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Best Student Loan Refinancing Services

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Last Updated December 2022

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crown iconBEST OF THE BEST
Splash Financial

# 1



DESCRIPTION


Splash Financial

Splash Financial has the most affordable repayment options for medical students and provides the low...

FEATURES


  • Loan amount - Minimum of $5K and varies by lender
  • Loan types - Undergraduate, healthcare graduate, and Parent PLUS
  • Fixed interest rate - Start at 2.59%
  • Prepayment penalty - Varies by lender
  • Fees - No origination and application fees
  • Variable interest rate - Start at 1.74% with autopay
  • Minimum income requirements - Varies by lender
  • Cosigner release - Varies by lender
  • Minimum credit score - 640

Pros


  • Splash Financial is one of the few companies that offer the option of refinancing with your spouse
  • The Company conducts soft online checks without affecting clients’ credit scores
BEST BANG FOR THE BUCK
Credible

# 2



DESCRIPTION


Credible

Credible has a prequalification tool that allows borrowers to make comparisons of customized rates f...

FEATURES


  • Loan amount - Varies by lender
  • Loan types - Private undergraduate, graduate, and Parent PLUS
  • Fixed interest rate - Varies by lender
  • Prepayment penalty - Varies by lender
  • Fees - The marketplace does not charge you for its services.
  • Variable interest rate - Varies by lender
  • Minimum income requirements - Varies by lender
  • Cosigner release - Varies from lender to lender. However, several offer it.
  • Minimum credit score - Varies by lender

Pros


  • The company allows clients to conduct a soft self-check online without affecting their credit scores.
  • Credible makes it possible to compare rates from multiple lenders in one place.
PenFed

# 3



DESCRIPTION


PenFed

PenFred offers low-interest rates and spousal loan options, making it the best credit union in the m...

FEATURES


  • Loan amount - Up to $300,000
  • Loan types - Graduate, undergraduate, and Parent PLUS
  • Fixed interest rate - 5.49%-7.68%
  • Prepayment penalty - None
  • Fees - None
  • Variable interest rate - Unavailable
  • Minimum income requirements - Ranges from $42,000 to $50,000. However, it depends on the loan amount and whether there is a cosigner or not.
  • Cosigner release - After one year of consecutive on-time payments
  • Minimum credit score - Unavailable

Pros


  • Borrowers in marriage can refinance their student loans into a single loan
  • PenFed allows borrowers to refinance parent PLUS loans under their names
  • This student loan refinancer requires clients to deposit $5 to open a membership account.
Laurel Road

# 4



DESCRIPTION


Laurel Road

Laurel Road has reduced rates on student loan refinancing for optometrists, nurses, dentists, physic...

FEATURES


  • Loan types - Undergraduate, healthcare graduate, and Parent PLUS
  • Fixed interest rate - 3.99%-6.40%
  • Prepayment penalty - None
  • Fees - None
  • Variable interest rate - 2.50%-6.30%
  • Minimum income requirements - None but varies per each applicant's financial profile.
  • Loan amount Min - $5,000 for a bachelor's degree and higher. Max: $50,000 for all non-parent PLUS refinance loans
  • Cosigner release - No, you must reapply for a loan to remove a cosigner.
  • Minimum credit score - 640, 650, or 660 depending on the education level

Pros


  • Laurel Road refinances Parent PLUS loans.
  • The Company does not charge originating, application, or disbursement fees
  • Borrowers can choose a term length of under twenty years
Earnest

# 5



DESCRIPTION


Earnest

Earnest is the best choice for customized loan repayment with an exciting approach to underwriting b...

FEATURES


  • Loan amount - $5,000-$500,000
  • Loan types - Undergraduate, graduate, and Parent PLUS
  • Fixed interest rate - Starting at 3.24%
  • Prepayment penalty - None
  • Fees - None
  • Variable interest rate - Starting at 1.74%
  • Minimum income requirements - The lender currently does not accept cosigners. Varies per each applicant's financial profile.
  • Cosigner release - Unavailable
  • Minimum credit score - 700

Pros


  • The Company's payments and loan terms are customizable
  • Earnest offers an option to skip one payment every 12 months
  • The Company provides discounts to borrowers subscribed to the autopay plan
  • Earnest allows borrowers to refinance their entire student loan amount
Top 5 Student Loan Refinance Providers
Best Student Loan Refinancing Services

Advertisers and marketers have flooded this internet with tons of Student Loan Refinance that claim to be the best. It can be hard to know which one is the best out of all those options. This article will give you a list of 5 Student Loan Refinance so you can make an educated decision before choosing what’s right for you.