7 Best Student Loan Refinance Companies – Reviews & Comparison
At first, most student loan refinance lenders may seem nearly identical. But when you look closely, the fine details in their loan programs can have a big impact on how simple the process is and how manageable repayment becomes.
Some lenders offer helpful features like cosigner release, which lets you take full control of the loan after making a set number of timely payments — a huge relief for anyone hesitant about cosigning. Others allow spousal loan consolidation, combining both partners’ loans into one more affordable monthly payment. You’ll also find differences in deferment and forbearance choices, as well as unique discounts and interest rate benefits that can lower your overall cost.
Because refinancing your student loans is a long-term financial decision, comparing lenders carefully is essential. Taking the time to understand each option ensures you choose the refinancing company that best supports your financial goals.
Best Student Loan Refinance Companies
Among the most reputable and highly rated student loan refinance lenders, several companies stand out for their competitive interest rates, flexible repayment terms, strong customer support, borrower-friendly perks, and positive user feedback.
Each lender brings something unique to the table, whether it’s exceptional benefits, standout customer service, or great rates. While many perform well in specific areas, our top recommendation delivers the best overall value for the widest range of borrowers.
1. Best Overall: Credible
Credible isn’t actually a lender — it’s an online marketplace that lets you compare refinance offers from multiple partnered lenders through one simple application.
That convenience is exactly what makes it our top pick. When you’re trying to secure the best student loan refinancing deal, speed matters. Credible helps you view a range of offers quickly, without the hassle of contacting each lender one by one.
Another major advantage is privacy and credit protection. Credible does not pass your personal information directly to lenders during the comparison stage, and it uses a soft credit check, meaning your credit score stays untouched while you explore your options.
If you decide to move forward with one of the offers, you can complete your application and receive a final decision in as little as one business day.
Key features include:
- Flexible income and borrower eligibility requirements
- Repayment terms ranging from 5 to 20 years
- Ability to refinance undergraduate, graduate, parent PLUS, and private loans
- Attractive interest rates, with variable APRs starting near 2.00%
- Minimum refinance amount starting at $7,500
2. Best for Personalized Service: Education Loan Finance (ELFI)
Education Loan Finance (ELFI) may not offer a long list of perks, and it doesn’t provide a cosigner release option — but where it truly shines is in customer support. Borrowers consistently rate ELFI highly because of its exceptional, hands-on service.
A standout feature is ELFI’s approach to guidance. Each borrower is paired with a knowledgeable personal loan advisor who remains available throughout the entire refinancing journey. Whether you prefer to call, text, or email, your advisor is there to walk you through questions about your application, loan terms, or anything else that comes up even after refinancing is complete.
This strong commitment to one-on-one support has earned ELFI a spot among the top-rated refinance lenders year after year.
Key features:
- Up to 12 months of forbearance for financial hardship or medical issues
- $15,000 minimum loan balance required
- Repayment terms ranging from 5 to 20 years
- Manageable minimum income requirement of $35,000 per year
- Variable interest rates starting below 2.00% APR
- Minimum FICO score of 680
3. Best for Bigger Loan Balances: Earnest
Earnest is a strong choice for borrowers carrying large or multiple student loans thanks to its flexible refinancing options, thoughtful underwriting, and no maximum loan limit.
Whether you have hefty graduate or professional school debt on top of undergraduate loans, Earnest allows you to refinance your entire balance in one place. This is especially helpful for borrowers seeking a simplified repayment plan and lower overall costs.
Another major advantage is Earnest’s more personalized underwriting process. Instead of focusing only on your credit score, the company reviews your full financial habits — including how consistently you save, how well you manage monthly expenses, and whether you’re building long-term stability through retirement accounts. This holistic approach makes it easier for applicants with moderate income or imperfect credit to qualify.
Key features:
- 0.25% interest rate discount for enrolling in autopay
- Ability to choose your monthly payment and customize your term and rate around it
- Highly flexible repayment options not commonly offered elsewhere
- Refinance loan balances starting from $2,000
- Variable APRs beginning below 2.00%
- Minimum 650 FICO score required
4. Best for Financial Hardship Options: RISLA
RISLA is known for offering some of the strongest borrower protections in the student loan refinancing space. One of its standout features is the ability to defer payments for up to 24 months during periods of financial hardship — a longer safety net than what most refinance lenders provide. This can be especially valuable for borrowers working in fields with unpredictable income.
What truly sets RISLA apart, however, is its income-based repayment (IBR) option, which is rarely offered by private lenders. If you experience financial difficulties, you can lower your payments to 15% of your monthly income and extend repayment over 25 years. This kind of support mirrors federal income-driven repayment plans, making RISLA an exceptional choice for borrowers who want extra protection during uncertain times.
Key features:
- Refinance amounts from $7,500 up to $250,000, depending on degree level and field
- Refinancing available for undergraduate, graduate, and parent PLUS loans (excluding loans from for-profit schools)
- 0.25% interest rate discount for enrolling in autopay
- Minimum 680 FICO score required
- Loan terms ranging from 5 to 15 years
- Maximum interest rates typically capped around 7%
5. Best Value-Added Products and Services: SoFi
SoFi — short for Social Finance — is one of the most recognized names in student loan refinancing, and for good reason. It consistently ranks among the top lenders thanks to its combination of competitive rates, flexible repayment choices, and a wide range of member benefits.
Borrowers appreciate that SoFi goes beyond refinancing by offering meaningful support tools such as unemployment protection, career coaching, and free access to financial planners. These extras make managing your loan and overall financial life easier and more secure.
On top of refinancing, SoFi provides a full suite of financial services, including online checking and savings accounts, personal loans, credit cards, and an investment platform with commission-free trading. The company’s SoFi Points rewards program ties everything together by giving you points for everyday financial actions — even something as simple as checking your credit score. These points can be redeemed to help reduce eligible SoFi loan balances.
Key features:
- Fast, simple online preapproval process
- Freedom to customize your repayment plan
- Competitive interest rates
- Deferment options available for graduate students
- Minimum 650 FICO score required
- 0.25% discount for autopay enrollment
6. Best for Spousal Loan Consolidation: Splash Financial
Splash Financial works as an online marketplace, similar to Credible. You submit a single application, compare offers from multiple lenders, and then select the bank or credit union that provides the best interest rate and repayment terms for your situation.
What makes Splash truly unique is its spousal loan refinancing option — something very few lenders offer. Married couples can combine their student loans into one joint loan, which can be especially helpful for households where partners have different income levels. Consolidating into one payment can make budgeting easier and help balance monthly cash flow.
Key features:
- Special refinancing terms for medical residents, with payments as low as $100 per month during residency and for up to six months afterward
- Cosigner release available after 12 consecutive on-time payments
- Ability to refinance undergraduate, graduate, parent PLUS, and private loans
- 0.25% autopay discount
- Minimum 670 FICO score
- Variable APRs starting below 2.00%
- Repayment terms ranging from 5 to 20 years
7. Best for Lower-Income Borrowers: LendKey
LendKey is another marketplace that connects borrowers with a network of lenders, but it stands out because most of its partners are credit unions and community banks. This setup often results in more competitive interest rates and loan options tailored to individual refinancing needs.
LendKey is particularly appealing to lower-income borrowers. Some of its partner lenders accept applicants with annual incomes as low as $24,000 without a cosigner or $12,000 with a cosigner. Additionally, many offer flexible repayment plans and generous deferment options for financial hardship, making LendKey a strong choice for borrowers who need extra support.
Like other refinancing marketplaces, LendKey allows you to complete one application to compare rates across multiple lenders. It also manages the application process, services the loans, and provides customer support, giving borrowers a seamless experience from start to finish.
Key features:
- Refinance limits up to $125,000 for undergraduate loans, $175,000 for graduate loans, and $300,000 for medical school loans
- Minimum FICO score of 660
- Eligible loan types include undergraduate, graduate, parent PLUS, and private student loans
- 0.25% autopay discount
- Variable APRs starting below 2.00%
- Loan terms ranging from 5 to 20 years
Conclusion
Refinancing your student loans can be a powerful way to simplify payments, lower interest rates, or access better repayment options. However, the right lender depends on your individual needs — whether you prioritize personalized service, financial hardship protections, spousal loan consolidation, or low-income eligibility.
By carefully comparing lenders and considering factors like interest rates, repayment terms, borrower protections, and extra perks, you can choose a refinance option that fits your financial situation and long-term goals. Taking the time to explore your options today could save you significant money and stress in the years to come.
