U.S. News Expands Best Loan Companies Ratings With New Student Lender Category

WASHINGTON, Jan. 27, 2021 /PRNewswire/ -- U.S. News & World Report, the global authority in rankings and consumer advice, today announced the addition of a third major category to its Best Loan Companies Ratings: Best Student Lenders.

Launched in August 2020, Best Loan Companies Ratings is a five-star system to help consumers compare more than 70 lenders as they seek to conserve cash when buying a home, paying for emergency expenses or consolidating debt. In addition to Best Student Lenders, U.S. News rates the best loan companies semiannually in two other major loan categories, Best Mortgage Lenders and Best Personal Loans. The ratings appear on U.S. News lender profiles and are accompanied by relevant information about each lender, such as minimum credit score requirements. 

"When federal student loans aren't enough to cover all your college expenses, private loans can be one way to help fill the gap," said Kim Castro, editor and chief content officer at U.S. News.  "U.S. News' Best Student Lender ratings are helpful tools to take the guesswork out of an already overwhelming process by narrowing down your options to find a lender that's right for you." 

U.S. News scored lenders in three categories – affordability, customer service and eligibility – based on several factors, and then assigned ratings based on a weighted, cumulative overall score. Factors for Best Student Lenders include fixed APR, variable APR, customer service, online services, loan amount, credit score requirement, maximum loan term and product availability. For further details on how the ratings were calculated – including factors that determine the Best Mortgage Lenders and Best Personal Loans – see the methodology.

The best loan companies in many other categories are identified periodically. U.S. News also publishes content to help consumers make informed decisions on mortgage refinancing, home equity loans, student loan refinancing, small-business loans, debt consolidation and more. Consumers can find advice about the loan application process, learn how to evaluate lenders and save money on costs.

U.S. News' College Loan Center also has tips and tools to help consumers navigate through financial aid, student loans and overall financial planning.

About U.S. News & World Report

U.S. News & World Report is the global leader in quality rankings that empower people to make better, more informed decisions about important issues affecting their lives. A digital news and information company focused on Education, Health, Money, Travel, Cars and News, USNews.com provides consumer advice, rankings and analysis to serve people making complex decisions throughout all stages of life. More than 40 million people visit USNews.com each month for research and guidance. Founded in 1933, U.S. News is headquartered in Washington, D.C.

SOURCE U.S. News & World Report

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