Student Loan Refinancing

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Best online student loan refinance companies

Sofi

SoFi was the first company that I discovered when I refinanced my pharmacy school loans. My wife and I both refinanced through Sofi. Getting a lower interest rate is great and will make it easier to pay off your debt fast.

  • Loan Terms: 5 – 20 years
  • Variable APR: 2.80% – 1.909% (includes 0.25% autopay discount)
  • Fixed APR: 3.899% – 8.179% (includes 0.25% autopay discount)
  • Minimum Loan Amount: $5,000
  • Maximum Loan Amount: No maximum

Common Bond

CommonBond offers undergraduate loans, graduate & MBA loans, as well as student loan refinancing. CommonBond is the only lender that offers a 10-year hybrid loan, which is a fixed interest rate for the first five years and then a variable rate for the next five years.

  • Loan Terms: 5 – 20 years
  • Variable APR: 2.57% – 6.65% (includes 0.25% autopay discount)
  • Fixed APR: 3.20% – 6.65% (includes 0.25% autopay discount)
  • Minimum Loan Amount: $5,000
  • Maximum Loan Amount: $500,000

LendKey

LendKey started as a peer-to-peer loan platform for student loans but since moved to refinance student loans.

  • Loan Terms: 5 – 20 years
  • Variable APR: 2.47% – 8.03% (includes 0.25% autopay discount)
  • Fixed APR: 3.49% – 8.72% (includes 0.25% autopay discount)
  • Minimum Loan Amount: $5,000
  • Maximum Loan Amount: $125K Undergrad, $250K Graduate, $300K Medical

Laurel Road

Laurel Road. is one of the leaders in student loans today. The average Laurel Road client will save $20,000 on the life of their loans.

  • Loan Terms: 5 – 20 years
  • Variable APR: 2.80% – 6.38% (includes 0.25% autopay discount)
  • Fixed APR: 3.50% – 7.02% (includes 0.25% autopay discount)
  • Minimum Loan Amount: $5,000
  • Maximum Loan Amount: No maximum

Earnest

With Earnest, you can customize your exact monthly payment to fit your budget. Additionally, they match your custom term with a custom interest rate — saving you even more money when refinancing.

  • Fixed Rates (with autopay):  3.47% – 7.72% APR
  • Variable Rates (with autopay):  2.41% – 6.99% APR
  • Loan terms: 5 to 20 years term
  • Minimum Loan Amount: $5,000
  • Maximum Loan Amount: $500,000

Credible

A great way to save money on your student loans is by refinancing them to a lower interest rate. Credible is a great tool because it’ll get you a bunch of rates in one spot from a bunch of different student loan refinancing companies. From there, just choose the company that offers you the best rate.

Splash Financial

Splash Financial offers student loan refinance loans originated by Pentagon Federal Credit Union, known as PenFed. Splash Financial stands out because it’s one of the few lenders to let married couples refinance student loans together.

  • Fixed: 3.87% – 7.03%
  • Variable: 3.05% – 7.79%
  • includes autopay discount of 0.25%
  • Loan terms: 5, 8, 12 and 15 years
  • Minimum Loan Amount: $7,500
  • Maximum Loan Amount: $300,000