4 Options for Student Loan Refinancing for International Borrowers
To refinance international student loans you must build U.S. credit, get a co-signer or qualify for a niche loan.
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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.
- 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.
- 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.
Options for Student Loan Refinancing for International Borrowers
Lender | NerdWallet Rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
5.0 /5 | 650 | 5.24-9.99% | 6.24-9.99% | Check rate on SoFi's website | |
5.0 /5 | 650 | 5.19-9.74% | 5.99-9.74% | Check rate on Earnest's website | |
4.5 /5 | None | 11.74-12.95% | N/A | Check rate on MPOWER's website | |
4.5 /5 | 690 | 4.40-7.25% | 4.99-8.79% |
Our pick for
Borrowers with a U.S. citizen or permanent resident co-signer
SoFi Parent PLUS Refinancing
650
5.24-9.99%
6.24-9.99%
- You can refinance parent PLUS loans in your name.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- No co-signer release available.
- Loan size minimum is higher than most lenders.
- 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.
Brazos Student Loan Refinance
690
4.40-7.25%
4.99-8.79%
- Offers more repayment terms than many lenders.
- Offers greater-than-minimum payments via autopay.
- Only available to borrowers in Texas.
- Does not offer co-signer release.
- Typical credit score of approved borrowers: 781 for primary borrower or 794 for co-signer (and 690 for primary borrower).
- Minimum income: $60,000 for co-signer or primary borrower, or $30,000 for primary borrower if applying with a co-signer.
- Loan amounts: $10,000 up to $150,000 for bachelors degree holders; $250,000 for graduate or professional degree holders.
Our pick for
Borrowers with a green card
Earnest Student Loan Refinance
650
5.19-9.74%
5.99-9.74%
- 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.
- Loans aren't available in Nevada.
- 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.
Our pick for
Borrowers with no co-signer
MPOWER Student Loan Refinance
None
11.74-12.95%
N/A
- DACA and international students can qualify.
- Can refinance an international student loan.
- You can refinance your parent's loan in your name.
- Borrowers incur a 2% origination fee on the refinanced amount.
- Only one loan term available.
- Few options for struggling borrowers.
- Typical credit score of approved borrowers or co-signers: Unavailable.
- Minimum income: None.
- Loan amounts: $2,001 to $100,00.
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.
STUDENT LOAN REFINANCE RATINGS METHODOLOGY
Our survey of more than 29 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 February 22, 2024
NerdWallet's Options for Student Loan Refinancing for International Borrowers
- SoFi Parent PLUS Refinancing: Best for Borrowers with a U.S. citizen or permanent resident co-signer
- Earnest Student Loan Refinance: Best for Borrowers with a green card
- MPOWER Student Loan Refinance: Best for Borrowers with no co-signer
- Brazos Student Loan Refinance: Best for Borrowers with a U.S. citizen or permanent resident co-signer
