Best Student Loan Refinance Companies
Starting May 5, 2025, the federal government resumed collections on defaulted student loans.
Looking to Overcome Defaulted Private Student Loans?
Yrefy helps borrowers by offering solutions to resolve distressed private student loans, providing a path to financial recovery and improved credit standing.
Defaulted Student Loan Options
- No application or repayment fees
- Flexible payment terms
- Refinance without a degree
- 7+ years assisting distressed borrowers improve their credit score
- Checking rates will not impact your credit score
- No application or repayment fees
- Flexible payment terms
- Refinance without a degree
- 7+ years assisting distressed borrowers improve their credit score
- Checking rates will not impact your credit score
Explore possible savings through refinance
Our picks offer low rates, repayment assistance, and unique benefits that can reduce your monthly payment and overall loan cost.
Great Graduate Student Options
- 475,000+ members have refinanced over $41 billion in student loans
- Rates from 4.19% to 14.83% APR with autopay
- Compare real offers from multiple lenders in 3 minutes
- 100% free with no fees
- Checking rates will not impact your credit score
- Easy automated application process
- Excellent (Trustpilot Rating)
- 475,000+ members have refinanced over $41 billion in student loans
- Rates from 4.19% to 14.83% APR with autopay
- Compare real offers from multiple lenders in 3 minutes
- 100% free with no fees
- Checking rates will not impact your credit score
- Easy automated application process
- Excellent (Trustpilot Rating)
Flexible Repayment Options
- Check you rate in about 2 minutes with no impact to your credit score
- Rates from 5.24% to 12.43% APR
- No application fee
- Interest rate discounts
- One monthly payment
- Quote is valid for 30 days
- Flexible payment options
- Check you rate in about 2 minutes with no impact to your credit score
- Rates from 5.24% to 12.43% APR
- No application fee
- Interest rate discounts
- One monthly payment
- Quote is valid for 30 days
- Flexible payment options
Best Overall (Editor's Choice)
- Multiple lenders catering to large loan amounts
- Rates from 3.85% to 12.66% APR
- No fees or impact on your credit score
- Compare prequalified rates in 2 minutes
- Federal, private, and Parent PLUS loans are eligible
- Excellent (Trustpilot Rating)
- Multiple lenders catering to large loan amounts
- Rates from 3.85% to 12.66% APR
- No fees or impact on your credit score
- Compare prequalified rates in 2 minutes
- Federal, private, and Parent PLUS loans are eligible
- Excellent (Trustpilot Rating)
Best Online Lender
- 475,000+ members have refinanced over $41 billion in student loans
- Rates from 4.19% to 14.83% APR with autopay
- Get your rate in 2 minutes, no credit impact
- No origination, late payment, or other fees
- Select your term length and a fixed or variable rate for an affordable monthly payment
- Excellent (Trustpilot Rating)
- 475,000+ members have refinanced over $41 billion in student loans
- Rates from 4.19% to 14.83% APR with autopay
- Get your rate in 2 minutes, no credit impact
- No origination, late payment, or other fees
- Select your term length and a fixed or variable rate for an affordable monthly payment
- Excellent (Trustpilot Rating)
How Does Student Loan Refinancing Work?
Student loan refinancing works by replacing an existing loan (or multiple loans) with a new one. In most cases, some combination of your interest rate, term length, and monthly payment will change from your previous loan(s).
Borrowers usually refinance student loans to take advantage of lower interest rates, which can reduce the overall cost of the loan. Other benefits include the ability to consolidate multiple loans into a single payment, customize terms for more predictable monthly payments, and release a cosigner.
What Does Refinancing Cost?
Refinancing itself usually doesn’t have a direct cost. Most lenders don’t charge application, origination, or prepayment fees. However, be mindful of potential changes in terms and interest rates, as they can affect the overall loan cost.
Can You Refinance Multiple Times?
Yes, you can refinance multiple times if it makes financial sense for you. Always compare current rates and terms with what you can qualify for to ensure refinancing aligns with your financial goals.
Can You Transfer Parent PLUS Loans?
Yes, some lenders allow Parent PLUS loans to be transferred to the child through refinancing. It’s essential to verify the lender offers this option and to understand the implications of transferring the loan responsibility and the loss of federal loan protections.
When Is the Best Time to Refinance?
The best time to refinance is when it aligns with your financial goals, such as securing a lower interest rate or consolidating loans for easier management. Stable employment is also a factor. Monitoring interest rates and your financial situation will guide this decision.