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1,500+ users chose Credible this week
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Credible Highlights

  • Credible finds you the lowest student loan refinance rates in 2 minutes, totally for free

  • Get $200 cash if you find a better rate! Credible has a best rate guarantee. Terms apply.

  • Credible is great for getting a cash bonus, but Credible is also great because they also have live customer service to help with your refinance request
  • Credible never sells your information or bombards you with spam calls, emails, etc.

  • Fill out a quick simple form (2 mins)

  • Completely free to use Credible and will NOT impact your credit score
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MEFA Highlights

  • Compare low fixed and variable interest rates from MEFA

  • Flexible 7-, 10-, and 15-year repayment terms

  • You don't have to have graduated to refinance with MEFA
  • Completely free to search rates with MEFA through Credible and will NOT impact your credit score

  • Fill out a quick simple form (2 mins)

  • Credible never sells your information or bombards you with spam calls, emails, etc.
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Splash Financial
  • Loan Size: $5K - $500K
  • No Credit Impact to Apply
  • Same-day application
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Splash Financial Highlights

  • Splash uses credit unions to offer lower rates than traditional banks

  • 95% of Splash Financial borrowers are satisfied with their new rate

  • Refinance through Splash Financial and you can receive a $250 cash bonus!
  • Live customer support to help with you refinance request

  • Completely free to refinance with Splash, no hidden fees

  • No impact to your credit score for checking rates
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GET MY RATE visit Earnest
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Earnest Highlights

  • Dedicated "client happiness" team is available via call, text, or email

  • No hidden fees and very flexible payments

  • Earnest takes other factors into consideration beyond your credit score, like your savings, career trajectory, and more
  • Great for borrowers with less than a perfect credit score

  • Over 100,000 clients with 8.6 billion in refinanced student loans

  • No impact to your credit score for applying
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GET MY RATE visit CommonBond
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CommonBond Highlights

  • CommonBond offers low student loan refinance rates with no strings attached

  • A great feature of CommonBond is up to 24 months of forbearance over the lifetime of your loan

  • No prepayment penalties if you decide to payoff your loan early
  • Social impact: when you refinance your loans with CommonBond, the company covers the cost of a child's education in a developing world

  • Live customer service to assist with refinancing Monday - Friday 9am to 8pm EST

  • Completely free to use CommonBond and will NOT impact your credit score
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GET MY RATE visit LendKey
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LendKey Highlights

  • LendKey offers a super fast application, with flexible refinance terms
  • No impact to your credit score for checking rates
  • No fees or prepayment penalties
  • Reduce interest rate by 0.25% by signing up for automatic payments
  • Direct student loan refinancing company
  • LendKey uses a diverse network of banks and credit unions to offer ultra low rates
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Which Student Loan Refinance Company Should I Pick?

Although it’s hard to go wrong with any of the top-rated student loan refi companies on this page, these are the top two choices for 2020:

Student loan refinance rates are not the same for everyone. The exact refinance rate you are eligible for depends on your credit score, income, degree, and selected loan terms, i.e. 5 years or 20 years.

Overall, Credible is the easiest way to get your absolute lowest student loan refinance rates, because after filling out the 2 minute form, they search 10 different student loan refinance lenders, and you can pick the lender with the lowest rates for you.

1. Credible

  • Best for: Getting a low student loan refinance rate
  • Cost to Refinance: None
  • Impact to Credit Score: None
  • Types: Grad, Undergrad, Private, & Federal

Credible is the best choice to refinance student loans in 2020, because it’s completely free to use, and will give you up to $200 if you find a better rate. The application process is also extremely simple and quick.

You’ll have to answer some basic questions about your degree and income, but it’s very straightforward. The best part is that Credible does not sell your information whatsoever. It’s completely free to check your rate with Credible, and if you have any questions customer support is available to help via phone, text, or email.

Visit Credible to start your refinance.


  • Best for: No Fees & Great Customer Service
  • Cost to Refinance: None
  • Impact to Credit Score: None
  • Types: Grad, Undergrad, Private, & Federal

MEFA is also a fantastic choice to refinance your student loans. MEFA works with a large US network of banks and credit unions to offer even lower rates than a single bank ever could.

MEFA also offers live customer support from 9am to 6pm EST Monday through Friday!

Visit MEFA to start your refinance.

What Student Loans are Eligible?

Both graduate and undergraduate student loans can be refinanced. Private and federal student loans can be refinanced as well.

Why Should I Refinance My Student Loans

Simply put, refinancing student loans is one of the easiest ways you can save money by doing nothing. Chances are, when you got your student loan, whether it was last year or 20 years ago, rates have fallen since then.

Recently, the Federal Reserve slashed interest rates to 0.00%. This is great news for those with student loans, but only if you take advantage of the lower rates with a refinance.

This is why refinancing is so important. It won’t cost you anything, and you’ll instantly lower your APR, which equates to lower monthly payments and more money in your pocket. For example, if your current student loan APR is 4% on a loan balance of $100,000, and you refinance to 2%, you’ll save $2,000 per year just by refinancing!

At the end of the day, refinancing your student loans is a no-brainer. Essentially, you’re replacing a higher interest rate with a lower interest rate, and this means you’ll save more money!

Main Benefits of Refinancing

Here are the key reasons why refinancing student loans is paramount:

  • You can save thousands of dollars over the course of your student loan
  • Potentially pay off your student loan faster
  • Removing a cosigner is easy when refinancing
  • Lower APR = more savings for you
  • No harm to your credit score to see if you qualify

According to Brookings University, there’s currently $1.5 trillion in student loan debt in America. This is a shockingly large number, but what’s often neglected is the interest rate that Americans are paying on their student loan debt.

It’s simply a fact that the majority of the $1.5 trillion in student loans is not currently financed at the best available APR. That’s why it’s so important to always stay on top of your finances and check to see if you’ll save money by refinancing your student loans.

A Little About Student Loan Refinancing

One of the most common misconceptions about refinancing student loans is that applying or refinancing will somehow negatively effect your credit score.

This is completely false. For the student loan refinance companies listed on this page, there is no harm to your credit score for checking your refinance rate or applying. In fact, your credit score can actually improve when you successfully refinance because you’ll pay less every month and ensure that you’ll always be able to make your payments on time.

You can also refinance as many times as you want. Remember, since that the Federal Funds interest rate, the benchmark interest rate set by the United States Federal Reserve, is currently 0.00%, interest rates can really only go up from here.

Recap: Best Student Loan Refi Companies 2020

Top-Rated for Student Loans
No Hidden Fees
Won’t Harm Credit Score
Student Loan Refinance Company Visit Site
Student Loan Refinance Company Best For
Best overall choice for refinancing student loans in 2020. Credible will search a network of 10 student loan lenders to find you your best refinance rate, all completely for free and without telemarketing calls or emails.
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