5 Best Student Loan Refinance Companies of November 2022


Serious student loan refinancing

Best for all

650

3.99–8.99%

The actual rate and repayment terms available will vary depending on your income. Fixed rates range from 4.24% APR to 9.24% APR (excluding the 0.25% autopay rebate). Variable rates range from 3.49% APR to 8.24% APR (excluding the 0.25% autopay discount). Serious variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Funding 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 a month. The maximum rate on your loan is 8.95% if your loan term is 10 years or less. For loan terms longer than 10 to 15 years, the interest rate will never exceed 9.95%. For loan terms longer than 15 years, the interest rate will never exceed 11.95%. Please note that we are unable to offer variable rate loans in AK, IL, MN, NH, OH, TN and TX. Our lowest rates are only available to our most credit-qualified borrowers and include our 0.25% automatic payment discount from a checking or savings account.

3.24–7.99%

The actual rate and repayment terms available will vary depending on your income. Fixed rates range from 4.24% APR to 9.24% APR (excluding the 0.25% autopay rebate). Variable rates range from 3.49% APR to 8.24% APR (excluding the 0.25% autopay discount). Serious variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Funding 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 a month. The maximum rate on your loan is 8.95% if your loan term is 10 years or less. For loan terms longer than 10 to 15 years, the interest rate will never exceed 9.95%. For loan terms longer than 15 years, the interest rate will never exceed 11.95%. Please note that we are unable to offer variable rate loans in AK, IL, MN, NH, OH, TN and TX. Our lowest rates are only available to our most credit-qualified borrowers and include our 0.25% automatic payment discount from a checking or savings account.

ISL refinance loan

ISL refinance loan

Best for all

670

2.55–7.63%

N / A

Read the review

Laurel Road Student Loan Refinance

Laurel Road Student Loan Refinance

Ideal for refinancing dental school loans

660

3.99–6.40%

All credit products are subject to credit approval. APRs shown include a 0.25% interest rate reduction for AutoPay. If the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the interest rate will decrease by 0.25% and increase if the borrower stops making ( or if we stop accepting) monthly payments automatically by EFT from the borrower’s bank account. The AutoPay/EFT rebate of 0.25% will not reduce the monthly payment; instead, the discount is applied to the principal to help pay off the loan faster. KeyBank National Association reserves the right to modify or discontinue products and benefits at any time without notice.

2.50–6.30%

All credit products are subject to credit approval. APRs shown include a 0.25% interest rate reduction for AutoPay. If the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the interest rate will decrease by 0.25% and increase if the borrower stops making ( or if we stop accepting) monthly payments automatically by EFT from the borrower’s bank account. The AutoPay/EFT rebate of 0.25% will not reduce the monthly payment; instead, the discount is applied to the principal to help pay off the loan faster. Variable APRs are likely to increase after consumption. The current Variable Rate Loan Index is derived from the average 30-day Guaranteed Overnight Funding Rate (“SOFR”) and changes in the SOFR Index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7 or 10 years will have a maximum interest rate of 9%, those who take out a variable loan of 15 or 20 years will have a maximum interest rate of 10%. There is no limit to the amount your interest rate can increase at one time. The index is currently published by the Federal Reserve Bank of New York (“New York Fed”). See payment examples here. KeyBank National Association reserves the right to modify or discontinue products and benefits at any time without notice.

LendKey Student Loan Refinance

LendKey Student Loan Refinance

Ideal for Low Income Student Loan Refinance

660

3.99–10.68%

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

2.81–7.21%

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

SoFi Student Loan Refinance

SoFi Student Loan Refinance

Ideal for banks to refinance student loans

650

3.99–8.99%

Fixed rates range from 3.99% APR to 8.99% APR with a 0.25% discount on automatic payment. Variable rates from 3.99% APR to 8.99% APR with a 0.25% discount on automatic payment. Unless required to be lower to comply with applicable law, variable interest rates on the 5, 7 and 10 year terms are capped at 8.95% APR; The 15 and 20 year terms are capped at 9.95% APR. Your actual rate will be within the range of rates shown above and will depend on the term you select, your credit rating, income, having a co-signer, and various other factors. The lowest rates reserved for the most creditworthy borrowers. For the SoFi Floating Rate Product, the Floating Interest Rate for a given month is obtained by adding a margin to the 30-day average SOFR index, published two business days preceding that calendar month, rounded to the nearest hundredth of one percent. the closest. (0.01% or 0.0001). APRs for variable rate loans may increase after origination if the SOFR index rises. The 0.25% SoFi Automatic Payment Interest Rate Reduction requires you to agree to make monthly principal and interest payments by automatic monthly debit from a savings or checking account. This benefit will cease and be lost during periods when you do not pay by direct debit from a savings or checking account. The benefit reduces your interest rate but does not change your monthly payment amount. This benefit is suspended during the deferment and abstention periods. Autopay is not required to receive a loan from SoFi.

3.99–8.99%

Fixed rates range from 3.99% APR to 8.99% APR with a 0.25% discount on automatic payment. Variable rates from 3.99% APR to 8.99% APR with a 0.25% discount on automatic payment. Unless required to be lower to comply with applicable law, variable interest rates on the 5, 7 and 10 year terms are capped at 8.95% APR; The 15 and 20 year terms are capped at 9.95% APR. Your actual rate will be within the range of rates shown above and will depend on the term you select, your credit rating, income, having a co-signer, and various other factors. The lowest rates reserved for the most creditworthy borrowers. For the SoFi variable rate product, the variable interest rate for a given month is obtained by adding a margin to the average SOFR index over 30 days, published two business days preceding that calendar month, rounded to the hundredth of one percent. the closest. (0.01% or 0.0001). APRs for variable rate loans may increase after origination if the SOFR index rises. The 0.25% SoFi Automatic Payment Interest Rate Reduction requires you to agree to make monthly principal and interest payments by automatic monthly withdrawal from a savings or checking account. This benefit will cease and be lost during periods when you do not pay by direct debit from a savings or checking account. The benefit reduces your interest rate but does not change your monthly payment amount. This benefit is suspended during the deferment and abstention periods. Autopay is not required to receive a loan from SoFi.

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