2021 NerdWallet Best-of Awards Winner for Best Student Loan Refinancing Overall
2021 NerdWallet Best-of Awards Winner for Best Student Loan Refinancing Overall


Learn All About Purefy’s 4 Best Student Loan Refinance Lenders

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Refinancing your student loans is often a smart financial move that carries the potential to significantly improve your college debt situation.

But like with any other big decision related to your money, you’ll want to carefully consider your options before moving forward. This includes shopping around for the best student loan refinance lenders to do business with. 

On the bright side, Purefy is here to speed up and simplify that process with our marketplace of top lenders. There are plenty of student loan refinancing companies with top-notch reputations and low rates – and Purefy brings those options to you in one place.

It’s important to note, however, that not all lenders are created equal. Each is unique in what they have to offer, as well as their requirements for eligibility.

Here’s what to know about 4 of the best student loan refinance companies available today.

Purefy’s 4 top student loan refinance companies

You’ve got a wide variety of options to choose from when shopping for the best student loan refinancing rate. Here are a few top student loan refinance lenders you may want to consider on your refinancing journey. 

PenFed Credit Union

PenFed Credit Union was established in 1935 and currently has over 1.6 million members, making it one of the largest, most trusted credit unions in the country. PenFed offers competitive rates, the ability to transfer loans between a child and parent, and a unique Spouse Loan product which allows married couples to refinance together. PenFed does not offer autopay discounts – you can compare their undiscounted rates to the discounted rates of other lenders. Temporary and permanent financial hardship is available.


Earnest is an online lender that has firmly established itself as one of the top options for student loans, with over $11.6 billion in refinanced student loans and more than 130,000 customers. Earnest offers low rates, customizable terms of any length between 5 and 20 years, a high max loan limit of $500,000, and in-house servicing. Earnest offers a 0.25% autopay discount. Up to 12 months of financial hardship deferment is available.

ISL Education Lending

ISL Education Lending offers loan nationwide. ISL, formerly known as Iowa Student Loan, is a nonprofit organization focused solely on student loans, and over the past 40+ years has helped over 400,000 people with their student loans. With excellent fixed interest rate offers, flexible repayment terms, and special armed forces discounts, ISL is a trusted choice for student loan refinancing. ISL offers a 0.25% autopay discount. Options available to postpone payments due to qualifying financial hardship.

College Ave

College Ave is exclusively dedicated to student loans and helping borrowers reduce student loan stress. They’re a highly rated online lender with a wide variety of terms – anywhere between 5 and 20 years – to allow for a customized repayment plan. College Ave offers a 0.25% autopay discount. Up to 12 months of financial hardship forbearance is available.

Is Student Loan Refinancing Right for You?

Find out how much you can save with these top lenders

Precision Pricing: Pick Any Term Between 5—20 Years

Fixed Rate:

2.50% - 5.79% APR

Variable Rate:

1.88% - 5.64% APR


5 - 20 years

Minimum Income:

No minimum

Loan Limits:

$5,000 - $500,000

Refinance Student Loans With Your Spouse

Fixed Rate:

2.89% - 5.63% APR​

Variable Rate:

2.13% - 5.25% APR​


5, 8, 12, or 15 years

Minimum Income:

No minimum

Loan Limits:

$7,500 - $300,000

Loans Available Nationwide — Not Just for Iowans

Fixed Rate:

2.74% - 6.42% APR​

Variable Rate:

Not offered


5, 7, 10, 15, or 20 years

Minimum Income:

No minimum

Loan Limits:

$5,000 - $300,000

The key perks of refinancing student loans

Why refinance student loans? There are several reasons why borrowers might choose to refinance their college debt. 

Interest savings

Refinancing your student loans can yield big savings over time, especially if you are currently dealing with a high interest rate. By securing a lower interest rate with lenders, you can lower your monthly payment and end up saving hundreds or thousands of dollars throughout the course of your loan. The best part? Refinancing will cost you nothing other than the time it takes to shop around for the best rates and apply. 

Longer repayment term

The ability to renegotiate loan terms is one of the biggest reasons borrowers consider student loan refinancing. If you are currently having trouble managing your student loan payment on top of your other expenses, a longer repayment term may mean a lower monthly payment. This can save borrowers money and stress over time. 

Shorter repayment term

Financial hardship isn’t the only reason to refinance student loans. In fact, refinancing can prove a solid solution if you’re hoping to take control of your finances and ditch your student debt once and for all. For example, you may be earning more than you anticipated when first signing on for student loans, meaning you can afford to pay more each month. Doing this can help you pay down your student debt faster, getting you one step closer to that debt-free lifestyle many borrowers aim for. By renegotiating your loan terms and shortening your repayment period, you can end up saving money in the long run. 

Student debt consolidation

It’s possible that you took out loans from several different lenders when paying for your college tuition. While this may have made sense when you first signed on for loans, you may find that these payments can be tough to keep up with over time. You can simplify your finances by consolidating your student loan debt, taking on one monthly payment instead of paying multiple lenders each month. This can not only save you money, but help minimize the mental stress associated with juggling so many monthly payments.

How to compare the best refinance lenders in minutes

Student loan refinancing can be complex. When it comes to refinancing, knowledge is power. The more you shop around, the more likely you are to secure refinancing rates and terms that work for you.

Comparing the top student loan refinance companies doesn’t have to be an arduous process, either.

Our Compare Rates tool makes the process easy and fast. In less than 2 minutes, you can see your best rates from the best lenders – all in one place with no impact to your credit or hidden fees.

Once you determine which lender is best for you, you can apply in under 15 minutes and get started with the refinancing process. By taking charge of your finances through refinancing, you’ll be one step closer to that debt-free lifestyle you’ve always dreamed of.

Find savings from the best lenders with Purefy

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Student Loan Refinance Interest Rates

Hit a Historical Low

Today’s refinance rates are lower than ever, but that won’t last long. Lock in a historic low rate before they rise again.

Student Loan Refinance Interest Rates

Hit a Historical Low

Today’s refinance rates are lower than ever, but that won’t last long. Lock in a historic low rate before they rise again.