Refinance Student Loan rates starting at 1.74% APR
|1.74% to 8.70% 1VARIABLE APR|
|1.74% to 7.99% 2VARIABLE APR|
|1.74% to 7.99% 3VARIABLE APR|
Splash Financial Disclosures
Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance. The rates displayed may include a 0.25% autopay discount
The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice.
To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
Splash Financial and our lending partners reserve the right to modify or discontinue products and benefits at any time without notice. To qualify, a borrower must be a U.S. citizen and meet our lending partner’s underwriting requirements. Lowest rates are reserved for the highest qualified borrowers. This information is current as of May 4, 2022.
2Rate range above includes optional 0.25% Auto Pay discount. Important Disclosures for Earnest.
Student Loan Refinance Interest Rate Disclosure Actual rate and available repayment terms will vary based on your income. Fixed rates range from 2.99% APR to 8.24% APR (excludes 0.25% Auto Pay discount). Variable rates range from 1.99% APR to 8.24% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. The maximum rate for your loan is 8.95% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Let us know if you have any questions and feel free to reach out directly to our team.
3Important Disclosures for SoFi.
Fixed rates range from 3.49% APR to 7.99% APR with a 0.25% autopay discount. Variable rates from 1.74% APR to 7.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates on 5-, 7-, and 10-year terms are capped at 8.95% APR; 15- and 20-year terms are capped at 9.95% APR. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR 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. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.
- Variable APR
|Pros of Credible student loans||Cons of Credible student loans|
|Compare offers from several lenders at the same time||You’ll likely still need to research individual lenders’ terms and conditions|
|Prequalification won’t affect your credit score||Selection of lenders is limited to Credible’s partners|
|Find offers for private student loans or refinanced student loans||No rate discount for applying through Credible|
|Explore other financial products, such as personal loans, home loans and credit cards|
Credible is an online marketplace that helps you compare offers from multiple lenders at the same time. After providing a few basic pieces of information, you can see personalized rate quotes for private student loans, student loan refinancing or other financial products.
Checking your rates doesn’t obligate you to take out a loan, nor does it impact your credit score. To learn more about how Credible simplifies the loan shopping process, check out this full Credible review.
- Credible student loans review: the basics
- Credible products
- Credible student loan refinancing
- Credible private student loans
- How Credible’s marketplace works
- What we like about Credible student loans: Pros
- What to keep in mind about Credible student loans: Cons
- Contact Credible for more information
When shopping for airline tickets, you’ve probably used a flight comparison website to find the best deal. Credible works much the same way, but rather than comparing flights, it shows you offers for loans. Credible checks rates across a variety of lenders so you don’t have to.
Plus, it customizes each offer to your individual profile. All you have to do is enter a few pieces of information, like your name, income and college. Then, Credible (or its lender partners) will run a soft credit check to get a sense of your financial history.
Since it’s a soft check, this inquiry won’t affect your credit score in any way, nor do you have to pay any fee to use this secure service. Assuming you meet each lenders’ eligibility requirements, you’ll then prequalify for a variety of offers. None of these offers are binding and you have no obligation to accept any of them.
If you do find one you like, you’ll go on to submit a full application.
Credible can show you offers for several types of loans:
- Refinanced student loans
- Private student loans
- Personal loans
- Home loans
- Mortgage refinancing
- Credit cards
For the purposes of this Credible review, we will focus on Credible student loan refinancing and private student loans.
When you refinance student loans, you combine all your student loans — private, federal or both — into one private loan from a new lender.
Depending on your creditworthiness, your new loan could have better terms and a lower interest rate than what you have currently. As a result, refinancing your student loans could save you money over the life of your student loans.
When you prequalify with Credible, you can see refinancing offers from multiple lenders at once. You’re not locked into any of these offers, but they’re also not guaranteed. You’ll still need to submit a full application and consent to a hard credit check to confirm your loan terms.
Here are the details:
- Student loan refinance interest rates and terms
- Refinance lenders on Credible
- Pros of Credible student loan refinance
- Cons of Credible student loan refinance
As of Nov. 17, 2021, Credible offers interest rates from 1.74% to 7.83% APR. Repayment terms range from five to 20 years.
The interest rate you ultimately get depends on your creditworthiness, which is based on factors like repayment history and outstanding debts.
It’s also good to note that preliminary offers are not set in stone. Lenders have to review your full application before finalizing an offer. Plus, interest rates can also fluctuate with the market.
If you get a good initial offer from Credible, you should act quickly to file a full application. That way, you’ll minimize the risk of interest rates going up before you lock in a good deal.
While Credible provides you with a variety of offers, its offers are limited to its partner lenders. Here are the lenders Credible partners with to offer student loan refinancing offers:
- Advantage Education Loan
- College Ave Student Loans
- Common Bond
- Education Loan Finance
- ISL Education Lending
- PenFed Credit Union
Credible works with some big lenders, but it’s not connected with every major player. For instance, they don’t work with many credit unions, which often have some of the most customer-friendly terms on the market. Similarly, it isn’t partnered with refinancing companies like Earnest or Splash Financial, which have some of the lowest interest rates out there.
Some advantages of checking your refinancing rates through the Credible marketplace include:
- You can compare prequalification offers from multiple lenders at once
- This prequalification process is fast, easy and won’t impact your credit score
On the other hand, the Credible marketplace also has a few downsides to be aware of:
- Your prequalification offers aren’t guaranteed
- You may need to do additional research on individual lenders
- Your offers will be limited to Credible’s partner lenders
Most of Credible’s lending partners offer private student loans up to your school’s maximum certified total cost of attendance. As with refinancing, you can use Credible to enter your information once and compare prequalification offers from multiple lenders.
Here’s what you should know:
- Private student loan interest rates and terms
- Student loan lenders on Credible
- Pros of Credible student loans
- Cons of Credible student loans
As of Nov. 17, 2021, variable interest rates from 0.99% to 11.99% APR and fixed rates from 2.94% to 12.99% APR. Repayment terms range from five to 20 years.
As with student loan refinancing offers, interest rates will vary depending on the lender and your creditworthiness.
Here are the lenders Credible works with to offer private student loans:
- Citizens Bank
- College Ave Student Loans
- Sallie Mae
The pros of Credible student loans are similar to those of Credible’s refinanced loans:
- Compare offers from multiple lenders at the same time
- Prequalify for offers with no impact on your credit score
- Option to borrow up to the full cost of attendance of your school
- Your student loan offers are not guaranteed
- You may need to research individual lenders on their websites to determine which one is right for you
- You’ll only see offers from Credible’s partners, so it could be worth looking around to see what other lenders have to offer
Credible takes much of the work of loan shopping out of your hands, but its selection of offers is limited to a select list of lenders. This makes Credible a good jumping off point as you begin to research your options, but you may be able to find a better deal by looking outside of its partners.
Credible provides a marketplace that lets you check your rates with multiple lenders at once. Whether you’re applying for a private student loan or a refinanced student loan, the process is largely the same.
1. Submit basic information for personalized rate quotes
You’ll start by providing some basic information, like your name, college, income and the amount you want to borrow. If you’re applying with a cosigner, your cosigner will provide their information, too. Credible will then run a soft credit check to determine your eligibility, as well as ask you to create an account.
2. Compare your offers
Once you’ve created your account, Credible will show you offers from a variety of lenders. You might see multiple offers from the same lender, each with different rate types (fixed or variable) and term lengths. You can filter your results so you only see offers with certain terms. You might also use a student loan calculator at this step to compare offers and find terms that work for you.
3. Pick a lender and submit a full application
If you see an offer you like, you can select the lender and submit a full application. Note that this application will involve a hard credit check, which can impact your (and your cosigner’s, if applicable) credit score. Before applying, make sure to research the lender to learn more about its policies. Some lenders, for instance, offer flexible repayment options in the event of financial hardship. Since you’ll likely be dealing with this lender for years, you want to do your due diligence before deciding.
Credible’s free student loan marketplace makes it easy to compare offers from multiple lenders in a matter of minutes. Whether you’re looking to borrow a new student loan or refinance an existing one, Credible can help you comparison shop. It offers competitive rates and partners with reputable lenders.
While Credible is a useful resource for finding a loan, it’s important to keep in mind that it won’t show you offers from every lender out there. It’s probably worth shopping around with other marketplaces or lenders, such as credit unions, to find the lowest rates. You’ll also have to do your own research on a lender before applying to learn about its terms and conditions.
When you compare your options through Credible, you can chat with its Client Success Team directly on the website. For additional information beyond this Credible review, you can email [email protected] or call 866-540-6005.
Need a student loan?Here are our top student loan lenders of 2022!
|1.19% – 11.98%1||Undergraduate|
|1.62% – 11.73%*,2||Undergraduate|
|0.94% – 11.44%3||Undergraduate|
|1.64% – 11.45%4||Undergraduate|
|1.89% – 11.92%5||Undergraduate|
|0.00% – 23.00%8||Undergraduate|
|* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
1 Important Disclosures for College Ave.
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
Rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. This informational repayment example uses typical loan terms for a first year graduate student borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.10% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $141.66 while in the repayment period, for a total amount of payments of $16,699.21. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 4/19/2022. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
2 Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
3 Rate range above includes optional 0.25% Auto Pay discount. Important Disclosures for Earnest.
Actual rate and available repayment terms will vary based on your income. Fixed rates range from 3.49% APR to 13.03% APR (excludes 0.25% Auto Pay discount). Variable rates range from 1.19% APR to 10.14% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada.
4 Important Disclosures for Ascent.
Ascent loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: AscentFunding.com/Ts&Cs
Rates are effective as of 05/01/2022 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes income-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates.
1% Cash Back Graduation Reward subject to terms and conditions, please visit AscentFunding.com/Cashback. Cosigned Credit-Based Loan student borrowers must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest APRs are available for the most creditworthy applicants and may require a cosigner.
5 Important Disclosures for SoFi.
UNDERGRADUATE LOANS: Fixed rates from 3.47% to 11.16% annual percentage rate (“APR”) (with autopay), variable rates from 1.89% to 11.92% APR (with autopay). GRADUATE LOANS: Fixed rates from 4.60to 11.06% APR (with autopay), variable rates from 2.59% to 11.82% APR (with autopay). PARENT LOANS: Fixed rates from 4.48% to 11.16% APR (with autopay), variable rates from 1.69% to 11.92% APR (with autopay). For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law. Lowest rates are reserved for the most creditworthy borrowers. If approved for a loan, the interest rate offered will depend on your creditworthiness, the repayment option you select, the term and amount of the loan and other factors, and will be within the ranges of rates listed above. 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. Information current as of 05/04/2022. Enrolling in autopay is not required to receive a loan from SoFi. Loans originated by SoFi Lending Corp. or an affiliate (dba SoFi), licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. NMLS #1121636 (www.nmlsconsumeraccess.org).
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
Undergraduate Rate Disclosure: Fixed interest rates range from 3.48% – 11.64% (3.48% – 10.78% APR).
Graduate Rate Disclosure: Fixed interest rates range from 4.89% – 11.64% (4.89% – 11.34% APR).
Business/Law Rate Disclosure: Fixed interest rates range from 4.49% – 10.39% (4.49% – 9.68% APR).
Medical/Dental Rate Disclosure: Fixed interest rates range from 4.43% – 9.19% (4.44% – 8.89% APR).
Parent Loan Rate Disclosure: Fixed interest rates range from 4.80%-8.23% (4.80%-8.24% APR).
Bar Study Rate Disclosure: Fixed interest rates range from 7.39% – 12.94% (7.40% – 12.83% APR).
Medical Residency Rate Disclosure: Fixed interest rates range from 6.99% – 10.49% (6.98% – 10.09% APR).
ERL Variable Rate Disclosure: Variable interest rates are based on the 30-day average Secured Overnight Financing Rate (“SOFR”) index, as published by the Federal Reserve Bank of New York. As of May 1, 2022, the 30-day average SOFR index is 0.29%. Variable interest rates will fluctuate over the term of the loan with changes in the SOFR index, and will vary based on applicable terms, level of degree and presence of a co-signer. The maximum variable interest rate is the greater of 21.00% or the prime rate plus 9.00%.
Fixed Rate Disclosure: Fixed rate ranges are based on applicable terms, level of degree, and presence of a co-signer.
Lowest Rate Disclosure: Lowest rates are only available for the most creditworthy applicants, require a 5-year repayment term, immediate repayment, a graduate or medical degree (where applicable), and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Rates are subject to additional terms and conditions, and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer. Borrowers should carefully review federal benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision on our website including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.
Eligibility Criteria: Applicants must be a U.S. citizen, permanent resident, or eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For applicants who have not attained the age of majority in their state of residence, a co-signer is required. Citizens Bank reserves the right to modify eligibility criteria at any time. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/Promissory Note, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens Bank participating school.
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.
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.
7 Important Disclosures for Funding U.
Funding U Disclosures
Offered terms are subject to change. Loans are made by Funding University which is a for-profit enterprise. Funding University is not affiliated with the school you are attending or any other learning institution. None of the information contained in Funding University’s website constitutes a recommendation, solicitation or offer by Funding University or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.
8 Important Disclosures for Edly.
1. Loan Example:
About this example
The initial payment schedule is set upon receiving final terms and upon confirmation by your school of the loan amount. You may repay this loan at any time by paying an effective APR of 23%. The maximum amount you will pay is $22,500 (not including Late Fees and Returned Check Fees, if any). The maximum number of regularly scheduled payments you will make is 60. You will not pay more than 23% APR. No payment is required if your gross earned income is below $30,000 annually or if you lose your job and cannot find employment.
2. Edly Student IBR Loans are unsecured personal student loans issued by FinWise Bank, a Utah chartered commercial bank, member FDIC. All loans are subject to eligibility criteria and review of creditworthiness and history. Terms and conditions apply.