Best Student Loan Rates for 2020

Loan Choices – Select the loan you're applying for:

Loan Choices – Select the loan you're applying for:

Federal Loan Consolidation

This loan is available to any borrower (both students and parents) who wants to combine his or her outstanding government-guaranteed student loans into a single loan with a single monthly payment. By applying for a Consolidation loan prior to July 1, 2006, you can lock in a low fixed interest rate for the life of the loan. The base consolidation interest rate is determined by taking the weighted average of the current interest rates on the existing/underlying loans that are consolidated. All federal education lenders determine the base consolidation interest rate using this formula. In addition, a Consolidation Loan may have a longer repayment term and lower monthly payments—making repayment easier and more manageable.

Apply for a Federal Consolidation Loan >

Private Loan Consolidation

This consolidation loan has been created to help the recent graduate manage repayment of any private education loans taken out during his or her studies. This loan can include up to $7500 of federal student loans to make debt repayment easier. The borrower must be creditworthy or must obtain a creditworthy co-borrower.

Apply for a Private Consolidation Loan >

Private Student Loans

A Private Education Loan is an unsecured consumer loan made by lenders to students and/or their parents to cover the cost of education. These loans may be used to cover costs not met by the federal, government-guaranteed student loans available. This type of loan is playing a growing role in allowing students to attend the college of their choice.

Apply for an Undergraduate Private Education Loan >

Apply for a Graduate Private Education Loan >

Federal Parent Loan for Undergraduate Students (PLUS) Loan

PLUS loans are available to an eligible parent of a dependent undergraduate student attending a participating post-secondary school. Parents can borrow amounts covering the total cost of education minus financial aid received. A PLUS Loan borrower must pass a basic credit check (credit score and income are not factored in) and is responsible for repaying principal and interest from the time the loan is funded. The interest rate is set annually by the U.S. Department of Education.

Apply for a Federal PLUS Loan >

Federal Stafford Loans

This loan is available to students attending an eligible post-secondary school. There is no credit-worthiness requirement, but each loan must be certified by the school attended. There are two types of Stafford Loans – unsubsidized and subsidized. A student who demonstrates financial need is eligible to have the federal government pay the interest on the loan until repayment of the loan begins. A student may have a combination of subsidized and unsubsidized loans.

Apply for an Undergraduate Federal Stafford Loan > (Coming Soon)

Apply for a Graduate Federal Stafford Loan >

Financial Products to Meet Your Needs 

Financial Products to Meet Your Needs 

ScholarPoint™ Financial has developed products to meet the financial needs surrounding today's students and graduates. We offer the following products: 

  •   Consolidation Loans 
  •   Stafford Loans - coming soon! 
  •   Parent Loans (PLUS) - coming soon! 
  •   Private Loans - coming soon! 

But we do not stop there. ScholarPoint™ offers guidance, information, and valuable resources for you to use in your decision-making. 

Depending on your situation, we have the right financial product for you whether you are a: 

  • College student (to be enrolled or currently enrolled) 
  • Parent of a college student 
  • Graduating student 
  • College student continuing your education 
  • Professional that has graduated and is in the workforce

Evaluate and determine the product that works best for you. Then, apply online and let us get to work for you. If you need any help just give us a call toll-free at (877) 561-8042.


What are the Tax Benefits of a Student Loan?

  1. Unlimited Timeframe for Student Loan Interest Deductions - As recently as the 2001 tax year, taxpayers were only able to deduct student loan interest during the first 60 months of repayment. Beginning in 2002, the 60-month limit was eliminated, and depending on your income, you may be entitled to deduct interest regardless of the age of your loan.

  2. Flexible Eligibility Requirements - Based on income, you may not have qualified for the student loan interest deduction in the past. Starting in the tax year 2002, the income eligibility limits have been increased to make the deduction available for a wider group of taxpayers. What's more, you do not have to itemize your deductions to take advantage of student loan interest deductibility. To determine your eligibility and learn how these benefits apply to your specific situation, we encourage you to consult with your tax advisor and review IRS Publication 970 for details.


DISCLAIMER: Tax information is provided as a general overview. ScholarPoint Financial, Inc. is not engaged in rendering legal, accounting, tax, or other professional advisory services, and we are not qualified (nor is it our intent) to provide individual tax advice. Consult your tax advisor.