Thu. Dec 1st, 2022

top student loan refinance companies

If you are in need of help paying off your student loans, consider consolidating your debt through student loan refinancing. There are a few different companies that offer refinancing solutions. These include LendKey, SoFi, Splash, PNC, and LendKey. You can learn more about each one below. Once you find the right refinancing company for your needs, you’ll be well on your way to a debt-free future.

LendKey

If you’re looking to consolidate federal and private student loans, the LendKey student loan refinance company is a good option. This company matches applicants with lenders, and offers a 4-year interest-only payment plan for recent college graduates. In addition to offering low interest rates, LendKey also offers an autopay discount of up to 0.25%. And since they don’t charge any origination fee, you can apply for a loan without stressing out about your credit.

SoFi

If you are thinking about student loan refinancing, you may have heard about SoFi. This company allows parents to transfer their student loans to their names. However, you must meet the qualifications on your own, or obtain a cosigner. The company does not specify the specific requirements, but they do recommend getting a cosigner. Read on to learn more about the SoFi student loan refinance company and whether or not it is right for you.

Splash

If you have been in debt for years, you might be interested in finding a Splash student loan refinance company. Splash focuses on private loans, but you can also use their services if you have federal student loans. To apply for a loan, you must be a U.S. citizen or a permanent resident of the country. This loan refinancing company does not conduct a hard credit check.

PNC

The PNC Bank offers a variety of options for borrowers who want to refinance their student loans. Students can opt for a fixed interest rate and have the same monthly repayment amount. Or they can choose a variable interest rate and change the monthly payment amount every month. PNC borrowers can also enroll in auto-pay and enjoy a 50% interest rate deduction. Undergraduates can borrow up to $50,000 from PNC. Graduates can borrow up to $65,000.

SELF Refi

SELF Refi offers a variety of student loan refinancing options. A student with a bachelor’s degree can borrow up to $50,000, while a student with a diploma can borrow up to $25,000. The rates for each loan type vary depending on the loan term and debt-to-income ratio. The chart below shows current available rates for borrowers. Rates are updated each January, April, July, and October. The minimum credit score is 700, but if the applicant has a co-signer with a FICO score of 650 or higher, that’s a plus.

Navy Federal

There are several reasons to choose Navy Federal as one of the top student loan refinance firms. First, the maximum loan amount for a graduate student is $160,000, a significant difference from the undergraduate limit of $75,000. Second, if you want to save on interest, you can reduce your loan amount to match the cost of attending school. Third, you can take advantage of loan deferments. Navy Federal also allows you to extend your repayment term, although the maximum amount is slightly higher.

Laurel Road

Laurel Road offers a variety of student loan refinancing options for borrowers seeking to save money on interest rates. Its low interest loans are tied to variable rate and fixed rate loans, which means that a low APR can mean lower monthly payments. However, a variable rate means that your payments can increase, and you may end up paying more in interest than you originally planned. To avoid this problem, the company caps its variable APR at 9% for five to ten years of loans.

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