Refinance your student loans.

Refinancing your student loans can save you thousands and reduce your monthly payments.

Refinance student loans

Lower your payments. Save Money

Compare custom offers now

Student loan refinancing saves you money by replacing your existing college debt with a new, lower-cost loan through a private lender.

To qualify, you'll need:

  • Credit scores at least in the high 600s – ideally higher
  • A steady income
  • If you fall short on either, you might need a co-signer who qualifies.

You can refinance both federal loans and private loans. It doesn’t cost anything to refinance student loans, and you may be able to reduce your monthly payment or pay off your debt faster.

Which companies refinance student loans?

cheatgame.info can help you compare real loan offers, not just ranges or estimates, from the lenders below that you qualify for. It’s free, personalized and takes only two minutes.

LenderFixed APRVariable APR
Education Loan Finance3.09-6.69%a12.55-6.01%a1
CommonBond3.20-7.25%a22.72-7.25%a2
LendKey3.49-8.72%a32.47-7.99%a3
PenFed3.75-7.03%a42.85-7.59%a4
Earnest3.89-6.97%a52.47-6.23%a5
SoFi3.90-7.80%a62.48-6.99%a6

Compare personalized offers from these lenders in minutes.

It's fast, free and won't affect your credit.

on cheatgame.info's secure website

You can also apply to refinance with these other top lenders on their websites.

LenderFixed APRVariable APR
Laurel RoadVisit Laurel Road3.50-7.02%b12.95-6.37%b1
Citizens OneVisit Citizens One3.75-8.69%b22.72-8.32%b2

Frequently Asked Questions

Refinancing is a good idea if you have private student loans, or if you have federal student loans and don’t plan to take advantage of a federal forgiveness program or an income-driven repayment plan. For the biggest savings, choose the shortest repayment term. Federal student loan borrowers with poor credit or who struggle to make payments should investigate government income-driven repayment plans. Others may wish to consider federal student loan consolidation, which could lower payments by extending the term of the loan.

Student loan refinancing calculator

Yes. You need strong credit and a steady income to qualify for refinancing. Most lenders look for a credit score in at least the high 600s, a low debt-to-income ratio and a steady paycheck. Almost all lenders accept co-signers to help you qualify. Some lenders also favorably consider a job with high earning potential in a profession like medicine or law.

What if I don’t qualify to refinance my student loans?

Refinancing and consolidation describe the same thing: turning multiple loans into a single, new loan. If you go through a private lender, like the ones above, you may see a lower interest rate. If you consolidate your federal loans through the government, you won’t receive a lower interest rate, but you may qualify for loan forgiveness programs or income-driven repayment plans.

Federal student loan consolidation vs. private student loan refinancing

Most borrowers will want to go with the lowest interest rate they qualify for. But if rates are similar, look for lenders that offer options such as deferment, forbearance or flexible repayment in case of an unexpected financial hardship.

Choose the best student loan refinancing offer

Refinancing student loans doesn’t cost money. Reputable private lenders do not charge origination fees or prepayment penalties. Consolidating federal loans through the Department of Education is also free. Some so-called debt relief companies charge fees to consolidate loans on your behalf, but it’s never necessary to pay for this service.

Student loan relief companies cash in on confusion

cheatgame.info student loan refinance ratings and reviews

Some of the lowest rates around
  • Type of lenderOnline only
  • Loan servicerMohela
  • Deferment or forbearance availableYes
  • Co-signer release availableYes

Education Loan Finance student loan refinancing review
Education Loan Finance
cheatgame.info rating: 4.5 / 5.0
Refinance a parent PLUS loan in your name
  • Type of lenderOnline only
  • Loan servicerFirstmark Services
  • Deferment or forbearance availableYes
  • Co-signer release availableYes

CommonBond student loan refinancing review
CommonBond
cheatgame.info rating: 5.0 / 5.0
Compare offers from more than 300 community banks and credit unions
  • Type of lenderMarketplace that provides offers from multiple lenders
  • Loan servicerLendKey
  • Deferment or forbearance availableYes
  • Co-signer release availableYes

LendKey student loan refinancing review
LendKey
cheatgame.info rating: 4.5 / 5.0
Married couples can refinance their loans together
  • Type of lenderOnline only
  • Loan servicerPenFed Credit Union
  • Deferment or forbearance availableYes
  • Co-signer release availableYes

PenFed student loan refinancing review
PenFed
cheatgame.info rating: 4.5 / 5.0
Interest rate is based on your preferred monthly payment
  • Type of lenderOnline only
  • Loan servicerEarnest
  • Deferment or forbearance availableYes
  • Co-signer release availableNo option to apply with a co-signer

Earnest student loan refinancing review
Earnest
cheatgame.info rating: 5.0 / 5.0
Access to career coaching services
  • Type of lenderOnline only
  • Loan servicerMohela
  • Deferment or forbearance availableYes
  • Co-signer release availableNo

SoFi student loan refinancing review
SoFi
cheatgame.info rating: 5.0 / 5.0
No limit on the loan balance you can refinance
  • Type of lenderTraditional bank
  • Loan servicerMohela
  • Deferment or forbearance availableYes
  • Co-signer release availableYes

Laurel Road student loan refinancing review
Laurel Road
cheatgame.info rating: 4.5 / 5.0
Refinance even if you didn’t graduate
  • Type of lenderTraditional bank
  • Loan servicerFirstmark Services
  • Deferment or forbearance availableYes
  • Co-signer release availableYes

Citizens One student loan refinancing review
Citizens One
cheatgame.info rating: 4.5 / 5.0
Disclaimers

Annual Percentage Rates (APR), loan term and monthly payments are estimated based on analysis of information provided by you, data provided by lenders, and publicly available information. All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers' credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval.

a1 Education Loan Finance

Subject to credit approval. Terms and conditions apply. http://www.elfi.com/terms/

a2 CommonBond

Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 1.98% as of June 1, 2018.

a3 LendKey

See LendKey's full terms and conditions at https://www.lendkey.com/disclaimers

a4 PenFed

Rates and offers current as October 1, 2018. Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 3.75% APR to 7.03% APR and Variable Rate range from 2.69% APR to 7.43%. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. For Variable Rate student loans, the rate will never exceed 9.00% for 5 year and 8 year loans and 10.00% for 12 and 15 years loans (the maximum allowable for this loan). Minimum variable rate will be 2.00%.PenFed loans are originated by Pentagon Federal Credit Union. This credit union is federally insured by the National Credit Union Administration.

a5 Earnest

Specific Annual Percentage Rate (APRs) offered within these ranges will depend on a variety of factors including your creditworthiness and other application details. Annual percentage rates (APRs) reflect 0.25% discount for optional enrollment in autopay. Your approval for an Earnest Loan is subject to the full underwriting of your loan application. Read more about qualifying for a loan with Earnest here: https://www.earnest.com/eligibility.

a6 SoFi

Fixed rates from 3.899% APR to 7.804% APR (with AutoPay). Variable rates from 2.480% APR to 6.990% APR (with AutoPay). Interest rates on variable rate loans are capped at either 8.95% or 9.95% depending on term of loan. SoFi rate ranges are current as of October 10, 2018 and are subject to change without notice. See APR examples and terms. Lowest variable rate of 2.480% APR assumes the current index rate derived from the 1-month LIBOR of 2.22% 0.740% margin minus 0.25% AutoPay discount. Not all borrowers receive the lowest rate. If approved for a loan, the fixed or variable interest rate offered will depend on your creditworthiness, and the term of the loan and other factors, and will be within the ranges of rates listed above. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. *To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi to show you what rates and terms SoFi can offer you up front. After seeing your rates, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit inquiry. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score.

b1 Laurel Road

FIXED APR Fixed rate options consist of a range from 3.75% per year to 5.80% per year for a 5-year term, 5.14% per year to 6.25% per year for a 7-year term, 5.24% per year to 6.65% per year for a 10-year term, 5.30% per year to 7.05% per year for a 15-year term, or 5.61% per year to 7.27% per year for a 20-year term, with no origination fees. The fixed interest rate will apply until the loan is paid in full (whether before or after default, and whether before or after the scheduled maturity date of the loan). The monthly payment for a sample $10,000 loan at a range of 3.75% per year to 5.80% per year for a 5-year term would be from $183.04 to $192.40. The monthly payment for a sample $10,000 loan at a range of 5.14% per year to 6.25% per year for a 7-year term would be from $142.00 to $147.29. The monthly payment for a sample $10,000 loan at a range of 5.24% per year to 6.65% per year for a 10-year term would be from $107.24 to $114.31. The monthly payment for a sample $10,000 loan at a range of 5.30% per year to 7.05% per year for a 15-year term would be from $80.65 to $90.16. The monthly payment for a sample $10,000 loan at a range of 5.61% per year to 7.27% per year for a 20-year term would be from $69.41 to $79.16. However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the fixed rate will decrease by 0.25%, and will increase back up to the regular fixed interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account. VARIABLE APR Variable rate options consist of a range from 2.95% per year to 6.37% per year for a 5-year term, 4.57% per year to 6.07% per year for a 7-year term, 4.62% per year to 6.12% per year for a 10-year term, 4.87% per year to 6.37% per year for a 15-year term, or 5.12% per year to 6.62% per year for a 20-year term, with no origination fees. APR is subject to increase after consummation. The variable interest rate will change on the first day of every month (“Change Date”) if the Current Index changes. The variable interest rates are based on a Current Index, which is the 1-month London Interbank Offered Rate (LIBOR) (currency in US dollars), as published on The Wall Street Journal’s website. The variable interest rates and Annual Percentage Rate (APR) will increase or decrease when the 1-month LIBOR index changes. The variable interest rates are calculated by adding a margin ranging from 0.98% to 3.80% for the 5-year term loan, 2.35% to 3.85% for the 7-year term loan, 2.40% to 3.90% for the 10-year term loan, 2.65% to 4.15% for the 15-year term loan, and 2.90% to 4.40% for the 20-year term loan, respectively, to the 1-month LIBOR index published on the 25th day of each month immediately preceding each “Change Date,” as defined above, rounded to two decimal places, with no origination fees. If the 25th day of the month is not a business day or is a US federal holiday, the reference date will be the most recent date preceding the 25th day of the month that is a business day. The monthly payment for a sample $10,000 loan at a range of 3.20% per year to 6.02% per year for a 5-year term would be from $180.58 to $193.42. The monthly payment for a sample $10,000 loan at a range of 4.57% per year to 6.07% per year for a 7-year term would be from $139.33 to $146.42. The monthly payment for a sample $10,000 loan at a range of 4.62% per year to 6.12% per year for a 10-year term would be from $104.22 to $111.62. The monthly payment for a sample $10,000 loan at a range of 4.87% per year to 6.37% per year for a 15-year term would be from $78.40 to $86.40. The monthly payment for a sample $10,000 loan at a range of 5.12% per year to 6.62% per year for a 20-year term would be from $66.66 to $75.27. However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.

b2 Citizens One

Education Refinance Loan Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of August 1, 2018, the one-month LIBOR rate is 2.07%. Variable interest rates range from 2.72%- 8.17% (2.72%-8.17% APR) and will fluctuate over the term of the borrower's loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 3.75%-8.69% (3.75% - 8.69% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown require application with a cosigner, are for eligible, creditworthy applicants with a graduate level degree, require a 5-year repayment term and include our Loyalty discount and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty and Automatic Payment Discount disclosures. The maximum variable rate on the Education Refinance Loan is the greater of 21.00% or Prime Rate 9.00%. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens One is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of their loan. Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.