| Company | What to know | Loan amounts | Rating (0-5) |
|---|---|---|---|
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Best for Defaulted Private Student Loans | $5,000+ |
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Best for Comparison Shopping | Vary by lender |
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Terms & Disclosures
Student Loan Refinance Loans Disclosures Actual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.74% APR to 10.24% APR (4.49% – 9.99% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.24% APR (5.88% – 9.99% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, MS, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and requires selection of our shortest term offered and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
Earnest Loans are made by Earnest Operations LLC. Earnest Operations LLC, NMLS #1204917. 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. California Financing Law License 6054788. Visit www.earnest.com/licenses for a full list of licensed states. For California residents: Loans will be arranged or made pursuant to a California Financing Law License. Skip a payment disclosure: Earnest clients may skip a payment through a one, one-month forbearance during a 12 month period. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Interest will not be capitalized on loans originated to Michigan residents under the Regulatory Loan Act of 1963. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term. |
Best Skip-A-Payment Benefit | $5,000 – $500,000 |
Terms & Disclosures
Student Loan Refinance Loans Disclosures Actual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.74% APR to 10.24% APR (4.49% – 9.99% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.24% APR (5.88% – 9.99% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, MS, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and requires selection of our shortest term offered and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
Earnest Loans are made by Earnest Operations LLC. Earnest Operations LLC, NMLS #1204917. 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. California Financing Law License 6054788. Visit www.earnest.com/licenses for a full list of licensed states. For California residents: Loans will be arranged or made pursuant to a California Financing Law License. Skip a payment disclosure: Earnest clients may skip a payment through a one, one-month forbearance during a 12 month period. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Interest will not be capitalized on loans originated to Michigan residents under the Regulatory Loan Act of 1963. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term. |
Graduating isn’t a requirement for refinancing student loans at every lender. While many require a diploma, a growing number of private lenders offer options for borrowers who didn’t finish school. These lenders may evaluate your credit score, payment history, or income instead.
If your private student loan is in default or about to be in default, there is a lender who specializes in private student loan refinancing for struggling borrowers:
- No application or repayment fees
- Great for borrowers with Poor or Fair credit
- Flexible payment terms
- Refinance without a degree
- 7+ years assisting distressed borrowers improve their credit score
- Checking rates will not impact your credit score
Below, we highlight lenders that allow you to refinance student loans without a degree, along with eligibility details, rates, and pros and cons.
Credible
About Credible’s refinancing
- Many positive customer reviews
- $200 best rate guarantee
- Open about its partner lenders
- Fewer lenders in network than several other marketplaces
- Doesn’t offer support once loan is made
- We found lower rates on other comparison sites
Credible is a marketplace, so degree requirements vary by partner lender. Some lenders within its network will allow you to refinance without graduating, especially if you have a strong credit history and income. It’s a good first stop if you’re not sure which lenders are flexible on degree status.
| Fixed Rates (APR) | 3.99% – 11.09% |
| Variable Rates (APR) | 4.31% – 12.05% |
| Loan amounts | Vary by lender |
| Repayment terms | 5 – 20 years (may vary by lender) |
Earnest
About Earnest’s refinancing
- Choose between biweekly and monthly payments
- Adjust your payment date if needed
- Make extra or early payments with no fees
- Skip one payment per year without penalty
- Cosigners must reside in the same state as the borrower
- Not available in Nevada
Earnest has one of the clearest policies for refinancing without a degree, but it’s also among the strictest. You must be more than six years out of school, have a credit score of at least 700, and your school can’t be a for-profit institution. If you meet those criteria, Earnest can be an excellent fit for nongraduates with solid finances.
| Fixed Rates (APR) | 4.35% – 9.99% |
| Variable Rates (APR) | 5.88% – 9.99% |
| Loan amounts | $5,000 – $500,000 |
| Repayment terms | 5 – 20 years |
| Min. credit score | 665 |
Before refinancing, gather your income and expenses and create a budget to see what payments fit. Then compare lenders carefully. If you have a cosigner, consider releasing them; if not, adding one could help you qualify or get a better rate.
Should you refinance your loans without a degree?
If you can qualify based on credit and income, refinancing could save you money on interest or lower your monthly payment. But it isn’t always the right move:
- Avoid refinancing federal loans if you need access to benefits like income-driven repayment or forgiveness.
- Compare multiple lenders since rates and eligibility vary.
- Weigh adding or removing a cosigner depending on your credit profile and goals.
Ask yourself what you’re hoping to achieve: lower payments, reduced interest, or removing a cosigner. Consider whether your loans are federal or private and if you still need federal protections. Your income, budget, and the current interest rate environment should all factor into your decision.
FAQ
Do I need a cosigner to refinance without graduating?
It depends. A strong credit profile may be enough, but adding a cosigner can improve your chances and rates.
Does refinancing without a degree hurt my credit?
You may see a temporary dip from the hard inquiry, but refinancing can help your credit long-term if you make on-time payments.
Will I lose federal loan protections if I refinance?
Yes. If you refinance federal loans with a private lender, you’ll lose benefits like IDR plans and forgiveness programs.
Recap of lenders that will refinance student loans with no degree
| Company | What to know | Loan amounts | Rating (0-5) |
|---|---|---|---|
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Great for Defaulted Private Student Loans | Lorem ipsum |
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|
|
Best for Comparison Shopping | Vary by lender |
|
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Terms & Disclosures
Student Loan Refinance Loans Disclosures Actual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.74% APR to 10.24% APR (4.49% – 9.99% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.24% APR (5.88% – 9.99% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, MS, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and requires selection of our shortest term offered and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
Earnest Loans are made by Earnest Operations LLC. Earnest Operations LLC, NMLS #1204917. 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. California Financing Law License 6054788. Visit www.earnest.com/licenses for a full list of licensed states. For California residents: Loans will be arranged or made pursuant to a California Financing Law License. Skip a payment disclosure: Earnest clients may skip a payment through a one, one-month forbearance during a 12 month period. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Interest will not be capitalized on loans originated to Michigan residents under the Regulatory Loan Act of 1963. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term. |
Best Skip-A-Payment Benefit | $5,000 – $500,000 |
Terms & Disclosures
Student Loan Refinance Loans Disclosures Actual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.74% APR to 10.24% APR (4.49% – 9.99% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.24% APR (5.88% – 9.99% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, MS, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and requires selection of our shortest term offered and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
Earnest Loans are made by Earnest Operations LLC. Earnest Operations LLC, NMLS #1204917. 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. California Financing Law License 6054788. Visit www.earnest.com/licenses for a full list of licensed states. For California residents: Loans will be arranged or made pursuant to a California Financing Law License. Skip a payment disclosure: Earnest clients may skip a payment through a one, one-month forbearance during a 12 month period. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Interest will not be capitalized on loans originated to Michigan residents under the Regulatory Loan Act of 1963. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term. |
About our contributors
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Written by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.
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Edited by Kristen Barrett, MAT
Kristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.