Best Student Loan Refinance Companies

While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.

See disclaimers at: https://www.splashfinancial.com/disclaimers/

Splash Financial, Inc. (NMLS #1630038), licensed by the DFPI under California Financing Law, license # 60DBO-102545

Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Products may not be available in all states. Rates and terms are subject to change at any point prior to application submission. The information you provide is an inquiry to determine whether Splash’s lending partners can make you a loan offer. To qualify, a borrower must be a U.S. citizen or other eligible status and meet lender underwriting requirements. Lowest rates are reserved for the highest qualified borrowers and require an autopay discount of 0.25%. Splash does not guarantee that you will receive any loan offers or that your loan application will be approved. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, creditworthiness, income and other factors. This information is current as of June 5, 2023. You should review the benefits of your federal student loan; it may offer specific benefits that a private refinance/consolidation loan may not offer. If you work in the public sector, are in the military or taking advantage of a federal department of relief program, such as income-based repayment or public service forgiveness, you may not want to refinance, as these benefits do not transfer to private refinance/consolidation loans.

¹Autopay Discount. Rates listed include a 0.25% autopay discount.

Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed APR options range from 4.96% (with autopay) to 11.24% (without autopay). Variable APR options range from 4.99% (with autopay) to 11.14% (without autopay). Variable rates are derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001).

²Payment Disclosure. Fixed loans feature repayment terms of 5 to 20 years. For example, the monthly payment for a sample $10,000 with an APR of 5.47% for a 12-year term would be $94.86. Variable loans feature repayment terms of 5 to 20 years. For example, the monthly payment for a sample $10,000 with an APR of 5.90% for a 15-year term would be $83.85.

Credit Pull Disclosure. To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Disclosures:

1. For information on the Federal Direct Consolidation program, visit https://studentaid.ed.gov/sa/repay-loans/consolidation. By refinancing your federal student loans through a private refinance loan program, you will forgo certain benefits and options currently available to you such as federal Income-Driven Repayment plans, deferment, forbearance, and loan forgiveness options.
2. If you choose a fixed rate option the rate will not increase or decrease for the life of the loan.
3. If you choose a variable rate option your rate will vary with the market based on the one-month London Interbank Offered Rate (LIBOR) as published by Reuters on its Reuters Screen LIBOR01.
4. 10-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 7.37% will make 120 monthly payments of $354.14 for an estimated total in payments of $42,496.80. 20-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 8.00% will make 240 monthly payments of $250.92 for an estimated total in payments of $60,220.80.
5. 10-year variable rate example: a borrower with a $30,000 loan and a variable APR of 5.50% will make 120 monthly payments of $325.55 for an estimated total in payments of $39,066.00. 20-year variable rate example: a borrower with a $30,000 loan and a variable APR of 6.123% will make 240 monthly payments of $217.07 for an estimated total in payments of $52,096.80.
6. Borrower must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month, and may therefore be suspended during a hardship forbearance period.

Information advertised valid as of 12/14/2020.

COMMERCE BANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

1. Terms and conditions apply. Loan products, terms, and benefits displayed on this website may be modified or discontinued at any time without notice. Your rate will be determined after a review of your application and credit profile. You must be either a U.S. citizen or Permanent Resident in an eligible state, must have graduated from an eligible school, and meet Navy Federal Credit Union’s credit and income requirements to qualify for a loan. Additionally, in order to receive a loan from Navy Federal Credit Union, you must be a member of Navy Federal Credit Union. If you are not a member of Navy Federal Credit Union, you must apply and become a member during the loan application process. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate.
2. If you choose and receive a variable rate loan, your rate may change once a quarter. The variable rate is based on the average of a publicly available index, the 3-month LIBOR, as published in the Wall Street Journal on the first of each month for the last three months immediately preceding the quarterly adjustment date. If the first day of the month is not a business day, the preceding business day will be used. Your rate will be calculated each quarter by adding the 3-month LIBOR to a margin that is assigned to your loan upon loan approval. All loans are subject to an interest rate floor based on term: 5 year: 1.43%, 10 year: 2.99%, 15 year: 3.24% and an interest rate cap of 18.00%.
3. If you enroll in automatic monthly payments from a personal checking or savings account to pay principal and interest amounts that are due, the rate will be reduced by 0.25%, subject to the floor rate. This rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments.
4. The minimum monthly payment is $50.00 or the unpaid balance of your loan, whichever is less.

Disclaimers

Disclaimers

Disclaimers

Disclaimers

Application and Solicitation Disclosures

Disclaimer

1. Terms and conditions apply. Loan products, terms, and benefits displayed on this website may be modified or discontinued at any time without notice. Your rate will be determined after a review of your application and credit profile. You must be either a U.S. citizen or Permanent Resident in an eligible state, must have graduated from an eligible school, and meet Navy Federal Credit Union’s credit and income requirements to qualify for a loan. Additionally, in order to receive a loan from Navy Federal Credit Union, you must be a member of Navy Federal Credit Union. If you are not a member of Navy Federal Credit Union, you must apply and become a member during the loan application process. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate.
2. If you choose and receive a variable rate loan, your rate may change once a quarter. The variable rate is based on the average of a publicly available index, the 3-month LIBOR, as published in the Wall Street Journal on the first of each month for the last three months immediately preceding the quarterly adjustment date. If the first day of the month is not a business day, the preceding business day will be used. Your rate will be calculated each quarter by adding the 3-month LIBOR to a margin that is assigned to your loan upon loan approval. All loans are subject to an interest rate floor based on term: 5 year: 1.43%, 10 year: 2.99%, 15 year: 3.24% and an interest rate cap of 18.00%.
3. If you enroll in automatic monthly payments from a personal checking or savings account to pay principal and interest amounts that are due, the rate will be reduced by 0.25%, subject to the floor rate. This rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is cancelled, any increase will take the form of higher payments.
4. The minimum monthly payment is $50.00 or the unpaid balance of your loan, whichever is less.

Application and Solicitation Disclosures

Disclosures:

1. For information on the Federal Direct Consolidation program, visit https://studentaid.ed.gov/sa/repay-loans/consolidation. By refinancing your federal student loans through a private refinance loan program, you will forgo certain benefits and options currently available to you such as federal Income-Driven Repayment plans, deferment, forbearance, and loan forgiveness options.
2. If you choose a fixed rate option the rate will not increase or decrease for the life of the loan.
3. If you choose a variable rate option your rate will vary with the market based on the one-month London Interbank Offered Rate (LIBOR) as published by Reuters on its Reuters Screen LIBOR01.
4. 10-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 7.37% will make 120 monthly payments of $354.14 for an estimated total in payments of $42,496.80. 20-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 8.00% will make 240 monthly payments of $250.92 for an estimated total in payments of $60,220.80.
5. 10-year variable rate example: a borrower with a $30,000 loan and a variable APR of 5.50% will make 120 monthly payments of $325.55 for an estimated total in payments of $39,066.00. 20-year variable rate example: a borrower with a $30,000 loan and a variable APR of 6.123% will make 240 monthly payments of $217.07 for an estimated total in payments of $52,096.80.
6. Borrower must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month, and may therefore be suspended during a hardship forbearance period.

Information advertised valid as of 12/14/2020.

COMMERCE BANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.

Education Loan Finance is a nationwide student loan debt consolidation and refinance program offered by Tennessee based SouthEast Bank. ELFI is designed to assist borrowers through consolidating and refinancing loans into one single loan that effectively lowers your cost of education debt and/or makes repayment very simple. Subject to credit approval. See Terms & Conditions. Interest rates current as of 9-22-2022. The interest rate and monthly payment for a variable rate loan may increase after closing, but will never exceed 9.95% APR. Interest rates may be different from the rates shown above and will be based on the term of your loan, your financial history, and other factors, including your cosigner’s (if any) financial history.

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.

(1)The 0.25% auto-pay interest rate reduction applies as long as the borrower or cosigner, if applicable, enrolls in auto-pay and authorizes our loan servicer to automatically deduct your monthly payments from a valid bank account via Automated Clearing House (“ACH”). The rate reduction applies for as long as the monthly payment amount is successfully deducted from the designated bank account and is suspended during periods of forbearance and certain deferments. Variable rates may increase after consummation.

(2)This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.

Information advertised valid as of 3/1/2023. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.

Application and Solicitation Disclosures

While Savingforcollege.com strives to keep the information up to date, the lender rates, terms and other information are subject to change at any time.

See disclaimers at: https://www.splashfinancial.com/disclaimers/

Splash Financial, Inc. (NMLS #1630038), licensed by the DFPI under California Financing Law, license # 60DBO-102545

Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Products may not be available in all states. Rates and terms are subject to change at any point prior to application submission. The information you provide is an inquiry to determine whether Splash’s lending partners can make you a loan offer. To qualify, a borrower must be a U.S. citizen or other eligible status and meet lender underwriting requirements. Lowest rates are reserved for the highest qualified borrowers and require an autopay discount of 0.25%. Splash does not guarantee that you will receive any loan offers or that your loan application will be approved. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, creditworthiness, income and other factors. This information is current as of June 5, 2023. You should review the benefits of your federal student loan; it may offer specific benefits that a private refinance/consolidation loan may not offer. If you work in the public sector, are in the military or taking advantage of a federal department of relief program, such as income-based repayment or public service forgiveness, you may not want to refinance, as these benefits do not transfer to private refinance/consolidation loans.

¹Autopay Discount. Rates listed include a 0.25% autopay discount.

Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed APR options range from 4.96% (with autopay) to 11.24% (without autopay). Variable APR options range from 4.99% (with autopay) to 11.14% (without autopay). Variable rates are derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001).

²Payment Disclosure. Fixed loans feature repayment terms of 5 to 20 years. For example, the monthly payment for a sample $10,000 with an APR of 5.47% for a 12-year term would be $94.86. Variable loans feature repayment terms of 5 to 20 years. For example, the monthly payment for a sample $10,000 with an APR of 5.90% for a 15-year term would be $83.85.

Credit Pull Disclosure. To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Annual Percentage Rate (APR) Calculations: The lowest APR is based on the following assumptions: a loan of $20,000 made in a single disbursement, an Immediate Repayment Plan and a repayment term of 60 months, monthly on time payments of $373.86, a fixed periodic interest rate of 5.21%, and total payments of $22,431.70. The borrower in this sample qualified for a 0.25% Direct Debit benefit and a 0.35% Loyalty Benefit for the entirety of the repayment period.

Annual Percentage Rate (APR) Calculations: The highest APR is based on the following assumptions: a loan of $20,000 made in a single disbursement, an Immediate Repayment Plan and a repayment term of 240 months, monthly on time payments of $185.90, a fixed periodic interest rate of 9.46%, and total payments of $44,616.99. The borrower in this sample did not qualify for any interest rate benefits during the repayment period. This APR is an estimate and may differ from the actual rates received.

NOTE: Subject to aggregate loan limits.

Applicants, including co-signers, are subject to credit qualifications, completion of an application and credit agreement, and verification of application information. PHEAA uses applicant(s) FICO score(s) to determine eligibility and interest rates. Higher credit scores may mean an applicant is offered a lower interest rate.

PHEAA reserves the right to discontinue all programs or benefits without prior notice.

2 Minimum loan amounts are based on your loan term. A term of 5, 7, or 10 years has a $5,000 minimum loan amount. A term of 15 years has a $10,000 minimum loan amount. A term of 20 years has a $20,000 minimum loan amount.

Disclosures:

1. For information on the Federal Direct Consolidation program, visit https://studentaid.ed.gov/sa/repay-loans/consolidation. By refinancing your federal student loans through a private refinance loan program, you will forgo certain benefits and options currently available to you such as federal Income-Driven Repayment plans, deferment, forbearance, and loan forgiveness options.
2. If you choose a fixed rate option the rate will not increase or decrease for the life of the loan.
3. If you choose a variable rate option your rate will vary with the market based on the one-month London Interbank Offered Rate (LIBOR) as published by Reuters on its Reuters Screen LIBOR01.
4. 10-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 7.37% will make 120 monthly payments of $354.14 for an estimated total in payments of $42,496.80. 20-year fixed rate example: a borrower with a $30,000 loan and a fixed APR of 8.00% will make 240 monthly payments of $250.92 for an estimated total in payments of $60,220.80.
5. 10-year variable rate example: a borrower with a $30,000 loan and a variable APR of 5.50% will make 120 monthly payments of $325.55 for an estimated total in payments of $39,066.00. 20-year variable rate example: a borrower with a $30,000 loan and a variable APR of 6.123% will make 240 monthly payments of $217.07 for an estimated total in payments of $52,096.80.
6. Borrower must enroll in auto debit through Sallie Mae. The rate reduction benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month, and may therefore be suspended during a hardship forbearance period.

Information advertised valid as of 12/14/2020.

COMMERCE BANK RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE.