Nelnet Bank Student Loan Refinance Review
Nelnet Bank refinance comes with some red flags to review, but it is ultimately a reasonable choice for borrowers looking for a lower interest rate.
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.
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.
Rank | Lender | Interest_Rates_ | Loan_Amounts____ |
---|---|---|---|
1 | ![]() | 1.99% – 9.14% | $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 | ![]() | 1.86% – 7.98% | $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 | ![]() | 1.89% – 6.30% | $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 | ||
4 | ![]() | 2.15% – 8.40% | $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 | ||
5 | ![]() | 4.49% – 8.25% | $5,000 – $500,000 |
CommonBond Review: CommonBond has a higher approval rate than many other lenders. The interest rates offered are high for short loans but competitive for longer length loans. | Application + $150 Bonus |
Click here for the full list of national lenders and reviews.
Methodology: Learn how these rankings are generated.
Nelnet Bank refinance comes with some red flags to review, but it is ultimately a reasonable choice for borrowers looking for a lower interest rate.
NaviRefi advertises great interest rates, but their connection to Navient and some consumer complaints are cause for concern.
Refinancing student loans can be a smooth process. Follow these simple tips to avoid mistakes and maximize savings.
By partnering with smaller banks and local credit unions, LendKey creates an easier approval process and offers lower interest rates. LendKey gets a 4/5 star rating.
Earnest gets a 4/5 rating due to excellent interest rates and high borrower satisfaction. However, some borrowers will want to avoid Earnest.
For most student loan borrowers, a good interest rate is one that is between 2% and 4%. However, many other circumstances need to be considered.
Citizens Bank and Earnest are both heavy hitters in the student loan refinance business, but Earnest is slightly better.
Refinancing federal student loans is often a risky decision. Refinancing private student loans is a smart move as long as you are getting a better interest rate or loan terms.
Citizens Bank isn’t flashy and doesn’t advertise the lowest rates in the market, but many borrowers actually qualify for excellent rates with Citizens.