Home / Guides / Best Student Loan Refinance Companies (2026)
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Refinancing a FEDERAL student loan into a private one permanently deletes federal protections: income-driven repayment, forbearance options, and any current or future forgiveness programs. If there is any chance you will need those, do not refinance federal loans. This guide is for private loans, and for federal loans only when the math is unambiguous.
Last updated: September 28, 2026. Rates move with the market - check live rates; all three offer soft-pull prequalification.
Lender | Loan range | Terms | Standout | Offer |
SoFi | $5,000+ | 5-20 years | Member perks, autopay discount | |
Earnest | $5,000+ | Pick-your-term precision | Custom terms to the month | |
Laurel Road | $5,000+ | 5-20 years | Professional-degree focus |
Competitive rates, no fees, unemployment protection, and the strongest member ecosystem in the category. For a straightforward refi of private loans by a borrower with solid credit and income, SoFi is the first rate to check.
Earnest's signature move is term precision: instead of forcing 5/10/15/20-year buckets, you pick the exact monthly payment or term length and the rate prices to it. For borrowers optimizing total interest to the dollar, no one else gives this much control.
Built around doctors, dentists, lawyers and other high-balance professional degrees, with underwriting that understands residency-era income and six-figure balances. Less compelling for smaller or undergraduate-only debt.
Refinancing pays off when the new rate is low enough that interest savings beat any fees and any protections surrendered. On a $60,000 balance, dropping from 8% to 5.5% on a 10-year term saves roughly $8,000 in interest. On a 1% improvement, the same balance saves under $3,500 - and if that loan is federal, you bought those savings with your safety net. Run your actual numbers before falling for a headline rate.
What credit score do I need? Approvals cluster at 650+; the advertised low rates assume 750+ or a strong co-signer.
Can I refinance more than once? Yes - there is no limit. If rates fall or your credit improves, refinancing again costs nothing at these lenders (no origination or prepayment fees).
Fixed or variable? Variable starts lower and can rise. For terms under ~7 years in a falling-rate environment it can win; for long terms, fixed is the safer default.