Figure Lending Suspends Student Loan Refinance Program
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Figure Lending stopped offering student loan refinancing in May 2020. While the lender will continue to service its existing refinanced loans, it isn’t accepting new applications for student loan refinancing.
Figure started refinancing student loans in October 2019, with a limited set of features and availability. Its initial refi product was built around an all-digital application process that eliminated steps like uploading pay stubs to verify income, for example.
Figure also offered a unique optional origination fee. This feature let you increase your balance by 1%, 2% or 3% in exchange for a lower fixed rate. (These fees were not available for variable rate loans.)
Compare student loan refinancing options
If you're looking to refinance student loans, use our student loan refinance calculator to compare lenders and find the right one for you:
Or compare student loan refinance lenders by category:
If you already refinanced with Figure
Figure will still be servicing its existing student loan refinance customers. Here are repayment details for these loans:
If you no longer wish to work with Figure, consider refinancing again with a different lender if you can qualify for a better interest rate. Don't take this step if you paid Figure's optional origination fee and have yet to pay off that additional cost.
