I have written about student loan refinancing frequently since 2013 when companies started refinancing again. There are a few other companies out there doing this, but these companies generally provide the best rates and experience. I have negotiated a special deal with many of these companies, and most pay you $200-1000 when you refinance with them. Yes, I get paid too, don’t worry.
Splash Financial – $300-$2000 back to you
Earnest – $300 back to you
LendKey – $300 back to you
At LendKey, formerly known as CU Student Loans, all loans are funded by community lenders. You can consolidate and refinance federal and private student loans, including undergraduate and graduate school debt for 5, 10, or 15 year terms. Recently, they upgraded their experience and now have even lower rates and more options (over 300) for lenders who will refinance your loans. Parents that took out student loans for their children to attend college are now eligible to refinance their ParentPLUS loans into lower rates through the LendKey Network. As a WCI reader, if you use the links on this page, you get an extra $300 in your pocket when your loan is funded by LendKey.
Credible – $1000* back to you
Credible is not a lender, but a marketplace where lenders compete for your business. They’ll show you actual rates from up to a dozen lenders without impacting your credit score; and they don’t share your information with lenders until you choose the specific lender you want to pursue. Even if you think you’ve found a good rate, definitely take the 2 minutes to shop it against the offers available on Credible so you are confident you are getting the best rate. There are no fees and no max balances. Doctors who have used the Credible marketplace to refinance into loans with shorter repayment terms are on track to save $50,516, on average. For medical residents, Credible also partners with multiple lenders that offer graduated repayment plans – that means you can defer full payments until you complete your residency or fellowship. Use the link above and receive a $1000 WCI bonus when refinancing through Credible. (*To receive $1,000 welcome bonus, WCI readers must refinance a balance equal to or greater than $100K by October 31, 2018. If refinancing a balance below $100K, readers are eligible for a $300 welcome bonus.)
ELFI – $450 back to you
*Update: 9/17/18 The ELFI Fast Track Bonus is $100. All you have to do is submit a completed application, including submission of all required documents, and close the refinanced loan with Education Loan Finance within 30 days of the initial application. The Fast Track Bonus will be applied to your loan as a $100 principal reduction on the new loan.
SoFi – $300 back to you*Disclaimer.
First Republic Bank – $200 back to you
Reviewed here, First Republic offers the lowest rates I’ve seen yet, with fixed rates starting at 1.95% (as of September 2017.) Unfortunately, they only lend to folks who live near their branches- in California, New York City, Boston, Greenwich CT, Portland OR, and Palm Beach FL. But if you live in those areas, take advantage! There is a liquidity requirement of 10% of the amount of the loan. In order to get the negotiated WCI deal, email [email protected] with the words “First Republic Referral” in the subject line for a direct referral or contact my banker Kerry Berchtold at 339-235-0419 or [email protected] and let her know you were referred by WCI.
Laurel Road – $300 back to you
Brazos Higher Education – $400 back to you
Start your Brazos refinance application through this page and you will get a $400 cash bonus after your loan funds! Texas residents only. Brazos is a nonprofit with over 35 years of experience with student loans. As a nonprofit, Brazos’ rates can be better than the national lenders. You can refinance up to $150,000 with a bachelor’s degree and up to $250,000 with a graduate, law, medical or other professional degree. If you’re a Texan, visit studentloans.com now and start saving. Disclaimer.
CommonBond – $500 back to you
CommonBond is also the only lender to have a “1-for-1” social model—for each loan they fund, they help fund the education of a child in need. Your loan will truly make a difference.
Use the link on this page to start your application today. As a WCI reader, you get an extra $500 in your pocket when you refinance with CommonBond.
Fixed 3.75% - 7.03%
Fixed 3.89% - 6.97%
Fixed 3.49% - 8.72%
Fixed starts 3.35%
Fixed 3.09% - 6.69%
Fixed 3.899% – 8.179%
Fixed 3.20% - 6.25%