SoFi is a key player in the student loan market offering low interest rates and diverse loan options for undergraduates, graduates, as well as professionals. Member benefits, the option for lower repayments through SmartStart refi in the initial 9 months, and a no origination fee policy are amongst its primary attractions. Yet, it lacks the feature of co-signer release for parent loans and may not offer the lowest rate available. It also offers a standard grace period of six months.
Secondly, Earnest stands tall with its low rates, zero fees, and loan options for both domestic and international students. International students can apply even without a SSN, giving it an upper hand. Furthermore, Earnest provides a generous nine-month grace period but does not offer technical school loans or co-signer release.
Thirdly, Education Loan Finance (ELFI) is renowned for its consumer satisfaction and lowest interest rates. An assigned dedicated student loan advisor and absence of origination/administrative fees give them a unique edge, but the six-month grace period is standard and co-signer release is not available.
Moving on, Credible has risen as a potent student loan marketplace, where applicants can compare various loan offers at once. It offers a best-rate guarantee and doesn't charge any fee for using its platform. However, international students must have a co-signer for loans through Credible and some borrowers might not fulfill all lenders’ requirements.
Lastly, Sallie Mae is known for the widest range of graduate and specialty loans with other advantages such as zero origination fee and offering the co-signer release. However, it does not offer a pre-qualification option and refinancing is unavailable for the loans.