7 Banks That Refinance Student Loans of January 2026
If you already have an account with a bank that refinances student loans, you could get discounts or lower rates by refinancing with your bank. But with student loan refinancing, your priority should be finding the lowest rate — even if that means straying from your current bank. Many of the best student loan refinance companies are online lenders.
Here are our picks for the best banks to refinance student loans.
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- 17 student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and consumer lending.
- Objective, comprehensive star-rating system assessing 41 categories and more than 50 data points across student loan origination and student loan refinance.
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Why trust NerdWallet
- 17 student loans lenders reviewed and rated by our team of experts.
- 10+ years of combined experience covering higher education and consumer lending.
- Objective, comprehensive star-rating system assessing 41 categories and more than 50 data points across student loan origination and student loan refinance.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Banks That Refinance Student Loans
Lender | NerdWallet editorial rating | Min. credit score | Fixed APR | Variable APR | Learn more |
|---|---|---|---|---|---|
4.5 /5 | 665 | 4.45-9.99% | 5.88-9.99% | Read Review on NerdWallet | |
3.5 /5 | Does not disclose | 6.99-16.39% | 7.89-17.39% | Read Review on NerdWallet |
Our pick for
Refinancing with flexible payment options
- Typical credit score of approved borrowers or co-signers: 760.
- Loan amounts: $5,000 to $500,000.
- Must have a degree: No, but must be within six months of graduation and have income or a job.
- Customizable payments and loan terms.
- Option to skip one payment every 12 months.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Loans aren't available in Nevada.
Our pick for
Refinancing with a brick-and-mortar, national bank
- Typical credit score of approved borrowers or co-signers: Does not disclose.
- Loan amounts: $10,000 to $75,000.
- Must have a degree: No.
- Interest rate discount for autopay is larger than most lenders offer.
- Borrowers can refinance without a degree.
- No flexible repayment options for struggling borrowers.
- You can't see if you’ll qualify and what rate you’ll get without a hard credit check.
PNC has branches in 29 states. Unlike the other brick-and-mortar banks that refinance student loans, it doesn’t offer a loyalty discount for existing customers. It does offer a 0.50% rate discount for any student loan refinance borrowers who set up automated payments from a checking or savings account — larger than the 0.25% autopay discount that other student loan refinance lenders offer.
- Typical credit score of approved borrowers or co-signers: Does not disclose.
- Loan amounts: $10,000 to $500,000.
- Must have a degree: No.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- You can refinance parent PLUS loans in your name.
- Loyalty discount: Borrowers with a Citizens Bank account when they apply get an additional 0.25% interest rate discount.
- Estate is still responsible for loans refinanced by parents if the borrower dies.
Our pick for
Refinancing with an online bank
- Typical credit score of approved borrowers or co-signers: 700+.
- Loan amounts: $5,000, up to your total outstanding loan balance.
- Must have a degree: Yes, an associate degree or higher.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Dedicated Student Loan Debt Specialist available for borrowers.
- No co-signer release available.
- Loan size minimum is higher than most lenders.
- Typical credit score of approved borrowers or co-signers: Did not disclose.
- Loan amounts: $5,000 - $500,000. Maximum loan limits subject to limits on total student loan debt.
- Must have a degree: Yes, at least an undergraduate degree.
- You can see if you'll qualify and what rate you'll get without a hard credit check.
- Does not discharge loans in cases of death or permanent disability.
- Doesn't allow biweekly payments via autopay.
Our pick for
Refinancing with a regional bank
- Typical credit score of approved borrowers or co-signers: 774.
- Loan amounts: $10,000 up to your total outstanding loan balance.
- Must have a degree: Yes, at least a bachelor’s degree.
- You are assigned a student loan advisor.
- You can refinance parent PLUS loans in your name.
- Payment postponement isn’t available for borrowers who return to school.
- The minimum amount to refinance is more than many lenders require.
- No co-signer release available.
Our pick for
Refinancing with a community bank
LendKey partners with community banks, as well as credit unions, to refinance student loans.
- Typical credit score of approved borrowers or co-signers: 751.
- Loan amounts: $5,000 to $300,000, depending on the higest degree earned.
- Must have a degree: Yes, at least an associate degree.
- Forbearance of 18 months for 15- and 20-year loan terms is longer than many lenders.
- You can see if you’ll qualify and what rate you’ll get without a hard credit check.
- Loans aren't available in Maine, Nevada, North Dakota, Rhode Island or West Virginia.
Community banks and credit unions originate LendKey loans, but LendKey acts as the servicer.
Banks that refinance student loans
Among banks that refinance student loans, some offer rate discounts to existing customers who have a checking or savings account. Others will lower your rate if you opt for automatic payments.
Some community banks also offer student loan refinancing. You can find them through LendKey, a marketplace that connects borrowers with community banks and credit unions.
Some online student loan refinance lenders are backed by banks. For example, ELFI is the student loan refinancing division of Tennessee-based SouthEast Bank.
» MORE: Banks that offer private student loans
Banks that don’t refinance student loans
Most big-name, national brick-and-mortar banks don’t refinance student loans, including:
Bank of America.
Chase.
U.S. Bank.
Capital One.
Wells Fargo.
What is student loan refinancing?
Student loan refinancing refers to switching private lenders with the goal of lowering your interest rate and acquiring new loan terms. It usually does not cost anything to refinance private student loans, and the savings can mean lower monthly payments and total interest cost.
Should I refinance my student loans with a bank?
Aim to find the loan with the lowest rate you qualify for. That may be from a bank you have an account with, especially if it offers you a discount or lower interest rate. It makes sense to refinance your student loan if you have a credit score in the mid to high 600s (or a co-signer who does) and have a stable income.
How do I refinance my student loans with a bank?
First, determine if student loan refinancing is right for you. If you have federal loans, you may want to think twice because refinancing federal loans waives your access to government programs like student loan forgiveness and income-driven repayment plans.
If you have private student loans, a strong credit score and a stable income, refinancing your student loans with a bank may be a good choice. Here are the steps to take:
Research lenders. Get estimates from multiple banks to determine which offers the best interest rate and terms. Most banks will allow you to pre-qualify and see your rate without impacting your credit score.
Complete paperwork. Plan to have documents verifying your graduation, income and residency to complete the application.
Wait for pay off. Once your refinance lender approves your new loan, it will pay off the debt to your current lender and you’ll make payments on your refinance loan moving forward.
» MORE: How to refinance student loans
Last updated on January 12, 2026
Frequently asked questions
Can any bank refinance student loans?
You can only refinance student loans with a bank that offers this product. Traditional brick-and-mortar banks that refinance student loans include PNC and Laurel Road. Online banks include SoFi.
Which banks refinance student loans?
Check with community banks, online banks and traditional banks to find those that offer student loan refinancing. PNC and Laurel Road are two traditional banks that refinance student loans. Online banks include SoFi. Your priority should be finding the best bank for student loan refinance with the lowest possible rate you qualify for, even if it’s not from your current bank.
Does Bank of America refinance student loans?
Bank of America does not refinance student loans. Other well-known, national banks that don’t offer this option include Chase Bank, U.S. Bank and Wells Fargo.
How we chose the best student loans
Our team of student loan experts follows an objective and robust methodology to rate lenders and pick the best.
17
Lenders reviewed
17
Lenders reviewed
We reviewed 17 banks, credit unions, and online lenders — including the top 10 by market share and search volume — plus lenders serving niche and nontraditional borrowers.
41
Features assessed
41
Features assessed
Each lender is evaluated across five weighted categories, covering dozens of features related to affordability, eligibility, consumer experience, flexibility, and application process.
50+
Data points analyzed
50+
Data points analyzed
Our team tracks and reassesses more than 50 data points, including APR ranges, fees, credit requirements, and borrower tools, through our annual survey to lenders.
Star rating categories
We evaluate more categories than competitors and carefully weigh how each factor impacts your experience.
5.0
Overall score
NerdWallet surveyed and reviewed 17 banks, credit unions and online lenders offering student loans and student loan refinancing. We included 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. Some lenders are NerdWallet partners, but this did not influence our selection of the winner.
We consider 41 features and more than 50 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 a wide range of 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.
Read more about our ratings methodologies for student loans and our editorial guidelines.
NerdWallet's Banks That Refinance Student Loans of January 2026
- Earnest Student Loan Refinance: Best for Refinancing with flexible payment options, Fixed APR: 4.45-9.99%
- PNC Student Loan Refinance: Best for Refinancing with a brick-and-mortar, national bank, Fixed APR: 6.99-16.39%
- SoFi® Student Loan Refinancing: Best for Refinancing with an online bank, Fixed APR: 4.24-9.99%
- ELFI Student Loan Refinance: Best for Refinancing with a regional bank, Fixed APR: 4.88-8.44%
- LendKey Student Loan Refinance: Best for Refinancing with a community bank, Fixed APR: 4.89-9.04%
- Citizens Student Loan Refinance: Best for Refinancing with a brick-and-mortar, national bank, Fixed APR: 5.73-10.29%
- Nelnet Bank Student Loan Refinance: Best for Refinancing with an online bank, Fixed APR: 4.99-9.98%