Nelnet Bank Reviews: Student Loan Refinancing

Nelnet Bank refinancing is an option for borrowers who need a co-signer or who might need flexibility on payments in the future.
Cecilia ClarkSep 15, 2021

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Student loan ratings

Nelnet Bank
  • 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

Nelnet Bank Student Loan Refinance
Check Rate

on Nelnet Bank's website

Nelnet Bank Student Loan Refinance

5.0

NerdWallet rating 
Check Rate

on Nelnet Bank's website

Fixed APR

2.55 - 5.59%

Variable APR

1.95 - 5.63%

Min. Credit Score

640

Pros

  • 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.

Cons

  • Below-average customer support compared with other lenders.
  • Doesn't allow biweekly payments via auto-pay.

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 could improve by:

You can apply for a Nelnet Bank refinanced student loan on its website. Before deciding on a student loan refinance lender, compare multiple 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 Nelnet Bank denies your refinance application, the lender will . Depending on the reason, you may want to consider other lenders or using a co-signer.

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

How does this loan compare?

Nelnet Bank Student Loan Refinance
Laurel Road Student Loan Refinance
NerdWallet rating 
NerdWallet rating 
Check RateCheck Rate
Fixed APR

2.55 - 5.59%

Fixed APR

2.50 - 6.00%

Variable APR

1.95 - 5.63%

Variable APR

1.89 - 5.90%

Min. Credit Score

640

Min. Credit Score

660

Frequently asked questions