U-fi Review: How This Newcomer to Student Loan Refinancing Stacks Up

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Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.

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Refinancing with Earnest

Refinancing rates from 1.99% APR. Checking your rates won’t affect your credit score.

Check out Earnest

Millions of college graduates feel overwhelmed by student loan debt. It might seem as though there are few options when it comes to getting your debt under control.

However, one choice is to refinance your student loans. By refinancing, it’s possible to get a lower interest rate and a lower payment. This can free up cash flow to provide you with a little more breathing room in your budget. Plus, it’s possible to save money on the overall interest you pay.

An increasing number of companies are competing in the student loan refinancing market, including U-fi. In partnership with Nelnet, a well-known student loan originator and servicer, U-fi is giving borrowers another refinancing option.

But how do they stack up against the competition? Our U-fi student loan refinancing review can help you decide if this is the right company for you to work with.

Check Out U-fi

U-fi student loan refinancing review

With U-fi, it’s possible to refinance your student loans for your bachelor’s degree, as well as for various doctorate degrees.

When you refinance your debt through U-fi, your current student loans are replaced with one new loan. Because U-fi offers private refinancing, you will lose access to federal protections and programs if you refinance federal student loans with this program.

In some cases, though, you might not need access to programs such as income-driven repayment or Public Service Loan Forgiveness. If you have steady income and refinancing can save you significant money, it could make more financial sense to do so. Carefully evaluate your options and situation to see if refinancing is right for you.

Pros of U-fi student loan refinancing

1. Flexibility. One of the advantages of U-fi is the flexible repayment options. You can choose repayment options ranging from five to 20 years. It’s also possible to choose variable or fixed rates.

2. Special borrower benefits. Additionally, U-fi offers refinancing through Citizens One, which allows you to refinance even if you didn’t finish your bachelor’s degree. Citizens One also offers a forbearance program for borrowers experiencing economic hardship.

3. Rate discounts. You can earn interest rate discounts with U-fi, as well. Lower your interest by 0.25% when you enroll in their automatic payment program. You can receive an additional 0.25% reduction as a loyalty discount if you or your cosigner already have a Citizens One account.

4. Cosigner release. U-fi also provides a cosigner release option. After you have made 36 on-time payments and meet other requirements, you can have your cosigner released from the loan. This can be a benefit to your cosigner since it lets them off the hook for your debt.

5. Parent PLUS refinancing. Lastly, U-fi allows you to refinance Parent PLUS loans. Not every lender allows you to do this, so it can be valuable if you’ve helped pay for college by taking out one of these loans.

Cons of U-fi student loan refinancing

1. Higher rates. On the downside, some of U-fi’s student loan refinancing rates are a little higher than competitor rates. You can compare student loan refinancing rates in our marketplace for more information.

However, even though some of U-fi’s rates are a little higher, they might not be high enough to keep you from refinancing with them. For example, U-fi’s rates start at 2.60%. The difference between U-fi’s lowest rate and the lowest rates offered by SoFi and CommonBond (2.31% for both) is pretty negligible.

2. Fewer options. Additionally, rather than providing a range of partners for refinancing, U-fi only offers access to Citizens One. As a result, you might not be able to find the exact program that fits your needs.

Additionally, while you can refinance federal loans as well as private loans, U-fi doesn’t allow you to refinance federal debt that’s currently in an income-driven repayment (IDR) plan.

Some other lenders allow this, so if you’re currently using an IDR plan to manage your federal debt, it might be best to look elsewhere. But remember: If you refinance your federal loans, you will lose certain protections, including access to IDR plans.

U-fi student loan refinancing products

With U-fi, you can get a quote based on your loan amount, credit situation, and term. You can refinance student loans between $10,000 and $300,000, depending on your degree level:

  • $90,000 maximum for those with a bachelor’s degree or below
  • $225,000 maximum if you have a graduate or doctoral degree (including MBA)
  • $300,000 maximum if you have a professional degree (such as dental, medical, or law)

U-fi encourages cosigners as well, pointing out that it can help borrowers meet the eligibility requirements. U-fi offers cosigner release after you make 36 on-time payments. Note that if your loans have been in deferment or forbearance, the cosigner release starts “counting” the 36 on-time payments after you re-enter repayment.

Refinance With U-fi

Using U-fi student loan refinancing online

Using U-fi’s online platform is fairly straightforward. From the site, you can choose to get a rate or start an application.

When you choose “Get My Rate,” you’re taken off-site to the Citizens One page. After you provide basic identifying information (name, address, birthdate, and Social Security number) you’ll get an estimated rate for your refinanced loans.

When you get a rate, Citizens One performs a soft credit inquiry. This means that your credit score will not be impacted.

You can also choose to start an application. Once again, you’re taken off the U-fi website and directed to Citizens One. The application process is straightforward and takes you step-by-step through the process.

Image via Citizens One

It’s a good idea to prepare ahead of time. In addition to identifying information, you also need to provide employment and housing payment details. You’ll need proof of income and information about your current student loans. If you can find statements online or scan paper statements, that’s a good way to provide the information.

U-fi interest rates and fees

U-fi doesn’t charge any fees for applications or origination. You also don’t have to worry about paying fees for disbursement or prepayment.

The interest rate you end up with on your student loan refinancing depends on a number of factors. Fixed rates start at 3.74%, and variable rates start at 2.54%. The rate you actually end up with depends on your credit, whether or not you have a cosigner, and the highest level of education you have.

Keep in mind that variable interest rates can rise or fall based on what’s happening in the market. Citizens One bases its variable rate on the one-month LIBOR.

U-fi student loan refinancing eligibility requirements

To qualify for U-fi student loan refinancing through Citizens One, you must be a U.S. citizen, permanent resident, or resident alien. If you’re a resident alien, Citizens One requires you to have a cosigner who is a citizen or permanent resident.

When you apply to refinance, you can only choose loans that are in repayment and you must not be attending school right now. You can defer your loans if you decide to go back to school.

For those who haven’t finished a bachelor’s degree, you need to make at least 12 full on-time payments on the loans you wish to refinance. If you do have a bachelor’s degree, you have to make at least three full on-time payments before refinancing.

If you have a verified graduate degree, you don’t need to worry about the on-time payment period — you can even apply if you’re still in your grace period.

U-fi requires that you have at least $10,000 in student loans in order to refinance. Remember, too, that loans in any income-driven repayment program are not eligible for refinancing.

See If You’re Eligible

U-fi contact info and customer service

U-fi doesn’t offer phone customer service, but you can send questions and comments to Studentloans@U-fi.com.

It’s important to note that U-fi doesn’t service the loans. Citizens One has its loans serviced through Firstmark Services, which is a division of Nelnet. If you have questions about your refinanced loan after you’ve received it, reach out to your loan servicer directly.

Firstmark does offer phone service, though, so if you already have a loan you can call 888-890-9022. Customer service hours are 7 a.m. to 8 p.m. CST, Monday through Friday.

You can also keep in touch with U-fi on Facebook and Twitter.

Interested in refinancing student loans?

Here are the top 8 lenders of 2020!
LenderVariable APREligible Degrees 
Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Earnest.

Earnest Disclosures

To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.

Earnest fixed rate loan rates range from 3.20% APR (with Auto Pay) to 6.99% APR (with Auto Pay). Variable rate loan rates range from 1.99% APR (with Auto Pay) to 6.89% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 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% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of December 13, 2019, and are subject to change based on market conditions and borrower eligibility.

Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.

The information provided on this page is updated as of 12/13/2019. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at hello@earnest.com, or call 888-601-2801 for more information on our student loan refinance product.

© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.

2 Important Disclosures for SoFi.

SoFi Disclosures

  1. Student loan Refinance: Fixed rates from 3.46% APR (with AutoPay) to 7.61% APR (without AutoPay). Variable rates currently from 2.31% APR (with AutoPay) to 7.61% (without AutoPay). Interest rates on variable rate loans are capped at either 8.95% or 9.95% depending on term of loan. See APR examples and terms. Lowest variable rate of 2.31% APR assumes current 1 month LIBOR rate of 2.31% plus 0.75% margin minus 0.25% for AutoPay. If approved for a loan, the fixed or variable interest rate offered will depend on your credit history and the term of the loan 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.

3 Important Disclosures for Figure.

Figure Disclosures

Figure’s Student Refinance Loan is a private loan. If you refinance federal loans, you forfeit certain flexible repayment options associated with those loans. If you expect to incur financial hardship that would impact your ability to repay, you should consider federal consolidation alternatives.

4 Important Disclosures for College Ave.

College Ave Disclosures

College Ave Student Loans products are made available through either Firstrust 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.

1College Ave Refi Education loans are not currently available to residents of Maine.

2All rates shown 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.

3$5,000 is the minimum requirement to refinance. The maximum loan amount is $300,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, and $150,000 for all other undergraduate or graduate degrees.

4This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. 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 1/1/2020. Variable interest rates may increase after consummation.

5 Important Disclosures for Laurel Road.

Laurel Road Disclosures

Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. Mortgage lending is not offered in Puerto Rico. All loans are provided by KeyBank National Association.
As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.

This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.


There are no origination fees or prepayment penalties associated with the loan. Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.


For bachelor’s degrees and higher, up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing. If you are refinancing greater than $300,000 in student loan debt, Lender may refinance the loans into 2 or more new loans.
For eligible Associates degrees in the healthcare field (see Eligibility & Eligible Loans section below), Lender will refinance up to $50,000 in loans for non-ParentPlus refinance loans. Note, parents who are refinancing loans taken out on behalf of a child who has obtained an associates degrees in an eligible healthcare field are not subject to the $50,000 loan maximum, refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for more information about refinancing ParentPlus loans.


Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date or has no expiration date); state that they are of at least borrowing age in the state of residence at the time of application; and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).

Graduates may refinance any unsubsidized or subsidized Federal or private student loan that was used exclusively for qualified higher education expenses (as defined in 26 USC Section 221) at an accredited U.S. undergraduate or graduate school. Any federal loans refinanced with Lender are private loans and do not have the same repayment options that federal loan program offers such as Income Based Repayment or Income Contingent Repayment.

All loans must be in grace or repayment status and cannot be in default. Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment. Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for applicable terms and conditions.

For Associates Degrees: Only associates degrees earned in one of the following are eligible for refinancing: Cardiovascular Technologist (CVT); Dental Hygiene; Diagnostic Medical Sonography; EMT/Paramedics; Nuclear Technician; Nursing; Occupational Therapy Assistant; Pharmacy Technician; Physical Therapy Assistant; Radiation Therapy; Radiologic/MRI Technologist; Respiratory Therapy; or Surgical Technologist. To refinance an Associates degree, a borrower must also either be currently enrolled and in the final term of an associate degree program at a Title IV eligible school with an offer of employment in the same field in which they will receive an eligible associate degree OR have graduated from a school that is Title IV eligible with an eligible associate and have been employed, for a minimum of 12 months, in the same field of study of the associate degree earned.


The interest rate you are offered will depend on your credit profile, income, and total debt payments as well as your choice of fixed or variable and choice of term. For applicants who are currently medical or dental residents, your rate offer may also vary depending on whether you have secured employment for after residency.


The repayment of any refinanced student loan will commence (1) immediately after disbursement by us, or (2) after any grace or in-school deferment period, existing prior to refinancing and/or consolidation with us, has expired.


After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower’s economic hardship.

We may agree under certain circumstances to allow a borrower to make $100/month payments for a period of time immediately after loan disbursement if the borrower is employed full-time as an intern, resident, or similar postgraduate trainee at the time of loan disbursement. These payments may not be enough to cover all of the interest that accrues on the loan. Unpaid accrued interest will be added to your loan and monthly payments of principal and interest will begin when the post-graduate training program ends.

We may agree under certain circumstances to allow postponement (deferral) of monthly payments of principal and interest for a period of time immediately following loan disbursement (not to exceed 6 months after the borrower’s graduation with an eligible degree), if the borrower is an eligible student in the borrower’s final term at the time of loan disbursement or graduated less than 6 months before loan disbursement, and has accepted an offer of (or has already begun) full-time employment.

If Lender agrees (in its sole discretion) to postpone or reduce any monthly payment(s) for a period of time, interest on the loan will continue to accrue for each day principal is owed. Although the borrower might not be required to make payments during such a period, the borrower may continue to make payments during such a period. Making payments, or paying some of the interest, will reduce the total amount that will be required to be paid over the life of the loan. Interest not paid during any period when Lender has agreed to postpone or reduce any monthly payment will be added to the principal balance through capitalization (compounding) at the end of such a period, one month before the borrower is required to resume making regular monthly payments.


This information is current as of November 8, 2019 and is subject to change.

6 Important Disclosures for Splash Financial.

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.

7 Important Disclosures for CommonBond.

CommonBond Disclosures

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 1.76% effective November 10, 2019.

8 Important Disclosures for LendKey.

LendKey Disclosures

Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it  endorse,  any educational institution.

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. The lowest advertised variable APR is only available for loan terms of  5 years and is reserved for applicants with FICO scores of at least 810.

As of 12/019/2019 student loan refinancing rates range from 1.90% to 8.59% Variable APR with AutoPay and 3.49% to 7.75% Fixed APR with AutoPay.

1.99% – 6.89%1Undergrad
& Graduate

Visit Earnest

2.31% – 7.36%2Undergrad
& Graduate

Visit SoFi

2.06% – 6.81%3Undergrad
& Graduate

Visit Figure

2.62% – 6.12%4Undergrad
& Graduate

Visit College Ave

2.29% – 6.65%5Undergrad
& Graduate

Visit Laurel Road

1.99% – 7.06%6Undergrad
& Graduate

Visit Splash

1.81% – 6.29%7Undergrad
& Graduate

Visit CommonBond

1.90% – 8.59%8Undergrad
& Graduate

Visit Lendkey

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print to help you understand what you are buying. Be sure to consult with a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time.