5 Best Law School Student Loan Refinance Options
Consider refinancing law school loans if you practice in the private sector.
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Lawyers who work in the private sector are typically excellent candidates for student loan refinancing. That's because they generally have high incomes and don't qualify for federal loan benefits, like loan forgiveness programs.
The best lender to refinance law school loans will be the one that offers you the lowest interest rate. But you may want to consider additional criteria based on your career or loan repayment goals.
Here are our picks, as well as tips for determining if refinancing law school loans is right for you.
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- 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 Law School Student Loan Refinance Options
Lender | NerdWallet Rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
5.0 /5 | 670 | 5.95-9.99% | N/A | ||
4.5 /5 | 680 | 4.88-8.44% | 4.86-8.24% | See Offers on Credible’s website | |
4.5 /5 | 680 | 4.89-9.04% | 5.54-9.12% | See Offers on Credible’s website | |
5.0 /5 | 680 | 6.34-8.29% | N/A | See Offers on Credible’s website | |
4.5 /5 | Does not disclose | 5.90-11.38% | 6.18-12.37% | See Offers on Credible’s website |
Our pick for
Fast payoff
Earning a six-figure salary? Consider lenders that help you pay loans as quickly as possible to minimize interest costs.
Advantage Education Loan Student Loan Refinance
670
5.95-9.99%
N/A
- Key factsBest for borrowers who didn’t graduate.Pros
- You can refinance without a degree.
- Forbearance of 24 months is twice as long as most lenders.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons- Loans aren’t available in Alaska, Delaware, Illinois, Iowa, Nevada, New Jersey, Maine, Maryland, Rhode Island, Washington, Washington D.C.
- You cannot postpone repayment if you re-enroll in school.
Qualifications- Typical credit score of approved borrowers: Does not disclose.
- Minimum income: Does not disclose.
- Loan amounts: Minimum $7,500. Maximum depends on creditworthiness and debt-to-income ratio.
Available Term Lengths10, 15 or 20 years
ELFI Student Loan Refinance
680
4.88-8.44%
4.86-8.24%
- Key factsBest for borrowers who value good customer service.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/
Our pick for
Customer service
ELFI Student Loan Refinance
680
4.88-8.44%
4.86-8.24%
- Key factsBest for borrowers who value good customer service.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/
Our pick for
Payment flexibility
Advantage Education Loan Student Loan Refinance
670
5.95-9.99%
N/A
- Key factsBest for borrowers who didn’t graduate.Pros
- You can refinance without a degree.
- Forbearance of 24 months is twice as long as most lenders.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons- Loans aren’t available in Alaska, Delaware, Illinois, Iowa, Nevada, New Jersey, Maine, Maryland, Rhode Island, Washington, Washington D.C.
- You cannot postpone repayment if you re-enroll in school.
Qualifications- Typical credit score of approved borrowers: Does not disclose.
- Minimum income: Does not disclose.
- Loan amounts: Minimum $7,500. Maximum depends on creditworthiness and debt-to-income ratio.
Available Term Lengths10, 15 or 20 years
LendKey Student Loan Refinance
680
4.89-9.04%
5.54-9.12%
- Key factsBest for borrowers who prefer to work with a community bank or credit union, rather than a big bank.Pros
- Forbearance of 18 months for 15- and 20-year loan terms is longer than many lenders.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
Cons- Loans aren't available in Maine, Nevada, North Dakota, Rhode Island or West Virginia.
Qualifications- Typical credit score of approved borrowers or co-signers: 751.
- Loan amounts: $5,000 to $300,000, depending on the higest degree earned.
- Must have a degree: Yes, at least an associate degree.
Available Term Lengths5, 7, 10, 15 or 20 yearsDisclaimerSee LendKey's full terms and conditions at https://www.lendkey.com/disclaimers
RISLA Student Loan Refinance
680
6.34-8.29%
N/A
- Key factsBest for borrowers who want payment flexibility should they run into financial trouble.Pros
- Income-based repayment plan available, with forgiveness after 25 years.
- Co-signer release available after 24 months.
Cons- 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 Lengths5, 10 or 15 years
ELFI Student Loan Refinance
680
4.88-8.44%
4.86-8.24%
- Key factsBest for borrowers who value good customer service.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/
Citizens Student Loan Refinance
Does not disclose
5.90-11.38%
6.18-12.37%
- Key factsBest for existing Citizens Bank customers or borrowers who didn't graduate or aren't U.S. citizens.Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- You can refinance parent PLUS loans in your name.
- Loyalty discount: Borrowers with a Citizens Bank account when they apply get an additional 0.25% interest rate discount.
Cons- Estate is still responsible for loans refinanced by parents if the borrower dies.
Qualifications- Typical credit score of approved borrowers or co-signers: Does not disclose.
- Loan amounts: $10,000 to $500,000.
- Must have a degree: No.
Available Term Lengths5, 7, 10, 15 or 20 years
Should you refinance law school loans?
It can make sense to refinance law school loans in the following instances:
You work in the private sector. Avoid refinancing federal student loans if you work in public service or might want to. Public-interest lawyers may be eligible for better law school loan repayment options than refinancing, including Public Service Loan Forgiveness and Loan Repayment Assistance Programs.
You have a high salary. The median lawyer starting salary at private-sector firms was $155,000 in 2019, according to the National Association of Law Placement. Borrowers with solid earnings like that may not need federal options that reduce payments based on income. If you work at a Big Law firm or other private-sector employer — and have excellent credit and a history of on-time debt payments — you may qualify for a low refinance rate.
You already have private student loans. Whether you took out private loans for law school or your undergraduate degree, it makes sense to refinance them if you’ll qualify for a lower interest rate — even if you work in the public sector. Private loans won't qualify for federal repayment programs.
You previously refinanced your loans. You can refinance student loans as often as you want. For example, you may want to refinance right after finishing law school and again after making partner, if you're on that track. You may get a lower rate as you earn more money or raise your credit score.
You generally can’t refinance bar exam loans with your student loans. If you have these, prioritize paying them off fast, since their interest rates can be high.
How much could refinancing student loans save lawyers?
According to recent data from the National Center for Education Statistics, the average law school debt is $140,870. That would lead to a total repayment amount of $205,097, based on a 10-year repayment plan and an interest rate of 8%.
Refinancing law school loans at an interest rate of 5% would drop that total to $179,297 — a difference of $25,800. Use a student loan refinancing calculator to see how much you might save.
» MORE: How to pay for law school
Law school student loan consolidation
Consolidation combines your existing federal loans into a single loan, but it doesn't decrease your interest rate like refinancing can. Consider consolidating law school student loans if you want to make one monthly payment or need to consolidate to qualify for a repayment program, like Public Service Loan Forgiveness.
Some private lenders advertise their refinancing loans as "consolidation" loans. But only the government lets you consolidate law school loans into a new federal loan. You can complete this process at studentaid.gov.
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 May 14, 2025
Frequently asked questions
Refinancing law school loans can make sense if you're a private sector lawyer. That's because you may have strong income and not qualify for federal benefits like Public Service Loan Forgiveness.
Savings will vary based on your debt. But if you owed $140,870 — the average total debt for law students — refinancing from 8.08% to 5% APR would save you $26,515 over a 10-year repayment term.
You typically can't refinance loans for bar exam expenses, at least with your student loans. But you may be able to lower a bar loan's interest rate through other methods, like debt consolidation.
The best lender is the one that offers you the lowest interest rate. If multiple lenders are comparable, look for benefits that enable your repayment goals — like paying off loans faster or payment flexibility.
NerdWallet's Best Law School Student Loan Refinance Options
- Advantage Education Loan Student Loan Refinance: Best for Fast payoff + Payment flexibility
- ELFI Student Loan Refinance: Best for Customer service + Payment flexibility + Fast payoff
- LendKey Student Loan Refinance: Best for Payment flexibility
- RISLA Student Loan Refinance: Best for Payment flexibility
- Citizens Student Loan Refinance: Best for Payment flexibility
