Student loan ratings
Student loan refinancing
The bottom line:
Nelnet Bank offers student loan refinancing. Its student loan refinancing is best for borrowers who may need wiggle room on payments.
Student loan refinancing review
- International students can apply with a co-signer who is a qualified U.S. citizen or permanent resident.
- You can see if you'll qualify and what rate you'll get without a hard credit check.
- Below-average customer support compared with other lenders.
- Doesn't allow biweekly payments via autopay.
Best for borrowers who may need wiggle room on payments.
Refinancing student loans through Nelnet Bank is a good option for borrowers who don't have strong enough credit to qualify independently but have a creditworthy co-signer. It's also a good fit for borrowers who might need flexibility on payments in the future.
Applicants with credit scores as low as 640 can be accepted if they apply with a co-signer who has a score of at least 680. It also offers longer-than-average forbearance periods, allowing borrowers to postpone payments for up to 12 months throughout their loan term.
Nelnet Bank at a glance
Generous forbearance policy.
Co-signer release option.
Longer-than-average forbearance periods.
How Nelnet Bank could improve
Nelnet Bank could improve by:
Assigning customers a dedicated student loan advisor.
Allowing biweekly payments via autopay.
Nelnet Bank student loan refinancing details
Before refinancing with Nelnet Bank
You can apply for a Nelnet Bank refinanced student loan on its website. Before deciding on a student loan refinance lender, compare multiple student loan refinance 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 borrowers who are struggling to make payments.
If you aren’t eligible to refinance with Nelnet Bank
If Nelnet Bank denies your refinance application, the lender will let you know why. Depending on the reason, you may want to consider other lenders or using a co-signer.
NerdWallet recommends prequalifying with multiple refinance lenders before you apply. This will let you know which lenders you may be eligible with, without affecting your credit.
STUDENT LOAN REFINANCE RATINGS METHODOLOGY
Our survey of more than 29 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.
Frequently asked questions
Nelnet Bank is a five-star student loan refinance lender based on NerdWallet's student loan rating system. Our ratings prioritize low interest rates and flexible repayment options that allow borrowers to repay loans faster and avoid default.
Borrowers must have at least a bachelor's degree or above to refinance with Nelnet Bank.
No. Nelnet Bank lends in all states.