Purefy Student Loans and Refinancing Review 2025: Solid Platform to Compare Rates and Terms

3.8 _/5

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Student Loan Refinance & Private Student Loans

• Compare offers from private student loan and refinance lenders
• Partner lenders evaluated on trust, transparency, rates, and more
• 2-minute prequalification allows you to check rates with no impact on your credit score
• Resources available for students, parents, graduates, and professionals
• No fees to use the platform
• Transfer Parent PLUS loans to child

• Limited to Purefy’s partners

Purefy is a valuable comparison platform that connects borrowers with top-rated lenders. Many of its top-rated private lenders match our recommendations for the best private student loan lenders and best student loan refinance lenders.

We think Purefy is a beneficial platform, linking borrowers with lenders that align with their needs.

The following table provides an overview of four of Purefy’s top-rated lenders and where they stand in our editorial ratings and best-for designations:

Table of Contents

1. Purefy’s refinance student loans
2. Purefy private student loans
3. Pros and cons
4. Alternatives to Purefy
5. How to apply
6. FAQ

Purefy’s refinance student loans

When it comes to refinancing student loans, Purefy offers a competitive selection through its partnered lenders. With fixed and variable rates available, borrowers can explore options that align with their financial goals. The range of terms and features provides flexibility, making it worth comparing to others in the industry.

Here’s a breakdown of the common terms Purefy’s partners offer.

Term	Details
Loan amounts	Typically $5,000+
Fixed rates (APR)	Purefy publishes 4.49 – 8.99 but it will depend on the lender and your credit score
Variable rates (APR)	Purefy publishes 5.09 – 8.99 but it will depend on the lender and your credit score
Repayment terms	Typically 5 – 20 years
Cosigner release	Depends on lender, many offer release after a certain number of payments
Fees	Zero fees with a student loan refinance through Purefy
Unique features	Rate discounts for autopay, forbearance for repayment assistance

With varying rates, terms, and features, borrowers can choose the lender and product that best meets their needs.

Eligibility requirements

Refinancing student loans through Purefy is an option for those who have finished school or are no longer enrolled. Other eligibility varies by lender and can include factors such as credit score, degree type, and income. 

Cosigners are typically accepted, and in many cases, the lender might  recommend them to qualify for the lowest available rates or meet other criteria.

Here’s a table detailing the typical requirements for eligibility:

Requirement	Details
Citizenship	Varies but typically U.S. citizen or permanent resident; Some international students with cosigners are eligible
State of residence	Varies, but many partner lenders operate in all 50 states
Graduation status	Must be out of school or no longer enrolled in school to be eligible to refinance with one of Purefy’s lenders.

Please note, interest rates are based on individual lenders’ requirements, including credit score, degree type, and other credit and financial criteria. Borrowers with excellent credit who meet other lender criteria may qualify for the lowest rate available.

Repayment

Repaying a refinance student loan through Purefy depends on the lender’s terms and conditions. Repayment terms typically range from five to 20 years, depending on the lender, and some offer repayment assistance, including forbearance. 

With refinance student loans through Purefy, repayment generally starts right after the loan is disbursed. The borrower can often select a plan that suits their needs, but lender policies and specific loan terms can also influence when repayment begins.

Repayment length for a refinance student loan through Purefy depends on the lender’s specific terms and the borrower’s preferences.

Refinancing parent student loans through Purefy

Different borrowers have unique needs and circumstances. Recognizing this, Purefy offers a specialized refinance student loan option in its marketplace—parent refinance student loans, tailored to assist parents who have taken loans for their children’s education.

• Who it’s for: Parents who have borrowed to finance their child’s education.
• Terms and eligibility: The terms and eligibility requirements align with Purefy’s standard student loan refinance options.
• Benefits and features:
  • Flexible options: Allows for transferring Parent PLUS loans to the child.
  • Various lenders: Choose between lenders with various terms and conditions.
  • Potential savings: The opportunity to find lower interest rates or more favorable repayment terms, depending on the lender.

This specialized offering through Purefy reflects an understanding of the diverse needs of borrowers, providing options that consider different family dynamics and financial situations.

Purefy private student loans

Purefy’s private student loan options offer various choices from various participating lenders. Because Purefy serves as a marketplace, the loan terms vary across lenders, offering tailored options for borrowers.

Below is a snapshot of the general terms from Purefy’s participating lenders:

Term	Detail
Loan amounts	Up to 100% certified cost of attendance
Fixed rates (APR)	4.42 – 16.99
Variable rates (APR)	4.98% – 16.99
Repayment terms	Ranges from 5 – 20 years, varies by lender
In-school repayment options	Deferred, interest only, flat $25, or principal and interest
Grace period	Typically 6 or 9 months, longer for specialized graduate loans
Cosigner release	Varies, usually after a number of on-time payments
Fees	No fees from Purefy for using the platform, and no origination fees or prepayment penalties from participating lenders
Unique features	Rate discounts and other benefits may depend on the lender

Eligibility requirements

Since Purefy isn’t a lender itself, the eligibility requirements differ across the partnering lenders, which typically look at credit score, degree type, and other financial criteria.

Purefy recommends cosigners for those without a credit history or solid income, as well as those with less than excellent credit. Even if you can qualify on your own, it says, students typically can secure lower rates if they add a cosigner to the application.

Here are the general eligibility requirements that can influence qualifications for a student loan on Purefy’s marketplace:

Requirement	Details
Citizenship	Varies, typically U.S. citizen or permanent resident; options for international students with cosigners
State of residence	Available in all 50 states for many lenders
Minimum age	Age of majority usually required
Enrolled school	Varies by lender but many lenders have a list of eligible schools
Enrollment status	Typically part-time enrollment at least; variations exist
Minimum credit score	Varies; many lenders require a cosigner for qualification or to get the lowest rates
Minimum income	Varies by lender

Repayment

Repaying private student loans found through Purefy’s marketplace depends on the lender and loan product you select. Purefy connects students to various lenders, but the lender dictates the terms, options, and conditions of repayment. 

Not all student loans have the same repayment terms; they differ because of variations in loan amounts, interest rates, borrower preferences, and lender-specific policies. The following subsections explore these dynamics in detail:

In-school repayment options

Several factors influence the beginning of repayment, including the selected repayment plan, loan term, and grace period. 

Borrowers often have control over when repayment begins by choosing their desired plan and term. However, they may not have control over certain terms, such as grace periods, which the lender defines. A typical grace period for an undergraduate student loan, for example, is six months.

Here’s a breakdown of common in-school repayment options:

Option	Description
Deferred	Payments postponed while in school, full principal and interest payments begin after the grace period following graduation or leaving school
Interest only	Only interest payments while in school and through the grace period
Flat $25	Fixed $25 monthly payment while in school and through the grace period
Principal + interest	Full payments of principal and interest while in school and throughout the repayment term

Repayment terms

The loan’s terms will determine the length of repayment and may range from five to 20 years, depending on the lender. Borrowers often have control over selecting their repayment terms, influencing monthly payments and total costs. 

Most lenders will let you pay off the loan early without penalty, providing flexibility and potential savings. 

Pros and cons of using Purefy

Selecting the right refinance student loan can be complex, and Purefy seeks to simplify this process. Here’s an analysis of the pros and cons of using Purefy to help you make an informed decision.

Pros

• Research is done for you

  Purefy conducts thorough research, presenting you with only the best options.

• Compare several lenders at once

  Multiple lenders are listed side by side for easy comparison.

• Only lenders that have passed Purefy’s criteria are presented

  You’re assured of quality.

• Simple process and platform

  Purefy’s user-friendly interface makes navigation and decision-making smooth.

• Prequalify without harming your credit

  You can check your eligibility without a hard credit inquiry.

• No fees

  Purefy doesn’t charge fees, making the process cost-efficient.

Cons

• Limited to Purefy’s partners

  Your options are restricted to Purefy’s partner lenders, potentially limiting choices.

Alternatives to Purefy

If you’re comparing student loan refinance marketplaces, Credible is our top-rated alternative to Purefy.

Like Purefy, Credible lets you compare real rates from multiple lenders with one quick form—but it stands out for its larger lender network, which increases your chances of finding a competitive offer. It also offers a $200 best rate guarantee if you find a better rate elsewhere, which adds extra peace of mind during your search.

While both marketplaces are free to use and don’t affect your credit score to check rates, Credible may offer more flexibility and a broader range of options, making it a strong choice for borrowers who want to compare as many lenders as possible.

Purefy reviews from customers

Purefy is a unique case in the customer review landscape. It has zero ratings on customer review platform Trustpilot, and no information is available on Google or the Better Business Bureau.

What should you make of no reviews? In this scenario, it is important to understand Purefy’s role as a comparison tool for lenders rather than a direct lender itself. Purefy assists you in vetting and comparing multiple lenders, saving time and offering insights into potential refinancing options. 

However, as with any financial decision, conducting your own research and cross-referencing with other sources is crucial.

How to contact Purefy

Purefy’s customer service team assists potential borrowers with information, inquiries, and comparison services. They guide users through the process of comparing and selecting lenders for student loan refinancing. 

You can reach Purefy’s customer service through various channels. The team operates from 9 a.m. to 6 p.m. Eastern, Monday through Friday. Here are the ways you can contact them:

• Call or text: 202-524-1115
• Email: [email protected] 
• Social media: Facebook, Instagram, LinkedIn

Purefy’s customer service is designed to make the selection process as smooth as possible, providing multiple contact options to ensure prompt answers to your questions.

How to apply with Purefy

Applying for a student loan or student loan refinance through Purefy will depend on the lender. You prequalify through Purefy, which is fast and simple. You’ll complete the full application on your chosen lender’s website. Here’s what you can expect for the prequalification process:

1. Complete the prequalification form: Enter basic information including your name, school, graduation, and income. This step generally takes about 2 minutes.
2. See a list of lenders and prequalified rates: Browse the list and click “select” to apply for the loan that best suits you. This step takes about 15 seconds.
3. Select a lender and apply: You’ll be redirected to the chosen lender’s website to complete the application, which can take around 15 minutes.

You can apply for a loan through Purefy any time. However, it may take up to 60 days for the lender to disburse funds to your school. Planning ahead is crucial to ensure you meet your tuition due dates.

Purefy FAQ

Does Purefy offer private or federal student loans?

Purefy is a platform that allows you to compare various private student loan lenders. It doesn’t directly offer student loans, but it provides access to lenders who might have various private loan options tailored to your needs.

Does applying with Purefy hurt my credit?

Applying with Purefy won’t harm your credit. The platform provides a prequalification process that only requires a soft credit inquiry. This helps you explore different loan options without affecting your credit score.

After prequalification, you will be directed to the lender’s site to apply. Most student loan applications do require a hard credit inquiry, which temporarily impacts your credit. But you can rebound the score through on-time payments.

Does Purefy require a cosigner?

Requiring a cosigner depends on the specific lender you choose through Purefy. Some lenders might require a cosigner, especially if you have a limited or low credit score. 

However, options may be available without a cosigner if you meet the lender’s criteria. A cosigner can help you secure better interest rates.

Does Purefy allow cosigners to be released?

Cosigner release policies vary by lender, not Purefy itself. If you choose a lender that accepts a cosigner, make sure to review that lender’s specific terms and conditions. Some may allow for a cosigner to be released after meeting certain requirements, such as on-time payment history.

What can Purefy student loans be used for?

Purefy connects you with lenders that offer student loans, which you must use for educational expenses. These may include tuition, fees, room and board, books, and other related costs. The exact use of funds might depend on the lender’s guidelines and your school’s cost of attendance.

How long does it take to receive funds from Purefy?

Since Purefy is a comparison platform, the time to get funds depends on the lender you choose. Generally, it can take anywhere from 30 to 60 days for the funds to be disbursed to your school. Make sure to check with the selected lender for exact timelines.

Is Purefy responsible for paying off my current student loans?

Purefy itself is not responsible for paying off your current student loans. When refinancing, the new lender that you choose through Purefy will pay off your loans and consolidate them into one new loan. 

Can Purefy student loans be forgiven?

Purefy doesn’t offer student loans itself but connects you with private lenders. Private student loans are not eligible for federal forgiveness programs. Check with the lender you select for any unique forgiveness options or repayment assistance it may offer.

How we rated Purefy

We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans and refinancing. Our system awards higher ratings to companies with affordable solutions, positive customer reviews, and online transparency of benefits and terms.

We compared Purefy to several student loan lenders, using hundreds of data points from company websites, public disclosures, customer reviews, and direct communication with company representatives. We weighted, scored, and combined each factor to produce a final editorial rating. This rating is expressed on a scale from 1 to 5, with 5 being the highest possible score. Our take is represented in our rating, recapped below.

Product	Our rating
Purefy student loan refinancing & private student loans	3.8/5