Best Student Loan Refinance Companies: June 2025 Comparison of Rates and Terms

Refinancing student loans can help you lower your interest rate, reduce monthly payments, or pay off debt faster. To help borrowers find the best options, we analyzed 696 data points from 22 lenders and financial institutions.

Our editorial ratings prioritize transparency, borrower experience, and cost-saving features to highlight the best student loan refinance companies for 2025.

Reviews of the best student loan refinance companies

Table of Contents

1. Reviews of the best student loan refinance companies
   1. Best for Comparing Refinance Options: Credible
   2. Best Direct Refinancing Lender: SoFi
   3. Best for Customer Service: ELFI
   4. Best for Low Rates: Earnest
   5. Best for Loans of Any Size: College Ave
   6. Largest Autopay Discount: PNC
   7. Best for International Students: MPOWER
   8. Best for Texas: Brazos
2. Honorable mention student loan refinance options
   1. Shortest Cosigner Release Period: Advantage Education Loan
   2. Best for Defaulted/Delinquent Loans: Yrefy
3. How much can student loan refinancing save me?
4. How to choose the best refinance student loan

Credible

Best for Comparing Refinance Options

5.0 _/5

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Why it’s one of the best
Credible doesn’t offer student loan refinances directly. Instead, Credible is an online student loan marketplace, meaning you can prequalify with and compare multiple lenders in one place. This enables you to find the loan with the lowest interest rate, lowest fees, lowest monthly payment option, or the best repayment term for your needs—whatever is most important to you. Some lenders on the platform have rates as low as 3.99%.

• Easy and fast way to compare multiple lenders
• Lenders with competitive rates and flexible repayment terms
• Free to use

• Still have to apply through actual lender
• Only shown limited partner lenders

Variable rates (APR)	4.31% – 12.05%
Fixed rates (APR)	3.99% – 11.09%
Loan amounts	Varies by lender
Repayment terms	5 – 20 years (may vary by lender)

SoFi

Best Direct Refinancing Lender

4.9 _/5

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Why it’s one of the best
SoFi is the overall best student loan refinance company. The online lender offers some of the most competitive interest rates (both fixed and variable), doesn’t charge fees, allows you to borrow up to the full balance of qualified student loans, and lets you redeem your SoFi Member Rewards (earned for basic banking account activity, if you bank with SoFi) toward student loan repayments.

• No fees
• Ability to redeem rewards points toward loan repayment
• Fixed rate as low as 4.49% with autopay discount

• No cosigner release available

Variable rates (APR)	5.99% – 9.99%
Fixed rates (APR)	4.49% – 9.99%
Loan amounts	$5,000 – full balance of qualified student loans
Repayment terms	5 – 20 years

ELFI

Best for Customer Service

4.7 _/5

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Why it’s one of the best
There’s a lot to love about student loan refinancing through ELFI, including the flexible repayment terms and competitive interest rates. But perhaps most admirable is ELFI’s commitment to customer service. ELFI has an A+ rating with the Better Business Bureau and 4.8 out of 5 stars on Trustpilot. When applying, you’ll be matched with a student loan advisor to help you navigate the options.

• Positive customer reviews
• Competitive interest rates
• Refinance up to your full balance of qualified loans

• No cosigner release
• $10,000 minimum refinance amount

Variable rates (APR)	Starting at 4.86%
Fixed rates (APR)	Starting at 4.88%
Loan amounts	$10,000 – total loan balance
Repayment terms	5 – 20 years

Earnest

Best for Low Rates

4.6 _/5

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Why it’s one of the best
Earnest offers the best low-rate student loan refinancing. Fixed rates go as low as 4.35% with autopay while variable rates start at 5.88%. You can get that rate in as little as 2 minutes with no impact to your credit score. Earnest has several features that make repayment more manageable, including its annual (fee-free) skip-a-payment feature and the ability to change your payment date.

• Refinance up to $550,000
• Competitive interest rates
• Skip-a-payment feature

• Not available in Nevada

Variable rates (APR)	Starting at 5.88%
Fixed rates (APR)	Starting at 4.35%
Loan amounts	$5,000 – $550,000
Repayment terms	5 – 20 years

College Ave

Best for Loans of Any Size

4.2 _/5

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Why it’s one of the best
College Ave allows you to refinance anywhere from $5,000 to $500,000 in student loans, depending on the source of your debt. (Refinance up to $150,000 for undergrad, $300,000 for grad, or $500,000 for medical, dental, pharmacy, or veterinary doctor degrees). Fixed and variable rates go as low as 6.99% with autopay. Repayment terms are flexible (from 5 to 20 years), and there are no application or origination fees.

Why it’s one of the best

College Ave allows you to refinance anywhere from $5,000 to $500,000 in student loans, depending on the source of your debt. (Refinance up to $150,000 for undergrad, $300,000 for grad, or $500,000 for medical, dental, pharmacy, or veterinary doctor degrees). Fixed and variable rates go as low as 6.99% with autopay. Repayment terms are flexible (from 5 to 20 years), and there are no application or origination fees.

While you can get cosigner release with College Ave, you aren’t eligible until you’re half way through the term—which is notably longer than many other lenders offering cosigner release.

• High max loan amount
• Flexible repayment terms
• Easy online application process
• No fees

• Longer cosigner release period
• Higher rates than many other lenders

Variable rates (APR)	6.99% – 13.99%
Fixed rates (APR)	6.99% – 13.99%
Loan amounts	$5,000 – $500,000, depending on type of debt (undergrad, grad, doctorate)
Repayment terms	5 – 20 years

PNC

Largest Autopay Discount

3.8 _/5

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Why it’s one of the best
Most lenders offer an autopay rate discount of 0.25%, but PNC doubles that to a 0.5% rate discount when you refinance with the bank. Another key reason to consider PNC is that you can refinance your student loans even if you didn’t graduate. Rates are notably higher, but some other lenders require borrowers to have graduated from an eligible program—making PNC a good option if you didn’t finish school.

• Larger autopay discount
• Available to borrowers who didn’t finish school
• Cosigner release after 48 months

• Higher rates than some other lenders
• Max 15-year repayment term
• $10,000 minimum refinance amount

Variable rates (APR)	6.69% – 16.39%
Fixed rates (APR)	5.79% – 15.04%
Loan amounts	$10,000 – $200,000
Repayment terms	5 – 15 years

MPOWER

Best for International Students

3.8 _/5

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Why it’s one of the best
MPOWER Financing offers student loan refinancing to international students who have stayed in the U.S. and want to release their cosigner, get a lower interest rate or monthly payment, and start building credit history in the United States. Employer-matching programs for student loan payments only work with U.S.-based loans—which makes MPOWER a smart option for students who want to refinance international loans.

• Low minimum loan amount ($2,001)
• Ability for international graduates to release cosigner
• Ability for international graduates to build U.S. credit history
• Ability for international graduates to get employer matching

• High fixed APR (11.52% with autopay discount)
• Inflexible repayment term (10 years only)
• Low max loan amount ($100,000)

Variable rates (APR)	N/A
Fixed rates (APR)	11.52%
Loan amounts	$2,001 – $100,000
Repayment terms	10 years

Brazos

Best for Texas

3.8 _/5

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Why it’s one of the best
Brazos Higher Education has a limited audience: Their student loan refinances are for Texas residents only. But if you do live in Texas, Brazos is among the best of the best student loan refinance companies, with fixed rates starting as low as 3.99% (with autopay discount), zero fees, and an easy online application process. Qualifying can be tough though, with higher income and credit score requirements, and a higher refinance minimum than other lenders.

• Low interest rates
• Refer-a-friend bonus
• No fees
• Flexible repayment terms

• Only available to Texas residents
• Strict eligibility requirements without cosigner
• $10,000 minimum refinance amount

Variable rates (APR)	Starting at 4.31%
Fixed rates (APR)	Starting at 3.99%
Loan amounts	$10,000 – $250,000 for bachelor’s degree or $400,000 for graduate degree
Repayment terms	5 – 20 years

Honorable mention student loan refinance options

The following companies have not yet been rated in our editorial ratings process, but we think they are worth a look for specific situations.

Advantage Education Loan

Shortest Cosigner Release Period

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Why it’s one of the best
Advantage Education is a great student loan refinance option if you’re hoping to drop a cosigner quickly. At Advantage, a not-for-profit lender, you could be eligible for cosigner release in as few as 12 months. Advantage only offers fixed rates, and there are no fees. You can even refinance without a degree, and customer service is top-notch. It’s not available in every state, though, and it has a slightly higher minimum refinance amount.

• No degree required
• Cosigner release available after 12 months
• No fees

• No short repayment options available
• $7,500 minimum refinance amount
• Difficult-to-navigate website
• Not available in Alaska, Delaware, Illinois, Iowa, Nevada, New Jersey, Main, Maryland, Rhode Island, or Washington.

Variable rates (APR)	N/A
Fixed rates (APR)	Starting at 5.15%
Loan amounts	$7,500 – $200,000+
Repayment terms	10 – 20 years

Yrefy

Best for Defaulted/Delinquent Loans

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Why it’s one of the best
Yrefy is the best student loan refinance company for borrowers with poor credit. Unlike most other lenders, Yrefy is willing to work with borrowers of all credit backgrounds and specializes in delinquent and defaulted loans, with a low fixed interest rate (1.00% to 5.99%) to boot. The catch? Repayment terms are only from three to 10 years (15 years in special cases) and there’s a 5% origination fee.

• Available to borrowers with poor credit
• Low interest rate
• Great customer service
• Skip a payment once every6 months (up to 12 times total) without penalty

• No variable rates
• No autopay discount
• High loan origination fee (5%)
• Shorter repayment term

Variable rates (APR)	N/A
Fixed rates (APR)	1.00% – 5.99%
Loan amounts	$5,000 up to $250,000 or more, depending on circumstances
Repayment terms	3 – 10 years; 15 years in special instances

How much can student loan refinancing save me?

Refinancing can be a smart move—but how much you save depends on your current rates, your new rate, and how long you plan to take to pay off your loans.

Let’s say you’ve got $40,000 in student loans at a 7.5% interest rate. If you refinance to a new 10-year loan at 5.5%, you could save over $5,000 in interest over the life of the loan. Choose a shorter term or a lower rate, and the savings grow even more. On the flip side, extending your loan term might lower your monthly payment—but cost you more in interest over time.

Curious what that could look like for you?

Try it here. Our calculator will show you your monthly savings, total interest saved, and help you compare loan terms side by side.

Refinancing only makes sense if you have a high interest rate where you’re trying to lower the total cost of the loan. In some cases, if the payment is too much, refinancing will make sense to extend the loan repayment term.

How to get the best student loan refinance rates

Refinance rates change based on market conditions, but lately they’ve been trending down slightly thanks to easing inflation and the possibility of future Fed rate cuts. For borrowers with strong credit, current fixed rates are often in the 5%–6% range—lower than what many people originally borrowed at.

To get the best rate possible, focus on what lenders care about most:

• Credit score: A score above 740 typically unlocks the best offers.
• Debt-to-income ratio: The lower, the better—ideally under 40%.
• Steady income: Lenders want to know you can comfortably repay the loan.
• Cosigner option: If your credit isn’t quite there yet, a strong cosigner can help you qualify.
• Loan term: Shorter terms usually come with lower interest rates.

And don’t just go with the first lender that says yes. Prequalify with a few different ones (it won’t hurt your credit) and compare rates, terms, and monthly payments side by side.

How to choose the best refinance student loan

Once you’ve got a few lenders in front of you, the hard part isn’t finding options—it’s figuring out which one actually fits your life. They’ll all show you rates and terms, but the right pick comes down to what you need, not just what looks good on paper.

Here’s how to cut through the noise:

• Look beyond the rate. Yes, a low interest rate is important—but also check the APR (which includes any fees) and make sure the term length works for your monthly budget. A lower payment might feel easier now, but it could mean paying a lot more over time.
• Fixed or variable? Fixed rates give you consistency—no surprises. Variable rates can start lower but might rise later. If you plan to pay off your loan fast, variable could save you money. If not, fixed is usually the safer bet.
• Is there a safety net? Life happens. Some lenders offer temporary forbearance or other hardship options if your income takes a hit. It’s worth checking before you sign.
• Pay attention to the user experience. Can you prequalify without a hard credit pull? Is the application clear and straightforward? Do they answer questions quickly if you reach out? These little things make a big difference once you’re locked into a loan.
• Trust your instincts. If something feels off, don’t ignore it. A loan might look good on the surface, but if the lender is hard to reach, vague about terms, or just gives you a weird vibe—that’s a red flag.

There’s no one-size-fits-all here. The best lender is the one that meets your financial goals and feels like a partner—not a pain.

Determine what your primary goal is when refinancing. Is it to have the lowest payment right now? Is it to pay your loans off as quickly as possible? Is it to save the maximum amount possible over the life of the loan? You also need to ask yourself what you can afford today and whether you are expecting big pay raises over the next few years.

Understanding what is most important to you will help you determine which direction you should go. Your future income projections will also help you determine whether you should stick with a fixed rate. Or, if you’re expecting your income to rise dramatically, maybe it makes sense to go with a lower variable rate with the intention of supercharging your payments in the future or, worst case scenario, if a variable rate goes up that you can actually afford the payments.

More student loan refinancing resources

Still figuring out whether refinancing makes sense for you—or just want to dive deeper into the details? These guides break it all down:

How we rated the best student loan refinance companies

Since 2015, LendEDU has evaluated student loan companies to help readers find the best options for refinancing student loans. Our latest analysis reviewed 696 data points from 22 lenders and financial institutions, with 29 data points collected from each. This information is gathered from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives.

These data points are organized into broader categories, which our editorial team weights and scores based on their relative importance to readers. These star ratings help us determine which companies are best for different situations. We don’t believe two companies can be the best for the same purpose, so we only show each best-for designation once.

Higher star ratings are ultimately awarded to companies that create an excellent borrower experience and help borrowers receive lower rates or more manageable payments. This includes offering online eligibility checks, cost transparency, competitive interest rates with no fees, and unique benefits that support borrowers throughout repayment.