Best Student Loan Refinance 2017

Refinance your existing student loans into lower rates and pay less in interest.

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Student loan refinancing is when a lender pays off your existing student loan and replaces it with a new one, typically with a better rate. In an ideal situation, the lower interest rate translates into lower monthly payments and allows the borrower to save more money.

When refinancing a student loan, the school level of the borrower can affect things a great deal. For example, a graduate school student can refinance up to 50% more than an undergraduate. The borrower’s degree type, current enrollment status, original loan type, credit score, current level of income, and savings are also notable factors.

Furthermore, when choosing refinance options, loan terms, minimum balance requirements, and interest rates are all part of the decision-making process. Similar to other lending scenarios, student loan interest rates can either be fixed or variable. Variable rates typically start lower, but fluctuate with the market. That can make them a lot more of a  gamble. Fixed rates, on the other hand, remain the same throughout the term.  

If you decide student loan refinance is right for you, make sure you get a detailed explanation of closing costs and processes from the lender. Is there an origination fee? How long will it take to receive a quote? Is it easy to speak to a live representative? If approved, how long will it take to receive the money?

Top 8 Companies

Our Partner
9.6 / 10
  • SoFi members save an average of $22,359 by refinancing their student loans**
  • Find your rate in 2 minutes
  • Consolidate & refinance your federal or private student loans
  • As low as 3.35% fixed or 2.795% variable APR (with Autopay)
  • Up to 20 year loan terms
  • Unemployment protection
  • Simple online application
Our Partner
9.6 / 10
  • Rates start for as low as 2.78% variable and 3.35% fixed APR
  • Find your rate in 2 minutes
  • Checking your rates does not affect your credit score
  • Get the best offers from top lenders
  • Select from multiple student refinance offers
  • Consolidate some or all to make single payments
  • Get prequalified in minutes 
Our Partner
9.4 / 10
  • LendKey has average savings of over $10,000
  • Higher chance of approval by LendKey's non-profit lender network
  • Check your rate in 2 minutes with no impact on your credit score
  • Reduce monthly payment up to 40%, average savings $10,000
  • Rates set at 2.67% APR - 7.26% APR
  • 5, 7, 10, and 15 year terms available
  • No obligation to accept. No fees or prepayment penalties
  • The largest unemployment protection period in the market
Our Partner
9.3 / 10
  • Saves you $21,810 on average for student loan refinancing
  • More rates to choose from = more flexibility
  • Switch from fixed to variable or vice versa to take advantage of low interest rates
  • Unemployment protection
  • Change payment amount and payment date anytime
  • Get a quick rate estimate in 2 minutes
  • A bank with personality. Call, email or text them anytime.
  • No minimum credit score or minimum income requirements
Our Partner
9.0 / 10
  • Rates as low as 2.43% APR
  • Compare quotes from up to 5 lenders in 90 seconds
  • Receiving quotes will not affect your credit score
  • Save time by viewing offers online
  • Zero application, origination, or pre-payment fees
Our Partner
8.9 / 10
  • Low interest rates and a variety of repayment options.
  • Consolidate both federal and private student loans
  • Variable rates ranging from 2.39% - 6.01% APR*
  • Fixed rates ranging from 3.19% - 6.69% APR*
  • Repayment terms of 5, 7, 10, 15, and 20 years
  • No application, origination, or prepayment fees


Laurel Road
Our Partner
8.9 / 10
  • Competitive rates
  • Average borrower saves $20,200+
  • No application, origination, prepayment fees
  • As low as 2.99% variable, 3.95% fixed
  • Unemployment protection
  • Repayment terms of 5 – 20 years
  • Residents will pay only $100/month through residency, fellowship and first 6 months in practice, regardless of $ refinanced.
  • Receive a $100 Bonus when refinancing with Laurel Road
  • Student loan refinancing of up to 100% of Federal and Private loan
Our Partner
8.9 / 10
  • Save an average of $24,046 ($323/month) when refinancing student loans
  • 660 minimum FICO
  • No minimum income requirement
  • Get a no-obligation rate quote in less than 5 minutes
  • No application fees, origination fees, or prepayment penalties
  • Refinance up to $500,000 in federal and private student loans
  • Economic forbearance and unemployment protections
  • 5, 7, 10, and 20 year loan terms


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Best Student Loan Refinance: Summed Up

RankCompany NameStrengths
1SoFiBest Overall
2CredibleLoan Limits/Terms, Additional Fees
3LendKeyAdditional Fees
4EarnestSavings, Loan Limits/Terms

How We Compare Student Loan Refinance

Select 2 student loan refinance companies to compare
Savings - 30%
Qualifications - 25%
Loan Limits/Terms - 15%
Customer Service - 10%
Additional Fees - 10%
Application Process - 10%
Resources From Our Editors
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Trinity College - Dublin, Ireland (Source: Jordan Steinberg) In the United States, Columbia University charges an annual tuition of $55,161, not including expenses. Oxford University, in the United Kingdom, costs $11,350 per year. The University of British Columbia, in Canada, charges...
Editor's Choice
Our Partner