Best Student Loan Refinance Companies
Our picks offer low rates, repayment assistance, and unique benefits that can reduce your monthly payment and overall loan cost.
Best Overall (Editor's Choice)
- Multiple lenders catering to large loan amounts
- Compare prequalified rates in 2 minutes
- Rates from 3.85% to 12.66% APR
- No fees or impact on your credit score
- Federal, private, and Parent PLUS loans are eligible
- Excellent (Trustpilot Rating)
- Multiple lenders catering to large loan amounts
- Compare prequalified rates in 2 minutes
- Rates from 3.85% to 12.66% APR
- No fees or impact on your credit score
- 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)
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
Reviews of the best student loan refinancing companies
1) Credible (Best Overall)
Access multiple lenders specializing in large loan amounts
- Rates from 3.85% to 12.66% APR
- No fees or impact on your credit score
- Federal, private, and Parent PLUS loans are eligible
Credible Customer Reviews
Credible has excellent ratings from its clients across multiple review platforms. The Better Business Bureau (BBB) has assigned the company an A+ rating for its client interaction.
| LendEDU | 5 out of 5 |
| Trustpilot | 4.8 out of 5 (8,305 reviews) |
2) SoFi (Best Online Lender)
475,000+ members have refinanced over $41 billion in student loans
- 4.19% to 14.83% APR w/ autopay
- See rates in 2 minutes, no credit impact
- No origination or late payment fees
- Select your term length and rate type
SoFi Customer Reviews
SoFi has excellent ratings from its clients across multiple review platforms. The Better Business Bureau (BBB) has assigned the company an A+ rating for its client interaction.
| LendEDU | 4.9 out of 5 |
| Trustpilot | 4.3 out of 5 (9,427 reviews) |
3) Citizens Bank (Great Flexible Repayment Options)
Check your rate in about 2 minutes with no impact to your credit score
- 5.24% to 12.43% APR
- No application fee
- One monthly payment, flexible payment options
- Interest rate discounts
Citizens Customer Reviews
Citizens Bank has fewer customer reviews, but it is accredited by the Better Business Bureau (BBB), reflecting its commitment to addressing customer complaints.
| LendEDU | 4.1 out of 5 |
| Trustpilot | 1.2 out of 5 (656 reviews) |
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.