Best-Of Awards 2026 Methodologies

Best Student Loan For Refinancing

How we picked the lenders to evaluate:

NerdWallet looked at 19 banks, credit unions and online lenders that offer private student loans and student loan refinancing, comprising close to 80% of the market. We also consider online search volume as a proxy for interest, as well as lenders that serve some specialty or nontraditional markets. Some of the providers are NerdWallet partners, but this did not influence our selection of the winner.

We send a survey to each lender inquiring about their loan products and services. Questions may differ based on the range of loan types on offer, but all surveys include more than 40 data points.

How we chose the winner:

NerdWallet scored lenders on 31 factors across multiple categories. Categories were scored and weighted as follows:

• FLEXIBILITY (20%): Lenders with the highest marks for payment flexibility generally offer at least five options for borrowers struggling with payments, including forbearance options and death and disability discharge.
• FAST REPAYMENT (15%): We pay close attention to whether a lender offers a 10-year term or shorter; has three or more loan terms; allows greater-than-minimum payments through autopay; allows bi-weekly payments through autopay; and offers an in-school repayment option. Top lenders generally meet all of NerdWallet’s criteria for faster repayment.
• AVAILABILITY (25%): Top lenders generally lend to those with at least an associate’s degree and allow the refinancing of PLUS loans. We look at eligibility requirements for degree completion, visa-holders, state of residence, parent loan refinance, co-signer, PLUS loan refinance, and refinance amounts.
• TRANSPARENCY (20%): Top lenders generally allow borrowers to get their interest rate and loan terms with a soft credit check and disclose their interest rate range, minimum income requirements and minimum credit score requirements.
• CUSTOMER EXPERIENCE (20%): Top lenders generally have a defined complaint process and separate complaint department or ombudsman, live chat and in-house customer service. We also look at access to a dedicated advisor.

How we verified our data:

NerdWallet writers and editors check lender websites to confirm key survey responses, and we follow up with company representatives as needed. At least one writer and an editor verifies every fact in every lender review to ensure accuracy.


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