Looking to refinance your student loans but not sure where to begin? Discover the most recommended student loan refinancing services and find a loan that works for you.

Funding Hero's Choice

  • Accepts credit scores from 630
  • Federal, private, Parent PLUS
  • Applying won't affect credit score
  • No origination fees
  • Personalized rates in 2 minutes

2.31% (variable)

3.14% (fixed)


  • Accepts credit scores from 600
  • Federal and private
  • Applying won't affect credit score
  • Flexible repayment terms

2.05% (variable)

3.14% (fixed)


  • Accepts credit scores from 680
  • Private, federal, parent loans
  • Autopay discounts

2.74% (variable)

3.54% (fixed)


  • Accepts credit scores from 660
  • Federal, private, past consolidated
  • 24 months of forbearance

2.14% (variable)

3.21% (fixed)

Joe Schwartz

Student Loans Editor

Our chief content editor, Joe manages a diverse team of content writers. He holds a degree in online communications and his writing has been featured in a wide range of online publications.

FAQs About Student Loan Refinancing

Before refinancing a student loan, be sure you familiarize yourself with all the terms and conditions associated. To help you get started, we’ve compiled some of the most frequently asked questions about student loan refinancing.

Yes, you absolutely can! If you have an existing student loan with an APR that is on the higher side, you may be able to refinance your student loan and actually save money. Say you took a student loan (without a cosigner) 5 years ago with an APR of 9% and you now have both higher credit and the ability to add a cosigner, you will likely be eligible for lower monthly rates. In some cases, you would use a student loan service to refinance, but in other cases, you may simply want to utilize a debt consolidation loan, especially if you have other creditors.
A student loan refinancing plan with a fixed rate means that the APR will remain consistent throughout the life of your new loan. If you take a 15-year loan in 2020 with a 5% APR, you'll still be paying 5% APR in 2035. However, a variable rate loan is likely to change over the course of your loan, based on a wide variety of market factors. Variable-rate loans are often cheaper in the short term but can end up more expensive in the long run.
The goal of refinancing your student loan is to get more favorable rates and save you money. Therefore, when looking for a refinance solution, you should check the available rates and make sure they are lower than the current rates you are paying. Other factors to look at are whether or not you require a certain credit score to apply and whether or not a cosigner can help you find a lower rate. Sometimes, students are unable to use a cosigner when they originally apply for a loan, but later on, if you have the option of adding a cosigner, it could help you with more favorable refinance terms. Finally, take a look at the other factors of a student loan refinancing service. Do they offer discounts if you make automatic payments (auto-pay)? Do they charge origination fees, services fees, or prepayment penalties? Will applying affect your credit score? Be sure to examine these questions and find a refinance service that provides the best overall terms and rates.
No matter what types of student loans you currently hold, there is a student loan refinancing service that will work with you. Whether you are looking to refinance federal student loans, private student loans, parent PLUS loans, graduate loans, medical school loans, and more, we'll help you find a service that works for you. Be sure to carefully examine the terms of each refinancing service above and find one that matches the type of loans you are looking to refinance.