Top Student Loan Refinance Lenders

SimpleTuition is pleased to present details on the leading
student loan refinance products. Please visit the lender sites to learn more and apply.

Lender

Fixed Rate APR

Variable Rate APR

Repayment Length

 

LendKey

3.15% - 7.26%
notes: 3

2.57% - 6.31%
notes: 3

5, 7, 10, 15, 20
years


Discover

5.24% - 8.24%
notes: 1

3.87% - 7.12%
notes: 1

10, 20
years


CollegeAve

4.65% - 7.50%
notes: 4

4.13% - 7.13%
notes: 4

5-15
years (your choice)


Earnest

3.35% - 6.39%
notes: 12

2.82% - 6.19%
notes: 12

5-20
years (your choice)


Citizens

3.35% - 8.24%
notes: 6

2.79% - 8.14%
notes: 6

5, 10, 15, 20
years
Rate and Repayment Examples


CommonBond

3.35% - 6.74%
notes: 5

2.79% - 6.72%
notes: 5

5, 7, 10, 15, 20
years


ELFI

3.74% - 9.49%
notes: 9

3.00% - 9.75%
notes: 9

15
years


ELFI

3.19% - 6.69%
notes: 8

2.49% - 6.01%
notes: 8

5, 7, 10, 15, 20
years


Lender

APR

 
LendKey

2.57% - 6.31%
notes: 3

Discover

3.87% - 7.12%
notes: 1

CollegeAve

4.13% - 7.13%
notes: 4

Citizens

2.82% - 6.19%
notes: 6

Citizens

2.79% - 8.14%
notes: 6

CommonBond

2.79% - 6.72%
notes: 5

Thrivent

3.00% - 9.75%
notes: 9

ELFI

2.49% - 6.01%
notes: 8

About Our Top Student Refinance Lenders

  • Higher chance of approval with our network of not-for-profit lenders
  • 2 minute rate check with no impact on your credit score
  • No handoffs -- you'll be with our fully trained customer care team from your application to your final payment
  • Available for private, federal, undergraduate and graduate school student loans
  • Never any application or origination fees, or prepayment penalties
  • Great rates and flexible terms that could lower your overall monthly payment amount each month.
  • Make just one payment each month so you don't have to worry about multiple payments and due dates
  • No fees ever - $0 application, origination or late fees
  • 0.25% interest rate reduction while enrolled in automatic payments (included in lowest listed APRs)2
  • Competitive fixed and variable rates
  • Apply in 3 minutes or less
  • Flexible term choice – Choose how long you take to pay back
  • No application or origination fees
  • Refinance amounts as low as $5,000 (federal & private)
  • Lower rates based on your full financial profile, not just your credit score
  • Clients have saved $21,81011 on average by refinancing with Earnest
  • Flexible terms and lifetime service provided in-house
  • No fees for origination, prepayment, or loan disbursement
  • Two-minute rate check with no obligation or impact to your credit score
  • Citizens Bank, N.A. has a nearly 200 year history of serving customers and communities
  • 0.50 percentage point interest rate reduction discounts available7
  • No application, origination or disbursement fees
  • Competitive fixed and variable interest rates
  • Save over $24,000 on average and pay no fees!
  • Refinancing and consolidation of private and federal student loans
  • 5, 7, 10, 15, and 20 Year Repayment Terms
  • Unemployment protection - put your payments on hold while they help find you a new job
  • Social good - for every fully funded degree through CommonBond, they fund the education of a student in need abroad for a year
  • For more than 100 years; Thrivent Financial has served our members with the tools and resources to help them be wise with money and to live generously.
  • Loan Amounts up to $120,000
  • 15 Year Loan Term
  • Fixed and Variable Rate Options
  • No Loan Origination or Disbursement Fees...ever!
  • Financial guidance through a faith-based lens...we call it New School Lending
  • Refinance and consolidate federal and private student loans as well as Parent PLUS loans
  • Offer discounted rates automatically as there is no need to enroll in auto debit
  • $100 bonus for completing required paperwork within 30 days of application
  • No application, origination, or prepayment fees

1 Get a variable interest rate from 3.87% APR to 7.12% APR (3-Month LIBOR + 2.49% to 3-Month LIBOR + 5.74%) for either a 10-year or 20-year repayment term. Or lock in a fixed interest rate from 5.24% APR to 8.24% APR for a 10-year repayment term or from 5.49% APR to 8.24% APR for a 20-year repayment term. The fixed interest rate is set at the time of application and does not change during the life of the loan. The variable interest rate is calculated based on the 3-Month LIBOR index plus the applicable Margin percentage. The margin is based on your credit evaluation at the time of application and does not change. For variable interest rate loans, the 3-Month LIBOR is 1.375% as of July 1, 2017. Discover Student Loans may adjust the rate quarterly on each January 1, April 1, July 1 and October 1 (the "interest rate change date"), based on the 3-Month LIBOR Index, published in the Money Rates section of the Wall Street Journal 15 days prior to the interest rate change date, rounded up to the nearest one-eighth of one percent (0.125% or 0.00125). This may cause the monthly payments to increase, the number of payments to increase or both. The lowest listed APRs include a 0.25% rate reduction for automatic payments. Visit www.discover.com for more information, including up-to-date interest rates and APRs.

2 View Terms and Conditions.

3 Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The 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 canceled, any increase will take the form of higher payments.

4 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. 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.

5 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 1.1300% as of June 10, 2017.

8 Subject to credit approval. Terms and conditions apply. To qualify for refinancing or student loans consolidation through ELFI, you must have at least $15,000 in student loan debt and must have earned a bachelor's degree or higher from an approved post-secondary institution.

9 For our fixed-rate loans, the APRs in effect as of 07/01/2017, range from 3.74*% to 9.49%, depending upon your and/or your cosigner's credit histories and the repayment option you select. For our variable-rate loans, the APRs in effect as of 07/01/2017, range from 3.00*% to 9.75%, depending on your and/or your cosigner's credit histories and the repayment option you select. *The lowest APR, as shown in the rates above, is based on creditworthiness and auto payments.

11 Disclaimer

12 Rates above include 0.25% discount for auto-pay.

Citizens Bank Student Loan Disclosures
6 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 October 1, 2017, the one-month LIBOR rate is 1.24%. Variable interest rates range from 2.79% - 8.14% (2.79% - 8.14% 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 3.35% - 8.24% (3.35% - 8.24% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown are for eligible applicants, 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 plus 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 Bank 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.

7 Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.

7 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.