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Last update: October 17, 2024
3 minutes read
Abe: Private Student Loan Review
Explore our comprehensive Abe Student Loans review covering rates, repayment options, and unique benefits like no fees and flexible payment relief. Find the right loan today!
By Yerain Abreu, M.S.
Edited by Derick Rodriguez, Associate Editor
Learn more about our editorial standards
Abe Review Snapshot
BEST FOR:
Long grace period
VARIABLE APR
5.13%-16.36%¹
FIXED APR
3.99%-15.00%¹
By Yerain Abreu, M.S.
Edited by Derick Rodriguez, Associate Editor
Learn more about our editorial standards
Choosing the right student loan lender can feel overwhelming, but we’re here to guide you through Abe Student Loans, a lender offering plain, honest loans with no fees and a focus on flexibility. Let’s explore what makes Abe an appealing choice for students pursuing higher education.
Our final verdict
With unique benefits like In-School Default Protection and early cosigner release, Abe offers an array of advantages that make it stand out in the competitive student loan market.
About Abe
Abe Student Loans is a private lender focused on providing clear, straightforward loan products to undergraduate and graduate students. With no fees for applications, origination, late payments, or prepayments, Abe ensures transparency at every step. Loans are available for a wide range of degree programs, from associate degrees to specialized graduate programs like MD, JD, and MBA.
What sets Abe apart is their commitment to offering flexible repayment options, including In-School Default Protection, which automatically adjusts your repayment plan if you face difficulties while in school. Abe also rewards good financial behavior by offering interest rate reductions for making on-time payments and using autopay.
TuitionHero tip
Remember to borrow wisely and always explore federal loans, grants, scholarships, and work-study options before taking out a private student loan. Our user-friendly platform lets you explore and compare college financing options personalized to your unique situation.
Undergraduate loan details
Abe provides loans that range from $1,000 up to Up to 100% of attendance costs (aggregate) for undergraduate students. They offer fixed rates from 3.99% to 15.00% or variable rates from 5.13% to 16.36% (including the autopay discount!).
Borrowers can rest easy knowing that there are:
- No application fees
- No origination fees
- No late fee
- No prepayment penalties
Adding a cosigner to your loan, such as a friend or relative with strong credit, may also be an attractive option because you may likely get a lower rate and a higher chance of approval.
Repayment options
Abe offers various hardship and other repayment options that provide borrowers with relief during times of financial stress. Some choices include deferring payments until after graduation, making interest-only payments while in school, or temporarily making partial payments.
Grace period: 12 months (6 months grace guaranteed + possible 6 months grace extension)
5.13%-16.36%¹
3.99%-15.00%¹
$1,000 - 100% of attendance costs
N/A
Not Disclosed
5.13%-16.36%¹
3.99%-15.00%¹
$1,000 - 100% of attendance costs
N/A
Not Disclosed
Autopay discount: Sign up for automatic payments and lower your interest rate by 0.25%.
Graduation reward: Upon request after graduating, reduce your principal balance by 2% of your net disbursed loan amount.
Added benefit: For every six months of on-time principal and interest payments, Abe lowers your rate by 0.05%— for a total reduction of up to 0.25%.
Eligibility
Who can benefit from Abe's loan options? Here are the core eligibility requirements for their private student loans:
Age: You must be the legal age of majority, or at least 17 years of age at the time of application if applying with a cosigner who meets age of majority requirements in the cosigner’s state of residence.
Location: The Abe student loan is not available to permanent residents of Colorado, Connecticut, Maine, Nebraska, Oregon, Texas, or West Virginia.
School attended: Undergraduate or graduate student enrolled at an eligible, 4-year institution in a degree-granting or graduate certificate program.
TuitionHero tip
If you're not eligible, try applying with a cosigner! Adding a cosigner to your loan application may help you get a lower interest rate and increase your chances of being approved.
Compare Abe to other lenders
Unsure if Abe is the right lender for you? Take a moment to check out some of their biggest competitors to see which lender works best for you.
Our top pick
Abe
5.13%-16.36%¹
3.99%-15.00%¹
Disclosures
Grace period- Immediate repayment
- Fixed repayment
- In-school deferment
- No application fees
- No prepayment penalties
- No origination fees
- No late fee
Abe
Disclosures
5.13%-16.36%¹
3.99%-15.00%¹
- Grace period
- Immediate repayment
- Fixed repayment
- In-school deferment
- No application fees
- No prepayment penalties
- No origination fees
- No late fee
Abe
Disclosures
5.13%-16.36%¹
3.99%-15.00%¹
- Grace period
- Immediate repayment
- Fixed repayment
- In-school deferment
- No application fees
- No prepayment penalties
- No origination fees
- No late fee
Ready to get started?
Compare student loan rates from all the top lenders with zero impact on your credit score.
Customer service
Customer support can be a make-or-break factor when evaluating a potential lender. Fortunately, Abe's customer service is top-notch.
Abe offers multiple ways to contact them.
- Website: www.abestudentloans.com
- Email: customerservice@abestudentloans.com
- Phone: 833-499-2254
- Hours: Not listed
Frequently asked questions (FAQ)
Here are some of the most common questions we get asked about Abe.
Abe’s In-School Default Protection ensures that if you struggle to make payments during school, your loan will automatically switch to a deferred payment plan to avoid default, protecting your credit.
Abe offers a standard 6-month grace period after graduation before you need to start making payments, with the option to extend it for an additional 6 months if needed.
Yes, Abe allows cosigner release after just 12 consecutive months of on-time principal and interest payments, provided you meet certain credit and financial requirements.
Abe offers six payment relief options, including deferment for medical internships, residencies, unemployment, and illness. You can also defer payments during financial hardships or re-enrollment.
No, Abe does not charge prepayment penalties, allowing you to pay off your loan early without any extra fees.
If you experience financial difficulties, Abe offers several deferment and forbearance options, including medical forbearance and unemployment protection, to help you temporarily pause or reduce payments.
Final thoughts
Abe Student Loans offers a simple, transparent student loan option with competitive rates, flexible repayment plans, and a host of borrower-friendly benefits. Choosing the right loan is crucial for your financial future, and Abe stands out with its unique features and commitment to helping students succeed.
Source
Author
Yerain Abreu
Yerain Abreu is a Content Strategist with over 7 years of experience. He earned a Master's degree in digital marketing from Zicklin School of Business. He focuses on college finance, a niche carved out of his journey through the complexities of academic finance. These firsthand experiences provide him with a unique perspective, enabling him to create content that's informative and relatable to students and their families grappling with the intricacies of college financing.
Editor
Derick Rodriguez
Derick Rodriguez is a seasoned editor and digital marketing strategist specializing in demystifying college finance. With over half a decade of experience in the digital realm, Derick has honed a unique skill set that bridges the gap between complex financial concepts and accessible, user-friendly communication. His approach is deeply rooted in leveraging personal experiences and insights to illuminate the nuances of college finance, making it more approachable for students and families.
At TuitionHero, we're not just passionate about our work - we take immense pride in it. Our dedicated team of writers diligently follows strict editorial standards, ensuring that every piece of content we publish is accurate, current, and highly valuable. We don't just strive for quality; we aim for excellence.
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