Best Student Loan Refinance Companies in 2025

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Refinancing student loans can be a strategic move to lower interest rates, reduce yearly payments, or adjust repayment terms. As of 2025, several lenders stand out for their competitive offerings. Below are some of the top student loan refinance companies to consider:

1. SoFi

Overview:
SoFi is renowned for its competitive fixed and variable interest rates, with fixed APRs ranging from 4.49% to 9.99% and variable APRs from 5.99% to 9.99%, both including autopay discounts. They offer flexible loan terms of 5, 7, 10, 15, or 20 years and allow refinancing up to the full balance of your loans—ideal for borrowers with substantial debt. However, SoFi does not offer co-signer release on refinanced loans.

Pros:

  • No maximum loan limit
  • Allows refinancing with an associate’s degree
  • No fees, including no late payment fees

Cons:

  • Does not offer co-signer release
  • Minimum credit requirements not disclosed

2. Earnest

Overview:
Earnest features a unique “precision pricing” model that allows borrowers to customize loan terms and interest rates to fit their financial situation. Fixed rates range from 5.19% to 9.74% APR, and variable rates from 5.99% to 9.74% APR, both with autopay discounts. Loan terms range from 5 to 20 years. Earnest also offers unemployment protection, allowing payment pauses during job loss.

Pros:

  • No set income requirement
  • Can refinance without a completed degree (if other criteria are met)
  • No fees (application or prepayment)

Cons:

  • No co-signer release
  • Requires a creditworthy co-signer if you have limited credit history

3. ELFI (Education Loan Finance)

Overview:
ELFI offers competitive fixed and variable APRs—5.48% to 8.94% for fixed and 5.28% to 8.99% for variable, including autopay discounts. Loan terms include 5, 7, 10, 15, or 20 years. One standout feature is co-signer release after 36 on-time monthly payments.

Pros:

  • Co-signer release after 36 consecutive on-time payments
  • No application, origination, or prepayment fees
  • Offers a $1,100 bonus for refinancing over $100,000

Cons:

  • Minimum loan amount is $10,000
  • Specific credit score requirements not disclosed

4. Splash Financial

Overview:
Splash Financial offers personalized rates with fixed APRs starting at 4.49% and variable APRs from 5.99%, including autopay discounts. They provide terms of 5, 7, 10, 15, or 20 years and have a streamlined, user-friendly online application process.

Pros:

  • No application, origination, or prepayment fees
  • Quick, easy online application
  • Personalized rates available in minutes

Cons:

  • No co-signer release option
  • Minimum loan amount is $5,000

5. Citizens Bank

Overview:
Citizens Bank allows borrowers to refinance both federal and private student loans, with loan terms of 5, 10, or 20 years. They offer a 0.25% interest rate discount for setting up autopay. However, specific APR ranges are not publicly listed and depend on borrower qualifications.

Pros:

  • Refinances both federal and private loans
  • 0.25% discount for automatic payments
  • Flexible loan terms

Cons:

  • No co-signer release option
  • Interest rate ranges not disclosed

Conclusion

When considering student loan refinancing in 2025, it’s vital to compare offers from multiple lenders to find the best fit for your financial goals. Pay attention to:

  • Interest rates (fixed vs. variable)
  • Loan terms
  • Fees (application, origination, prepayment)
  • Co-signer release policies
  • Extra benefits like unemployment protection or refinancing bonuses

Always verify the most up-to-date information on the lender’s official website, as rates and terms can change frequently.

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