6 Best Pharmacy School Loan Refinance Options
Refinancing pharmacy school loans can be a money-saving strategy for pharmacists who work in the private sector.
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Refinancing pharmacy school loans can make sense if you're working full-time, have strong credit and a relatively low debt-to-income ratio. But don't refinance federal loans if you're interested in Public Service Loan Forgiveness or income-driven repayment — refinanced loans aren't eligible for those programs.
Our picks for student loan refinancing for pharmacists are below, as well as information that can help you decide whether refinancing 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 Pharmacy School Loan Refinance Options
Lender | NerdWallet Rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
4.5 /5 | 680 | 4.89-9.04% | 5.54-9.12% | See Offers on Credible’s website | |
 SoFi Medical Professional Refinancing See Offers on SoFi®'s website COMPARE RATES on Credible’s website | 4.5 /5 | None | 4.49-9.99% | 5.99-9.99% | See Offers on SoFi®'s website COMPARE RATES 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 |
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
SoFi Medical Professional Refinancing
None
4.49-9.99%
5.99-9.99%
- Key factsBest for borrowers who want plenty of benefits with their refinanced student loan.Pros
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Dedicated Student Loan Debt Specialist available for borrowers.
Cons- No co-signer release available.
- Loan size minimum is higher than most lenders.
QualificationsAvailable Term Lengths5, 7, 10, 15, 20 years
Earnest Student Loan Refinance
665
3.95-10.49%
5.88-10.49%
- Key factsBest for borrowers who want to customize their repayment schedule to pay off debt fast.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.
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/
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
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
Can you refinance pharmacy school loans?
You can refinance federal and private pharmacy school loans, but only with a private lender. When you refinance, a private lender will pay off your existing debt and issue you a new loan — ideally with a lower interest rate.
Reducing your interest rate can make a five-figure difference when you have six-figure pharmacy school debt. For instance, refinancing $158,00 — the average pharmacist student loan debt among the class of 2023, according to the American Association of Colleges of Pharmacy — from a 8% APR to a 6% APR would save around $245 a month and more than $15,000 total, assuming a 10-year loan term.
Should you refinance pharmacy school loans?
Refinancing is one strategy for repaying pharmacy school loans. You should consider this option in the following instances:
You’re employed full time. Unlike doctors and dentists, pharmacists don’t have the option to refinance pharmacy student loans during a one-year or two-year post-graduate residency.
You have strong credit. You'll need a score at least in the high 600s to qualify. But generally, the higher your score, the lower the rate you'll get.
You have private student loans. There's little downside to refinancing private student loans you took out for pharmacy school. If you can qualify for a lower interest rate, you can start saving money immediately.
You have federal loans but work in the private sector. If you don't work for a nonprofit or in the public sector, you may not need to hang onto federal student loan benefits like Public Service Loan Forgiveness and income-driven payment plans.
Refinance lenders will also look at your debt-to-income ratio, or your total monthly financial obligations compared to your income. The required debt-to-income ratio for student loan refinancing varies by lender but is generally 50% or less.
Your debt-to-income ratio could be too high. But lenders still may be willing to work with you if you have steady employment and an otherwise strong financial situation. If not, you may need to pay down some debt or increase your income before applying to refinance.
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 5, 2025
NerdWallet's Best Pharmacy School Loan Refinance Options
- LendKey Student Loan Refinance: Best for Low income refinancing
- SoFi Medical Professional Refinancing: Best for Extra benefits
- Earnest Student Loan Refinance: Best for Customized repayment schedules
- ELFI Student Loan Refinance: Best for Customer service
- Advantage Education Loan Student Loan Refinance: Best for Overall
- RISLA Student Loan Refinance: Best for Overall
