 TITLE: Which Types of Student Loans Are Best? CONTENT: Private Student Loans\n---------------------\nPrivate student loans aren't as uniform as federal student loans. For example, your rate, term, fees, loan amount and repayment options depend on the lender and your credit. This is why it's important to compare lenders and offers before taking out a private student loan. Additionally, because the loan offer depends on your credit, many students need a creditworthy cosigner to qualify.\nHere are three examples of private student loan companies:\n* * *\nSoFi offers undergraduate student loans and says it will soon offer graduate and parent loans as well. The minimum loan amount is $5,000, but there's no origination, application, prepayment or late fee when you're taking out or repaying the loan. SoFi also offers fixed- and variable-rate loans, and you can choose to defer your payments until after you leave school or start repaying the loan while you're in school.\n* * *\nCommonBond offers undergraduate, graduate, MBA, dental and medical student loans. The rates and terms depend on the type of loan and whether you take out a fixed-rate or variable-rate student loan. CommonBond also has a \"social promise\" program that pays the tuition for a student in a developing country for each degree it fully funds in the U.S.\n* * *\nCollege Ave offers undergraduate, graduate and parent student loans with either fixed or variable rates. There are also career loan options for students pursuing an eligible certification program. You can choose from several repayment terms and plans, which can help you find a loan with a manageable monthly payment. END