9 Best Student Loan Refinancing Companies of July 2026
NerdWallet student loan experts evaluated dozens of data points to identify the best student loan refinance companies in categories such as most flexible repayment options. See our picks below and learn if it makes sense to refinance your student loans.
Why trust NerdWallet
- 17 student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and consumer lending.
- Objective, comprehensive star-rating system assessing 41 categories and more than 50 data points across student loan origination and student loan refinance.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
- 17 student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and consumer lending.
- Objective, comprehensive star-rating system assessing 41 categories and more than 50 data points across student loan origination and student loan refinance.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Best Student Loan Refinancing Companies
Lender | NerdWallet editorial rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
4.5 /5 | 650 | 4.25-9.79% | 5.68-9.79% | Check Rate on Earnest's website | |
4.5 /5 | Mid-600s | 6.99-13.99% | 6.99-13.99% | Check Rate on College Ave's website | |
5.0 /5 | 650 | 3.71-10.24% | 4.74-10.74% | Check Rate on Splash Financial's website | |
4.0 /5 | 650 | 3.99-9.99% | 5.74-9.99% | Check Rate on SoFi®'s website | |
4.5 /5 | 680 | 4.29-8.44% | 4.74-8.24% | Check Rate on ELFI's website |
Our pick for
Higher loan amounts
- Typical credit score of approved borrowers or co-signers: 760.
- Loan amounts: $5,000 to $500,000.
- Must have a degree: No, but must be within six months of graduation and have income or a job.
- Customizable payments and loan terms.
- Eligible borrowers can skip one payment every 12 months.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Won’t allow you to transfer parent loans to your name.
- Typical credit score of approved borrowers: Upper 700s.
- Loan amounts: $5,000 to $500,000.
- Must have a degree: Yes, must have graduated with at least an associate degree from an eligible school or program.
- Offers customized loan terms of 5 to 20 years, or any year in between.
- Allows borrowers to pre-qualify with a soft credit check.
- Offers automatic bi-weekly and greater-than-minimum payments.
- Has a 0.25-percentage-point rate discount with automatic payments.
- No application, origination or prepayment fees.
- Doesn’t allow co-signer release until a borrower is at least halfway through their repayment term.
- Doesn’t offer loans to borrowers with a bankruptcy history.
- Typical credit score of approved borrowers or co-signers: Did not disclose.
- Loan amounts: $5,000 to no maximum
- Must have a degree: Yes, a bachelor’s degree or higher.
- Select from multiple repayment options.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Loan features vary by lender.
- Forbearance and death discharge may not be available.
- You may need to become a member of a credit union to qualify.
- Typical credit score of approved borrowers or co-signers: 700+.
- Loan amounts: $5,000, up to your total outstanding loan balance.
- Must have a degree: Yes, an associate degree or higher.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Dedicated Student Loan Debt Specialist available for borrowers.
- No co-signer release available.
- Loan size minimum is higher than most lenders.
Our pick for
Borrowers with no degree
- Typical credit score of approved borrowers or co-signers: 760.
- Loan amounts: $5,000 to $500,000.
- Must have a degree: No, but must be within six months of graduation and have income or a job.
- Customizable payments and loan terms.
- Eligible borrowers can skip one payment every 12 months.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Won’t allow you to transfer parent loans to your name.
Our pick for
Customer support
- Typical credit score of approved borrowers: Does not disclose.
- Loan amounts: $10,000 with no maximum.
- Must have a degree: Yes, must have earned a bachelor’s degree or higher.
- Has a 0.25-percentage-point rate discount with automatic payments.
- Allows borrowers to pre-qualify with a soft credit check.
- No application, origination or prepayment fees.
- Assigns a dedicated student loan advisor.
- Charges a late payment fee, whereas some competitors do not.
- The minimum loan amount is higher than many other lenders require.
- Typical credit score of approved borrowers: Does not disclose.
- Loan amounts: Need a minimum student loan balance of $10,000 in order to refinance, and a maximum loan amount of $300,000 for a bachelor's degree, $500,000 for a graduate degree and $750,000 for a professional degree.
- Must have a degree: Must have a bachelor’s degree or higher to be eligible.
- Citizens Bank offers refinancing loan terms between five and 20 years.
- Applicants can learn their rate in just a few minutes with no hard credit pull.
- Co-signers are allowed but not required.
- Extra payments are applied to the principal balance, which can help borrowers pay down their loan faster than if extra payments were applied to the interest.
- International and Deferred Action for Childhood Arrivals (DACA) students can qualify with a citizen or resident co-signer.
- In order to refinance a loan, applicants must earn at least $24,000 in income.
- Late fees are charged for payments made after 15 days of the due date.
Our pick for
Applying to multiple lenders
- Typical credit score of approved borrowers: Does not disclose.
- Loan amounts: $5,000 to $250,000.
- Must have a degree: Yes, must have at least an associate degree.
- Allows borrowers to pre-qualify with a soft credit check (only for refi loans).
- Has a 0.25-percentage-point rate discount with automatic payments.
- Enables borrowers to shop multiple lenders with one application.
- Refinance loans not available in Maine, Nevada, North Dakota, Rhode Island or West Virginia.
- Typical credit score of approved borrowers or co-signers: Did not disclose.
- Loan amounts: $5,000 to no maximum
- Must have a degree: Yes, a bachelor’s degree or higher.
- Select from multiple repayment options.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Loan features vary by lender.
- Forbearance and death discharge may not be available.
- You may need to become a member of a credit union to qualify.
Our pick for
Flexible repayment
- Typical credit score of approved borrowers or co-signers: 760.
- Loan amounts: $5,000 to $500,000.
- Must have a degree: No, but must be within six months of graduation and have income or a job.
- Customizable payments and loan terms.
- Eligible borrowers can skip one payment every 12 months.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Won’t allow you to transfer parent loans to your name.
- Typical credit score of approved borrowers: Upper 700s.
- Loan amounts: $5,000 to $500,000.
- Must have a degree: Yes, must have graduated with at least an associate degree from an eligible school or program.
- Offers customized loan terms of 5 to 20 years, or any year in between.
- Allows borrowers to pre-qualify with a soft credit check.
- Offers automatic bi-weekly and greater-than-minimum payments.
- Has a 0.25-percentage-point rate discount with automatic payments.
- No application, origination or prepayment fees.
- Doesn’t allow co-signer release until a borrower is at least halfway through their repayment term.
- Doesn’t offer loans to borrowers with a bankruptcy history.
Our pick for
International borrowers
- Typical credit score of approved borrowers or co-signers: 760.
- Loan amounts: $5,000 to $500,000.
- Must have a degree: No, but must be within six months of graduation and have income or a job.
- Customizable payments and loan terms.
- Eligible borrowers can skip one payment every 12 months.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Won’t allow you to transfer parent loans to your name.
- Typical credit score of approved borrowers: Not available. MPOWER does not require a credit score.
- Minimum income: $30,000 for refinancing.
- Loan amounts: $2,001 to $100,000.
- Must have received degree: Yes, must have graduated from a Title 4 school.
- Provides refinancing for international students without the need for a resident or citizen co-signer.
- Offers a 0.25-percentage-point rate discount with automatic payments.
- Provides pre-approval within 30 minutes of application submission.
- Only for international students.
- Charges a 6.5% origination fee.
- Only offers a 10-year term.
- Typical credit score of approved borrowers or co-signers: 700+.
- Loan amounts: $5,000, up to your total outstanding loan balance.
- Must have a degree: Yes, an associate degree or higher.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Dedicated Student Loan Debt Specialist available for borrowers.
- No co-signer release available.
- Loan size minimum is higher than most lenders.
What is student loan refinancing?
Student loan refinancing takes one or multiple loans and combines them into a new loan with a private lender, such as a bank or online lender. The new servicer will pay off your old debt and typically offer a lower interest rate or longer term with smaller monthly payments. Refinancing is intended to either make your payments more manageable or save you money in the long run.
You can refinance federal and private student loan debt into one new private loan.
Will you qualify to refinance your student loans?
To refinance student loans, you'll generally need solid credit and steady income — those are the factors lenders use to determine whether you qualify and what rate you'll get.
Most lenders look for:
A credit score in the mid- to high 600s or above (higher scores typically unlock better rates).
Steady income and a manageable debt-to-income ratio.
A degree, in most cases — though some lenders will work with borrowers who haven't graduated.
If your credit or income isn't quite there yet, applying with a co-signer who meets the requirements can improve both your approval odds and your rate.
Should you refinance your student loans?
Refinancing student loans usually works best for those with strong credit and stable income, since this often results in better loan terms. For context, private student loan interest rates can be fixed or variable and range from about 3.79% to more than 10%. Borrowers with limited credit history or poor credit may not qualify for a rate low enough to make student loan refinancing worthwhile.
If you have federal student loans, refinancing means moving them to a private lender. That also means trading in federal protections — like income-driven repayment plans and loan forgiveness options — for a lower rate. That could be a worthwhile tradeoff for some borrowers, particularly those with stable finances who aren't planning to use those programs. But it's worth thinking through before you commit.
If you have private student loans, refinancing is a more straightforward decision. If you can qualify for a lower rate than you currently have, you could save money over the life of the loan or lower your monthly payment.
» Learn more: Should you refinance private student loans?
How to refinance student loans
1. Identify your financial goals. Do you need lower monthly payments? Or do you want to pay less interest over a shorter term? Refinancing to a shorter term means higher monthly payments, but you’ll pay less total interest. Lower monthly payments may seem more affordable in the short-term, but you’ll pay more interest over time.
2. Evaluate your finances. For the best chances of approval, you'll likely need a credit score in the mid to high 600s, a debt-to-income ratio of 50% or less and stable income. You’ll want to ask your current lender for the payoff amount for the loan, so you know how much money you’ll need.
3. Compare rates. Get pre-qualified with several lenders to compare estimated rates and terms. The lenders on this list will show you an offer without affecting your credit score. NerdWallet’s student loan refinance calculator can help you determine which offer saves the most money.
4. Choose a lender and complete the application. Some lenders require documentation to verify information like your income. Depending on the lender, you may be asked for the following as part of the formal application:
Loan income verification statement.
Proof of employment or income.
Proof of residency.
Identification.
Graduation information.
Choosing a lender and moving forward with the application will result in a hard credit inquiry, which will temporarily lower your credit score.
5. Sign the final documents. Once underwriting is complete, you’ll need to sign final paperwork to accept the loan. After you've signed the final disclosure documents, you typically have three days to cancel the loan if you change your mind.
6. Wait for loan payoff. Be sure to also ask your new lender when the original loan will be paid off. Most lenders send checks within 48 hours of closing the loan, but it can take longer. Continue making any payments due on your old loan until you are certain it has been paid off.
How are refinancing and consolidating different?
Student loan consolidation and refinancing both allow you to combine multiple loans into a single loan, but the two processes have very different purposes and consequences.
Only federal loans can be consolidated. The process happens through the Department of Education. Borrowers can combine multiple federal loans into a new Direct Consolidation Loan after graduating, leaving school or moving to less than half-time enrollment. Borrowers with certain types of federal loans must consolidate them to access repayment benefits, like income-driven repayment and Public Service Loan Forgiveness.
Both federal and/or private loans can be refinanced, always through a private lender.
Interest rates work differently. For a Direct Consolidation Loan, the rate is the weighted average of interest rates for the loans you are consolidating. That rate is fixed, meaning it will not change over time.
The rate you get for a refinanced loan depends on your credit, income and other factors.
You keep federal loan benefits when consolidating. A Direct Consolidation Loan is still a federal student loan, so you can access income-driven repayment plans and forgiveness programs.
Refinancing always results in a private student loan. Private lenders don’t give forgiveness options and don’t typically offer income-driven repayment plans.
» Learn more: The pros and cons of student loan consolidation
Frequently asked questions
Is it hard to get student loans refinanced?
It’s not hard to refinance student loans if your finances are in good shape. Lenders look for a credit score that’s in the mid- to high 600s or higher and a history of on-time loan payments. They also value applicants with stable incomes and a debt-to-income ratio of 50% or less.
If that doesn’t sound like you, look into refinancing loans with a co-signer, which may help you qualify. Also work to build your credit score, reduce debt and otherwise improve your financial profile.
The application itself varies by lender, but it’s typically straightforward. Be prepared to submit documentation to verify your identity, income and employment.
Can you refinance federal student loans?
You can refinance federal student loans into a private loan, but it means you'll permanently forfeit federal benefits like income-driven repayment plans and potential student loan forgiveness. If you want to keep your federal loans federal, consider consolidation with the Department of Education.
Last updated on July 1, 2026
How we chose the best student loans
Our team of student loan experts follows an objective and robust methodology to rate lenders and pick the best.
20
Providers reviewed
20
Providers reviewed
We reviewed 20 banks, credit unions and online lenders — including the top by market share and search volume — plus lenders serving niche and nontraditional borrowers.
10+
Categories designated
10+
Categories designated
Each lender is evaluated across weighted categories, covering dozens of features related to flexibility, affordability, availability, transparency and customer experience.
40+
Data points analyzed
40+
Data points analyzed
Our team tracks and reassesses more than 40 data points annually, including APR ranges, fees, credit requirements and borrower tools, ensuring up to date, accurate comparisons.
Star rating categories
We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
5.0
Overall score
NerdWallet reviewed 20 banks, credit unions and online lenders offering student loans and student loan refinancing. We included the top lenders by market share and online search volume, as well as lenders that serve specialty or nontraditional markets. Some lenders are NerdWallet partners, but this did not influence our selection of the winner.
Within weighted categories, we consider dozens of features and more than 40 data points for each financial institution. Depending on the category, these may include the availability of bi-weekly payments through autopay, minimum credit score and income requirement disclosures, availability to a wide range of borrowers in all states, extended grace periods and in-house customer service.
The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star. Read more about our ratings methodologies for student loans and our editorial guidelines.
NerdWallet's Best Student Loan Refinancing Companies of July 2026
- Earnest: Best for Higher loan amounts + Borrowers with no degree + International borrowers, Fixed APR: 4.25-9.79%
- College Ave: Best for Higher loan amounts + Flexible repayment, Fixed APR: 6.99-13.99%
- Splash Financial: Best for Higher loan amounts + Applying to multiple lenders, Fixed APR: 3.71-10.24%
- SoFi®: Best for Higher loan amounts + International borrowers, Fixed APR: 3.99-9.99%
- ELFI: Best for Customer support, Fixed APR: 4.29-8.44%
- Citizens: Best for Customer support, Fixed APR: 5.73-10.29%
- LendKey: Best for Applying to multiple lenders, Fixed APR: 4.39-9.24%
- Earnest: Best for Flexible repayment, Fixed APR: 3.79-9.79%
- MPOWER: Best for International borrowers, Fixed APR: 10.24-12.24%