ADVERTISEMENT: PRODUCTS FROM OUR PARTNERS

A smart way to save on your student loans

Find out how student loan refinancing works — and when you should think twice about applying.

Here’s how student loan refinancing works

Compare refi rates

See the key facts and figures from standout refi lenders — all with a big stamp of Nerd approval.

See if you pre-qualify

This takes just 10 minutes — and helps you see if a lender is a good fit for you and your credit score.

Save now or later

Take advantage of low interest rates: Shrink your monthly payment or shorten the length of your loan.

Start comparing lenders to find the right one for you

🤓 A few Nerdy tips before you refi


Have a good sense of whether or not you’ll qualify. A general rule of thumb for student loan refinancing: Your credit score needs to be in the high 600s (or higher) and you should earn enough money to pay your debts and other expenses. Don’t make the cut? Don’t worry — you still might be able to refinance with a cosigner who does.

Check to see how much money you could save. At the end of the day, you’ll want a lower monthly payment or a lower interest rate. Use a student loan refi calculator to see how much money you could put back in your pocket.

Make sure you have private student loans, not federal. Refinancing federal loans means they won’t be eligible for student loan relief or loan forgiveness related to COVID-19. The Nerds recommend that you carefully weigh all the pros and cons before you refinance your student loans — while also working to improve your overall finances. That way, if and when the time comes to refi federal loans, you'll be in the best place possible to get stellar rates.

Ready for the next step? Let’s get started.