How To Find The Best Student Loans And Rates

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Best Student Loans And Current Rates In July 2026

Updated: July 1, 2026 By Robert Farrington | 12 Min Read (Edit)

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Borrowers hunting for the “lowest student loan rate” often grab their calculator, see a promising number and assume that’s what they’ll get.

But here’s the truth: the rate you see online rarely reflects what you qualify for (except for Federal loans, which are basically guaranteed).

Private student loan rates advertised can vary widely - often because of factors you can control (like credit score, cosigner, loan term, and more). But you only want to look at these private loan options after maxing your Federal loans.

Paying for college is already challenging enough, but how do you find a lender? What should you think about? How do you know you’re getting a good deal? It can all be overwhelming.

To keep it simple, you should always borrow federal loans first, then private.

When I was in college, there weren’t a lot of options. If you got Federal loans, you filled out your FAFSA and waited for your email from the financial aid office. If you were looking for private loans, you went to a major bank.