BEST OF
4 International Student Loan Refinancing Options for 2021
To refinance international student loans you must build U.S. credit, get a co-signer or qualify for a niche loan.
Refinancing international student loans is more difficult for visa holders working in the U.S. who don’t have a credit history. There are private lenders that will refinance student loans, but you’ll have to do one of the following:
Build your U.S. credit history.
Have an eligible co-signer.
Qualify for a niche loan for international working graduates.
Refinancing means a lender will pay off your existing student loans with a new single loan at a lower interest rate. It can help you save money immediately and over time.
Below you'll find lenders that refinance international borrowers, plus more information about the refinancing strategies available to noncitizens who have built U.S. credit history, have a U.S. co-signer or have graduated and are working in the U.S. These lenders will only refinance student loans that were originally borrowed with a co-signer from U.S.-based lenders or from niche lenders for international students studying in the U.S.
Refinancing international student loans is more difficult for visa holders working in the U.S. who don’t have a credit history. There are private lenders that will refinance student loans, but you’ll have to do one of the following:
Build your U.S. credit history.
Have an eligible co-signer.
Qualify for a niche loan for international working graduates.
Refinancing means a lender will pay off your existing student loans with a new single loan at a lower interest rate. It can help you save money immediately and over time.
Below you'll find lenders that refinance international borrowers, plus more information about the refinancing strategies available to noncitizens who have built U.S. credit history, have a U.S. co-signer or have graduated and are working in the U.S. These lenders will only refinance student loans that were originally borrowed with a co-signer from U.S.-based lenders or from niche lenders for international students studying in the U.S.
Summary of International Student Loan Refinancing Options for 2021
| Lender | NerdWallet Rating | Fixed APR | Variable APR | Min. Credit Score | Learn More |
|---|---|---|---|---|---|
2.98 - 5.79% | 1.99 - 5.61% | 680 | See my rates on NerdWallet's secure website | ||
2.97 - 9.15% | 2.24 - 8.90% | Does not disclose | See my rates on NerdWallet's secure website | ||
2.99 - 6.88% | 2.25 - 6.43% | Does not disclose | See my rates on NerdWallet's secure website | ||
2.95 - 4.29% | 1.89 - 4.81% | 720 | Check Rate on Brazos's website |
on NerdWallet's secure website
CommonBond Student Loan Refinance
Fixed APR
Variable APR
Min. Credit Score
on NerdWallet's secure website
on NerdWallet's secure website
Citizens One Student Loan Refinance
Fixed APR
Variable APR
Min. Credit Score
on NerdWallet's secure website
on NerdWallet's secure website
SoFi Student Loan Refinance
Fixed APR
Variable APR
Min. Credit Score
on NerdWallet's secure website
on Brazos's website
Brazos Student Loan Refinance
Fixed APR
Variable APR
Min. Credit Score
on Brazos's website
Ways to refinance international student loans
Building a U.S. credit history
U.S. credit bureaus don't take into consideration credit history from other countries, so you’ll have to start from scratch. But as you live and work in the U.S. you can grow your credit profile.
Start building U.S. credit history. If you attended college in the U.S. and have student loans in repayment with a U.S. lender, you may already have some credit built. You can find out an existing credit history for free from one of the three major credit reporting bureaus — TransUnion, Experian or Equifax.
If you don't have a history or you want to continue building credit, apply for a credit card. Typically, credit lenders will want you to have a permanent address, a taxpayer ID number, income and a bank account. You might have to start with a secured credit card, which requires a cash security deposit.
Once you have a line of credit established, make payments each month, on-time and in full. Over time, you can build enough credit history to get your loans approved for refinancing by private lenders. Refinancing lenders look for borrowers with credit in at least the high 600s, a history of on-time loan payments and an income that is high enough to pay off the debt.
Refinancing if you have a visa
Some lenders may allow you to refinance, even if you have a working visa, as long as you have a co-signer who can meet credit history, income and payment history qualifications. Your co-signer will have to be a U.S. citizen or permanent resident, as well.
Last updated on February 12, 2021
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