6 Best Student Loan Refinance Companies of 2020

If you’re ready to refinance your student loans, then you can save thousands or lower your monthly payment.

Student loan refinancing saves you money and you could snag a lower interest rate, decrease your monthly payment, or both. But which lenders are the best to refinance and save money?

We recommend these leading lenders that specialize in refinancing student loans and helping you save money on them. Keep in mind that checking your rate is free, and won’t affect your credit. The six lenders below are the best in terms of rate and helping you lower your student loan payment for both private and federal student loans.

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.

So if you are ready to lower your interest rate and decrease your monthly payment here are our top recommendations for student loan refinancing and consolidation.

Lender	Variable APR	Loan Types	Eligible Loans:	Terms
	1.98% to 6.55%	Variable and Fixed	Private and Federal	5, 7, 10, 15, 20	VISIT LAUREL ROAD
	1.99% to 5.64%	Variable and Fixed	Private and Federal	5 – 20	VISIT EARNEST
	1.99% to 7.10%	Variable and Fixed	Private and Federal	5, 7, 8, 10, 12, 15, 20	VISIT SPLASH
	1.99% to 5.25%	Variable and Fixed	Private and Federal	5, 7, 10, 15, 20	VISIT LENDKEY
	1.99% to 6.28%	Variable and Fixed	Private and Federal	5, 7, 10, 15, 20	VISIT SOFI
	3.18% to 6.07%	Variable and Fixed	Private and Federal	5, 7, 10, 15, 20	VISIT COMMONBOND

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If you are interested in refinancing student loans, consider comparing the top 6 lenders now. Checking your rates is fast, free and won’t affect your credit.

In a hurry? Compare personalized offers from these lenders in minutes with Credible.
It’s fast, free and won’t affect your credit.

Or, click here to learn more about refinancing your student loans ↓

Earnest Student Loan Refi – Get Your Rate in 2 Min‎

Earnest has the lowest variable rate we’ve seen being offered and one of the lowest fixed rates out there! But, they offer more than just low rates so here are some reviews from the client’s experience:

Earnest was founded in 2013 to help grads save money by refinancing student loans. Since then Earnest has helped thousands of clients reduce the interest they pay, through innovative underwriting that rewards responsible habits.

The process is to refi through Earnest is simple and direct. If you hate dealing with financial paperwork, you’ll be happy since they make refinancing as painless as possible starting with a 2-minute online process to get your rate. Oh, and they are rated 9.4/10 on TrustPilot (one of the highest).

Managing your student loans is easy with the Earnest dashboard!

• Choose your preferred payment amount based on your budget
• Increase payment anytime to pay off loan faster
• Adjust your payment date anytime with ease
• Make extra or early payments without prepayment penalties
• Skip a payment and make it up later
• Consolidate your private and federal loans

VISIT EARNEST

Student Loan Refinancing is a Smart Financial Move

1. It’s simple to check your rate and can save you a lot of money

There are a lot of competing student loan companies and that’s good for you. That means you can get the best possible interest rate which can save you a lot of money. The average user saves $18,668 when refinancing. You can check your rate for all of the lenders on this page in under 3 minutes.

2. If you have a high-interest rate on your student loans

Fortunately, for many graduates, refinancing can be a great opportunity to help with loan payments. If you have federal or private student loans with an interest rate of over 4%, then refinancing them will save you a lot of money. Student loans with 6.8% interest rates mean that you’ll need to pay $586 a month in interest alone for every $100,000 you owe. You could also refinance your student loans to a longer-term to help lower your monthly payments.

3. If you don’t qualify for public student loan forgiveness

Public student loan forgiveness (PSLF) was created in order to encourage graduates to pursue full-time work in public sectors including nonprofits and government organizations. If you are working in one of these fields, and have been consistent with your payments, it’s best to weigh your options and see if refinancing or PSLF will save you more money over the life on your student loan.

If you are interested in refinancing student loans, compare the top 6 lenders now. Checking your rates is fast, free and won’t affect your credit.

In a hurry? Compare personalized offers from these lenders in minutes with Credible.
It’s fast, free and won’t affect your credit.

Recap: The Top 6 Student Loan Refinancing Companies

Lender	Variable APR	Loan Types	Eligible Loans:	Terms
	1.98% to 6.55%	Variable and Fixed	Private and Federal	5, 7, 10, 15, 20	VISIT LAUREL ROAD
	1.99% to 5.64%	Variable and Fixed	Private and Federal	5 – 20	VISIT EARNEST
	1.99% to 7.10%	Variable and Fixed	Private and Federal	5, 7, 8, 10, 12, 15, 20	VISIT SPLASH
	1.99% to 5.25%	Variable and Fixed	Private and Federal	5, 7, 10, 15, 20	VISIT LENDKEY
	1.99% to 6.28%	Variable and Fixed	Private and Federal	5, 7, 10, 15, 20	VISIT SOFI
	3.18% to 6.07%	Variable and Fixed	Private and Federal	5, 7, 10, 15, 20	VISIT COMMONBOND