Am I eligible to refinance my student loans?

Best Banks That Consolidate Student Loans

Compare Your Refinancing Options

Lender
Benefits
  • Variable rate range: 2.63% – 7.50%1
  • Fixed rate range: 3.25% – 7.50%1
  • No application or prepayment fees
  • Choose immediate full payments or 2 years of interest only
  • Apply in 3 minutes or less for instant credit decision
  • Show more info »

College Ave Student Loans Refi was created to help graduates refinance existing student loans so they can repay their loans easily while reducing the total cost and/or monthly payment.

  • No application or origination fees
  • Variable interest rates from 2.63% – 7.50% APR1
  • Fixed interest rates from 3.25% – 7.50% APR1
  • Choose how long you take to repay the loan
  • Choose to start paying in full right away or pay just the interest charges each month for the first two years

Borrower Benefits

  • Additional 0.25% interest rate reduction with Nationwide Bank © discount1

Eligibility

  • You (and your cosigner, if applicable) must be a U.S. Citizen or permanent resident.
  • Must have graduated from a public or private, not-for-profit, degree granting institution
  • Consolidate and refinance up to $250,0003
  • All loans are subject to individual approval and adherence to underwriting guidelines.

Full loan terms and information

  • Rates as low as 2.76% APR — borrowers save $14,000 on average1,2
  • Get a no-obligation rate quote in minutes
  • Show more info »

CommonBond Loan Refinancing and Consolidation

CommonBond was founded by 3 grad school students tired of paying high interest rates on their student loans. Since then, we’ve funded over $100 million in loans and have helped thousands of students, graduates and parents save.

CommonBond is changing the student loan process through:

  • Savings
  • Simplicity
  • Service
  • Social Promise

CommonBond Loan Refinancing and Consolidation full terms and information

  • Refinance and consolidate federal and private student loans
  • Choice of fixed or variable interest rates
  • Show more info »

Don't get stuck with the standard student loan rate. You've worked hard; you deserve better. Learn how SoFi can help you put money back in your pocket:

  • Savings: The average SoFi Borrower saves around $17,2081
  • Rates: Variable rates as low as 2.35% APR and fixed rates as low as 3.37% APR with Autopay2
  • Simplicity: Consolidate all existing student loans (federal and private) into a single loan with one monthly payment
  • No Fees: No origination fees and no prepayment penalties

SoFi Private Student Loan Consolidation full terms and information

  • No fees, refinancing available for federal and private loans.
  • Use our Find My Rate tool to immediately see your interest rate, new monthly payment and lifetime interest savings before you apply.    
  • Our borrowers lower their interest rate by 2.12% 3 on average.
  • Ability to consolidate spouse loans into one low monthly payment,
  • Show more info »
Since its online launch in 2014, Purefy has been dedicated to being pro-consumer and transparent and to doing things a little differently than the rest of the student loan market. With a commitment to honest and personalized customer service, Purefy provides the information and tools borrowers need to save money and get out of debt faster.

Purefy Student Loan Refinancing Full Terms and Information

  • Consolidate federal and private student loans
  • No origination fee or prepayment penalties
  • Show more info »

The ideal candidate for the LendKey Student Loan Consolidation has:

  • Minimum Loan: $7,500
  • Maximum Loan (undergraduate): $125,000
  • Maximum Loan (graduate): $250,000
  • Graduated from a LendKey eligible school
  • Applicants must have reliable gross monthly income of $2,000 per month. If the applicant does not meet this income requirement, their cosigner must have reliable gross monthly income of $2,000 per month.
  • Primary borrower and cosigner, if applicable, must be a U.S. citizen or permanent resident.

Benefits:

  • 2-Minute rate check with no impact on your credit score
  • Choose from fixed and variable rates in 5, 7, 10, 15, and 20 year term options to fit your budget
  • Reduce monthly payments by up to 40% and save an average of over $10,000
  • *275+ not-for-profit and community lenders to choose from mean higher chances for approval and lower rates
  • Available for private and federal, undergraduate and grad school student loans
  • 0.25% Interest Rate Reduction with automatic payments
  • *Interest only repayment option available for up to first four years of repayment
  • *Largest unemployment protection period in the market at 18 months
  • No origination fees or prepayment penalties
  • Cosigner release available after 12 monthly payments
  • No handoffs ever, you stay with LendKey from application to final payment
  • 97% borrower satisfaction shows our best in class customer service

*Only available with LendKey!

Documents required for application:

  • Proof of ID
  • Proof of graduation
  • Proof of income (pay stubs or W-2)
  • Current student loans(s) monthly statement and 30-day payoff statement

LendKey Private Student Loan Consolidation full terms and information

  • Great rates and flexible terms that could lower your monthly payment amount
  • Make just one payment each month so you don't have to worry about multiple payments and due dates
  • Consolidate your federal and private student loans
  • No fees ever - $0 application, origination or late fees
  • 0.25% interest rate reduction while enrolled in automatic payments1
  • Show more info »

With Discover Student Loans, you can consolidate federal and private student loans. You may be able to:

  • Lower your interest rate
  • Lower your monthly student loan payments
  • Simplify with one loan and one monthly payment
  • Obtain a loan without a cosigner

Discover Student Loans offers great rates and flexible terms.

Borrower Benefits

Get a 0.25% interest rate reduction when you are enrolled in automatic payments. The 0.25% rate reduction is included in the lowest listed APRs..1

Interest Rates, Fees, and Terms

  • Choose a variable or fixed interest rate
    • Variable interest rates from 4.12% to 7.37% APR (3-Month LIBOR + 2.49% to 3-Month LIBOR + 5.74%)2
    • Fixed interest rates from 5.24% to 8.24% APR for a 10-year term2
    • Fixed interest rates from 5.49% to 8.24% APR for a 20-year term2
  • No fees ever - $0 application, origination or late fees
  • Consolidate your federal and private loans
  • Apply in 15 minutes or less from your computer, smartphone or other mobile device
  • No prepayment penalty if you pay your loan off early

Eligibility

To qualify, your must:

  • Be a US citizen or permanent resident with a US-based address.
  • Be 18 years or older at the time your apply.
  • Pass a credit check.
  • Have no more than $150,000 in aggregate student loan debt. Higher limits may apply for specific fields of study.
  • Have verifiable income sufficient to support your debts and show a positive repayment history.
  • Be the primary borrower on the loans you want to consolidate.

Learn More

  • Competitive fixed and variable rate options
  • Option of immediate or graduated repayment plans
  • Cosigner release available after 24 months of consecutive on-time payments
  • Show more info »

Thrivent Education Refi Loan

Thrivent Student Loan Resources and their lending partner, Thrivent Federal Credit Union, are dedicated to helping college-bound Christians and their families realize their educational dreams, plan for their future, and prepare for life after graduation with a full range of financial services, products and options. A member owned, not for profit organization.

The Thrivent Education Refi Loan Is Best for You If You Want:

  • To combine all of your education loans into one new refinance loan
  • An opportunity to secure a lower interest rate
  • To choose from a variable or fixed rate loan
  • To choose from multiple repayment options

Thrivent Education Refi Loan Terms:

  • Fixed rates as low as 3.74% (with auto-debit) with APR of 3.74%1
  • Variable rates as low as 3.25% (with auto-debit) with APR of 3.25%2
  • Repayment terms - up to 15 years3
  • Max borrow amount - $120,000.00
  • Repayment options:
    • Graduated
    • Immediate repayment

Qualifications:

  • Must be at least 18 years or older to apply
  • Must be a U.S. Citizen or permanent resident
  • Must have graduated from an eligible school
  • Must be able to show proof of income and residency
  • Must be a member of Thrivent Federal Credit Union prior to loan disbursement. If a borrower is not already a member, they will be asked to apply for membership during loan application process

Product Specifications:

  • Minimum loan amount for the refi program is: $10,000
  • Max loan amount for REFI: $120,000
  • Minimum qualifying credit score for eligible borrower is 660; but will require an eligible cosigner. (Other standards of creditworthiness, and debt-to-income apply, but that is the minimum qualifying score.)

Thrivent Education Refinance Loan Terms and Conditions

 

**Not all lenders that may offer private loan refinancing are listed above and you may be able to obtain a private refinance loan from another lender. Edvisors cannot guarantee loan eligibility for site users. Please check with your lender directly for information related to your personal eligibility.

*** Illinois residents, please click on this link.

Am I eligible to refinance my student loans?