4 Best Lenders to Refinance Vet School Loans of February 2023

Key facts

Pros

• You are assigned a student loan advisor.

• You can refinance parent PLUS loans in your name.

Cons

• Payment postponement isn’t available for borrowers who return to school.

• The minimum amount to refinance is more than many lenders require.

• No co-signer release available.

Qualifications

• Typical credit score of approved borrowers or co-signers: 774.

• Loan amounts: $10,000 up to your total outstanding loan balance.

• Must have a degree: Yes, at least a bachelor’s degree.

Available Term Lengths

5, 7, 10, 15 or 20 years

Disclaimer

Subject to credit approval. Terms and conditions apply. https://www.elfi.com/terms/

Key facts

Pros

• International students can apply with a co-signer who is a qualified U.S. citizen or permanent resident.

• You can see if you'll qualify and what rate you'll get without a hard credit check.

Cons

• Below-average customer support compared with other lenders.

• Doesn't allow biweekly payments via autopay.

Qualifications

• Typical credit score of approved borrowers or co-signers: Did not disclose.

• Loan amounts: $5,000 - $225,000.

• Must have a degree: No.

Available Term Lengths

Multiple term options

Disclaimer

Fixed interest rates range from 4.49% APR (with auto debit discount) to 9.44% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan. Variable interest rates range from 6.59% APR (with auto debit discount) to 13.25% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. Variable rates for Nelnet Bank Student Loans are calculated as the One-Month SOFR plus the applicable Margin percentage. Variable rates will be based on the highest One-Month SOFR as published by the Federal Reserve Bank of New York on the twenty-fifth day (or the next business day) of the immediately preceding calendar month. The variable rate may change on the first day of each month if the SOFR index changes. This may result in higher monthly payments. The current One-Month SOFR index is 4.32% as of January 1, 2023. The lowest interest rate for each loan type requires automatically withdrawn (“auto debit”) payments. The lowest rate is available only to the most creditworthy applicants. Not all borrowers will receive the lowest rate., The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the repayment option and loan term selected, and (3) the loan type selected. If approved, applicants will be notified of the rate qualified for within the stated range.

Key facts

Pros

• You can choose any loan term between 5 and 15 years.

• You can see if you’ll qualify and what rate you’ll get without a hard credit check.

Cons

• No co-signer release available.

• Students cannot refinance a parent PLUS loan in their name.

Qualifications

• Typical credit score of approved borrowers or co-signers: Mid-700s.

• Loan amounts: $5,000 to $300,000, depending on the highest degree earned.

• Must have a degree: Yes, an associate degree or higher.

Available Term Lengths

5 to 15 years

Disclaimer

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. As certified by your school and less any other financial aid you might receive. Minimum $1,000. Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation. This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 12/21/2022. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

Key facts

Pros

• Income-based repayment plan available, with forgiveness after 25 years.

Cons

• No co-signer release available.

• Students cannot refinance a parent PLUS loan in their name.

Qualifications

• Typical credit score of approved borrowers: 748.

• Loan amounts: $7,500 to $250,000, depending on the highest degree earned.

• Must have a degree: No.

Available Term Lengths

5, 10 or 15 years