Student Loan Repayment and Refinance Strategy for Social Workers
The graduate education required to become a social worker may mean a lot of student loan debt, but there are excellent debt elimination opportunities.
| Rank | Lender | Interest_Rates_ | Loan_Amounts____ |
|---|---|---|---|
| 1 | 3.94%* – 9.99% | $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 | ||
| 2 | 4.74% – 8.24% | $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 | ||
| 3 | 4.49% – 9.99% | $5,000 – No Max | |
| SoFi Review: SoFi is the biggest name in student loan refinancing for a simple reason – their rates are reliably among the best on the market. | Application | ||
| 4 | 4.45% – 9.99%^ | $5,000 – $550,000 | |
| Earnest Review: Earnest scores points because it has by far the most flexibility on loan repayment length. | Application + $150 Bonus^ | ||
| 5 | 4.39% to 9.24% | $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 is listed as an APR (Annual Percentage Rate) with all discounts available. The industry standard among nearly all lenders is to offer a .25% autopay discount. Listed rate for SoFi is Fixed Rate APR.
^Earnest: Actual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.40% APR to 10.24% APR (4.15% – 9.99% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.24% APR (5.88% – 9.99% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, MS, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and requires selection of our shortest term offered and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval. Please see the Earnest Disclosure for more details on rates and bonus terms.
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Methodology: Learn how these rankings are generated.
The graduate education required to become a social worker may mean a lot of student loan debt, but there are excellent debt elimination opportunities.
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SoFi and College Ave have similar interest rates, but SoFi gets the edge for most borrowers.
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