Top Student Loan Debt Consolidation Lenders

What’s the difference between consolidation and refinancing:

Consolidation is the act of combining multiple loans into one single loan. In this scenario, you bundle all your loans into one and make a single payment to one lender. It’s major benefit is that it simplifies your loan handling.

Refinancing, on the other hand, is the act of replacing one or more loans with a completely new loan (ideally with better terms). The goal here is to get better terms so that you can pay your loan off quicker and pay less interest.

All of the lenders listed below offer programs that may offer better terms.

Lender Fixed Rates Variable Rates Terms APR (Estimated)
Sofi Student Loans

3.90%-8.18%

Fixed Rates

2.80%-7.91%

Variable Rates

5,7,10,15,20

Repayment Terms

3.99%-13.99%

APR(Estimated)

What's to like

  • Cover up to 100% of your educational costs
  • Good interest rates and low fees
  • Entrepreneur Program for qualified applicants
  • Unemployment protection
  • Career Support
Lender SoFi
Loan Minimum $5000
Loan Maximum No Max
Eligible Loans Private & Federal
Fees None
Credit Check Type Soft
Lendkey Student Loans

3.49%-8.72%

Fixed Rates

2.47%-7.99%

Variable Rates

5,7,10,15,20

Repayment Terms

2.47%-8.72%

APR(Estimated)

What's to like

  • Cosigner release - after 12 timely payments
  • Low minimum income requirements
  • Higher approval rates
  • Auto Pay discount
  • Unemployment Protection
Lender LendKey
Loan Minimum $5000
Loan Maximum 125k Undergrad, 250k Graduate, 300k Medical Professional
Eligible Loans Private & Federal
Fees None
Credit Check Type Soft
Commonbond Student Loans

3.49%-8.72%

Fixed Rates

2.47%-7.99%

Variable Rates

5,7,10,15,20

Repayment Terms

2.47%-8.72%

APR(Estimated)

What's to like

  • Good social stewards
  • Available for Parent Plus Loans
  • Community Events and networking opportunities
  • Auto Pay discount
  • Unemployment Protection
Lender Commonbond
Loan Minimum $5000
Loan Maximum 500k
Eligible Loans Private & Federal
Fees None
Credit Check Type Soft
Education Loan Finance Student Loans

3.09%-6.69%

Fixed Rates

2.55%-6.01%

Variable Rates

5,7,10,15,20

Repayment Terms

2.55%-6.69%

APR(Estimated)

What's to like

  • Low Income Requirements
  • Available for Parent Plus Loans
  • Transferable loans from parent to child
  • Above average customer service
  • Unemployment Protection
  • Competitive rates
Lender Elfi
Loan Minimum $15,000
Loan Maximum None
Eligible Loans Private & Federal
Fees None
Credit Check Type Soft
Splash Financial Student Loans

3.25%-7.03%

Fixed Rates

2.70%-7.44%

Variable Rates

5,8,12,15

Repayment Terms

2.70%-7.44%

APR(Estimated)

What's to like

  • Co-signer release after 12 timely payments
  • Available for Parent Plus Loans
  • No origination fees or prepayment penalties
  • Preferred Medical Student Lender
  • Unemployment Protection
Lender Splash Financial
Loan Minimum $7500
Loan Maximum $350,000
Eligible Loans Private & Federal
Fees None
Credit Check Type Hard
Penfed Student Loans

3.25%-7.03%

Fixed Rates

2.69%-7.43%

Variable Rates

5,8,12,15

Repayment Terms

2.69%-7.43%

APR(Estimated)

What's to like

  • Compare rates for with and without co-signer
  • No degree required to refinance Parent Plus Loans
  • Personal Advisor
  • Above average customer service
  • Couples Loan Option
  • Low income requirements
Lender Penfed
Loan Minimum $7500
Loan Maximum $350,000
Eligible Loans Private & Federal
Fees None
Credit Check Type Tool for Rate Check

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StudentLoanClues.com makes no warranties or representations about your eligibility for any of the products from its partners above. The rates and terms are not guaranteed to be correct at any given time as they change often. The lenders above are solely responsible for the decision, rates, terms and other costs associated with the loan. While all the information listed on the site is free, StudentLoanClues.com is compensated for successful referrals.