Brazos Review: Refinancing Student Loans and Parent Loans

Brazos offers parent and private refinancing loans to student loan borrowers in Texas.
Anna HelhoskiAug 3, 2021

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Student loan ratings

Brazos
  • Student loan refinancing

  • Parent loan

The bottom line: Brazos offers parent loans and refinancing loans to borrowers with student loans in Texas. Brazos refinancing is best for student loan borrowers who need a refinancing loan and live in Texas. Brazos parent loans are best for parents who live in Texas and want to finance undergraduate or graduate education for their children.

Student loan refinancing review

Brazos Student Loan Refinance
Check Rate

on Brazos's website

Brazos Student Loan Refinance

4.5

NerdWallet rating 
Check Rate

on Brazos's website

Fixed APR

2.15 - 3.97%

Variable APR

1.88 - 4.80%

Min. Credit Score

690

Pros

  • You can see if you’ll qualify and what rate you’ll get without a hard credit check.
  • Offers greater-than-minimum payments via autopay.

Cons

  • Only available to borrowers in Texas.
  • Does not offer co-signer release.

Brazos is best for student loan borrowers who need a refinancing loan and live in Texas.

Brazos Higher Education Service Corp., a nonprofit, offers refinancing student loans to borrowers in Texas. Borrowers can see what rate they would qualify for without a hard credit check.

You must have a minimum income of $60,000 and a 720 credit score to qualify. If you don’t meet those criteria, you’ll need a co-signer who does, as well as an income of $30,000 and a credit score of 690 on your own.

Brazos, like other five-star loans, isn't perfect. They could improve by offering additional programs such as:

Before deciding on a student loan refinance lender, compare options to make sure you’re getting the best rate you qualify for. In addition to interest rates, compare lenders’ repayment options and the flexibility they offer for borrowers who are struggling to make payments.

If Brazos denies your refinance application, the lender will . Depending on the reason, you may want to consider other lenders or need a co-signer.

NerdWallet recommends before you apply. This will let you know which lenders you may be eligible with, without affecting your credit.

Parent loan review

Brazos Parent Loan
Check Rate

on Brazos's website

Brazos Parent Loan

4.0

NerdWallet rating 
Check Rate

on Brazos's website

Fixed APR

2.95 - 5.65%

Variable APR

0.94 - 5.54%

Min. Credit Score

720

Pros

  • Borrowers can finance undergraduate and graduate degree programs.
  • Students do not have to attend college in Texas to qualify.

Cons

  • Available only to parent borrowers in Texas.

Brazos is best for parent loan borrowers who live in Texas and want to finance undergraduate or graduate education for their children.

Brazos Parent Loans are available to Texas residents whose children attend schools anywhere in the U.S. They can be used to finance the costs of undergraduate education, and unlike federal direct parent PLUS loans, can also pay for graduate and other professional degree costs.

Consider a parent loan only after your child has maxed out all federal student loan options and only if your own finances are strong. A will be your responsibility to pay unless your child refinances the debt with a private lender in their own name.

Brazos could improve by offering additional programs such as:

Before taking out a Brazos Parent Loan or any other parent student loan, your child should submit the Free Application for Federal Student Aid, known as the FAFSA, and max out their federal loan options. And make sure the loan payments won't stop you from reaching other financial goals, like saving for retirement.

» MORE:

Compare to make sure you’re choosing the right option and getting the best rate you qualify for. In addition to interest rates, look at lenders’ repayment alternatives and the flexibility they offer to borrowers who struggle to make payments. [h3] If you aren’t eligible for a [lender name] student loan

If Brazos denies your student loan application, the lender will Depending on the reason, you may want to consider or, if you haven’t already, try applying with a co-signer.

NerdWallet believes the best student loan is one you can repay at the lowest interest rate you can get. That’s why NerdWallet’s student loan ratings reward lenders that offer a variety of loan terms, limit their fees and penalties, and extend borrowers multiple options to avoid default. Points are also awarded for soft credit checks, underwriting transparency and other consumer-friendly features. Use these ratings as a guide, but we encourage you to shop around for the lowest interest rate you can qualify for. NerdWallet does not receive compensation for its reviews..

Frequently asked questions