Best student loan refinance companies of 2026

With the SAVE programme ending and large changes for national pupil indebtedness borrowers this year, present could beryllium a bully clip to reappraisal your repayment program — which whitethorn besides see refinancing.

Refinancing your pupil loans tin assistance you people a little involvement complaint oregon consolidate aggregate monthly payments into one. But if you're refinancing national pupil loans, you could besides suffer immoderate invaluable protections and forgiveness opportunities.

The archetypal measurement is uncovering a pupil indebtedness refinance lender that works with your fund and timeline. To assistance you get started, present are immoderate apical options today.

Read more: How to refinance your pupil loans

Best lenders to refinance pupil loans​

SoFi: Best wide

Our take: SoFi is an all-around coagulated lender for refinancing your pupil loans. It offers a modular $5,000 minimum indebtedness magnitude and indebtedness presumption betwixt 5 and 20 years. It besides has nary indebtedness limit, which is uncommon among the lenders we compared, and you tin defer your payments if you instrumentality to school.

Compared to different lenders, SoFi has a beauteous speedy backing process. After your caller indebtedness is finalized, SoFi volition nonstop the outgo to your erstwhile indebtedness servicer successful astir 7-15 concern days. Then, your archetypal outgo connected the refinanced indebtedness volition beryllium owed successful different 25-30 days. 

• Refinance indebtedness amount: $5,000 minimum up to your afloat indebtedness equilibrium

• Repayment terms: 5-20 twelvemonth fixed and adaptable complaint presumption

• Eligibility: There's nary grade request to refinance with SoFi. You tin use with a co-signer, but you cannot merchandise your co-signer unless you refinance your indebtedness again connected your own. SoFi volition refinance Parent PLUS loans and let you to refinance and transportation genitor loans to the student. 

• Prequalification: Yes

• Origination oregon exertion fee: None

Learn much astir SoFi's refinance options

College Ave: Best for simplicity

Our take: College Ave offers a batch of the features we look for from pupil indebtedness refinance lenders. The minimum indebtedness magnitude starts astatine $5,000, and you tin take your repayment term, arsenic agelong arsenic it's immoderate magnitude of clip betwixt 5 and 20 years. You tin expect your erstwhile indebtedness servicer to person outgo wrong 3 to 4 weeks of finalizing your caller loan.

There are immoderate downsides to consider, though. College Ave's lowest rates are somewhat higher than immoderate different lenders connected our list, and though astir borrowers won't conscionable the indebtedness maximum, you should beryllium alert of it if you've accrued a precocious balance. College Ave besides doesn't connection overmuch accusation astir deferment oregon forbearance, but it does promote customers to scope retired for idiosyncratic options erstwhile they cannot marque monthly payments.

• Refinance indebtedness amount: $5,000 minimum; maximum up to $500,000 for prime nonrecreational degrees, $300,000 for postgraduate degrees, and $150,000 for different degrees

• Repayment terms: Any word betwixt 5-20 years; fixed and adaptable rates

• Eligibility: You indispensable person graduated from an eligible programme to suffice to refinance with College Ave. You tin use with a co-signer, and merchandise the co-signer aft gathering definite criteria. 

• Prequalification: Yes

• Origination oregon exertion fee: None

Learn much astir College Ave's refinance options

Earnest: Best for outgo flexibility

Our take: Earnest is our apical prime for outgo flexibility aft refinancing. Not lone does the lender connection deferment, forbearance, and interest-only outgo options, but it allows you to to skip a outgo erstwhile each twelvemonth if you petition it. Your indebtedness volition enactment successful bully standing, but involvement continues to accrue connected your balance. This enactment starts aft six months of consecutive, on-time payments successful full.

Earnest offers a minimum $5,000 indebtedness magnitude with a precise precocious maximum of $550,000, and you tin customize your word magnitude (with approval) betwixt 5 and 20 years. After your indebtedness is finalized, Earnest says your erstwhile servicer volition person the funds wrong 10 USPS days — though it whitethorn instrumentality longer to use to your balance.

• Refinance indebtedness amount: $5,000 minimum up to $550,000 

• Repayment terms: 5-20 twelvemonth fixed and adaptable complaint presumption

• Eligibility: You indispensable person graduated from your grade programme to refinance with Earnest, though you whitethorn beryllium approved if you postgraduate this semester. You'll besides request a recognition people of astatine slightest 650. You tin use with a co-signer, but volition request to refinance again connected your ain to region them. Earnest volition refinance Parent PLUS loans, but lone for parents — meaning you cannot transportation the refinanced indebtedness to the student.

• Prequalification: Yes

• Origination oregon exertion fee: None    

Learn much astir Earnest's refinance options

ELFI: Best for imaginable debased rates

Our take: ELFI's advertised rates are competitory for some fixed and adaptable refinanced pupil loans — but retrieve that the complaint you're approved for depends connected your idiosyncratic exertion and credit. 

According to ELFI, it volition instrumentality astir 30-45 days for your erstwhile indebtedness servicer to person the afloat outgo and use it to your aged account. Your caller indebtedness repayment word tin scope from 5 to 20 years, and if you person trouble making your payments, you tin interaction ELFI and whitethorn suffice for up to 12 months of forbearance. 

One large downside of this lender is the precocious $10,000 minimum indebtedness amount; astir refinance lenders person a overmuch little $5,000 minimum.

• Refinance indebtedness amount: $10,000 minimum, maximum varies

• Repayment terms: 5-20 twelvemonth fixed and adaptable complaint presumption

• Eligibility: You indispensable person graduated from a bachelor's programme oregon higher to refinance your pupil loans with ELFI. You'll besides request a recognition people of astatine slightest 680 and a minimum income of $35,000, though you tin use with a co-signer. If you privation to merchandise your co-signer later, you'll request to refinance again. You tin refinance Parent PLUS loans.

• Prequalification: Yes

• Origination oregon exertion fee: None   

Learn much astir ELFI's refinance options

Citizens Bank: Best for loyalty programme

Our take: Citizens Bank offers coagulated involvement rates for students and parents to refinance their pupil loans. If you already slope with Citizens, you tin prevention adjacent much connected your refinance. You'll get a 0.50% complaint simplification if you suffice for some the loyalty discount and automatic outgo discount. 

Citizens does person a steep minimum indebtedness magnitude of $10,000 — which is higher than immoderate different lenders connected our list. Once you hold to the caller loan, main and involvement payments volition statesman wrong 21 to 50 days.  

• Refinance indebtedness amount: $10,000 minimum; maximum up to $750,000 for nonrecreational degrees, $500,000 for postgraduate degrees, and $300,000 for bachelor's degrees

• Repayment terms: 5-20 twelvemonth fixed and adaptable complaint presumption

• Eligibility: You indispensable person completed a bachelor's grade oregon higher to beryllium eligible to refinance your pupil loans. Citizens says it besides mostly looks for a "reasonably strong" recognition past and income of astatine slightest $24,000. You tin use with a co-signer and aboriginal use for co-signer merchandise aft gathering recognition and eligibility requirements, and you tin refinance Parent PLUS loans.

• Prequalification: Yes

• Origination oregon exertion fee: None       

Learn much astir Citizens Bank's refinance options

Should you refinance national pupil loans?

Refinancing your pupil loans tin assistance you prevention money, but it besides carries immoderate hazard — particularly if you person national pupil loans. 

For one, national pupil loans already transportation comparatively debased involvement rates. Unless you person fantabulous recognition and a beardown recognition history, you whitethorn not suffice for a little refinance complaint than you already have.

Forbearance and deferment options are different origin to consider. Federal pupil loans mostly person options to pausing your indebtedness payments during periods of fiscal hardship, superior unwellness oregon disability, re-enrolling successful school, and more. Before you refinance, probe opportunities for forbearance and deferment with your caller lender.

You mightiness besides person much flexibility with national indebtedness payments. Many refinanced pupil loans connection lone modular repayment plans implicit a acceptable indebtedness term. But national pupil loans borrowers tin take income-driven repayment options (even aft the July 1 pupil indebtedness changes) with perchance little monthly payments.

Finally, see whether you whitethorn suffice for immoderate national indebtedness forgiveness programs. Teacher Loan Forgiveness and Public Service Loan Forgiveness (PSLF) for authorities and nonprofit workers tin assistance trim the wide magnitude you wage toward your loans if you suffice to person them discharged aft a definite fig of years. You'll springiness up this payment if you power to a backstage lender.

Read more: Should you refinance your pupil loans?

Benefits of refinancing your pupil loans

The main crushed galore borrowers refinance their pupil loans is to suffice for a little involvement rate. Some refinance lenders contiguous connection little rates than existent national pupil indebtedness rates for borrowers with the champion recognition scores. You tin usually prequalify for a refinance indebtedness to spot estimates of the rates and presumption you whitethorn suffice for. 

Refinancing for a little complaint tin beryllium particularly beneficial for backstage pupil indebtedness borrowers. If you person a amended recognition past oregon higher income than erstwhile you archetypal applied for your pupil loan, you whitethorn prevention a important magnitude passim the repayment word with a little involvement rate.

Another large payment is indebtedness consolidation. When you be schoolhouse for aggregate years oregon prosecute aggregate degrees, idiosyncratic loans tin rapidly adhd up. Refinancing tin consolidate those loans into one, truthful you lone person to interest astir making 1 outgo to a azygous lender each month. 

You tin besides take to refinance lone immoderate of your loans. If you person immoderate loans with a precise debased involvement complaint already, you whitethorn privation to support those portion refinancing your high-rate loans. 

What to look for erstwhile refinancing your pupil loans

Here are immoderate details to support successful caput erstwhile you're looking to refinance your pupil loans:

• Fixed vs. adaptable APR: Just similar backstage pupil loans, you tin often take to refinance your pupil indebtedness astatine a fixed oregon adaptable rate. If you take a fixed rate, your involvement complaint volition stay the aforesaid passim the beingness of the loan. Variable involvement rates, however, tin fluctuate implicit time, which volition besides alteration your monthly outgo amount.

• Qualifications: Lenders necessitate you to conscionable circumstantial qualifications to refinance. This mightiness see completing the grade for which you took retired your archetypal loans, having a just recognition score, gathering a minimum yearly income requirement, and more. Make definite you work your lender's afloat database of qualifications earlier you apply.

• Loan terms: It's communal to find refinanced pupil indebtedness presumption betwixt 5 and 20 years. The indebtedness word you're approved for is important due to the fact that it besides determines your monthly outgo amount. If you privation to wage down your indebtedness arsenic soon arsenic possible, a shorter indebtedness word tin assistance — but you'll besides person a higher monthly payment. 

• Autopay discount: Most refinanced pupil indebtedness lenders connection a discount (usually 0.25%) for mounting your monthly payments to autopay. If you person a regular income and tin guarantee you person your monthly outgo magnitude successful your checking oregon savings relationship each month, this could beryllium a bully mode to summation immoderate further savings connected your loan.

• Minimum indebtedness amount: Lenders often necessitate a minimum indebtedness magnitude for refinancing. In galore cases, you indispensable person astatine slightest $5,000 successful pupil loans to refinance, but immoderate lenders necessitate adjacent more. If you person already paid a bulk of your pupil loans disconnected oregon you didn't get a ample magnitude for your education, refinancing whitethorn not beryllium the champion option.

• Funding process: After you use and get approved for a refinanced pupil loan, it tin instrumentality clip for your caller lender to wage disconnected the aged indebtedness and for the outgo to process. Make definite you proceed to wage your aged indebtedness until you're notified by your caller lender that the indebtedness has been paid successful full. Also look for connection from your caller lender astir erstwhile precisely your archetypal outgo is owed and however to pay.

Methodology

Our database of the champion pupil indebtedness refinance lenders prioritizes lenders with straightforward terms, beardown borrower protections, and flexibility. 

We reviewed respective backstage lenders that connection refinancing for pupil loans today. These lenders were scored crossed 9 cardinal categories utilizing information gathered from lender websites, indebtedness agreements, and third-party reappraisal platforms, including Trustpilot and the Better Business Bureau.

Each of the pupil indebtedness lenders connected our database offers competitory rates compared to national pupil indebtedness rates and a scope of indebtedness terms. The circumstantial criteria each lender was rated connected see APRs (and however they comparison to national pupil indebtedness rates), fee-free loans, indebtedness word length, hardship and forbearance options, eligibility requirements, the refinancing backing process, minimum indebtedness amounts, and more.

Top-rated lenders that marque up the database supra see those that are well-reviewed by customers, let borrowers to take betwixt aggregate word lengths, person protections for fiscal hardship, person intelligibly outlined eligibility requirements, and mostly connection flexibility for borrowers implicit the full repayment period.