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Updated: July 22, 2021

Best Student Loan Refinance Companies

Looking to refinance a student loan? It’s important to shop around for the best interest rate, fees, terms and conditions to suit your needs. Here are a few of our top picks for refinancing and consolidation.

Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Advertising Disclosure
2.74% - 6.74%
2.25% - 6.39%
5 years to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.74% - 6.74%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.25% - 6.39%
Terms
5 years to 20 years
Fees
No fees
Offers
Current customer discount (0.125%), Autopay discount (0.25%), and Customizable payment due date
Refinance Student Loan Rating
Advertising Disclosure
×

Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. Our lending partners require the borrower to be a U.S. citizen in an eligible state to qualify. Some lenders allow the borrower to be a permanent resident in an eligible state to qualify. Some lenders may require a co-signer. The borrower is required to meet applicable underwriting requirements based on specific lender criteria. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance.

The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. Not all information is required by all lending partners were you to submit an application directly on their website. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice.

2.49% - 6.25%
1.88% - 6.15%
5 yr, 7 yr, 8 yr, 10 yr, 12 yr, 15 yr, 20 yr, 25 yr
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.49% - 6.25%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.88% - 6.15%
Terms
5 yr, 7 yr, 8 yr, 10 yr, 12 yr, 15 yr, 20 yr, 25 yr
Fees
Late fees
Offers
Autopay discount (0.25%) and cosigner release
Refinance Student Loan Rating
Advertising Disclosure
2.50% - 5.79%
1.88% - 5.64%
5 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.50% - 5.79%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.88% - 5.64%
Terms
5 years, 10 years, 15 years, 20 years
Fees
No fees
Offers
Autopay discount (0.25%), Customizable payment due date, and option to skip 1 payment every 12 months
Refinance Student Loan Rating
Advertising Disclosure
2.55% - 6.31%
1.95% - 5.69%
5 years, 7 years, 10 years, 15 years, 20 years, 25 years*
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.55% - 6.31%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.95% - 5.69%
Terms
5 years, 7 years, 10 years, 15 years, 20 years, 25 years*
Fees
Late fees
Offers
Autopay discount included in rate above (0.25%), 25-year term only available with variable rate
Refinance Student Loan Rating
Advertising Disclosure
2.95% - 7.63%
1.90% - 5.25%
5 years, 7 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.95% - 7.63%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.90% - 5.25%
Terms
5 years, 7 years, 10 years, 15 years, 20 years
Fees
Late fees
Offers
Autopay discount (0.25%), One-time payment due date change, and Cosigner release
Refinance Student Loan Rating

You can also view the best refinancing and consolidation lenders by category:

  • Best Rewards
  • Best for Borrowers without a Cosigner
  • Best Cosigner Release Option
  • Best Flexibility for Repayment
  • Best Deferment Options
  • Best Customer Service
  • Best Bank Lender
  • Top Rated

Be careful refinancing federal student loans into private student loans, since you will lose some of your federal benefits such as student loan forgiveness and repayment options. Another option for federal student loans is a direct consolidation loan, which combines multiple loans into one loan. However, federal consolidation will not lower your interest rate.

Some private student loan lenders offer perks such as rewards for autopay discounts. You may want to consider these incentives when evaluating your options for refinancing student loans.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
×

  1. Terms and conditions apply. Loan products, terms, and benefits displayed on this website may be modified or discontinued at any time without notice. Your rate will be determined after a review of your application and credit profile. You must be either a U.S. citizen or Permanent Resident in an eligible state, must have graduated from an eligible school, and meet Navy Federal Credit Union's credit and income requirements to qualify for a loan. Additionally, in order to receive a loan from Navy Federal Credit Union, you must be a member of Navy Federal Credit Union. If you are not a member of Navy Federal Credit Union, you must apply and become a member during the loan application process. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate.
  2. If you choose and receive a variable rate loan, your rate may change once a quarter. The variable rate is based on the average of a publicly available index, the 3-month LIBOR, as published in the Wall Street Journal on the first of each month for the last three months immediately preceding the quarterly adjustment date. If the first day of the month is not a business day, the preceding business day will be used. Your rate will be calculated each quarter by adding the 3-month LIBOR to a margin that is assigned to your loan upon loan approval. All loans are subject to an interest rate floor based on term: 5 year: 1.43%, 10 year: 2.99%, 15 year: 3.24% and an interest rate cap of 18.00%.
  3. If you enroll in automatic monthly payments from a personal checking or savings account to pay principal and interest amounts that are due, the rate will be reduced by 0.25%, subject to the floor rate. This rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments.
  4. The minimum monthly payment is $50.00 or the unpaid balance of your loan, whichever is less.

2.99% - 12.03%
1.61% - 10.21%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.99% - 12.03%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.61% - 10.21%
Terms
5 years, 10 years, 15 years
Fees
Unclear late fee policy
Offers
Autopay discount (0.25%) and Cosigner release
Refinance Student Loan Rating
Advertising Disclosure
2.69% - 9.15%
2.24% - 8.90%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.69% - 9.15%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.24% - 8.90%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Current customer discount (0.25%), Autopay discount (0.25%), and Cosigner release
Refinance Student Loan Rating
Advertising Disclosure
2.74% - 6.74%
2.25% - 6.39%
5 years to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.74% - 6.74%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.25% - 6.39%
Terms
5 years to 20 years
Fees
No fees
Offers
Current customer discount (0.125%), Autopay discount (0.25%), and Customizable payment due date
Refinance Student Loan Rating

When shopping for the best student loan refinance and consolidation lenders, you may find that some eligibility requirements include having a cosigner. A cosigner is typically another adult who shares equal responsibility for your private education loans. Even if you don't have bad credit, you may still need a cosigner if you don't have a steady income or decent credit score.
If you prefer to take out a private loan without a cosigner, or you simply don't have one, consider one of these options for borrowers without a cosigner.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
×

  1. Terms and conditions apply. Loan products, terms, and benefits displayed on this website may be modified or discontinued at any time without notice. Your rate will be determined after a review of your application and credit profile. You must be either a U.S. citizen or Permanent Resident in an eligible state, must have graduated from an eligible school, and meet Navy Federal Credit Union's credit and income requirements to qualify for a loan. Additionally, in order to receive a loan from Navy Federal Credit Union, you must be a member of Navy Federal Credit Union. If you are not a member of Navy Federal Credit Union, you must apply and become a member during the loan application process. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate.
  2. If you choose and receive a variable rate loan, your rate may change once a quarter. The variable rate is based on the average of a publicly available index, the 3-month LIBOR, as published in the Wall Street Journal on the first of each month for the last three months immediately preceding the quarterly adjustment date. If the first day of the month is not a business day, the preceding business day will be used. Your rate will be calculated each quarter by adding the 3-month LIBOR to a margin that is assigned to your loan upon loan approval. All loans are subject to an interest rate floor based on term: 5 year: 1.43%, 10 year: 2.99%, 15 year: 3.24% and an interest rate cap of 18.00%.
  3. If you enroll in automatic monthly payments from a personal checking or savings account to pay principal and interest amounts that are due, the rate will be reduced by 0.25%, subject to the floor rate. This rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments.
  4. The minimum monthly payment is $50.00 or the unpaid balance of your loan, whichever is less.

2.99% - 12.03%
1.61% - 10.21%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.99% - 12.03%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.61% - 10.21%
Terms
5 years, 10 years, 15 years
Fees
Unclear late fee policy
Offers
Autopay discount (0.25%) and Cosigner release
Refinance Student Loan Rating
Advertising Disclosure
2.69% - 9.15%
2.24% - 8.90%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.69% - 9.15%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.24% - 8.90%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Current customer discount (0.25%), Autopay discount (0.25%), and Cosigner release
Refinance Student Loan Rating
Advertising Disclosure
2.74% - 6.74%
2.25% - 6.39%
5 years to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.74% - 6.74%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.25% - 6.39%
Terms
5 years to 20 years
Fees
No fees
Offers
Current customer discount (0.125%), Autopay discount (0.25%), and Customizable payment due date
Refinance Student Loan Rating

If your parents are willing to help you pay for college, they may have considered a federal Parent PLUS loan. However, depending on their credit score, your parent may be able to qualify for a lower interest rate by cosigning a loan with you.
Some lenders offer a cosigner release option, which is ideal for parents who are willing to help you get a loan but may not want a long-term commitment. Here is a list of the student loan providers with the best cosigner release options.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
2.74% - 6.74%
2.25% - 6.39%
5 years to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.74% - 6.74%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.25% - 6.39%
Terms
5 years to 20 years
Fees
No fees
Offers
Current customer discount (0.125%), Autopay discount (0.25%), and Customizable payment due date
Refinance Student Loan Rating
Advertising Disclosure
2.50% - 5.79%
1.88% - 5.64%
5 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.50% - 5.79%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.88% - 5.64%
Terms
5 years, 10 years, 15 years, 20 years
Fees
No fees
Offers
Autopay discount (0.25%), Customizable payment due date, and option to skip 1 payment every 12 months
Refinance Student Loan Rating
Advertising Disclosure
×

Disclosures:

  1. For information on the Federal Direct Consolidation program, visit https://studentaid.ed.gov/sa/repay-loans/consolidation. By refinancing your federal student loans through a private refinance loan program, you will forgo certain benefits and options currently available to you such as federal Income-Driven Repayment plans, deferment, forbearance, and loan forgiveness options.
  2. If you choose a fixed rate option the rate will not increase or decrease for the life of the loan.
  3. If you choose a variable rate option your rate will vary with the market based on the one-month London Interbank Offered Rate (LIBOR) as published by Reuters on its Reuters Screen LIBOR01.
  4. 10-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 7.37% will make 120 monthly payments of $354.14 for an estimated total in payments of $42,496.80. 20-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 8.00% will make 240 monthly payments of $250.92 for an estimated total in payments of $60,220.80.
  5. 10-year variable rate example: a borrower with a $30,000 loan and a variable APR of 5.50% will make 120 monthly payments of $325.55 for an estimated total in payments of $39,066.00. 20-year variable rate example: a borrower with a $30,000 loan and a variable APR of 6.123% will make 240 monthly payments of $217.07 for an estimated total in payments of $52,096.80.
  6. Borrower must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month, and may therefore be suspended during a hardship forbearance period.

Information advertised valid as of 12/14/2020.

COMMERCE BANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

4.12% - 8.00%
2.12% - 6.12%
10 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
4.12% - 8.00%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.12% - 6.12%
Terms
10 years, 20 years
Fees
Unclear policy on late fees
Offers
Autopay discount (0.25%)
Refinance Student Loan Rating

Your repayment term will vary depending on the loan and lender you choose. Flexibility is critical for all borrowers, since anyone can be faced with an unexpected setback such as a job loss or medical emergency.
The following lenders offer borrowers the most flexibility when it comes to a repayment plan, repayment terms, your monthly payment, your loan term, grace periods, forbearances and discharge options.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
2.25% - 5.75%
1.64% - 5.65%
5 years, 7 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.25% - 5.75%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.64% - 5.65%
Terms
5 years, 7 years, 10 years, 15 years, 20 years
Fees
Late fees
Offers
Autopay discount (0.25%), Referral discount ($400), and Customizable payment due date
Refinance Student Loan Rating
Advertising Disclosure
2.95% - 7.63%
1.90% - 5.25%
5 years, 7 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.95% - 7.63%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.90% - 5.25%
Terms
5 years, 7 years, 10 years, 15 years, 20 years
Fees
Late fees
Offers
Autopay discount (0.25%), One-time payment due date change, and Cosigner release
Refinance Student Loan Rating
Advertising Disclosure
2.50% - 5.79%
1.88% - 5.64%
5 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.50% - 5.79%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.88% - 5.64%
Terms
5 years, 10 years, 15 years, 20 years
Fees
No fees
Offers
Autopay discount (0.25%), Customizable payment due date, and option to skip 1 payment every 12 months
Refinance Student Loan Rating

Deferment allows you to temporarily pause or reduce your student loan payments.
Overall, a federal student loan, such as a direct PLUS loan, offers more deferment options than a private loan. But, there are some private lenders that allow borrowers to pause their loan payment in certain situations. The following private lenders offer the best deferment options for borrowers looking to refinance student loans.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
3.49% - 6.99%
1.87% - 5.87%
10 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.49% - 6.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.87% - 5.87%
Terms
10 years, 20 years
Fees
No fees
Offers
Autopay discount (0.25%) and Lending to both Graduates and Non-graduates
Refinance Student Loan Rating
Advertising Disclosure
2.50% - 5.79%
1.88% - 5.64%
5 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.50% - 5.79%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.88% - 5.64%
Terms
5 years, 10 years, 15 years, 20 years
Fees
No fees
Offers
Autopay discount (0.25%), Customizable payment due date, and option to skip 1 payment every 12 months
Refinance Student Loan Rating
Advertising Disclosure
2.55% - 6.31%
1.95% - 5.69%
5 years, 7 years, 10 years, 15 years, 20 years, 25 years*
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.55% - 6.31%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.95% - 5.69%
Terms
5 years, 7 years, 10 years, 15 years, 20 years, 25 years*
Fees
Late fees
Offers
Autopay discount included in rate above (0.25%), 25-year term only available with variable rate
Refinance Student Loan Rating

When shopping for a private education loan, don’t forget about customer service. Many borrowers have had issues with student loan companies, but fortunately complaints are often documented.
The list below includes the private student loan lenders with the best customer service, based on self-service options, call center characteristics, popularity and complaint rates.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
3.74% - 8.97%
3.13% - 8.11%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.74% - 8.97%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.13% - 8.11%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%) and Cosigner release
Refinance Student Loan Rating
Advertising Disclosure
×

  1. Terms and conditions apply. Loan products, terms, and benefits displayed on this website may be modified or discontinued at any time without notice. Your rate will be determined after a review of your application and credit profile. You must be either a U.S. citizen or Permanent Resident in an eligible state, must have graduated from an eligible school, and meet Navy Federal Credit Union's credit and income requirements to qualify for a loan. Additionally, in order to receive a loan from Navy Federal Credit Union, you must be a member of Navy Federal Credit Union. If you are not a member of Navy Federal Credit Union, you must apply and become a member during the loan application process. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate.
  2. If you choose and receive a variable rate loan, your rate may change once a quarter. The variable rate is based on the average of a publicly available index, the 3-month LIBOR, as published in the Wall Street Journal on the first of each month for the last three months immediately preceding the quarterly adjustment date. If the first day of the month is not a business day, the preceding business day will be used. Your rate will be calculated each quarter by adding the 3-month LIBOR to a margin that is assigned to your loan upon loan approval. All loans are subject to an interest rate floor based on term: 5 year: 1.43%, 10 year: 2.99%, 15 year: 3.24% and an interest rate cap of 18.00%.
  3. If you enroll in automatic monthly payments from a personal checking or savings account to pay principal and interest amounts that are due, the rate will be reduced by 0.25%, subject to the floor rate. This rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments.
  4. The minimum monthly payment is $50.00 or the unpaid balance of your loan, whichever is less.

2.99% - 12.03%
1.61% - 10.21%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.99% - 12.03%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.61% - 10.21%
Terms
5 years, 10 years, 15 years
Fees
Unclear late fee policy
Offers
Autopay discount (0.25%) and Cosigner release
Refinance Student Loan Rating
3.49% - 6.99%
1.87% - 5.87%
10 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.49% - 6.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.87% - 5.87%
Terms
10 years, 20 years
Fees
No fees
Offers
Autopay discount (0.25%) and Lending to both Graduates and Non-graduates
Refinance Student Loan Rating

You can refinance a student loan with a bank, credit union or online lender. In some cases, you may be able to qualify for a lower student loan refinance rate if you refinance with a bank you already use.
Here is a list of the best bank lenders for refinancing and consolidation, based on costs, eligibility criteria, flexibility and customer service.

Lender
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Repayment Terms
Our Rating
Advertising Disclosure
2.69% - 9.15%
2.24% - 8.90%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.69% - 9.15%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.24% - 8.90%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Current customer discount (0.25%), Autopay discount (0.25%), and Cosigner release
Refinance Student Loan Rating
Advertising Disclosure
2.25% - 5.75%
1.64% - 5.65%
5 years, 7 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.25% - 5.75%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.64% - 5.65%
Terms
5 years, 7 years, 10 years, 15 years, 20 years
Fees
Late fees
Offers
Autopay discount (0.25%), Referral discount ($400), and Customizable payment due date
Refinance Student Loan Rating
3.44% - 6.24%
2.22% - 5.02%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.44% - 6.24%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.22% - 5.02%
Terms
5 years, 10 years, 15 years
Fees
Late fees, unclear policy on Application fees
Offers
Autopay discount (0.50%) and Cosigner release
Refinance Student Loan Rating

Savingforcollege.com has developed a methodology for ranking private student loans based on a set of objective criteria. Here are the top 10 best student loan refinance and consolidation companies:

Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Variable APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
Advertising Disclosure
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  1. Terms and conditions apply. Loan products, terms, and benefits displayed on this website may be modified or discontinued at any time without notice. Your rate will be determined after a review of your application and credit profile. You must be either a U.S. citizen or Permanent Resident in an eligible state, must have graduated from an eligible school, and meet Navy Federal Credit Union's credit and income requirements to qualify for a loan. Additionally, in order to receive a loan from Navy Federal Credit Union, you must be a member of Navy Federal Credit Union. If you are not a member of Navy Federal Credit Union, you must apply and become a member during the loan application process. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate.
  2. If you choose and receive a variable rate loan, your rate may change once a quarter. The variable rate is based on the average of a publicly available index, the 3-month LIBOR, as published in the Wall Street Journal on the first of each month for the last three months immediately preceding the quarterly adjustment date. If the first day of the month is not a business day, the preceding business day will be used. Your rate will be calculated each quarter by adding the 3-month LIBOR to a margin that is assigned to your loan upon loan approval. All loans are subject to an interest rate floor based on term: 5 year: 1.43%, 10 year: 2.99%, 15 year: 3.24% and an interest rate cap of 18.00%.
  3. If you enroll in automatic monthly payments from a personal checking or savings account to pay principal and interest amounts that are due, the rate will be reduced by 0.25%, subject to the floor rate. This rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments.
  4. The minimum monthly payment is $50.00 or the unpaid balance of your loan, whichever is less.

2.99% - 12.03%
1.61% - 10.21%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.99% - 12.03%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.61% - 10.21%
Terms
5 years, 10 years, 15 years
Fees
Unclear late fee policy
Offers
Autopay discount (0.25%) and Cosigner release
Refinance Student Loan Rating
Advertising Disclosure
2.69% - 9.15%
2.24% - 8.90%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.69% - 9.15%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.24% - 8.90%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Current customer discount (0.25%), Autopay discount (0.25%), and Cosigner release
Refinance Student Loan Rating
Advertising Disclosure
2.74% - 6.74%
2.25% - 6.39%
5 years to 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.74% - 6.74%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.25% - 6.39%
Terms
5 years to 20 years
Fees
No fees
Offers
Current customer discount (0.125%), Autopay discount (0.25%), and Customizable payment due date
Refinance Student Loan Rating
Advertising Disclosure
2.25% - 5.75%
1.64% - 5.65%
5 years, 7 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.25% - 5.75%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.64% - 5.65%
Terms
5 years, 7 years, 10 years, 15 years, 20 years
Fees
Late fees
Offers
Autopay discount (0.25%), Referral discount ($400), and Customizable payment due date
Refinance Student Loan Rating
3.49% - 6.99%
1.87% - 5.87%
10 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.49% - 6.99%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.87% - 5.87%
Terms
10 years, 20 years
Fees
No fees
Offers
Autopay discount (0.25%) and Lending to both Graduates and Non-graduates
Refinance Student Loan Rating
Advertising Disclosure
×

Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. Our lending partners require the borrower to be a U.S. citizen in an eligible state to qualify. Some lenders allow the borrower to be a permanent resident in an eligible state to qualify. Some lenders may require a co-signer. The borrower is required to meet applicable underwriting requirements based on specific lender criteria. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance.

The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. Not all information is required by all lending partners were you to submit an application directly on their website. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice.

2.49% - 6.25%
1.88% - 6.15%
5 yr, 7 yr, 8 yr, 10 yr, 12 yr, 15 yr, 20 yr, 25 yr
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.49% - 6.25%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.88% - 6.15%
Terms
5 yr, 7 yr, 8 yr, 10 yr, 12 yr, 15 yr, 20 yr, 25 yr
Fees
Late fees
Offers
Autopay discount (0.25%) and cosigner release
Refinance Student Loan Rating
3.74% - 8.97%
3.13% - 8.11%
5 years, 10 years, 15 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.74% - 8.97%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
3.13% - 8.11%
Terms
5 years, 10 years, 15 years
Fees
Late fees
Offers
Autopay discount (0.25%) and Cosigner release
Refinance Student Loan Rating
Advertising Disclosure
2.50% - 5.79%
1.88% - 5.64%
5 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.50% - 5.79%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.88% - 5.64%
Terms
5 years, 10 years, 15 years, 20 years
Fees
No fees
Offers
Autopay discount (0.25%), Customizable payment due date, and option to skip 1 payment every 12 months
Refinance Student Loan Rating
Advertising Disclosure
2.55% - 6.31%
1.95% - 5.69%
5 years, 7 years, 10 years, 15 years, 20 years, 25 years*
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.55% - 6.31%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.95% - 5.69%
Terms
5 years, 7 years, 10 years, 15 years, 20 years, 25 years*
Fees
Late fees
Offers
Autopay discount included in rate above (0.25%), 25-year term only available with variable rate
Refinance Student Loan Rating
Advertising Disclosure
2.95% - 7.63%
1.90% - 5.25%
5 years, 7 years, 10 years, 15 years, 20 years
Fixed APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
2.95% - 7.63%
Var. APR i x While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.
1.90% - 5.25%
Terms
5 years, 7 years, 10 years, 15 years, 20 years
Fees
Late fees
Offers
Autopay discount (0.25%), One-time payment due date change, and Cosigner release
Refinance Student Loan Rating
What does it mean to refinance a student loan?

Refinancing a student loan means you replace your existing federal or private loans with a new private loan. This new loan will have a new interest rate, loan term, lender and monthly payment, and will no longer offer any federal loan benefits

Can I refinance federal student loans?

Yes, you can refinance federal student loans into a private loan, but you will then lose all of the perks of federal loans. This includes (depending on your loans) possibly being able to enroll in a payment plan based on your income and family size, an option to postpone payments (with an economic hardship deferment or unemployment deferment) and the potential to have your loans forgiven with Public Service Loan Forgiveness or other loan forgiveness options.

What are the requirements for student loan refinancing?

The requirements for approval for student loan refinancing vary between each lender. Generally, a lender would like to see a debt-to-income ratio under 50%, a credit score of 650 or more, a steady job and consistent income, a minimum amount to refinance, loans not currently in default, and that you have completed your degree program.

What is the difference between a fixed and variable interest rate?

A fixed interest rate means that your interest rate will stay the same for the entire life of the loan until you pay it back. A variable interest rate means your interest rate can change and increase, as often as monthly.

What are the benefits of refinancing loans?

If you are able to reduce your interest rate, refinancing could potentially save money on what you will overall pay for you loans – assuming you don’t extend your payment term to try to reduce your monthly payment. Use our student loan refinance calculator to compare your current loan with a new loan to evaluate. Refinancing a private loan also means you can release a cosigner from the obligation to repay your existing loan. Some private student loan lenders offer a cosigner release, but for those that don’t, refinancing the loan without a cosigner means the cosigner is no longer tied to the loan.

What are the cons of refinancing loans?

Refinancing federal loans means losing out on federal benefitsincome-driven repayment plans, deferments if you’re unemployed or facing an economic hardship, subsidized loans, and the potential for loan forgiveness. If you refinance right out of college, you’ll lose your grace period. As with any new loan application, your credit score may drop by a few points.

What is the difference between federal loan consolidation and refinancing?

Refinancing is through a private lender with a new loan term and a new interest rate. Federal loan consolidation combines all of your loans together, and the interest rate is based on the current rates on your federal loans, not a new interest rate. Unlike refinancing, federal loan consolidation allows you to keep the federal benefits, such as income-driven repayment plans and the potential for loan forgiveness. However, keep in mind that if you consolidate your federal loans, it does reset the clock on any forgiveness for income-driven repayment plans or Public Service Loan Forgiveness.

Will I save money if I refinance?

There are many factors that determine whether you will save money. This includes if your new interest rate is lower than your old interest rate. If you are extending your payment term, it could mean a lower monthly payment but paying more on your loan overall. Use our student loan refinance calculator to estimate.

Can I use a cosigner to refinance?

Most lenders will allow you to refinance your loan with a cosigner. Having a responsible cosigner with good credit can increase your chances of approval as well as securing a lower interest rate. However, there are many risks and things the cosigner should consider. A cosigner is equally responsible for repaying the debt. That loan will impact the cosigner’s debt-to-income ratio and appear on their credit report, potentially making it more difficult for them to get approved for other loans.

How can I get a better interest rate?

Before you apply, check your credit report to address any errors. If possible, pay down any other high-interest debt, such as a credit card. Easier said than done, but increasing your income can also help. A cosigner with excellent credit can help you secure a better interest rate, but there are many risks involved for them.

Important Disclaimers

Savingforcollege.com provides our readers with free access to objective information, articles and tools to help them make informed decisions about saving and paying for education. We are able to do this because we are compensated by our partners, including some private student lenders. Some, though not all, of the products featured here are offered by partners who may pay us a sales commission. Our partnerships do not influence our ratings or reviews, which are based on in-depth research and objective methodologies, though they may influence which products we write about and where those products appear on our site. Our opinions are our own.

While Savingforcollege.com strives to keep our information up to date, the lender rates, terms and other information are subject to change at any time.

Exhaust all other resources, such as scholarships and grants, before borrowing student loans. If you need to borrow loans, federal student loans offer many benefits that private student loans do not. Read the fine print and disclaimer from any potential lender and understand how student loans work before borrowing.

Savingforcollege.com is an independent publisher. We do not provide legal, financial, accounting or tax advice. The information and tools published on this website are general in nature and may not apply to your specific circumstances. You should seek specific guidance from a qualified legal, financial, accounting or tax professional.

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