Best Student Loan Refinancing Company

Student loans are one of the most complicated financial products in existence. This is especially true if you’re trying to refinance them, which can be confusing and overwhelming. It’s important to know what you’re getting into when looking for a student loan refinance company because there are so many out there. The following list will help you decide which is best for your situation:

Best Student Loan Refinancing Company

Best Student Loan Refinancing Company

Student loan refinancing companies can help you lower your monthly payment, pay off your student loans faster and save money in the process. But how do you know which company is right for you?

Whether you need to refinance or consolidate multiple student loans, we’ve got a list of the best options out there. Here’s a rundown on each type of student loan refinancing:

  • Refinancing
  • Consolidation
  • Forgiveness

1. SoFi

SoFi is a private student loan refinance company that offers fixed and variable interest rates on personal loans from $5,000 to $100,000. If you have student loans with other lenders, SoFi can help you refinance them as well.

To qualify for a SoFi student loan refinancing rate, you’ll need to be:

  • At least 18 years old
  • A U.S citizen or permanent resident who has lived in the U.S for at least two years by the time of application (three for military service)
  • In good standing with your current lender/loan servicer

2. Discover Student Loans

  • Discover Student Loans offers refinancing for private student loans, Stafford loans, and Parent PLUS loans.
  • Discover Student Loans also offers a student loan consolidation program.
  • Discover Student Loans offers a 0.25% interest rate reduction for automatic payments.

3. Citizens Bank

Citizens Bank offers a student loan refinancing option that is slightly more expensive than the average student loan refinance, but it’s still a good choice. Citizens Bank offers a low fixed rate of 2.25% APR for the life of the loan, which is slightly lower than some other lenders’ rates. They also offer fixed-rate loans up to $250K and variable rates on loans between $50K and $100K (maximum amount varies by state).

The drawbacks are that you’ll need at least good credit (660+) to qualify for this deal and there is no pre-payment penalty if you want to pay off your balance early; however, these aren’t deal breakers compared with similar deals offered by other lenders.

4. College Ave

College Ave is an excellent choice for student loan refinancing because of their great customer service, online experience, and reputation. Their customer service includes 24/7 live chat support and a phone number that you can call at anytime. They also have a 100% guarantee on all loans, which means if something goes wrong then they will refund the difference between your current rate and new rate. College Ave has been in business since 2002 so they know what they are doing when it comes to making sure students get the best rates possible.

College Ave has a great online experience due to its easy-to-use tools and guides that help you through every step of obtaining a student loan refinance quote from them! The company also provides free access to all federal education loans through their website so that prospective clients can see their progress before signing up for service with College Ave itself (which makes sense since it’s not an agency).

5. Earnest

Earnest is a student loan refinance company that offers the ability to refinance private student loans.

Earnest has a 4.3/5 rating on TrustPilot and an A+ rating with the BBB. The company also earned an A+ rating from Bankrate in 2016 and 2017, as well as being rated “Best in Customer Service” by LendingTree in 2017.

Earnest offers a free calculator that can help you determine whether refinancing your loans makes sense for you based on your individual situation.

6. LendKey

LendKey is a non-profit student loan refinancing company. LendKey offers fixed rates as low as 3.90% APR and variable rates between 2.95% and 6.94%.

LendKey is a good option for borrowers who want to refinance their student loan with a non-profit lender, or who are looking for an alternative to other lenders that offer lower rates.

7. CommonBond

CommonBond is a student loan refinance company that offers a wide range of student loan refinancing options. It’s good option for borrowers who want to refinance their student loans, especially if they want a lower interest rate.

CommonBond features:

  • A variety of fixed, variable and hybrid rates
  • Refinancing options for both private and federal loans
  • Student debt assistance services

8. PenFed Credit Union

PenFed Credit Union is one of the best student loan refinancing companies. It has a wide variety of student loan refinancing options that can be tailored to your needs.

PenFed offers several different loans for student loan refinancing, including:

  • VA loans for veteran members
  • Federal Parent PLUS Loans
  • Student loans from other lenders (not limited to Federal Direct Loans)

It also has a low interest rate, which has been as low as 2.00% APR with no origination fees.


If you have student loans and are looking for a way to lower your monthly payment, then consider refinancing. A good place to start is by comparing rates from multiple lenders online. You can do this at sites like SoFi and Earnest, which offer free and low-cost options to refinance federal loans.

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