Ranked 1 of 4BEST FOR
Earnest
Flexible payment schedules
Jump to itSTUDENT LOAN REFINANCE RANKINGS · 2026
Best student loan refinance companies of 2026
Refinancing swaps your current student loans for one new private loan, ideally at a lower rate. The lenders ranked here are compared on total repayment, payment flexibility, and what happens when money gets tight. Federal borrowers should read what they'd give up before they look at a single rate.
Advertising disclosure · Our methodology
- Companies compared
- 4
- Criteria weighed
- 6
- Related guides
- 1
- Last reviewed
RANKED 1 · 2 · 3
The top three on our list.
4 companies compared. Ranks 4 to 4 follow in the full list below. How we rank
Ranked 2 of 4BEST FOR
SoFi
A private refinance with online tools
Jump to itRanked 3 of 4BEST FOR
ELFI
A refinance-only lender to compare
Jump to it4 companies listedPick up to 3 to compare
Ranked 1 of 4
Private refinanceBEST FOR
Earnest
Flexible payment schedules
- Service
- Private refinance
- Costs
- Ask the company for current terms
- Known for
- Custom term lengths
Why it's here. Earnest is known for letting borrowers fine-tune the repayment term and payment amount. Use its current terms to compare total borrowing cost, not just the monthly number.
Worth a look for
- Custom term lengths
- Repayment options spelled out
The catch
Rates, terms, and approval depend on your credit and income.
Ranked 2 of 4
Private refinanceBEST FOR
SoFi
A private refinance with online tools
- Service
- Private refinance
- Costs
- Ask the company for current terms
- Known for
- Fast online rate check
Why it's here. SoFi offers student loan refinancing with an online rate check. Compare its personalized offer against other lenders using the same balance and term, and read what protections you'd lose if the loans are federal.
Worth a look for
- Fast online rate check
- Fixed and variable options
The catch
Refinancing federal loans here, or anywhere, ends your federal protections.
Ranked 3 of 4
Private refinanceBEST FOR
ELFI
A refinance-only lender to compare
- Service
- Private refinance
- Costs
- Ask the company for current terms
- Known for
- Refinance-focused lender
Why it's here. ELFI, short for Education Loan Finance, focuses on student loan refinancing. Put its quote next to the others using the same balance and term.
Worth a look for
- Refinance-focused lender
- Eligibility details published
The catch
Ask about the minimum balance, hardship options, and repayment terms.
Ranked 4 of 4
Private refinanceBEST FOR
Citizens
Refinancing with a traditional bank
- Service
- Private refinance
- Costs
- Ask the company for current terms
- Known for
- Bank-based refinance
Why it's here. Citizens offers student loan refinancing through its retail bank. Ask for a like-for-like quote and check the current product details, since bank offerings change.
Worth a look for
- Bank-based refinance
- Branch and phone support
The catch
Confirm the current product and the cosigner rules before you apply.
Every company at a glance
The short version. Click any name for the full review, and confirm current terms with the company before you decide.
| Company | Service type | Best for | The catch | Next step |
|---|---|---|---|---|
Ranked 1 of 4 | Private refinance | Flexible payment schedules | Rates, terms, and approval depend on your credit and income. | Full review |
Ranked 2 of 4 | Private refinance | A private refinance with online tools | Refinancing federal loans here, or anywhere, ends your federal protections. | Full review |
Ranked 3 of 4 | Private refinance | A refinance-only lender to compare | Ask about the minimum balance, hardship options, and repayment terms. | Full review |
Ranked 4 of 4 | Private refinance | Refinancing with a traditional bank | Confirm the current product and the cosigner rules before you apply. | Full review |
Student Loan Refinance explained
What refinancing does and doesn't do
Refinancing replaces one or more student loans with a new private loan, ideally at a lower rate or with a term that fits your budget better. It's not the same as federal consolidation, which keeps federal protections. Once a federal loan is refinanced privately, income-driven repayment, Public Service Loan Forgiveness, and federal forbearance are gone for good.
Who tends to benefit
Borrowers with a solid credit score, steady income, and private loans or high-rate federal loans they're confident they'll repay without federal help usually see the biggest gains. A cosigner can help you qualify or lower the rate, but ask how and when the cosigner can be released.
Reading the fine print
Check for origination fees, prepayment penalties, how the lender handles a job loss, whether the rate is fixed or variable, and whether the headline rate assumes autopay. Then run the full repayment, not just the monthly payment, using the calculator on this page.
What to look for in student loan refinance
01
Check your federal benefits before anything else
Once a federal loan is refinanced into a private one, income-driven repayment, forgiveness programs, and federal forbearance are gone for good. Read the current Federal Student Aid guidance before you apply anywhere.
02
Compare the same loan, not the best ad
Enter the same balance and term with each lender. Keep fixed and variable quotes in separate columns, and note any autopay discount baked into the headline rate. The rate in the ad is the floor, not the rate most people get.
03
Run the full repayment, not the monthly payment
A lower payment over a longer term usually means more interest in total. Ask about forbearance, cosigner release, and prepayment. Then use the calculator on this page to see what a longer term really costs.
DO THE MATH
What would the payment be?
A fixed-rate loan with equal monthly payments.
Monthly payment$341
Total interest$10,877
Total repaid$40,877
For illustration only. Leaves out fees, assumes the rate never changes, and assumes no extra payments. Not an offer from any lender.
What we score, and how much it counts
These weights set our research priorities for this category. We don’t publish a number for a company until we’ve verified enough to back it up.
See the full methodologyFrequently asked questions about student loan refinance lenders
Should I refinance federal student loans?+
Only if you're sure you won't need income-driven repayment, forgiveness programs, or federal forbearance. Private refinancing ends those protections permanently, even if the rate is lower.
Does checking my refinance rate hurt my credit?+
Most lenders show an initial rate with a soft credit pull, which has no effect. A full application triggers a hard inquiry.
Fixed or variable rate?+
A fixed rate stays put for the life of the loan. A variable rate starts lower but moves with the market. If you'd struggle with a payment increase, fixed is the safer choice.
Can I release my cosigner later?+
Some lenders allow it after a set number of on-time payments and a credit check. Ask about the exact requirements before you borrow.
Is refinancing the same as consolidation?+
No. A federal Direct Consolidation Loan combines federal loans and keeps federal protections, but doesn't lower your rate. Refinancing is a new private loan that can lower the rate and removes those protections. They solve different problems.
What happens to my refinanced loan if I lose my job?+
That's up to the lender's hardship policy, which varies widely. Ask how many months of forbearance are offered, whether interest keeps accruing, and what you must document. Use the calculator on this page to see what a few months of deferred interest adds to the total.
Sources
Company websites are where the product details start, not where our review ends. A company’s description of itself isn’t evidence of quality.
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