How to Consolidate or Refinance Aidvantage Student Loans
Consolidating and refinancing are both options to streamline repayment and quickly eliminate Aidvantage student loans, but it is critical to make the right selection.
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 | ![]() | 4.47% – 9.24% | $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 | ||
2 | ![]() | 4.53% – 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 | ![]() | 4.74% – 7.75% | $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 | ![]() | 4.74% – 9.19% | $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 | ![]() | 4.47% – 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.
Consolidating and refinancing are both options to streamline repayment and quickly eliminate Aidvantage student loans, but it is critical to make the right selection.
Refinancing student loans is a great way to get lower interest rates, but it is a risky move for borrowers with federal student loans.
Refinancing before the federal interest rate freeze ends is risky. However, it is possible to lock in a low interest rate without missing out on any possible extensions.
Brazos offers excellent interest rates on their student loan refinance product. However, strict geographic limitations mean many borrowers won’t be eligible.
Refinancing student loans is a great way to lower interest rates and monthly payments. Unfortunately, this move may negatively impact student loan forgiveness options.
Discover advertises solid interest rates, but their student loan refinance option has a couple of major issues.
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.