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Best Student Loan Refinance Companies

Compare top lenders and learn about today’s best refinancing options. We work with some of the nation’s most reputable banks and credit unions to bring you competitive benefits, rates and terms. Find the loan refinance solution that works best for you!

Student Loan Refinance Rates and Benefits

Earnest Student Loan Refinancing

  • Variable rates starting at 1.99% APR (including 0.25% Auto Pay discount)*
  • Fixed rates starting at 2.98% APR (including 0.25% Auto Pay discount)*
  • Choose your own monthly payment
  • No fees of any kind and exceptional customer service for the life of your loan
  • Check your rate in under 2 minutes
  • Show more info »

Earnest Student Loan Refinancing

New-fashioned loans for the next generation.

Earnest is a technology company using cutting-edge data science, smarter design, and software automation to rebuild financial services.

With a mission to empower people with the financial capital they need to live better lives, Earnest's lending products are built for a new generation seeking to reach life's milestones. The company uses data and technology to understand every applicant's unique financial story and offer the lowest possible rates.

Earnest Student Loan Refinancing Full Terms and Conditions

Iowa Student Loans

  • Fixed-rate loans starting at 3.25% APR (with auto-debit)1
  • No obligation rate quote in less than a minute with no impact to credit score
  • No origination, prepayment or late fees
  • Standard and graduated repayment plans (subject to approval)
  • Show more info »

Reset Refinance Loan from Iowa Student Loan

The Reset Refinance Loan was designed by student loan experts with decades of experience to help borrowers (both students and parents) looking to simplify repayment of and obtain a lower fixed interest rate on their student loans.

The Reset Refinance Loan, which is offered nationwide by Iowa Student Loan, a Midwest nonprofit organization, only features fixed rates at this time because it is our belief that most borrowers should be extremely cautious of variable-rate loans in the current financial environment where rates are on the rise.

Looking to lower your overall student loan costs or make repayment more manageable? The Reset Loan offers competitive fixed rates with multiple repayment options.


The Reset Loan is:

  • A fixed-rate loan with rates starting at 3.25% APR (with auto-debit)1
  • Transparent. Full eligibility and underwriting criteria is provided upfront before you apply.
  • Borrower friendly. Repayment benefits and policies were created to benefit borrowers and their families.
  • Comprehensive. You have the ability to refinance private and federal education loans into one new loan.

Iowa Student Loan Terms and Information

You Put in the Work. Now Reap the Rewards.

  • Rates as low as 2.00% Variable, 2.99% Fixed1
  • Flexible repayment terms including 5, 10, 15, 20 and 25 year loans.
  • No application or prepayment fees
  • Cosigner release with 24 on-time payments2
  • Show more info »

Completing your education was one smart decision – here’s your chance to make another. Save your hard-earned cash with Student Loan Refinancing from Nelnet Bank.

Why Nelnet Bank?

40+ Years of Experience

Backed by the nation’s largest student loan servicer, we’ve proven that we know our stuff.

Expert Borrower Support

Real people. Real support. We’ll help you find a loan that fits your needs.

Personalized Solutions

No matter what level of education you’re pursuing, Nelnet Bank’s got you covered. We offer refinancing solutions for undergrad, graduate, private, and federal loans.

Easy to Apply

See the rate you qualify for in as little as two minutes and save for years. Plus, we don’t believe in application or prepayment fees.


  • $36,000+ income, 680+ FICO Credit
  • Loan Limits: $125,000 Undergrad, $150,000 Graduate, $175,000 MBA and Law, $225,000 Heath Professionals
  • Loan approval subject to credit review

Nelnet Bank Student Loan Refinance Full Terms and Conditions

Discover Student Loans

  • Great rates and flexible terms that could lower your monthly payment amount
  • Make just one payment each month so you don't have to worry about multiple payments and due dates
  • Consolidate your federal and private student loans
  • $0 fees required. That means you will not be required to pay any fees, including application, origination or late fees
  •  0.25% interest rate reduction while enrolled in automatic payments
  • Show more info »

With Discover Student Loans, you can consolidate federal and private student loans. You may be able to:

  • Lower your interest rate
  • Lower your monthly student loan payments
  • Simplify with one loan and one monthly payment
  • Obtain a loan without a cosigner

Discover Student Loans offers great rates and flexible terms.

Borrower Benefits

 0.25% interest rate reduction while enrolled in automatic payments.

Interest Rates, Fees, and Terms

  • Choose a variable or fixed interest rate
    • Variable interest rates from 1.87% APR to 5.87% APR1
    • Fixed interest rates from 3.49% APR to 6.74% APR for a 10-year term1
    • Fixed interest rates from 3.74% APR to 6.99% APR for a 20-year term1
  • $0 fees required. That means you will not be required to pay any fees, including application, origination or late fees
  • Consolidate your federal and private loans
  • Apply in 15 minutes or less from your computer, smartphone or other mobile device
  • No prepayment penalty if you pay your loan off early


To qualify, your must:

  • Be a US citizen or permanent resident with a US-based address.
  • Be 18 years or older at the time your apply.
  • Pass a credit check.
  • Have no more than $150,000 in aggregate student loan debt. Higher limits may apply for specific fields of study.
  • Have verifiable income sufficient to support your debts and show a positive repayment history.
  • Be the primary borrower on the loans you want to consolidate.

Discover® Student Loans Full Terms and Information

Splash Financial Refinance Loan

  • Rates as low as 1.89%1 Variable APR and 2.63%1 Fixed APR
  • No pre-payment penalties, origination, or application fees
  • See rates in 3 minutes without affecting your credit score2
  • Show more info »

Splash Financial Refinance Loan

Splash Financial negotiates with credit unions and banks to provide low refinancing rates to student loan borrowers.

Splash is a student loan refinance company that negotiates with credit unions and banks to provide market-leading rates. Our sole focus is helping graduates save money through student loan refinancing – it’s the only product we offer!

The Splash Financial Refinance Loan Offers the Following:

  • Rates as low as 1.89%1 Variable APR and 2.63%1 Fixed APR
  • See your rates in 3 minutes without affecting your credit score2
  • No pre-payment penalties, origination, or application fees
  • Minimum loan amounts starting at $5,000 and no loan maximums
  • Special terms for Medical and Dental Residents and Fellows

Minimum Eligibility Requirements

  • Graduates with an associate, bachelor’s or graduate degree
  • Parents who took out educational loans to finance their child’s education are also eligible if the child has graduated
  • Borrower and cosigner, if applicable, must be a U.S. citizen or permanent resident
  • 650+ FICO
  • <50% Monthly Debt-to-Income Ratio

Loan Limits

Minimum Loan Amount: $5,000

Annual loan maximum: No Maximum

Splash Financial Refinance Loan Full Terms and Information

ELFI Student Loan Refinance

  • Customers are saving an average of $309 every month and an average of $20,936 in total savings after refinancing their student loans with Education Loan Finance1
  • Variable and fixed rates starting from 2.39% APR and 2.79% APR2
  • Prequalify in as little as two minutes
  • Award winning customer service from your dedicated Personal Loan Advisor who is matched to you from the moment you sign up
  • Show more info »

ELFI Student Loan Refinance

Education Loan Finance is a nationwide student loan debt consolidation and refinancing program offered by Tennessee based SouthEast Bank. Offering among the lowest rates in the industry coupled with award winning customer service, it is designed to assist borrowers through consolidating and refinancing education loans to lower your cost of education and/or makes repayment very simple.

Education Loan Finance – backed by the strength of SouthEast Bank – combines the benefits of traditional education loan financing with the superior products, service, and support found in the private market.

ELFI Full Loan Terms and Information

College Ave Student Loans

  • Variable rate range: 3.24% – 6.04% APR1
  • Fixed rate range: 3.34% – 6.54% APR1
  • No application or prepayment fees
  • Apply in 3 minutes or less for instant credit decision
  • Show more info »

College Ave Student Loans Refi was created to help graduates refinance existing student loans so they can repay their loans easily while reducing the total cost and/or monthly payment.

  • No application or origination fees
  • Variable interest rates from 3.24% – 6.04% APR1
  • Fixed interest rates from 3.34% – 6.54% APR1
  • Choose how long you take to repay the loan


  • You (and your cosigner, if applicable) must be a U.S. Citizen or permanent resident.
  • Must have graduated from a public or private, not-for-profit, degree granting institution
  • Consolidate and refinance up to $300,0003
  • All loans are subject to individual approval and adherence to underwriting guidelines.

College Ave Full Loan Terms and Information

PenFed Student Loans Powered by Purefy

  • Refinance federal and/or private student loans at lower rates with no fees.
  • Choose a 5, 8, 12, or 15 year term to best fit your needs.
  • Each applicant receives a personal loan advisor to help them through every step in the process.
  • Spouses can refinance their loans together. Parents can refinance their loans too.
  • Show more info »
Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.6 million members and over $24 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.

PenFed Student Loan Refinancing Full Terms and Information

Thrivent Student Loans

  • Competitive fixed and variable rate options
  • Option of immediate or graduated repayment plans
  • Repayment terms of 5, 10, or 15 years
  • Cosigner release available after 24 months of consecutive on-time payments
  • Show more info »

Thrivent Education Refi Loan

Thrivent Student Loan Resources and their lending partner, Thrivent Federal Credit Union, are dedicated to helping college-bound Christians and their families realize their educational dreams, plan for their future, and prepare for life after graduation with a full range of financial services, products and options. A member owned, not for profit organization.

The Thrivent Education Refi Loan Is Best for You If You Want:

  • To combine all of your education loans into one new refinance loan
  • An opportunity to secure a lower interest rate
  • To choose from a variable or fixed rate loan
  • To choose from multiple repayment options

Thrivent Education Refi Loan Terms:

  • Fixed rates as low as 3.74% (with auto-debit) with APR of 3.74%1
  • Variable rates as low as 4.00% (with auto-debit) with APR of 4.00%2
  • 0.25% interest rate reduction with automatic payments via ACH
  • Repayment terms of 5, 10 or 15 years3
  • Max borrow amount - $120,000.00
  • Repayment options:
    • Graduated
    • Immediate repayment


  • Must be at least 18 years or older to apply
  • Must be a U.S. Citizen or permanent resident
  • Must have graduated from an eligible school
  • Must be able to show proof of income and residency
  • Must be a member of Thrivent Federal Credit Union prior to loan disbursement. If a borrower is not already a member, they will be asked to apply for membership during loan application process

Product Specifications:

  • Minimum loan amount for the refi program is: $10,000
  • Max loan amount for REFI: $120,000
  • Minimum qualifying credit score for eligible borrower is 660; but will require an eligible cosigner. (Other standards of creditworthiness, and debt-to-income apply, but that is the minimum qualifying score.)

Thrivent Education Refinance Loan Terms and Conditions

**Not all lenders that may offer private loan refinancing are listed above and you may be able to obtain a private refinance loan from another lender. Edvisors cannot guarantee loan eligibility for site users. Please check with your lender directly for information related to your personal eligibility.

*** Illinois residents, please click on this link

How to Refinance Student Loans

To refinance student loans, follow these simple steps:

  1. Determine which loans you want to include. You can refinance your federal and private student loans together, or only some of them. Or you can even refinance a single loan.
    • It’s a good idea to pull a free copy of your credit report ( to find all your lenders and loan balances.
  2. Choose your lender. Compare loan options from some of the best lenders in the country that offer flexible repayment terms and interest rates as low as 1.87%.
  3. Click on “Apply Now” to start the application process. You’ll be asked to furnish sensitive information such as income and specifics about the loans you want to include. You’ll also be asked to consent to a credit check.
  4. Upload the required documents and e-sign the loan.
  5. Wait for final confirmation that each of your loans have been paid in full. This could take about 30 to 60 days depending on the number of loans you’re including in your refinance. Continue making your regularly scheduled payments until your refinanced student loan is complete.

How to Consolidate Student Loans

In order to consolidate student loans, you’ll need to decide which loans to include and whether you want to use federal consolidation or private student loan refinancing. For federal loans, here are the steps to consolidate:

  1. Find all of your federal loans. You can go to My Federal Student Aid or call 1-800-4-FED-AID (800-433-3243).
  2. Submit the Direct Consolidation Loan Application online. You will need to log in using your FSA ID. There is no fee to apply.
  3. Confirm the loans you want to consolidate, agree to the repayment terms, and sign the Promissory Note.
  4. NOTE: According to the Federal Student Aid website, you must complete the application process in one session which usually takes no longer than 30 minutes.

How Long Does it Take to Pay Off Student Loans?

The amount of time it takes to pay off your student loans depends largely on your loan balance. This chart can be used as a general guideline, but you can also use our Student Loan Refinance Calculator for a more specific estimate.

Standard Repayment Plan Examples

standard repayment plan payment examples

Interest Rate
Loan Balance 3% 4% 5% 6% 7% 8% 9% 10% 
$10,000 $96.56 $101.25 $106.07 $111.02 $116.11 $121.33 $126.68 $132.15
$20,000 $193.12 $202.49 $212.13 $222.04 $232.22 $242.66 $253.35 $264.30
$30,000 $289.68 $303.74 $318.20 $333.06 $348.33 $363.98 $380.03 $396.45
$40,000 $386.24 $404.98 $424.26 $444.08 $464.43 $485.31 $506.70 $528.60
$50,000 $482.80 $506.23 $530.33 $555.10 $580.54 $606.54 $633.38 $660.75
$60,000 $579.36 $607.47 $636.39 $666.12 $696.65 $727.97 $760.05 $792.90
$70,000 $675.93 $708.72 $742.46 $777.14 $812.76 $849.29 $886.73 $925.06
$80,000 $772.49 $809.96 $848.52 $888.16 $928.87 $970.62 $1,013.41 $1,057.21
$90,000 $869.05 $911.21 $954.59 $999.18 $1,044.98 $1,091.95 $1,140.08 $1,189.36
$100,000 $965.61 $1,012.45 $1,060.66  $1,110.21 $1,161.08 $1,213.28 $1,266.76 $1,321.51

The payments made under standard repayment typically total about 116% to 159% of the original loan balance when the loan entered repayment, depending on the interest rate. This chart shows the total payments under standard repayment for various interest rates and loan balances.

Could student loan refinancing save you money?