkmgr view -sys" command?
A. It displays the configuration.
B. It displays the primary path.
C. It displays the alternate path.
D. It configures the alternate path.
Answer: A
Question: 110
A VSP customer is attaching new SUSE Linux servers to their SAN. What are two
configuration requirements? (Choose two.)
A. The queue depth per VSP LUN must not exceed 32.
B. The queue depth per VSP LUN must be at least 8.
C. The queue depth per VSP port must not exceed 2048.
D. The queue depth per VSP port must not exceed 1024.
Answer: A, C
Question: 111
Which two products can be used to monitor the Hitachi Dynamic Provisioning
(HDP) Pool capacity on a VSP? (Choose two.)
A. Device Manager
B. Storage Navigator
C. Provisioning Manager
D. Replication Manager
Answer: A, B
Question: 112
A customer is using an AMS 2300 system as external storage behind a VSP. They
are reworking the power distribution and need to power down both storage systems.
What is the correct sequence of actions?
A. Stop the host I/O > power off the VSP > power off the AMS 2300.
B. Stop the host I/O > power off the AMS 2300 > power off the VSP.
C. Perform a path disconnect to the AMS 2300 > stop the host I/O > power off the
AMS 2300 > power off the VSP.
D. Stop the host I/O > perform a path disconnect to the AMS 2300 > allow the
storage systems to go to battery backup mode when the power is
disconnected.
Answer: A
Question: 113
What are two valid locations for the Dynamic Mapping table of Dynamic
Provisioning? (Choose two.)
A. in flash memory
B. in one of the pool volumes
C. in cache memory
D. in shared memory
Answer: B, D
Question: 114
Which three steps should be performed during a new VSP installation? (Choose
three.)
A. Install HiTrack Monitor on a customer server and configure it.
B. Set the battery date for each battery.
C. Install all SSVP jumpers.
D. Connect the CE laptop to the Console LAN connection port on the SVP.
E. Dump the final configuration and upload it to TUF.
Answer: B, D, E
Question: 115
You are installing a VSP with 2 DKCs. Which component makes up the
interconnection for data paths?
A. SVP
B. DKA
C. VSD
D. ESW
Answer: D
Question: 116
You have replaced a part on a VSP. What are three mandatory steps to complete
your maintenance task? (Choose three.)
A. Complete the "Last maintenance" form inside the DKC door.
B. Complete the corresponding SIM(s).
C. Reboot the SVP to renew the configuration.
D. Check the maintenance screen for any blinking parts.
E. Set the SVP application back to View Mode.
Answer: B, D, E
Question: 117
The SVP has failed on a VSP and you have ordered a replacement. Which
functionality is still available while waiting for the new SVP to arrive on site?
A. Configuration changes can be made using raidcom commands.
B. Hitrack can continue monitoring the VSP and report errors.
C. Configuration changes can be made using HiCommand CLI.
D. ShadowImage pairs can be managed with RAID Manager/CCI.
Answer: D
Question: 118
Why will a server in an environment using persistent binding maintain a constant
view of its target IDs when rebooted?
A. Because persistent binding retains the target ID information.
B. Because the storage LUN Management Service will manage the target IDs.
C. Because the driver software remaps the SCSI target IDs to the new WWNNs
automatically.
D. Because persistent binding will connect to the LUN Manager and provide the
target IDs.
Answer: A
Question: 119
Which two operations are supported by the Tiered Storage Manager GUI? (Choose
two.)
A. initiate an automatic migration based on performance bottlenecks
B. migrate an external volume to a pool
C. migrate a TrueCopy P-Vol in status PAIR
D. migrate a Journal Volume of Universal Replicator
Answer: B, C
Question: 120
What is the benefit of installing an additional pair of disk adapters (DKA) on a
VSP?
A. It increases the total number of disk drives that can be installed.
B. It allows intermix of 2,5" and 3,5" disk drives.
C. It increases throughput on the existing SAS links.
D. It increases the number of SAS links.
Answer: D
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At James Enoch’s High School in California, students gather around a sleek machine sitting on a desk. Presently, an image appears on the computer screen next to the instrument. It is a grain of sand magnified up to 120,000 times, with a resolution of 10-15 nanometres (10-6 mm), prepared by the students for the scanning electron microscope just minutes before.
Exclamations of wonder surge through the small group.
Dr Dave Menshaw, lead teacher and career technical education specialist at James Enoch’s High says the hands-on experience with the microscope is a sure-fire way to get the students excited about science, technology, engineering and mathematics (STEM) careers.
“We use the scanning electron microscope to engage students from a variety of middle and elementary schools in science with an emphasis on lower income or special needs students.
“On numerous occasions, we have seen the lights come on in children who were less engaged than they would have been. Elementary school students enjoy the freedom of learning to use the device at their own pace, get to bring and prepare samples, then make images that we either email to them or print.”
Such enthusiasm will be necessary if just the USA alone is to meet its STEM needs in the immediate future.
STEM education advocate, the Smithsonian Science Education Center, estimates that more than 2.4 million STEM jobs remained unfilled in America in 2018. It says an astonishing 78% of American high school graduates failed to meet benchmark readiness for one or more college courses in mathematics, science, reading, or English.
Meanwhile, the US Department of Commerce says STEM occupations in America have grown by 24.4% over the past decade compared with only 4% for non-STEM occupations. STEM degree holders receive higher incomes, even in non-STEM careers.
Aiming to address some of this shortfall, Hitachi High Technologies America launched the Inspire STEM Educational Outreach Program in 2007. The program provides schools and educational organizations with access to advanced scientific technologies, improving science education and literacy, not just in America, but also globally.
“The program is centered on our miniaturized scanning electron microscopes that are portable, compact, plug into regular room outlets and are easy to operate,” explains Robert Gordon, a senior executive for Hitachi High Technologies America, who is directing the program’s development. “The microscope operation and sample preparation techniques are provided to each educator, and they actually operate the microscope with their students.”
Unlike optical microscopes that use light to magnify an object, scanning electron microscopes use a beam of high-energy electrons to scan the surface of objects, and are capable of magnifying an object up to 100,000 times, revealing details down to the nanoscale level.
The program is providing students of all ages, from grade-schoolers to graduate students, with active learning experiences that teach them about electron microscopy and its applications. Educators also have access to instructional modules, called Learning Lab, that provide lesson plans, teaching tools, and videos.
“The students are able to explore the mysteries of the nanoworld while also learning about microscopy and nanoscience,” says Gordon.
Hitachi works in partnership with organizations like The National Nanotechnology Infrastructure Network (Now the NNCI - National Nanotechnology Coordinated Infrastructure) and Change the Equation (Now endorsed by Change the Equation to STEMworks and WestEd), funded by the Bill and Melinda Gates Foundation, and companies like IBM and the Boeing Corporation.
Find more: STEM Educational Outreach Program
Contact: Robert.gordon@hitachi-hta.com
This advertisement feature is produced by Nature Research Custom Media for Hitachi High-Technologies. The advertiser retains responsibility for content. About this content.
The 2023 academic year is upon us, and while many college students have already commenced their classes, some may still be searching for the funds needed to cover the current or upcoming academic terms. For many students, the costs of college encompass not only tuition but also expenses for books, transportation, and housing – all of which can accumulate swiftly.
If you're seeking ways to finance your education during these academic terms, a good starting point is to explore the various grants, scholarships, and federal student loans available to you. Federal student loans often prove to be the optimal choice when borrowing money for your educational pursuits due to their unique borrower benefits.
However, when you've exhausted these options, you might find it necessary to turn to private loans to bridge any financial gaps. Private student loans may not offer the same safeguards as federal loans, but they can still be a viable option when it comes to covering some or all of your educational expenses. Additionally, private student loans offer their own advantages, such as higher loan limits, flexible terms, and quick approval processes – making them a wise choice in certain circumstances. To assist you in your pursuit, here are the top private student loans available for the 2023 academic year.
Start exploring your student loan options here now to see what you're eligible to receive.
Best private student loans for fall 2023
Here are some of the best private student loans currently available, broken down into six categories:
Best overall: College Ave
College Ave gets our nod for the best private student loan because this lender check all the boxes. They provide loan amounts that vary from as low as $1,000 to the total cost of your entire school-certified expenses like tuition, fees and housing. Student loans rates are competitive, at 4.59% to 16.99% for fixed undergraduate loans and 4.59% to 14.49% for fixed-rate graduate loans. Variable rate loans range from 5.49% to 16.99% for undergraduate loans and 5.49% to 14.49% for graduate loans.
With an undergraduate or graduate student loan from College Ave, you have numerous in-school repayment options, including paying interest-only or a flat $25 monthly. Keep in mind, while in-school payments aren't mandatory, your loans will still accumulate interest during that time. By making even small payments while in school, you can manage the accruing interest and prevent your loan balance from growing excessively.
Repayment terms are for five, eight, 10 or 15 years. When choosing a repayment term, remember that shorter-term loans generally come with higher monthly payments than longer-term loans.
Best for low rates: Earnest
Earnest provides low interest rates with an APR of 4.45% if you use a cosigner and 5.74% if you don't. These rates include Earnest's 0.25% auto-pay discount. This private student loan lender offers four repayment options during school: interest-only payments, full principal and interest payments, $25 monthly payments or payment deferral.
Unlike many lenders, Earnest offers several payment options, including repayment terms for five, seven, 10, 12 or 15 years. If you can afford a higher payment, it may make sense to pay off your loan with a shorter-term loan to save money on interest. Also, the minimum loan amount is only $1,000, so if you have a minimal financial gap to cover after federal financial aid, you don't need to incur more debt with a larger loan. And if you need more money, Earnest loans can cover up to 100% of school-certified costs of attendance.
Best for parents: Sallie Mae
Sallie Mae is one of the largest and most well-known student loan servicers in the United States. The government sponsored the organization since its beginnings in 1972 before Sallie Mae transitioned into a private company in 2014.
Sallie Mae offers a Smart Option Student Loan, which it touts as a student loan with a cosigner. Your cosigner can be a parent, spouse, relative or any adult. Students can choose fixed or variable annual percentage rates (APRs) starting at 4.50% and 6.37%, respectively, which includes a 0.25% automatic payment discount. According to Sallie Mae, the process, from application to disbursement, takes around 10 business days or less.
Check Sallie Mae student loan rates here.
Best for no fees: Discover
More than just a credit card company, Discover also provides private student loans with several perks, including no application, origination or late fees. Discover's no-fee student loans combine with lower interest rates and cash rewards for good grades to lower the costs of borrowing for students.
Discover's student loan APRs are as low as 6.12% for variable-rate loans and 5.29% for fixed-rate loans. They allow you to borrow up to 100% of school-certified costs, such as tuition, housing and books, minus any financial aid you receive. The company's minimum borrowing amount is only $1,000 and it only offers a single repayment term of 15 years.
Best for students with bad credit: Ascent
Many students have poor credit scores because they lack an established credit history. That's one reason why most private student loan companies require a cosigner to offset the lender's perceived risk. Ascent is bucking that trend by offering non-cosigned loans to undergraduate, graduate, DACA and international students.
For example, students without established credit can apply for the Non-Cosigned Outcomes-Based loan without a cosigner, and your eligibility is based on your school, program, major, GPA and other criteria. And if your credit history is shorter than two years, you don't need to meet any minimum income requirements.
Best for students with good credit: SoFi
You'll likely need good credit to qualify for a private student loan with SoFi. While SoFi doesn't publish minimum credit score requirements on its website, it does evaluate your credit history and debts when reviewing your application.
If you have decent credit, SoFi's student loans offer a wide array of benefits, including flexible repayment options, no fees and career services. With the autopay discount applied, the APRs for fixed-rate loans start as low as 4.49%, while the APRs for variable-rate loans begin at 5.16%.
The bottom line
As with any loan, aim to borrow only as much as you need since paying interest on money you don't need is never wise. When comparing private student loans, understand that getting a low-interest rate is essential, but rates aren't your only consideration. Weighing several key factors, such as the borrowing amount, interest rates and repayment terms and fees, can help you identify the loan that best suits your unique financial situation.
An education loan, more commonly known as a student loan, is an amount of money borrowed from a federal or private lender to pay for a higher education. This sum can be used to cover the cost of tuition, textbooks, other school supplies, and basic living expenses so that a student may focus on earning their degree. Generally speaking, federal student loans offer lower interest rates than their private counterparts.
Managing student loans during college isn't something students or their parents generally want to think about. Most students probably don't plan to address their loans until after graduation. However, those who do may focus on the six-month grace period after graduation. This is the period before any payments are due.
This is a big mistake. If you borrow money for college, you'll likely accumulate multiple student loans as you earn your degree. You might have one federal loan for each year you're in school, plus private loans to cover any shortfall.
How you manage these loans while you're still in school can determine whether you experience a student loan crisis after graduation or if you stride into adult life with your loans under control and a plan to repay the balance quickly. That's why we're sharing this information about how to manage your student debt during college. Keep reading to see how much you could save by addressing your debt even before graduating.
Key Takeaways
- You can manage your student loan debt during college, but a crisis after college may change your situation.
- Consider the implications of borrowing or agreeing to a loan whose value is more than you need.
- Unless you only have subsidized federal student loans, your balance will start accruing interest as soon as you receive the funds.
- Calculating how much interest your student loans will accrue can help you decide whether to make interest payments during school.
- Most federal loans come with a grace period after graduation, usually six months.
Overborrowing: Just Say No
Believe it or not, lenders may offer you more money than you need to pay for school. Yes, they're increasing their risk of not getting paid back by potentially allowing you to overextend yourself, but they're also increasing their potential profits by having you pay them more interest.
Student loans are hard to discharge in bankruptcy and can be collected in so many ways. For federal loans, the government can withhold your tax refund and garnish your wages. For private loans, you could face lawsuits and collection agencies, among others. That said, it's your job to figure out the smallest amount you need to borrow to earn your degree.
Student Loan Interest: Does It Accumulate During School?
First, figure out whether your student loans accrue interest while you're in school or if interest doesn't accrue until after graduation. This depends on the type of loan(s) you have.
| Will Your Student Loan Accumulate Interest During School? | |
|---|---|
| Loan Type | Interest Accumulated Through School? |
| Subsidized Federal Direct Loan | No, provided you're enrolled at least half time |
| Unsubsidized Federal Direct Loan | Yes |
| Private Loan | Yes |
Source: Federal Student Aid
Next, determine how much interest your loans will accumulate while you're in school. Otherwise, you could be shocked when you see how much more you owe compared to what you borrowed when the repayment period begins.
Use a student loan deferment calculator to do the math. Deferment occurs when you aren't required to make payments but your student loans accumulate interest.
| Example of Interest Accruing on Unsubsidized Federal Student Loans | |||||
|---|---|---|---|---|---|
| Loan Year | Principal borrowed (federal maximum) | Interest rate (set by govt.) | Years (months) of school remaining | Interest accumulated | Interest with six-month grace period |
| Freshman year | $5,500 | 3.76% | 4 (48) | $827 | $930 |
| Sophomore year | $6,500 | 4.45% | 3 (36) | $867 | $1,017 |
| Junior year | $7,500 | 5.05% | 2 (24) | $757 | $947 |
| Senior year | $7,500 | 4.53% | 1 (12) | $339 | $509 |
| Total principal | $27,000 | ||||
| Total interest | $2,790 | $3,398 | |||
| Grand total (principal plus interest) | $29,790 | $30,398 | |||
You can do the math for your own loans by looking up the federal student loan limits, along with current and past interest rates at the Federal Student Aid website.
Federal Student Loan Fees
When you are approved for a direct federal loan, you may be surprised to learn that you won't receive the full amount. The reason is that you must pay a loan fee of 1.057% for Direct Subsidized and Direct Unsubsidized loans and 4.228% for Direct PLUS loans issued between Oct. 1, 2020, and Oct. 1, 2024, which is taken out of the principal balance of your loan; however, you still have to pay interest on the full principal even though you don't actually get that amount.
For example, someone with a $7,500 loan and a 1.057% loan origination fee ($79.28) receives $7,420.72. But they are still responsible to pay the full $7,500 when it comes time for repayment.
Federal Student Loan Forgiveness and Payment Changes
On June 30, 2023, the Supreme Court ruled that the Biden administration lacked the authority to cancel up to $20,000 in federal student debt per borrower. Shortly thereafter, the administration announced its Saving on a Valuable Education (SAVE) plan. This plan, which took effect in August 2023, cuts payments on undergraduate loans in half, reduces some borrowers' monthly loan payments to $0, ensures that balances don't grow as long as payments are kept up to date, and provides early forgiveness for low-balance borrowers.
Student Loan Grace Period
Your student loans enter the repayment period after you drop below half-time enrollment for any reason, including graduation. But you often get a six-month grace period during which things continue as they did during school: Interest still accumulates, but you won't have to make payments yet.
The federal forbearance on student loan payments and interest that began in 2020 is over. Student loans began accruing interest starting on Sept. 1, 2023, and payments resumed Oct. 1, 2023.
Paying Student Loan Interest During College: Is It Worth It?
Is it really such a big deal if you accumulate $2,790 or even $3,398 in student loan interest during school? That's a personal question only you can answer. But here are some factors to consider if you are thinking about starting to pay during school versus paying after graduation.
In-School Considerations
- Calculate how much net income you need to earn per month to pay your student loan interest. How many hours will it take you to earn that money?
- Perhaps your parents are willing to pay your student loan interest while you're in school. Could you sweeten the deal by asking them to pay it as long as you maintain a certain GPA?
- If your classes and studies are all-consuming, focusing on academics may be more valuable than paying down interest.
- If you're taking extra classes to graduate early, you're already looking at a semester or a year of savings on tuition and fees. If working to pay interest during school will keep you from meeting that goal, it's definitely not worth it.
Post-Graduation Considerations
- If your first job out of school is likely to pay handsomely, the accumulated interest may be so easy to knock out post-graduation that it's not worth worrying about during school.
- If you have no clear career path, minimizing your borrowing costs might be a priority.
- Working during school can have benefits beyond allowing you to repay student loan interest. You might build your resume, make friends, network, learn new skills, and Boost your time-management skills.
How Private Student Loans Change the Interest Payment Picture
Let's say the federal student loan limits don't fully cover your tuition and fee shortfall after grants, scholarships, and parental contributions. What does the math look like with larger loan amounts and private loan interest rates? We'll assume you'll need to borrow $15,000 per year and you'll max out your federal loans. That leaves $7,500 to $9,500 per year in private loans.
| Private Student Loan Interest Accumulation During School | |||||
|---|---|---|---|---|---|
| Loan year | Principal borrowed | Interest rate | Years (months) of school remaining | Total interest accumulated during school | Total interest with six-month post-school grace period |
| Freshman year | $9,500 | 9.0% | 4 (48) | $3,422 | $3,848 |
| Sophomore year | $8,500 | 9.0% | 3 (36) | $2,295 | $2,678 |
| Junior year | $7,500 | 9.0% | 2 (24) | $1,350 | $1,688 |
| Senior year | $7,500 | 9.0% | 1 (12) | $675 | $1,011 |
| Total principal | $33,000 | ||||
| Total interest | $7,742 | $9,225 | |||
| Grand total: (principal plus interest) | $40,742 | $42,225 | |||
Private student loan interest rates depend on many factors. This includes your credit history, your cosigner's credit history (if you have one), market interest rates, and the lender's offerings. You'll also have the option of a fixed- or variable-rate loan. Remember that variable loan rates often start out lower than fixed rates but can escalate over time.
For simplicity, we chose a 9.0% fixed interest rate for our private student loan example in the table above. Private lenders are not required to offer a grace period, but many do, so we showed that option as well.
The more you borrow and the higher the interest rate, the more you may gain by paying interest during school. And it doesn't have to be an all-or-nothing deal. Paying some interest will do you more good than paying no interest. If you're able to pay the interest, have some spending money to do fun things with friends, and still have money left over, you might even consider paying down your student loan principal during school.
Special Considerations
Student loan borrowers should be aware that President Biden and his administration proposed numerous policies that address the student loan crisis. One such provision, included in the American Rescue Plan Act of 2021, makes all student loan forgiveness completely tax-free from Jan. 1, 2021, to Dec. 31, 2025.
What Is the First Rule Regarding Student Loan Payback While in College?
Knowing how interest accumulates on your loan is critical. Is it suspended or deferred while you are a student, or does it accumulate regardless of status? Interest on private and unsubsidized federal direct loans accumulates while you're in school, while interest on subsidized federal direct loans doesn't.
What About the Grace Period?
You must begin paying back student loans once you're enrolled in less than half of the courses expected of a full-time student. Still, a six-month grace period is often available. During this time things continue as they did during school: Interest accumulates, but you won't have to make payments.
Should I Begin Paying My Student Loan Interest During School?
The answer isn't a simple yes or no. Are you able to work while going to school? Are your parents able to pay the interest? If working to pay interest during school will keep you from meeting your educational goals, paying the interest may not be worth it.
The Bottom Line
By calculating how much student loan interest you will accrue during school, you'll have the information you need to make an important decision. Should I make student loan interest payments during college? There's no correct answer. But it is an analysis every student, perhaps with some help from their parents, needs to perform for themselves.
By doing this analysis ahead of time, making the choice, and understanding your borrowing circumstances, you'll be well prepared to pay off your remaining debt after graduation. And you won't be hit with any unwelcome surprises after you receive your diploma.
Purdue has one of the most diverse student populations in the country with students from over 125 different countries, and we’d love to have you become a Boilermaker.
For information about the admissions process and financial documentation required to attend Purdue as an international student, check out the Office of International Students and Scholars website.
Although need-based financial aid isn’t typically available to students who do not meet financial aid citizenship requirements, merit-based financial aid may be available for both undergraduate and graduate students from private sources, visit eduPass for more information.
Loans may also be available to both undergraduate and graduate students who have a U.S. citizen co-signer. These loan amounts are limited to the estimated cost of attendance minus what your resources are; in other words, you can only receive enough aid to cover the estimated cost of attendance. The Division of Financial Aid determines eligibility for the private loan programs by certifying the application submitted through the private lenders.
Financial Aid Citizenship Requirements
To be eligible for federal, state of Indiana, and Purdue need-based aid eligibility, a student must be a U.S. citizen or “eligible” non-citizen.
For a non-citizen to be eligible for financial aid consideration, the student must possess a valid Alien Registration Card I-551 or I-151, be classified as a conditional permanent resident with a valid I-151C Registration Card, or have a passport or I-94 (Arrival/Departure Record) showing one of the following designations:
- Refugee
- Asylum granted
- Indefinite parole and/or Humanitarian Parole
- Cuban-Haitian Entrant
If you have any questions concerning your citizenship status, you should contact the U.S. Citizenship and Immigration Services.
Looking for ways to get involved? You came to the right place.
Being involved goes beyond attending club meetings. It means finding a place where you can try out new skills, learn new ideas, and grow as a person.
Explore the possibilities and get connected. A meaningful college career and a lifetime of memories are just ahead of you!
There's Something for Everyone
With over 200 student organizations across all UNG campuses, there is an organization for almost every interest.
- Academic
- Faith-Based
- Fraternity & Sorority Life
- Honor Societies
- Leadership
- Military
- Multicultural
- Performance & Publications
- Service
- Special Interest
- Sports Clubs
- Student Governance
What You Can Get When You Get Involved
- Make new friends.
- Gain a sense of belonging.
- Share your common interests.
- Gain leadership skills.
- Learn how to network.
- Gain real-world skills and build your resume.
Find your place.
Find your people.
Establishing Connection...
The cost of college has more than doubled over the past four decades — and student loan borrowing has risen along with it. The student loan debt balance in the U.S. has increased by 66% over the past decade, and it now totals more than $1.77 trillion, according to the Federal Reserve.
Here’s a closer look at student loan debt statistics in the U.S. today, broken down by age, race, gender and other demographics.
Total student loan debt statistics
As of the first quarter of 2023, student loan debt in the U.S. stands at a total of over $1.77 trillion. More than 92% of this is federal student loan debt while the remaining amount is owed on private student loans, according to Federal Student Aid (an office of the Department of Education).
In the 2020-2021 academic year, 54% of bachelor’s degree students who attended public and private four-year schools graduated with student loans, according to the College Board. These students left school with an average balance of $29,100 in education debt.
Average federal student loan debt
The majority of student loan debt in the U.S. is made up of federal student loans. The total federal loan portfolio is more than $1.6 trillion. This is spread amongst nearly 44 million borrowers, according to Federal Student Aid.
Here’s how much borrowers owe by federal student loan type:
Average private student loan debt
As of the third quarter of 2022, only 7.22% of the total national student loan debt comes from private student loans, according to Enterval Analytics. These loans are issued by private institutions like banks, credit unions and online lenders.
Students borrowed about $13 billion in private student loans during the 2021-2022 academic year. Of these students, 10% who earned a bachelor’s degree from a public four-year school graduated with $32,100 in private student loan debt. Another 13% who attended four-year private schools graduated with $42,800 in private loans.
Unlike most federal student loans, private student loans generally have strict credit and income requirements. Because of this, most private loan borrowers apply with a co-signer. During the 2022-2023 academic year, nearly 91% of private undergraduate loans and 66% of private graduate loans had a co-signer, according to Enterval Analytics.
The crisis of student loan debt in the U.S.
Total student debt in the U.S. has nearly tripled in the past 15 years, from more than $619 billion in quarter one of 2008 to more than $1.77 trillion in quarter one of 2023, according to the Federal Reserve.
With this debt rising as average wages have fallen, many borrowers struggle to repay their student loans and are unable to pursue other life goals, such as buying a home or starting a family. Delinquencies and defaults on student loans are also more common compared to other types of debt.
Additionally, as of 2021, 40.4 million student loan borrowers left school without completing a degree, according to the National Student Clearinghouse Research Center. This means that many borrowers don’t enjoy the higher earnings that a college education can bring.
Average student loan debt by year
While there’s little data available regarding average private student loan debt per year, more than 92% of all student debt is made up of federal loans. Here’s how the average federal student loan debt increased between 1995 and 2017, based on the most exact data from the Congressional Budget Office.
Who has student loan debt?
The amount of student loan debt borrowers owe varies based on a variety of factors. Here’s a snapshot of the average student loan debt by state, age and gender as well as by race and ethnicity:
Average student loan debt by state
Average student loan debt ranged from $18,344 in Utah up to $39,928 in New Hampshire for the graduating class of 2020, according to the latest data from The Institute for College Access and Success.
Here’s the average student loan debt for college graduates by state:
Average student loan debt by age
Here’s how federal student debt loads compare by age group in 2023, according to Federal Student Aid data:
Average student loan debt by gender
The burden of student loan debt doesn’t fall equally between men and women. In general, women borrow more for their education, and they hold nearly two-thirds of the total student loan debt in the U.S., according to the American Association of University Women (AAUW).
On average, women who earn their bachelor’s degree owe $2,700 more than men upon graduation, and they take about two years longer to pay it off. This is partly due to the gender pay gap, the unemployment crisis facing exact graduates and the growing cost of education, according to the AAUW.
Here’s how student loan debt compares between genders, further broken down by race and ethnicity:
Average student loan debt by race and ethnicity
Young adult women and Black adults are more likely to carry student loan debt compared to young adult men and young white adults, respectively, according to the Federal Reserve Bank of St. Louis. The gender wage gap and gender discrimination as well as both the racial wage gap and racial discrimination faced by Black adults play into these amounts of debt.
Here’s the average amount owed in federal student loans four years after completing a bachelor’s degree in the 2015-2016 academic year, broken down by race and ethnicity:
Average student loan debt expected for a high school graduate
In 2023, borrowers have an average of $37,338 in federal student loan debt and $54,921 in private student loan debt, according to the Education Data Initiative. For 2023 high school graduates, these averages could increase if tuition costs continue to rise at both public and private colleges.
How long does it take to repay student loans?
The amount of time it takes to repay student loans depends on the type of loans you have and your repayment plan. According to a survey of 61,000 individuals by Research.com, student loan borrowers take an average of more than 20 years to pay off their education debt.
If you have federal student loans, you’ll generally be placed on the standard 10-year repayment plan. However, you can switch to a different repayment plan that could extend your term. For example, you’ll have 20 or 25 years to repay your loans under an income-driven repayment (IDR) plan, after which the remainder of your balance will be forgiven. You could also opt to consolidate your federal loans, which can extend your term by up to 30 years.
You’ll typically have five to 25 years to repay private student loans, depending on the lender. Note that private student loans don’t offer the repayment options that federal loans do — the only way to change your term on a private student loan is to refinance.
Regardless of whether you have federal or private loans, you might be able to pay off your balance faster by making extra payments. You could also consider pursuing federal student loan forgiveness to have some or all of your federal balance canceled.
How many student loans are forgiven?
There are a variety of options for receiving federal loan forgiveness, including the Public Service Loan Forgiveness (PSLF) program, Teacher Loan Forgiveness program and Perkins Loan cancellation.
As of March 2023, there have been 3,139,959 PSLF applications processed, according to the Federal Student Aid. In May 2023, the Department of Education announced that more than 615,000 borrowers have had a total of $42 billion forgiven through the program. This was a result of the changes made by the Biden-Harris Administration that made it easier to qualify for this forgiveness.
How many student loans are in default?
A student loan is considered delinquent the day after a payment is missed. Here’s how many are in default, according to the type of loan:
Federal student loans
A federal student loan will generally enter default after payments have been missed for 270 days, depending on the type of loan. However, due to the Covid-19 pandemic, federal student interest accrual and loan payments were paused in March 2020. Eligible loans already in default also received various relief measures, such as halting interest accrual and wage garnishments.
Here’s how many federal loans were in default in the five years before this administrative forbearance, according to Federal Student Aid:
Private student loans
Private student loans usually enter default after 90 days, depending on the lender. As of the third quarter of 2022, 3% of private loans were 30 to 89 days past due, and 1.58% were 90 or more days past due, according to Enterval Analytics.
How to take control of student loan debt
If you’re one of the nearly 44 million Americans with student loans, here are some strategies that might help you better manage your loans:
Pursue federal student loan forgiveness
Several forgiveness programs are available for federal student loan borrowers. For example, if you work full time for a government or nonprofit organization for at least 10 years and make 120 qualifying payments, you might qualify for PSLF. Or if you’re a highly-qualified teacher, you could have $5,000 or $17,500 forgiven (depending on what you teach) after working full time for five consecutive years at a low-income school.
Many states also offer student loan repayment assistance programs to qualifying professionals. To qualify for one of these programs, you’ll typically have to work in a particular career field (such as in healthcare or law) and agree to serve in a certain area for a specified amount of time.
Sign up for an income-driven repayment plan
Most federal student loan borrowers are eligible for at least one of the four IDR plans, which can help to make payments more affordable.
“If you are experiencing long-term financial difficulty, such as you have a job but it doesn’t pay enough to make student loan repayment affordable, and you have no prospects for increasing income, [sign up for] an income-driven repayment plan or extended repayment plan,” says financial aid expert Mark Kantrowitz. “These repayment plans reduce the monthly payment by stretching out the term of the loan.”
Each of the plans extends your repayment term up to 20 or 25 years (depending on the plan) while adjusting your monthly payments to a percentage of your discretionary income. If you still owe a balance at the end of your term, it will be forgiven.
Here are the four main IDR plans to choose from:
- Pay As You Earn (PAYE): Payments are 10% of discretionary income (never more than what you’d pay on a standard 10-year plan) with forgiveness after 20 years.
- Revised Pay As You Earn (REPAYE): Payments are 10% of discretionary income (no cap on amount) with forgiveness after 20 years for undergraduate loans or 25 years for graduate loans.
- Income-Based Repayment (IBR): For loans made on or after July 1, 2014, payments are 10% of discretionary income with forgiveness after 20 years. For loans made before July 1, 2014, payments are 15% of discretionary income with forgiveness after 25 years. Payments on this plan are never more than what you’d pay on a standard 10-year plan.
- Income-Contingent Repayment (ICR): Payments are 20% of discretionary income (or what you’d pay on a 12-year plan with fixed payments) with forgiveness after 25 years.
Keep in mind that while an income-driven plan can make your monthly payments more affordable, it can increase your costs of borrowing over time. This is because extending your repayment term means paying more in interest.
Ask your employer about student loan assistance
An increasing number of employers have begun offering student loan repayment assistance to their employees, such as Google and Starbucks. If you work at one of these companies, be sure to take advantage of this benefit if possible.
If your employer doesn’t offer student loan assistance, consider meeting with your boss or human resources department to see if it could be implemented. Be prepared to provide evidence for how this type of program works at other companies and how it can benefit both you and the employer.
Refinance your high-interest loans
Student loan refinancing is the process of paying off one or more of your current loans with a new private loan. Depending on your credit, you might be able to qualify for a lower interest rate, which could save you money on interest and potentially help you pay off your loans faster. You could also opt to extend your repayment term to reduce your payments — though remember that this means you’ll pay more in interest over time.
You can refinance both federal and private loans. However, keep in mind that refinancing federal student loans means forfeiting access to federal repayment plans, forgiveness programs and other borrower protections.
Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 11/1/2023 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest APRs require interest-only payments, the shortest loan term, and a cosigner, and are only available to our most creditworthy applicants and cosigners with the highest average credit scores.
A good credit score is essential when making many of the major life decisions you face after graduation, such as renting an apartment or applying for an auto loan. Opening a college student credit card is a smart way to start building credit early while also taking advantage of rewards and special financing offers.
Student cards provide useful benefits for different types of students — from travelers and foodies to commuters. Some cards are lenient with credit history requirements, meaning you may qualify with no credit history at all. You do have to be 18 to apply for a credit card and need to have a steady source of income.
If you're feeling overwhelmed by all the choices, don't stress. We did the research for you. CNBC Select, dug into various cards' perks and drawbacks, to find the best student credit cards based on your spending habits. (See our methodology for more information on how we choose the best cards.)
Best student credit cards
Best for cash back
Discover it® Student Cash Back
On Discover's secure site
-
Rewards
Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases-automatically.
-
Welcome bonus
Discover will match all the cash back you've earned at the end of your first year
-
Annual fee
-
Intro APR
0% for 6 months on purchases
-
Regular APR
-
Balance transfer fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
-
Foreign transaction fee
-
Credit needed
Pros
- Cash-back program
- Generous welcome bonus
Cons
- Cash-back categories must be activated each quarter
- Cash-back program limits earnings: Enroll every quarter to earn 5% cash back in various categories on up to $1,500 in quarterly purchases, then 1%
- You must be a U.S. citizen and college student to apply for this card
Who's this for? The Discover it® Student Cash Back card is a well-rounded card with no annual fee that offers college students enrolled in a two- or four-year college the chance to build credit while earning rewards. You must be over 18 and a U.S. citizen to apply.
Cardholders can enroll every quarter to earn 5% cash back on rotating categories on up to a $1,500 maximum each quarter (then 1%). All other purchases earn unlimited 1% cash back automatically.
There are no foreign transaction fees, which makes it a good choice for students studying abroad.
Best for groceries and dining
Capital One SavorOne Student Cash Rewards Credit Card
On Capital One's secure site
-
Rewards
Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024, 8% cash back on Capital One Entertainment purchases; unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, Terms Apply; 3% cash back on dining and at grocery stores (excluding superstores like Walmart® and Target®); 3% cash back on popular streaming services and entertainment; 1% cash back on all other purchases
-
Welcome bonus
Early Spend Bonus: Earn $50 when you spend $100 in the first three months
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Annual fee
-
Promo APR
-
Regular APR
19.99% - 29.99% variable APR
-
Balance transfer fee
$0 at the Transfer APR, 3% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
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Foreign transaction fee
-
Credit needed
Pros
- Excellent cash back categories on broad spending categories
- Exclusive access to curated experiences in sports, dining and entertainment
- Unlimited cash back that doesn't expire for the life of the account
- Pick the monthly due date that works best for you
Cons
Best for travel
Bank of America® Travel Rewards for Students credit card
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Rewards
Unlimited 1.5 points for every $1 spent on all purchases
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Welcome bonus
25,000 online bonus points after you spend at least $1,000 in purchases in the first 90 days of account opening, which can be redeemed for a $250 statement credit toward qualifying travel and dining purchases
-
Annual fee
-
Intro APR
0% APR for the first 18 billing cycles on purchases, and for any balance transfers made within the first 60 days of opening your account
-
Regular APR
-
Balance transfer fee
3% of the amount of each transaction
-
Foreign transaction fee
-
Credit needed
Pros
- No annual fee
- Points can be redeemed for flexible travel expenses, including flights, hotels, vacation packages, cruises, rental cars or baggage fees
- No limit or expiration on points
- Strong welcome bonus of 25,000 points if you spend $1,000 in the first 90 days
- Intro 0% APR for 18 billing cycles on purchases and balance transfers
- No fee charged on purchases made outside the U.S.
- You don’t have to be a U.S. citizen to apply for this card
Cons
- No student-centric benefits or incentives to practice responsible credit behavior
- Estimated rewards earned after 1 year: $466
- Estimated rewards earned after 5 years: $1,528
Rewards totals incorporate the points earned from the welcome bonus
Who's this for? The Bank of America® Travel Rewards for Students is a great choice for college students who plan on studying abroad or traveling during breaks. The rewards program is geared toward travel, and cardholders earn 1.5 points per dollar spent on all purchases.
You can redeem rewards as a statement credit to cover the cost of qualifying travel purchases — a simple way to reduce the cost of taking a spring break vacation or buying a plane ticket home. The Bank of America Travel Rewards Student card has no foreign transaction fees, making it an ideal card for students studying abroad.
This card also comes with a longer-than-average special financing offer of no interest for 15 billing cycles (then 17.99% - 27.99% variable APR). Over a year of no interest is a great way for you to pay off new purchases over time, without incurring interest charges.
You must be 18 or older and enrolled in school (college, vocational or trade school) to qualify for this card.
Best for gas stations
Discover it® Student Chrome
On Discover's secure site
-
Rewards
Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
-
Welcome bonus
Discover will match all the cash back you've earned at the end of your first year.
-
Annual fee
-
Intro APR
0% for 6 months on purchases
-
Regular APR
-
Balance transfer fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
-
Foreign transaction fee
-
Credit needed
Pros
- Cash-back program
- Generous welcome bonus
Cons
- Cash-back program limits earnings: 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then 1%
- You must be a U.S. citizen and college student to apply for this card
Who's this for? If you want all the perks of a Discover card but you don't want to deal with activating bonus rewards categories each quarter, you should consider the Discover it® Student Chrome. It has a strong rewards program for college students frequently filling up their gas tank or dining out, with 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, then 1%. Plus, earn unlimited 1% cash back on all other purchases automatically.
The Discover it Student Chrome doesn't charge foreign transaction fees, and new card members get 0% APR for the first six months on new purchases. After the intro period, there's an 18.24% - 27.24% variable APR. We always recommend you pay your balance on time and in full to avoid interest charges.
Best for 0%-APR offer
BankAmericard® for Students credit card
-
Rewards
-
Welcome bonus
-
Annual fee
-
Intro APR
0% for the first 18 billing cycles on purchases and balance transfers
-
Regular APR
-
Balance transfer fee
3% of the amount of each transaction.
-
Foreign transaction fee
-
Credit needed
Pros
- No annual fee
- One of the longest intro periods for a no-fee card
Cons
- 3% foreign transaction fee
- No rewards program
- Transfer timeline: Balances must be transferred within 60 days from account opening
- Estimated total fees and interest on debt repayment: $441
Who's this for? The BankAmericard for Students is ideal for students seeking a special financing offer. Instead of offering ongoing rewards or a welcome bonus, new applicants can take advantage of 0% APR for 21 months (then a variable standard APR of 15.99% - 25.99%).
The introductory APR applies to purchases and balance transfers you make within the first 60 days of account opening. This could be a good option for financing certain purchases or providing some relief for high-interest debt. There is a 3% balance transfer fee for each transaction, which puts a dent in your savings. This card also has no annual fee.
Best for no credit history
Petal® 2 "Cash Back, No Fees" Visa® Credit Card
-
Rewards
1% cash back on eligible purchases right away and up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments; 2% to 10% cash back at select merchants
-
Welcome bonus
-
Annual fee
-
Intro APR
-
Regular APR
-
Balance transfer fee
-
Foreign transaction fee
-
Credit needed
Pros
- No credit history required (if you do have a credit history, that does factor into the credit decision)
- No fees whatsoever
- 1% cash back on eligible purchases right away and up to 1.5% cash back on eligible purchases after making 12 on-time monthly payments; 2% to 10% cash back at select merchants
- Credit limits range from $300 to $10,000
Cons
- Card isn't for rebuilding credit, but it's good for building credit
- No special financing offers
- No welcome bonus
- Estimated rewards earned after 1 year: $249
- Estimated rewards earned after 5 years: $1,577
FAQs
Should college students have credit cards?
It's important for college students to have credit cards as they can help build credit history, raise your credit score and teach you how to manage money. When used responsibly, student credit cards can save you money through the rewards you earn on your purchases. Student credit cards also provide more security through their various built-in protections.
How can a student with no income get a credit card?
A student with no income can get a credit card by applying with a qualified cosigner or by being added as an authorized user under a parent's card. If they are over 21 years of age, students are also able to apply for credit cards using their household income.
Which type of credit card is best for students?
The best type of credit card for students is a card that can earn rewards and help you build credit at the same time. It's even better if you can qualify for a card that earns extra rewards in categories where you spend the most.
Are student cards good for building credit?
Student credit cards can be a good way to build credit because they are easier to qualify for than a typical credit card. But for a student credit card to help your credit, you'll need to pay your balance in full and on time every month.
Are student credit cards hard to get?
Student credit cards are generally easier to qualify for than many of the best credit cards. However, the application may require proof of college enrollment in addition to the standard information required for a credit card application.
Bottom line
Getting a student credit card can help you establish a credit history, build your credit score and earn rewards along the way. And there are cards tailored to the common needs of college students, such as cards that earn bonus rewards for dining or gas.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best student credit cards.
Our methodology
To determine which cards offer the best value for students, CNBC Select analyzed over a dozen of the most popular credit cards available for college students looking to build credit.
We compared each card on a range of features, including: credit limit, rewards program, introductory and standard APR, welcome bonuses and foreign transaction fees, as well as factors such as required credit score and customer reviews when available. We also considered any special student-centric programs that offer incentives or extra rewards.
Because it's unusual for college student cards to have robust rewards programs, we did not analyze how many reward points you can earn in the first year. For students who are looking to build their credit history and develop strong financial skills, it's more important to practice good credit card habits — spending within your means, paying your balance on time and in full — than try to optimize your points balance.
Catch up on CNBC Select's in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
*For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
For rates and fees of the Discover it® Student Cash Back, click here.
For rates and fees of the Discover it® Student Chrome, click here.
Information about the Bank of America® Travel Rewards for Students has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
When a co-signer backs a loan, they're essentially agreeing to take on the responsibility of repayment if the actual borrower cannot. It's a big commitment, and although co-signers can be very beneficial, the reality is that not everyone has someone they can rely on to ask.
The good news is that there are student loans that don't require having a co-signer — and your on-time monthly payments on these loans can help you build credit. If you're looking to finance your education and you don't have a parent or other individual to co-sign your loans, first turn to federal direct subsidized or unsubsidized loans, which don't require borrowers to have co-signers or a minimum credit score (except for PLUS loans, which are designed for graduate students).
Once you've exhausted federal loans and find yourself still needing funding, turn to a private lender. Below, CNBC Select reviews the top student loans without a co-signer based on eligibility requirements, availability, amounts, interest rates, terms, repayment options, borrower protections and any bonus features. (See our methodology for more information on how we choose the best student loans without a co-signer.)
Best student loans without a co-signer
Best overall
Ascent® Funding
-
Eligible borrowers
Qualifying undergraduate juniors and seniors, graduate students
-
Loan amounts
Up to $200,000 for undergraduate and $400,000 for graduate loans
-
Loan terms
-
Loan types
-
Borrower protections
Deferment and forbearance options available
-
Co-signer required?
Pros
- Considers borrowers with no credit
- High loan amount
- Variety of loan terms
- Variable and fixed rates, so you can choose
- Borrowers have hardship protections
- No co-signer required
- No fee for paying off loan early
- 1% cash back rewards
- Up to 1% interest rate discount for autopay
Cons
- Non-cosigned loans tend to charge higher interest rates
Ascent Funding offers private student loans without a co-signer to qualifying undergraduate juniors and seniors, as well as graduate students. The private lender considers borrowers without established credit, as well as those who meet the minimum credit requirements but not the income or repayment requirements. In these cases, the lender looks at other factors like a borrower's school, program, graduation date, major, GPA, cost of attendance and Satisfactory Academic Progress (SAP).
Runner-up
Funding U
-
Eligible borrowers
Qualifying undergraduate borrowers
-
Loan amounts
Up to $20,000 per school year
-
Loan terms
-
Loan types
-
Borrower protections
Forbearance options available
-
Co-signer required?
Pros
- Considers borrowers' earning potential
- Borrowers have hardship protections
- No co-signer required
- No fee for paying off loan early
- 0.5% interest rate discount for making interest-only payments in school
- Loan officer assigned to each borrower for hands-on help
Cons
- Only 10-year loan terms
- Only fixed-rate loans
- Not available in every U.S. state
- Non-cosigned loans tend to charge higher interest rates
With Funding U, eligible undergraduate borrowers can get access to co-signer-free student loans. Funding U determines eligibility by considering factors like school graduation rate, class hours completed, estimated graduation date, academic record, major and employment or internship experience — basically all factors that illustrate a borrower's likelihood to land a job and thus eventually repay their loans given.
Best for income-based repayment
Edly Student Loans
-
Eligible borrowers
Qualifying juniors, seniors or graduate students
-
Loan amounts
Up to $25,000 total lifetime borrowing limit
-
Loan terms
-
Loan types
-
Borrower protections
Deferment and forbearance options available; all loans are on income-based repayment
-
Co-signer required?
Pros
- Considers borrowers' schooling and programs
- Borrowers have hardship protections
- All loan payments are are income-based, so they're flexible and can adjust to your finances
- No co-signer required
- Payments while in school aren't required
- Enroll in autopay and make on-time payments to earn rewards
- Edly Career Counselors and Edly Student Success Team are available for support
Cons
- Only 7-year loan terms
- Only variable-rate loans
- Not available in every U.S. state
- Non-cosigned loans tend to charge higher interest rates
Edly Student Loans offer co-signer-free options for qualifying juniors, seniors and graduate students on an income-based repayment term — meaning your payments are flexible and adjust based on your income ($30,000 minimum income threshold). With this income-based model, payments are recalculated annually as a percentage of your current annual salary so you aren't overextending yourself to pay off your debt. Eligibility includes majoring in a supported program; Edly looks at schools, majors and graduation dates to see if borrowers qualify.
Best for international students
MPOWER Financing®
-
Eligible borrowers
U.S. citizens, international students, DACA recipients, refugees and asylum-seekers who are undergraduate or graduate students
-
Loan amounts
-
Loan terms
-
Loan types
-
Borrower protections
-
Co-signer required?
Pros
- Don't have to be U.S. citizen or U.S. permanent resident to qualify
- International students establish credit in the U.S.
- Considers borrowers' future earnings
- High loan amount
- No co-signer required
- No fee for paying off loan early
- 0.25% interest rate discount for autopay
- Visa support and career development
- Automatically prequalify for Zolve Credit Card and bank account
Cons
- Only 10-year loan terms
- Only fixed-rate loans
- Borrowers don't have hardship protections
- Non-cosigned loans tend to charge higher interest rates
Many private student loan servicers require borrowers to be U.S. citizens or U.S. permanent residents in order to take out a loan, which is why MPOWER Financing stands out. In addition to U.S. citizens, international students, DACA recipients, refugees and asylum-seekers who are undergraduate or graduate students can apply for MPOWER's non-cosigned loans to study in the U.S. and Canada; loans are based on borrowers' future earnings. These loans can help international students, specifically, establish and build a credit history in the U.S.
Best for studying abroad
Prodigy Finance
-
Eligible borrowers
Students studying abroad for a master's degree
-
Loan amounts
-
Loan terms
-
Loan types
-
Borrower protections
Forbearance options available
-
Co-signer required?
Pros
- Don't need to have a credit history
- Considers borrowers' future earning potential
- Variety of loan terms
- Borrowers have hardship protections
- No co-signer required
- No fee for paying off loan early
- Payments while in school aren’t required
- Career services and networking events available
Cons
- Loan amounts aren't disclosed
- Only variable-rate loans
- 5% admin fee
- Non-cosigned loans tend to charge higher interest rates
Prodigy Finance is an international loan provider that lends non-cosigned student loans to those studying abroad for a master's degree. Prodigy loans are represented in over a dozen countries around the world, helping students cover their tuition and living costs. Prodigy bases its lending on data on a borrower's future earning potential and accepts borrowers with no credit history whatsoever.
More on our top student loans without a co-signer
Ascent Funding
Ascent Funding borrowers can get loan amounts up to $200,000 for undergraduate loans and $400,000 for graduate loans, in addition to customizing their loan repayment terms ranging from five to 15 years, choosing between a fixed or a variable rate and paying off their loan early penalty-free. Ascent also offers rewards like 1% cash back on principal loan amounts at graduation, as well as up to a 1% interest rate discount if you set up auto-payments on your non-cosigned student loan. There are also deferment and forbearance options available to borrowers.
Eligible borrowers
Qualifying undergraduate juniors and seniors, graduate students
Loan amounts
Up to $400,000
Loan terms
5 to 15 years
Funding U
Funding U offers co-signer-free student loans up to $20,000 per school year. These loans come with fixed interest rates, meaning your rate (and thus monthly payment) will stay the same over the life of your loan and there's no prepayment penalty. All Funding U loans have a 10-year repayment term and there's a 0.5% interest rate discount available to students who make interest-only payments while in school. There are also forbearance options available to borrowers. Plus, Funding U assigns one of its loan officers to each borrower who's preapproved so they can get hands-on help with their loan offer, repayment, etc.
Funding U's loans are only available to residents in the following states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nebraska, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia and Wisconsin. (Terms and conditions vary by state. Loan type and loan amount availability may vary by state.)
Eligible borrowers
Qualifying undergraduate borrowers
Loan amounts
Up to $20,000 per school year
Loan terms
10 years
Edly Student Loans
With Edly Student Loans, repayment terms are 84 months or seven years, with variable interest rates and there's up to a $25,000 total lifetime borrowing limit. Students with non-cosigned loans aren't required to make payments while in school, which is a perk unique to Edly. Deferment and forbearance are available. Borrowers can also earn rewards by enrolling in autopay and by making on-time payments. Edly has Career Counselors and its own Student Success Team for help with academic things like study prep.
Edly Student Loans are available to residents of all states except Colorado, Vermont, Maine, West Virginia and Iowa.
Eligible borrowers
Qualifying juniors, seniors or graduate students
Loan amounts
Up to $25,000 total lifetime borrowing limit
Loan terms
84 months or 7 years
MPOWER Financing
MPOWER Financing's non-cosigned loans have a 10-year repayment term and loan amounts go up to $100,000, with fixed interest rates (meaning your rate and monthly payment won't ever change). Funding can help borrowers pay for living expenses at U.S. schools, and borrowers can earn a 0.25% rate discount when signing up for autopay. There's no prepayment penalty.
MPOWER also offers benefits alongside funding, such as visa support, career development specifically for international students, as well as automatic prequalification for a Zolve Credit Card and bank account when you have an MPOWER loan. The no-annual-fee card helps users with no credit history build credit in the U.S.
Eligible borrowers
U.S. citizens, international students, DACA recipients, refugees and asylum-seekers who are undergraduate or graduate students
Loan amounts
Up to $100,000
Loan terms
10 years
Prodigy Finance
Prodigy Finance offers student loan repayment terms ranging from seven to 20 years, with variable interest rates. The maximum loan amount that an international student is able to borrow depends on the university and program they choose, as well as their future earning potential.
There's no prepayment penalty and forbearance options are also offered. Prodigy does not require students to make payments while in school, a standout perk, and the lender supports students with career services and networking events.
Prodigy adds an admin fee of 5% of the amount you borrow to your total loan amount and loans are currently only in USD.
Eligible borrowers
Students studying abroad for a master's degree
Loan amounts
Dependent on student
Loan terms
7 to 20 years
Compare offers to find the best loan
FAQs
What to do if I can't find a co-signer for student loans?
If you can't find someone to co-sign on your student loans, that's OK. Luckily, there are funding options out there that don't require needing a co-signer. These include Federal Direct Subsidized or Unsubsidized student loans, as well as non-cosigned student loans through private lenders like those on this list.
Can I take out a student loan without a co-signer?
It is possible to take out a student loan without a co-signer. The best way to do this is through federal loans, which are from the government. All undergraduate and some graduate federal student loans don't require borrowers to have co-signers. After maxing out your federal loans, you can look to private lenders who offer student loans co-signer-free.
Can you get a loan with no credit without a co-signer?
It's possible to get a student loan even with no credit and no co-signer. There are a handful of private lenders that offer student loans specifically for this cohort of borrowers. These lenders will instead base your eligibility on factors like your academic performance/GPA or your future earnings. Note, however, that in exchange you'll likely pay a higher interest rate than if you had good credit and/or a co-signer to show for.
Why is it so hard to get a student loan without a co-signer?
It can be hard to find student loans without a co-signer after you've exhausted all federal loan options. Unlike federal student loans issued by the government to really anyone who needs them, private student loans typically require borrowers to qualify. Private lender qualifications usually include having a credit score in the mid- to upper-600s as well as a steady income, which is why co-signers come in handy and are highly suggested by lenders. In the lender's point of view, too, lending money is less risky to borrowers who have a co-signer sharing in the repayment responsibility. It's more of a risk to offer non-cosigned loans, which is why we don't see many private lenders that do it.
Bottom line
Federal student loans are the best financing option without a co-signer because they typically offer lower interest rates than private student loans, as well as plenty of borrower protections like income-driven repayment plans, hardship options and loan forgiveness. Complete the Free Application for Federal Student Aid (FAFSA®) form to take advantage of all federal student loan options and financial aid available to you for college or graduate school.
After you've submitted the FAFSA form and maxed out your federal loan and aid options, check out these private student loan lenders that don't require a co-signer. This list can be a good next step to help finance your education, as long as you keep in mind that you're likely to pay a higher interest rate than if you used a co-signer. Most private lenders have prequalification or preapproval tools on their websites to help you compare rates before signing up.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every student loan review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of student loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best student loan lenders.
Our methodology
To determine which student loans are the best for borrowers who don't have a co-signer, CNBC Select narrowed down a list of private lenders that directly offer non-cosigned loans (since many don't). After creating a list, we then compared these student loans based on the following factors:
- What it takes to qualify
- Loan availability by state
- Loan amounts offered
- Loan interest rates (fixed or variable)
- Loan terms in years
- Loan repayment options
- Borrower protections like deferment or forbearance
- Bonus features like autopay rate discounts
Interest rates offered on student loans vary and can change. Non-cosigned student loans often have higher interest rates than student loans with a co-signer. Before taking out student loans through a private lender, first fill out the FAFSA form to see how much you can borrow in federal aid.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
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