American Express Student Loan Alternatives
You can’t get a student loan directly from American Express. However, we’ve reviewed many private student loan providers and included some of the best below.
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American Express is one of the most popular credit card issuers in the market. The company has a wide variety of cards and other loan products, but it does not offer student loans to its customers. Even if you are already an American Express cardholder, you’ll need to find another lender for student loans.
Thankfully, there are plenty of alternatives if you need to borrow money to finance your education. While federal student loans should be your first choice thanks to their low rates and perks such as interest subsidization, private lenders can help you cover costs that federal loans don’t.
Below, you’ll find some of the best alternatives to American Express for student loans.
American Express private student loan alternatives
Since AmEx doesn’t directly offer student loans, you’ll have to look elsewhere. For a more comprehensive comparison, you can check out our guide to the best private student loan lenders. We’ve also highlighted some of these companies below.
If you already have student loans and need to refinance, you can check out our guide to the best student loan refinance companies.
College Ave
Variable APR
1.79% – 10.97%
Fixed APR
4.39% – 11.98%
Loan Amount
$1,000 – 100% of school-certified cost of attendance
College Ave is LendEDU’s #1 rated private student lender. The company offers a wide variety of student loan products. While most loans require a cosigner, you can remove the cosigner after 24 on-time monthly payments.
The company has limited options for deferment and forbearance. As with all private loans, your interest rate will depend on your credit score and other criteria.
- Interest rate reduction: 0.25% automatic payment discount
- Term lengths: collegeave-psl-15-termlengthrange_y
- In-school repayment options: Full principal and interest payment, interest-only payment, $25 flat monthly payment, deferred payment.
Earnest
Variable APR
2.74% – 11.44%
Fixed APR
4.39% – 12.78%
Loan Amount
$1,000 – 100% of school-certified cost of attendance
Earnest offers student loans and refinancing to undergrads, graduates, and parents and offers a nine-month grace period, giving you time after graduation before you have to make your first payment.
Another perk of working with Earnest is the option to skip one payment each year (though this will push back your payoff date).
- Interest rate reduction: 0.25% automatic payment discount
- Term lengths: earnest-psl-1330-termlengthrange_y
- In-school repayment options: Deferred payment, fixed $25 monthly payment, interest-only, principal and interest.
Ascent
Variable APR
3.41% – 14.18%
Fixed APR
4.13% – 15.00%
Loan Amount
$1,000 – $200,000
Information in the card above is for the Ascent Cosigned Loan.
Ascent offers both cosigned and non-cosigned loans to student borrowers. Non-cosigned loans let students qualify without the help of their parents. These loans have no fees, and borrowers get access to free financial education materials to help them learn how to manage their money and student loan debt.
You can also customize your repayment plan, choosing a fixed payment that starts after graduation or one that scales up as you get farther from your graduation date. If you increase your income as you gain experience in your career, this can be a good way to scale your payment with your income and pay down your loan balance faster.
- Interest rate reduction: 0.25% automatic payment discount
- Term lengths: ascent-psl-26-termlengthrange_y
- In-school repayment options: Deferred payment, fixed $25 monthly payment, interest-only
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