Student Loan Refinance Lenders

Since interest rates are now lower, refinancing student loans has become an increasingly attractive option. Before proceeding with refinancing plans, be sure to consider potential risks carefully.

Refinancing consolidates all your existing student debt into one loan with new rates and terms, potentially altering repayment options such as income-driven plans and paths towards loan forgiveness.

Splash Financial

Splash Financial is a lender marketplace that connects student loan borrowers to banks and credit unions offering competitive interest rates, making their platform available for pre-qualifying rates without impacting credit scores. Furthermore, they offer a free refinancing calculator to assist students calculate monthly payments and potential savings. Currently partnered with PenFed and Laurel Road lenders but actively looking for additional lenders as partners.

Borrowers can choose from a range of terms and loan amounts with either fixed or variable interest rates, making Splash Financial loans accessible to undergraduate and graduate students, parents of PLUS loans for their children as well as parents taking out PLUS loans for themselves. Furthermore, no origination fees or prepayment penalties apply – though borrowers should keep in mind that interest rates and terms could change before final approval of their loans.

Before applying for a loan with Splash, borrowers should ensure they meet all of the minimum requirements set by their chosen lender. Requirements vary between lenders but usually involve being an U.S. citizen or permanent resident as well as possessing either a college degree or equivalent professional credential; some also may specify minimum income and debt-to-income ratio requirements or forbearance/discharge policies that borrowers should familiarize themselves with before proceeding with application.

Splash makes applying for loans easy! Simply visit their website and fill out an online application, providing basic details such as their email address, name, home address and date of birth as well as verification documents such as pay stubs or tax returns and loan servicer contact info. Splash will compare this data against that of lending partners before offering loans that match up.

Refinancing loans with Splash is also important because applicants could lose some benefits available through federal student loan refinancing such as deferment, forbearance and income-driven repayment – they should only make this decision if they can afford the sacrifice.


Credible is a marketplace established in 2012 that connects borrowers to lenders offering the best student loan refinancing rates. Their wide array of lender partners enables Credible to cater to individual borrower needs with competitive rates for student loan refinance refinancing. Their user-friendly website and application make Credible an efficient way for quick comparison. However, be mindful that lenders’ policies vary (e.g. cosigner release processes or forbearance processes), which may require further research.

Credible offers an easy and fast way to prequalify for loans by asking you for basic information about your school, income and expenses, debt you wish to refinance and the likelihood of approval. Credible does not charge a fee for browsing lenders or applying for loans but, should you decide to proceed, will require consenting to a hard credit pull that could potentially impact your score.

Credible does not set a minimum credit score requirement, however they recommend at least 670 for student loan refinancing and 700 for personal loans. They also indicate that applicants with limited or poor credit histories may still be able to qualify by adding a co-signer or cash flow reserve; additionally they offer an easy two to three minute application form that takes only seconds to fill out!

This user-friendly website offers users an accessible selection of loan products from 13 lenders. Users can utilize it to refinance both federal and private student loans as well as refinancing personal loans, credit cards, debt consolidation, debt settlement loans and consolidation. Furthermore, there’s even a tool that helps borrowers locate the optimal rate for them personally.

Credible is unique among loan refinancing companies by not charging any upfront or ongoing fees for its service, and by only working with lenders that don’t assess origination, service or prepayment penalties. Furthermore, Credible updates its website in real-time so borrowers have access to accurate quotes at all times.

Laurel Road

Laurel Road is an online lender offering competitive interest rates and flexible repayment plans, catering specifically to recent graduates and focusing on students in health care fields who wish to repay debt quickly. Furthermore, its lower medical loan interest rates make them an attractive option compared to other lenders.

For qualifying purposes, a minimum credit score of 660 will be necessary. To begin the application process, information such as your education, income and employment history as well as that of any co-signers is requested in addition to answering a few questions and performing a soft credit pull are needed in order to receive pre-approval for refinancing student loan refinance options. After pre-approval has been granted, your loan term can be selected before electronically signing all relevant documents on your dashboard account – your first payment due one month post disbursement of loan disbursed!

Laurel Road offers outstanding customer service and an intuitive website, including its terms and conditions as well as an interactive calculator to show how much money can be saved by refinancing student loans with them. Furthermore, when opening an auto-pay checking account with them you’ll get a discount of up to 0.25 percent!

Laurel Road offers competitive student loan refinancing rates at highly competitive interest rates, while also providing various repayment plans, such as Income-Based Repayment. KeyBank provides its loans, which are FDIC insured financial institutions backed by high customer satisfaction ratings and an A+ rating from Better Business Bureau.

Laurel Road does have some restrictions that may prevent some from applying. These include only accepting graduates with at least a bachelor’s degree. Furthermore, refinancing for Parent PLUS Loans – loans taken out on behalf of children by parents – isn’t available; however borrowers are permitted to remove their parents from these loans and make them their own.

Laurel Road offers a loan forgiveness program that is available to borrowers experiencing severe financial hardship such as unemployment, natural disaster or disability. The program can discharge either part or all of a borrower’s loan balance depending on their unique situation, with the amount determined by an Laurel Road forbearance specialist.


SoFi offers competitive rates and flexible terms, making student loan refinancing accessible. They have an easy online application process and live customer support available seven days a week; plus their extensive library contains loan calculators, articles and personalized advice from credentialed financial planners.

SoFi offers private student loans for undergraduate students, graduate students and parents, personal loans and mortgages as well as extra discounts on future loans such as mortgages or personal loans, career coaching services and unemployment protection to its members. SoFi prioritizes those with good credit scores when awarding loans; its member benefits thus include extra discounts on future mortgages or personal loans (such as personal or mortgages) as well as career coaching support and unemployment protection coverage.

SoFi performs a soft credit pull that does not impact your score to determine eligibility, while for full applications they run a hard credit check that could lower it. Once pre-approved, SoFi will present you with their loan offer which includes details such as loan amount, repayment terms and monthly payment amounts that meet your needs allowing you to choose what’s right for you.

SoFi has earned an outstanding reputation for customer service. Their rates are among the lowest in the industry and there are no application or origination fees; furthermore, they provide transparent information regarding fees and costs associated with loans as well as an extensive library of educational materials, including videos and articles about student loan refinancing.

SoFi has built up a stellar reputation for their student loan refinancing services, but their other financial products have fallen short. Their banking products received poor marks with the Better Business Bureau while its credit cards earned lower-than-average ratings on Trustpilot.

Laurel Road has long been a dominant force in the student loan refinancing market and has been featured as an advertiser with The White Coat Investor for over a decade. WCI readers have turned to them and reported they provide some of the lowest rates among companies; residents and fellows can even take advantage of Laurel Road’s special program which allows them to pay $100 each month during training! Laurel Road also provides unique features, including offering $100 payments while training.

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