Student Loan Refinancing

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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Student Loan Refinancing

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:

Affiliate Disclosure and Integrity Pledge

Who Should Refinance?

Refinance Requirements

Getting the Best Rate

RankLenderInterest_Rates_Loan_Amounts____
1Splash Financial2.50% – 8.90%$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
2ELFI2.99% – 7.29%$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
3Laurel Road2.50% – 6.90%$5,000 – No Max
Laurel Road Review: Laurel Road currently has excellent approval rates combined with solid interest rates. Laurel Road also has a specialized program for medical professionals.Application
+ $150 Bonus
4SoFi3.99% – 8.94%$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
5Earnest3.24% – 8.99%^$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^

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