Best Student Loan Refinance Companies

Highly reviewed and rated, these student loan companies can help you make your educational dreams a reality. Quickly apply and get an instant decision. Compare offers from multiple private lenders to find the lowest student loan interest rate — but only after you'veexhausted all federal financial aid.
Private student loans are best used to pay college costs after you’ve borrowed the maximum you qualify for in both subsidized and unsubsidized federal student loans. Private student loans come from banks, credit unions and online lenders, and unlike federal student loans for undergraduates, they require a credit check.
That’s why there is no five-star lender on our list of private student loans: In the vast majority of cases, the best college financing option is a federal student loan. Check out our list of top lenders, along with how you can secure the lowest rates in 2025.

Compare the Best Student Loans

LENDER LEARN MORE FIXED APR VARIABLE APR MAX. LOAN AMOUNT MIN. CREDIT SCORE
Splash Financial
Splash Financial
See Offers Not disclosed 640
Laurel Road
Laurel Road
See Offers Not disclosed Not disclosed
Earnest
Earnest
4.7
See Offers 4.43% to 15.90% with autopay 5.39% to 16.20% with autopay No maximum 650
Credible
Credible
4.9
See Offers 3.22% to 14.75% wih autopay 1.79% to 13.85% with autopay Not disclosed 640
Citizens
Citizens
4.4
See Offers 4.43% to 12.86% with auto and loyalty discount* 5.98% to 14.05% with auto and loyalty discount* Up to $350,000 Not disclosed
SoFi
SoFi
4.6
See Offers 4.49% to 14.83% with autopay 5.49% to 14.03% with autopay Cost of attendance, minus aid 640
Education Loan Finance
Education Loan Finance
4.5
See Offers 4.48% to 12.29% 4.73% to 12.54% Not disclosed 680
PNC
PNC
4.4
See Offers As low as 4.59% with autopay* As low as 5.19% with autopay* $50,000 Not disclosed
Nelnet Bank
Nelnet Bank
4.3
See Offers 4.49% with autopay to 14.82% 6.04% with autopay to 15.55% Cost of attendance, minus aid Not disclosed
College Ave
College Ave
4.8
See Offers 4.44% to 15.99% with autopay 5.29% to 15.99% with autopay Cost of attendance, minus aid Mid 600s
Sparrow Student Loans
Sparrow Student Loans
4.8
See Offers 2.99% to 14.98% with autopay 0.99% to 12.99% with autopay Cost of attendance, minus aid No minimum
LendKey
LendKey
4.5
See Offers 4.89% to 10.39% with autopay 5.36% to 10.51% with autopay Cost of attendance, minus aid Not disclosed
MPower Financing
MPower Financing
3.6
See Offers As low as 14.75% with discounts 100000 Not required
NaviRefi
NaviRefi
See Offers Not disclosed Not disclosed
RISLA
RISLA
4.2
See Offers 4.45% to 8.99% 50000 Not disclosed
MEFA
MEFA
4.1
See Offers 5.35% to 7.95% Not disclosed Not disclosed
EDvestinU
EDvestinU
4
See Offers 6.250% – 9.935% 7.960% – 10.885% Not disclosed 750
Discover
Discover
4.2
See Offers 5.49% to 13.99% with autopay 4.29% to 14.09% with autopay Not disclosed Not disclosed
Lend-Grow
Lend-Grow
See Offers Not disclosed Not disclosed

Best Private Student Loans

Splash Financial
Splash Financial
Minimum FICO Credit Score
640
BBB Rating
A+
Laurel Road
Laurel Road
Minimum FICO Credit Score
Not disclosed
BBB Rating
A+
Earnest
Earnest
Minimum FICO Credit Score
650
BBB Rating
A+
Credible
Credible
Minimum FICO Credit Score
640
BBB Rating
A+
Citizens
Citizens
Minimum FICO Credit Score
Not disclosed
BBB Rating
A+
SoFi
SoFi
Minimum FICO Credit Score
640
BBB Rating
A+
Education Loan Finance
Education Loan Finance
Minimum FICO Credit Score
680
BBB Rating
A+
PNC
PNC
Minimum FICO Credit Score
Not disclosed
BBB Rating
A+
Nelnet Bank
Nelnet Bank
Minimum FICO Credit Score
Not disclosed
BBB Rating
A-
College Ave
College Ave
Minimum FICO Credit Score
Mid 600s
BBB Rating
A+
Sparrow Student Loans
Sparrow Student Loans
Minimum FICO Credit Score
No minimum
BBB Rating
N/A
LendKey
LendKey
Minimum FICO Credit Score
Not disclosed
BBB Rating
A+
MPower Financing
MPower Financing
Minimum FICO Credit Score
Not required
BBB Rating
A+
NaviRefi
NaviRefi
Minimum FICO Credit Score
Not disclosed
BBB Rating
A-
RISLA
RISLA
Minimum FICO Credit Score
Not disclosed
BBB Rating
N/A
MEFA
MEFA
Minimum FICO Credit Score
Not disclosed
BBB Rating
A+
EDvestinU
EDvestinU
Minimum FICO Credit Score
750
BBB Rating
N/A
Discover
Discover
Minimum FICO Credit Score
Not disclosed
BBB Rating
A+
Lend-Grow
Lend-Grow
Minimum FICO Credit Score
Not disclosed
BBB Rating
N/A

Student Loan Forgiveness Requirements

Student loan forgiveness refers to programs or policies that cancel or reduce the outstanding balance of student loans for eligible borrowers. The specific requirements for student loan forgiveness can vary depending on the type of forgiveness program. Below are some common student loan forgiveness programs and their general requirements:

1. Public Service Loan Forgiveness (PSLF)

Borrowers must work full-time for a qualifying public service organization or non-profit organization.

They must make 120 qualifying monthly payments while working for the qualifying employer.

The payments must be made under an eligible repayment plan (such as an income-driven repayment plan).

After meeting these requirements, the remaining loan balance is forgiven.

2. Teacher Loan Forgiveness

Teachers must work full-time for five consecutive years in a low-income school or educational service agency.

The type of loan and the subject taught will determine the amount of forgiveness.

3. Income-Driven Repayment Plan Forgiveness

Borrowers on income-driven repayment plans may qualify for forgiveness after making qualifying payments for 20 or 25 years, depending on the plan.

Any remaining loan balance after the specified period is forgiven.

4. Perkins Loan Cancellation

Individuals must work in specific public service fields or professions, such as teachers, nurses, or law enforcement officers.

Eligibility criteria and the amount forgiven may vary based on the profession and the length of service.

5. Closed School Discharge

Borrowers may be eligible for discharge of their federal student loans if the school closes while they are enrolled or within 120 days of withdrawal.

6. Total and Permanent Disability Discharge

Borrowers who are totally and permanently disabled may qualify for loan forgiveness through a discharge program.

Please note that these are general guidelines, and the specific eligibility criteria and requirements for each forgiveness program can change over time. It is crucial to verify the latest information from official sources and consult with the U.S. Department of Education or your loan servicer for the most up-to-date details on student loan forgiveness programs in 2023.

How To Choose Best Student Loan Refinance Companies?

1. Reputation

The reputation of the student loan refinance company is one of the most important factors to consider when choosing the best student loan refinance company. It is important to research the company’s history and customer reviews to ensure that the company is reputable and trustworthy. It is also important to make sure that the company is accredited by the Better Business Bureau (BBB). This will ensure that the company is reliable and has a good track record of providing quality services.

2. Interest Rates

The interest rate offered by the student loan refinance company is another important factor to consider when choosing the best student loan refinance company. It is important to compare the interest rates offered by different companies to ensure that you are getting the best deal. It is also important to make sure that the interest rate is fixed and not variable. This will ensure that your payments remain the same throughout the life of the loan.

3. Loan Terms

The loan terms offered by the student loan refinance company is another important factor to consider when choosing the best student loan refinance company. It is important to compare the loan terms offered by different companies to ensure that you are getting the best deal. It is also important to make sure that the loan terms are flexible and allow for early repayment without any penalties.

4. Fees and Charges

The fees and charges associated with the student loan refinance company is another important factor to consider when choosing the best student loan refinance company. It is important to compare the fees and charges associated with different companies to ensure that you are getting the best deal. It is also important to make sure that the fees and charges are reasonable and not excessive.

5. Customer Service

The customer service offered by the student loan refinance company is another important factor to consider when choosing the best student loan refinance company. It is important to research the customer service offered by different companies to ensure that you are getting the best deal. It is also important to make sure that the customer service is responsive and helpful.

6. Flexibility

The flexibility offered by the student loan refinance company is another important factor to consider when choosing the best student loan refinance company. It is important to compare the flexibility offered by different companies to ensure that you are getting the best deal. It is also important to make sure that the company is willing to work with you to customize the loan terms to meet your needs.

Private Student Loan Interest Rate Trend

Private student loan interest rates have been on the rise in recent years. According to the College Board, the average interest rate for private student loans has increased from 5.05% in the 2017-2018 academic year to 6.08% in the 2019-2020 academic year. This is an increase of 1.03 percentage points. The increase in private student loan interest rates is due to a variety of factors. One of the main factors is the Federal Reserve’s decision to raise interest rates. The Federal Reserve has raised interest rates several times since 2015, and this has had a direct impact on private student loan interest rates. In addition, the cost of borrowing for private student loans has increased due to the increasing cost of tuition and other college expenses. As tuition and other college expenses have increased, so have the costs associated with private student loans. This has caused private student loan interest rates to increase as well. Finally, the increasing cost of living has also had an impact on private student loan interest rates. As the cost of living has increased, so have the costs associated with private student loans. This has caused private student loan interest rates to increase as well. Overall, private student loan interest rates have been on the rise in recent years. This is due to a variety of factors, including the Federal Reserve’s decision to raise interest rates, the increasing cost of tuition and other college expenses, and the increasing cost of living. It is important for students to be aware of these factors when considering taking out a private student loan.

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