3 Best Lenders to Refinance Vet School Loans
Refinancing student loans may not be an option or make sense for many veterinarians.
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Refinancing student loans at a lower interest rate may help veterinarians who want to pay less each month or over the life of their loan. But meeting a lender’s qualifications without a co-signer could be difficult for many vets.
Veterinarians may finish school with debt that can significantly exceed their salary, particularly for those working in residencies or public practices. Most refi lenders want applicants whose debt-to-income ratio, or DTI, is less than 50%. If you can hit that number and don’t need federal student loan benefits — like making payments based on your income — consider how much you might save by refinancing vet school loans.
Here are our picks for the best refinance lenders for veterinary student loans, plus additional advice to help vets decide whether refinancing is right for them.
Why trust NerdWallet
- 35+ student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and student loans.
- Objective, comprehensive star-rating system assessing 43 categories and 40+ data points across student loan origination and student loan refinance.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Why trust NerdWallet
- 35+ student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and student loans.
- Objective, comprehensive star-rating system assessing 43 categories and 40+ data points across student loan origination and student loan refinance.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Best Lenders to Refinance Vet School Loans
Lender | NerdWallet Rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
4.5 /5 | 680 | 4.88-8.44% | 4.86-8.24% | See Offers on Credible’s website | |
 Earnest Student Loan Refinance See Offers on Earnest's website COMPARE RATES on Credible’s website | 5.0 /5 | 665 | 3.95-10.49% | 5.88-10.49% | See Offers on Earnest's website COMPARE RATES on Credible’s website |
4.5 /5 | 700 | 7.41-11.03% | 7.52-9.27% | See Offers on Credible’s website |
ELFI Student Loan Refinance
680
4.88-8.44%
4.86-8.24%
- Key facts
ELFI has a maximum debt-to-income ratio of 55%.
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 Lengths5, 7, 10, 15 or 20 yearsDisclaimerSubject to credit approval. Terms and conditions apply. https://www.elfi.com/terms/
Earnest Student Loan Refinance
665
3.95-10.49%
5.88-10.49%
- Key facts
Earnest doesn't have a maximum DTI but instead considers if someone has a positive and stable income.
Pros- Customizable payments and loan terms.
- Option to skip one payment every 12 months.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons- Loans aren't available in Nevada.
Qualifications- 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.
Available Term Lengths5 to 20 yearsDisclaimerActual rate will vary based on your financial profile. Fixed annual percentage rates (APR) range from 4.60% APR to 10.74% APR (4.35% - 10.49% with .25% auto pay discount). Variable annual percentage rates (APR) range from 6.13% APR to 10.74% APR (5.88% - 10.49% with .25% auto pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once a month, but there is no limit on the amount that the rate could increase at one time. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and require selection of our shortest term offered (5 years) and enrollment in our .25% auto pay discount from a checking or savings account. Enrolling in autopay is not required as a condition for approval.
EDvestinU Student Loan Refinance
700
7.41-11.03%
7.52-9.27%
- Key facts
EdvestinU has a minimum DTI for 43% for the borrower. If the borrower has a cosigner, they must have have DTI of at least 43%.
Pros- You can refinance without a degree.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons- You cannot refinance parent PLUS loans in your name.
Qualifications- Typical credit score of approved borrowers or co-signers: 756.
- Minimum income: $30,000.
- Loan amounts: $7,500 to $200,000.
Available Term Lengths5, 10, 15 or 20 yearsDisclaimerAPR, projected monthly payments, and total cost of loan examples are based on a $10,000 loan disbursed in one disbursement with either 5–year, 10–year, 15–year or 20–year repayment. APR’s provided include a 0.25 percent interest rate reduction for authorizing our loan servicer to automatically deduct your payments each month from your bank account. The interest rate reduction for authorizing our servicer to automatically deduct monthly payments from a savings or checking account will not reduce the monthly payment, but will reduce the monthly finance charge, resulting in a lower total cost of loan. Variable APR rates may increase or decrease depending on fluctuations in the London Interbank Offered Rate (LIBOR) index. Monthly interest rate accrual is based on the published One–Month London Interbank Offered Rate ("LIBOR") as of the last business day of the previous month plus your applicable margin.
Debt-to-income ratio for refinancing vet school loans
Student loan refinance lenders consider many factors when evaluating applicants, including their credit scores, financial history and debt-to-income ratio. Meeting a lender’s DTI requirements may be the biggest hurdle for some veterinarians — the average vet school debt is $202,647, yet average veterinarian salaries are about $125,510 per year, according to 2024 data. Refi lenders determine DTI by comparing your gross monthly income to your monthly debt obligations.
The average DTI was 1.4 in 2024 for new veterinary graduates entering full-time employment, per the American Veterinary Medical Association.
If you want to refinance veterinary school loans but can’t because of your DTI, finding someone to co-sign your loan could help. If you go this route, look for a refinance lender that offers a co-signer release program — not all do.
If your DTI is manageable, compare all refi options to ensure you get the best rate possible.
Should you refinance vet school loans?
With veterinary school costs typically exceeding $200,000, the majority of students take on debt for their doctor of veterinary medicine degree. The type of loans you borrowed to pay for vet school and your employer will play a big part in whether it makes sense to refinance.
If you have private student loans: There’s little downside to refinancing private vet school loans if you can qualify for a lower interest rate.
If you have federal student loans: Government options are the best student loans for vet school because of their repayment flexibility and protections. By refinancing, you give up access to options such as Public Service Loan Forgiveness and income-driven repayment.
If you work for an eligible nonprofit or government agency: Don’t refinance federal student loans if you will qualify for tax-free Public Service Loan Forgiveness. Most animal hospitals are privately owned, so this may not be a concern for many veterinarians.
Which option saves you more money?
The most important federal benefit for vets will likely be income-driven repayment, which can greatly reduce monthly payments depending on how much money you earn. These plans also forgive your remaining debt after 20 or 25 years of eligible payments, but that amount is taxed.
» MORE: How to pay off vet school loans
Vets aiming for income-driven forgiveness should compare how much they’d repay overall — including taxes — to how much refinancing would cost. Your numbers will depend on your personal situation. For example, you may face a larger bill if you earn too much money to qualify for the IDR plan called Pay As You Earn, or PAYE.
Use the government's loan simulator and a student loan refinance calculator to determine your savings.
STUDENT LOAN REFINANCE RATINGS METHODOLOGY
Our survey of more than 19 banks, credit unions and online lenders offering student loans and student loan refinancing includes the top 10 lenders by market share and the top 10 lenders by online search volume, as well as lenders that serve specialty or nontraditional markets.
We consider 41 features and data points for each financial institution. Depending on the category, these include the availability of biweekly payments through autopay, minimum credit score and income requirement disclosures, availability to 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 loan refinance and our editorial guidelines.
Last updated on April 30, 2025
NerdWallet's Best Lenders to Refinance Vet School Loans
- ELFI Student Loan Refinance: Best for Customer service
- Earnest Student Loan Refinance: Best for Customized repayment terms
- EDvestinU Student Loan Refinance
