5 Best Student Loan Refinance Lenders and Expert Insights

Student loan refinancing is a great way to lower interest rates and speed up debt elimination. However, refinancing isn't the best choice for all borrowers.

Written By: Michael P. Lux, Esq.

Last Updated:

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Who Should Refinance?

Refinance Requirements

Getting the Best Rate

1Splash Financial4.96%* – 10.24%$5,000 – No Max
Splash Financial Review: Splash has competitive rates, but they start slightly higher than the top lenders. Splash also offers unique 8 and 12 year repayment terms.Application
+ Up to $500 Bonus
2ELFI5.28% – 8.99%$10,000 – No Max
ELFI Review: ELFI routinely offers excellent interest rates. Even though ELFI is new, it is the product of a regional bank that has been in business for decades.Application
+ $150 Bonus
3SoFi5.24% – 9.84%$5,000 – No Max
SoFi Review: SoFi consistently offers the best actual interest rates to applicants. Combine that with SoFi's unique job placement program for borrowers and you have a winner.Application
+ $150 Bonus
4Earnest5.19% – 9.99%^$5,000 – No Max
Earnest Review: The rates advertised by Earnest are among the best, but in head to head comparisons, Earnest often falls short in actual rates offered. Earnest scores points because it has by far the most flexibility on loan repayment length.Application
+ $150 Bonus^
5LendKey7.11% – 11.18%$5,000 – $300,000
LendKey Review: LendKey partners with local banks and credit unions to provide their loans. The end result is competitive rates provided by local reputable businesses.Application
+ $150 Bonus

Note: The lowest listed rate for each lender includes a .25% autopay discount where available. The industry standard among nearly all lenders is to offer this discount.

Click here for the full list of national lenders and reviews.
Methodology: Learn how these rankings are generated.

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