5 Best Student Loan Refinance Lenders and Expert Insights

Student loan refinancing is a great way to lower interest rates and speed up debt elimination. However, refinancing isn't the best choice for all borrowers.

Written By: Michael P. Lux, Esq.

Last Updated: September 29, 2017

Affiliate Disclosure and Integrity Pledge

Who Should Refinance?

Borrowers with federal student loans should only refinance in very limited circumstances. Given the current interest rates offered by lenders, federal refianancing usually doesn't make sense.
Borrowers with private loans should refinance if they can get a lower interest rate or better loan terms.

Refinance Requirements

Applicants usually need a credit score in the mid-600s to 700 range.
Lenders don't publish Debt-to-Income Ratio requirements, but they look at DTI very closely.
Having a cosigner can enhance your chances of approval, but cosigning is often a risky decision.

Getting the Best Rate

The lowest advertised rates are usually for 5-year variable-rate loans.
Borrowers looking for a longer loan should start with the lenders advertising the lowest rates for 20-year loans.
Shopping around is the only way to verify that you have gotten the best rate possible.

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Note: The lowest listed rate for each lender is listed as an APR and includes a .25% autopay discount where available. The industry standard among nearly all lenders is to offer this discount.

Click here for the full list of national lenders and reviews.
Methodology: Learn how these rankings are generated.

The Latest News and Updates on Student Loan Refinancing:

First Republic Reviews student loan refinance

First Republic Student Loan Refinance Review

First Republic has ended its student loan refinance option.

magnifying glass takes a close look at some of the many options

Credible Student Loan Refinancing Review

Credible is great in some aspects but limited in others. Borrowers that understand how Credible works can get the most out of their marketplace.

MEFA Student Loan Refinancing Review

MEFA is a smaller refinance lender with limited options for borrowers. However, for certain loan types, MEFA is an excellent choice. MEFA earns a 3.5/5 rating.

Student Loan Repayment and Refinance Strategy for Social Workers

The graduate education required to become a social worker may mean a lot of student loan debt, but there are excellent debt elimination opportunities.

Deciding Between SoFi, Laurel Road, LendKey, Earnest, Citizens, and Splash

Picking the best lender often comes down to identifying the company offering the best interest rates on a refinance loan.

SoFi vs. Citizens Bank Student Loan Refinance Comparison

SoFi and Citizens bank are two major student loan refinance lenders but there are some major differences borrowers should understand.

SoFi vs College Ave Student Loan Refinancing Comparison

SoFi and College Ave have similar interest rates, but SoFi gets the edge for most borrowers.

Why is my old student loan and my refinanced loan on my credit report?

Seeing double student debt on your credit report is scary. Fortunately, this issue often quickly resolves itself.

Five Student Loan Refinancing Mistakes to Avoid

Refinancing or your student loans can save thousands of dollars with a little bit of effort, but mistakes are very costly and hard to fix.