Top Student Loan Refinance Lenders

Student Loan Clues provides you with detailed information from the top student loan lenders in the industry to help you make smart financial decisions. Student loan refinancing can save you money by replacing your current debt with a new lower rate private lender. Our mission is simple, we want to help you keep more of your money in your pocket.

Most of the lenders below will let you see an estimated rate so that you can compare with other lenders. The lenders will likely look at your income/employment information, degree types and credit score as they weigh their decision.

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

Choosing the Right Lender

Choosing the right lender is not a straight forward proposition. The right lender varies with your individual needs. That said there are some basic things that everyone should look at while choosing a lender.

  • Interest Rate
  • fees
  • repayment terms/options
  • discounts
  • customer service

If you use these key points as your starting point, you will be well on your way to securing a loan option that works for your situation..

Interest Rates

Most borrowers recognize the importance of interest rates. Interest is how your lender makes money and offsets risk. As rates go higher, so do your payments. Most banks offer variable rate loans that float based on market conditions. These loans will typically have lower interest rates, but you have more upside risk. Fixed rate loans offer more stability as you know that your rate will not change outside of your control, but you will typically pay a higher interest rate for this stability.

Fees & Penalties

Fees are typically one-time charges that are tied to specific services. For example, you may be charged an application fee or origination fee. Penalties come in different forms as well. A common penalty with loans are pre-payment penalties. In this scenario, you have to pay a pre-negotiated amount for paying off your loan early. In today’s competitive environment, you rarely see this penalty from private student loan lenders. Almost all lenders will have penalties if you miss a payment, so you should know the lenders procedures and penalties in this case.

Repayment Terms

The majority of private student loan lenders offer flexible repayment terms. It’s important to make sure the lender you work with offers the flexibility you need for your situation. It’s also a good idea to look at the terms regardless of your current situation as your needs may change in the future.

You may be looking for interest only payments while in school, or you may need a longer grace period than the typical six months before you start repaying your loan.

Many of the lenders will also offer the ability to release your cosigner from the loan after a period of timely payments. This is beneficial for those borrowers who need a cosigner as many potential candidates may be leery of a long term loan commitment.

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

Discounts

Lenders often offer discounts that can help reduce your principal or reduce your interest rate and more. Many of the lenders here will offer a discount for autopay in the way of reduced interest. It may seem small, but it can make a big difference over the life of the loan.

Advertiser Disclosure:

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.