Best Student Loan Refinance Companies

Student loan refinances when a student changes private loan lenders and jumps from one company to another. In such a situation, the new lender will pay off the old debt and then offer you a better bargain and interest rate, which will be more suitable for you as a student.

When the new company pays for your old loan (that you choose for refinance), you will get an interest rate tied to your credit history, more characteristics, and income.

You can get refinance private and federal student loan servicers into one personal loan.

With this refinance option, you can save more by making the right choice in the right circumstances. Therefore, you can choose the smart option for your student loan.

If you have a good credit history and a stable income with high-interest rates (with your current lender), then it is a good idea to consider student loan refinancing. Because it will benefit you because having a lower rate, in some cases, even the Federal Plus loans can be refinanced if your parents took help from a company or bank to pay for your college. This way, they will be relieved from the payment responsibility.

In this blog, we will talk about some of the best student loan consolidation companies that can help make refinancing easy for you.

Best student loan refinancer lenders

Rhode Island Student Loan Authority

Rhode Island Student Loan Authority (RISLA) is a nonprofit company based in Rhode Island. If you write a student loan application to them, then they can help you with refinancing loans across the country. This company is our first choice because of its income-based repayment program. They limit the payments to 15% of the revenue for the borrowers for at least a 25-year plan. They have made this their rule because RISLA understands that students can’t always afford to pay the loan in big chunks. They offer the lowest student loan refinance rates with fixed interests.

PenFed Credit Union

PenFed is an abbreviation of Pentagon Federal Credit Union that offers loan refinancing in partnership with Purefy. Purefy is an online student loan provider famous among students because of its flexibility and low rates. So, if you are wondering what is a good student loan interest rate? Then you should get in touch with PenFed Credit Union as they ask for a low-interest rate.

With this company, you can also refinance your parents’ PLUS loan and take full responsibility for their loans. Similarly, spouses can refinance separate student loans into a single person loan.

You can also become a PenFed Credit Union member once you get a preapproved sign for the loan. However, there are no restrictions on the membership for the refinance members, and the joining fees are also minimal.


SPLASH is one of the financial loan companies that offers the lowest rates on student lines. SPLASH offers variable and fixed rates that students can choose from. The student loan percentage you can get from this company is as low as .25%

There are many loan terms available; 5, 8, 10, 15, and 20 years and your minimum loan must be $5000 in the loan if you want to get refinance with SPLASH financial company.

The best thing about this company is that there is no minimum loan, and they don’t charge you extra fees, be it origination or application fees, etc.

Citizen Bank

With Citizen Bank, you can borrow and refinance student loans even if you don’t have a degree. For student loan debt amount from Citizen bank, you don’t have to graduate from the school. They are one of those national lenders.

If it were not for Citizen Bank, you would find it difficult to get a lender without passing out from the school. They also offer you many perks like:

  • Automatic payment discount: You will get an additional .25% off the interest rate with automatic payments.
  • Loyalty discount: if you have more than one account at Citizen Bank, you will be entitled to an additional .25% reduction on the interest rate.
  • Consigner release: after making 36 consecutive (timely) payments, you will qualify as a consigner being removed from the loan.


Refinancing your student loan is a wonderful way to save money and hasten your debt payment. There is a perfect lender for everyone, and we hope that you find an ideal lender company through our blog.