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 Financial1.99% – 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
2ELFI1.86% – 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
3Laurel Road1.89% – 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
4SoFi2.15% – 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
5CommonBond4.49% – 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.