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Purefy’s experts have decades of experience in student loans and have identified the best companies for student loan refinancing. In addition to competitive interest rates, we’ve evaluated them on the following attributes: reputation/trust, security, transparency, fees (or lack thereof), flexible repayment terms, and forbearance options.

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Benefits of Refinancing Your Parent PLUS Loans

Did you know that you can refinance Parent PLUS loans? For parents who took out loans to help their children go to college, this can be an easy way for qualified borrowers to reduce their interest rate and pay off their loans sooner.

Whether you want to pay off your loans quickly, free up more room in your monthly budget, or even transfer your Parent PLUS loans to a child, student loan refinancing can help you accomplish your financial goals — and simplify your finances.

Reduce Parent PLUS Loan Rates

ultimately saving you money on interest costs over the life of your new refinanced loan.

Pay Off Your Loans Faster

with a lower interest rate — and flexible repayment terms.

Merge Your Student Loans into One

giving you a single monthly payment instead of multiple payments to worry about.

Lower Your Monthly Payment

free up cash to focus on other goals and have a more manageable student loan payment.

We’re here to simplify student loan refinancing.

How Purefy Works: Our Rate Comparison Process

Join the 273,000 people and counting who have compared student loan refinance rates with Purefy.

01

Complete Form – 2 Minutes

Fill out basic details about your student loan situation.

easy-rate-check

02

Compare Rates – 15 Seconds

See real, pre-qualified rates from a variety of nationwide lenders – tailored to your specific loan situation.

select a lender

03

Submit Application – 15 Minutes

Pick your favorite combination of rate, term, and monthly payment – and head straight to our lender partner for confirmation.

Parent PLUS Loan Refinance:
Interest Rates, Lenders, and Terms

Fixed Rate

4.83% – 7.64% APR 4

Variable Rate

3.99% – 7.24% APR 4

Purefy Rating

View Details

Why We Selected It

Maximum Loan Amount

No Max

Degree Requirement

Bachelor's or higher

Minimum Credit Score

680

Forbearance

Up to 12 months relief for financial hardship or medical difficulty

Repayment Terms

5, 7, 10, 15, or 20 years

Cosigner Release

No

Customer Feedback

“The whole process with Education Loan Refinance was simple and quick! You get your own personal loan advisor that communicates with you every step of the way. Stan Mitchell was my advisor and was excellent! Thanks ELFI!”
Tammy A.
TrustPilot
efli-lender

Purefy Rating

Fixed Rate

4.83% – 7.64% APR 4

Variable Rate

3.99% – 7.24% APR 4
View Details

Why We Selected It

Maximum Loan Amount

No Max

Degree Requirement

Bachelor's or higher

Minimum Credit Score

680

Forbearance

Up to 12 months relief for financial hardship or medical difficulty

Repayment Terms

5, 7, 10, 15, or 20 years

Cosigner Release

No

Customer Feedback

“The whole process with Education Loan Refinance was simple and quick! You get your own personal loan advisor that communicates with you every step of the way. Stan Mitchell was my advisor and was excellent! Thanks ELFI!”
Tammy A.
TrustPilot

Fixed Rate

4.49% – 8.99% APR 3

Variable Rate

5.09% – 8.99% APR 3

Purefy Rating

View Details

Why We Selected It

Maximum Loan Amount

No Max

Degree Requirement

Associate or higher

Minimum Credit Score

650

Forbearance

Forbearance available

Repayment Terms

5, 7, 10, 15, or 20 years

Cosigner Release

After 24 months

Customer Feedback

“Excellent and quick process. I found the website was fairly easy to navigate. Additionally EVERY person I spoke with was courteous, helpful, and professional.”
Greg
TrustPilot

Purefy Rating

Fixed Rate

4.49% – 8.99% APR 3

Variable Rate

5.09% – 8.99% APR 3
View Details

Why We Selected It

Maximum Loan Amount

No Max

Degree Requirement

Associate or higher

Minimum Credit Score

650

Forbearance

Forbearance available

Repayment Terms

5, 7, 10, 15, or 20 years

Cosigner Release

After 24 months

Customer Feedback

“Excellent and quick process. I found the website was fairly easy to navigate. Additionally EVERY person I spoke with was courteous, helpful, and professional.”
Greg
TrustPilot

Fixed Rate

4.47% – 8.99% APR 2

Variable Rate

4.47% – 8.94% APR 2

Purefy Rating

View Details

Why We Selected It

Maximum Loan Amount

$500,000

Degree Requirement

Associate or higher

Minimum Credit Score

650

Forbearance

Up to 12 months relief for financial hardship

Repayment Terms

5-20 years

Cosigner Release

No cosigners allowed

Customer Feedback

“The best thing about this company is that, while an online portal is extremely convenient, the borrower wants to feel that there are actual humans involved when problems occur. Earnest really gave me that human touch and figured out how to work through some issues that concerned me. Earnest earned its five stars from me. I recommend this company.”
Michele W.
TrustPilot
earnest

Purefy Rating

Fixed Rate

4.47% – 8.99% APR 2

Variable Rate

4.47% – 8.94% APR 2
View Details

Why We Selected It

Maximum Loan Amount

$500,000

Degree Requirement

Associate or higher

Minimum Credit Score

650

Forbearance

Up to 12 months relief for financial hardship

Repayment Terms

5-20 years

Cosigner Release

No cosigners allowed

Customer Feedback

“The best thing about this company is that, while an online portal is extremely convenient, the borrower wants to feel that there are actual humans involved when problems occur. Earnest really gave me that human touch and figured out how to work through some issues that concerned me. Earnest earned its five stars from me. I recommend this company.”
Michele W.
TrustPilot

Fixed Rate

6.94% – 11.58% APR 5

Variable Rate

Not Offered

Purefy Rating

View Details

Why We Selected It

Maximum Loan Amount

$300,000

Degree Requirement

No degree required

Minimum Credit Score

670

Forbearance

Options to postpone payments due to qualifying financial hardships

Repayment Terms

5, 7, 10, 15, or 20 years

Cosigner Release

After 24 months

Customer Feedback

“We did not encounter anyone that was not willing to help! Every person we talked to took as much time as we needed with questions and just helping us to feel relaxed and good about the choices we were making. It was a very good experience and we are extremely thankful for the help and time we were given.”
Linsey
TrustPilot
ISL-Education-Lending

Purefy Rating

Fixed Rate

6.94% – 11.58% APR 5

Variable Rate

Not Offered
View Details

Why We Selected It

Maximum Loan Amount

$300,000

Degree Requirement

No degree required

Minimum Credit Score

670

Forbearance

Options to postpone payments due to qualifying financial hardships

Repayment Terms

5, 7, 10, 15, or 20 years

Cosigner Release

After 24 months

Customer Feedback

“We did not encounter anyone that was not willing to help! Every person we talked to took as much time as we needed with questions and just helping us to feel relaxed and good about the choices we were making. It was a very good experience and we are extremely thankful for the help and time we were given.”
Linsey
TrustPilot

Parent PLUS Loan Refinance Basics

First, what is student loan refinancing? Refinancing allows you to take out a loan from a private lender that covers the cost of your current debt. The new loan is completely different from your old ones — with a new repayment term, interest rate, and monthly payment. And, if you had multiple student loans before, refinancing gives you just one loan and one monthly payment going forward.

Refinancing your Parent PLUS loans and lowering your current interest rate can be a very big deal for your finances — especially considering Parent PLUS Loans typically have the highest interest rate of any federal student loan. Your student loan balance can quickly balloon with such a high rate, making refinancing Parent PLUS Loans a smart financial decision for many families.

To get started with refinancing, use Purefy’s rate comparison tool. You’ll quickly and easily compare your actual student loan options from a tightly vetted list of refinance companies — all with one simple form.

Our lenders have sterling reputations and offer loans with no origination fees or prepayment penalties. The rate comparison tool will show your rate and monthly payment options with absolute transparency, allowing you to make an informed decision that meets your financial needs.

Some of our lenders also allow parents to transfer their Parent PLUS and private student loans into their child’s name — which can be a great way to help your children take charge of their education and start building up a credit history.

Top Reasons to Refinance Parent PLUS Loans

Save Money
All Parent PLUS loans get the same high fixed interest rate regardless of your credit score. This rate is set every year by the federal government. For example, the rate for the 2018-2019 school year was 7.60%.

If you choose to refinance with a new provider and have good credit, you may find that you qualify for a substantially lower interest rate on multiple student loan options — saving you a large sum of money in the process of paying off your new loan.

Get One Simple Payment
Refinancing also serves as a Parent PLUS loan consolidation. If you have multiple loans (federal or private) they are all combined into one easy-to-manage loan, with just one monthly payment to your new provider.

Reduce Your Monthly Payment
Struggling to afford your current monthly payment? Refinancing can help with that, too.

When you refinance, you get a chance to choose a new loan repayment term and can opt for a longer term that reduces your payment each month. This flexibility lets you dial in your monthly payment exactly how you want it, so you can be more comfortable with the rest of your financial responsibilities.

For example, if you had $30,000 in student loans at 7.08% interest and a 10-year repayment term, your minimum monthly payment would be $350.

If you refinance your loans, keep your same interest rate, but extend your repayment term to 15 years, your payment would drop to only $271 per month. Refinancing would free up an extra $79 in your monthly budget.

Extending your repayment term can cause you to pay more in interest over time, but it may be worth it to get some extra breathing room each month to help with other necessary expenses.

Parent PLUS Loan Consolidation vs Refinancing Parent PLUS Loans

While refinancing can be a powerful tool for managing your Parent PLUS loans, there are some drawbacks to consider.

When you refinance Parent PLUS loans, you lose federal student loan benefits such as:

  • Deferment or Forbearance
  • Income-Driven Repayment Plans
  • Public Service Loan Forgiveness Program

If these federal benefits are important to you, an alternative option to refinancing is consolidating Parent PLUS loans with the federal government through a Direct Consolidation Loan.

This program consolidates all your federal loans, and the new rate is based on the weighted average of your current loans. So, although you’ll only have one loan and monthly payment to manage, there’s little chance you will save money on interest costs compared to the savings possible through refinancing.

It’s also worth noting that federal Parent PLUS loan consolidation does not let you combine your federal loans with your private student loans. For that, you would need to refinance.

What to Expect When You Apply

If you decide to refinance Parent PLUS Loans, use Purefy’s rate comparison tool first to view offers from multiple lenders, with just one simple form, and find your best rate.

To be eligible for Parent PLUS Loan refinancing, you’ll need to meet the following criteria:

  • Have a strong credit history
  • Have at least one outstanding education loan
  • Have steady income

Qualified borrowers may be offered significantly better rates and terms than they currently have on their Parent PLUS Loans, based on their creditworthiness including credit score, income, debt-to-income ratio, and other factors. If you have bad credit, you may be able to qualify by adding a creditworthy cosigner to your application.

Once you have decided on your lender of choice for your Parent PLUS loan refinance, you will be taken to that lender’s application, which can generally be completed in less than 15 minutes.

You’ve gone through enough loan application processes to know what to expect, but one tip is to have your current loan statements handy when applying — the lender will want to know the details.

If you are preapproved, you will need to submit documents to verify the information on your application, including:

  • ID
  • Paystub
  • Loan statements and other possible documentation, depending on the lender’s guidelines

All in all, the process is usually a bit more rigorous than something like an auto loan. To offer such low rates on unsecured loans (loans with no collateral), the lender’s underwriters must do their due diligence.

How to Pay Off Parent PLUS Loans Quickly

A Lower Rate
Have good credit? By refinancing your Parent PLUS loans — which have a high standardized interest rate — you can qualify for a much lower rate to save a lot of money on interest costs.

This can help you pay off your debt faster, too. If you’re saving money through a lower interest rate, you can put the extra cash toward additional prepayments, to pay off your loan more quickly — while maintaining the safety net of the same 10-year repayment term in case other expenses take priority.

For example:
Let’s say you had $30,000 in Parent PLUS Loans at 7.08% interest and a 10-year repayment term. Over the course of your repayment, you’d pay a total of $41,948.

However, if you refinanced your loans and qualified for a 10-year loan at 5% interest, you’d repay just $38,184.

By just refinancing your debt, you’d save over $3,700 in extra funds that can be used to increase your monthly payments and get rid of your debt sooner.

A Shorter Term
An alternative option is to simply refinance your Parent PLUS loans to a shorter total repayment term, coupled with your reduced interest rate. Shorter repayment terms also typically come with even lower rates, as an added bonus.

This method will set you up for faster repayment success. You’ll have a higher must-pay monthly payment, but also a much smaller total debt thanks to your lower rate — allowing you to ultimately pay less while putting you on course to shed your debt in less than 10 years.

.

Original Loan at
7.08% Interest

Refinance Loan
at 5% Interest

Loan Amount

$30,000

$30,000

Repayment Term

10 years

10 years

Monthly Payment

$350

$318

Total Interest Paid

$11,948

$8,184

Total Repaid

$41,948

$38,184

Refinancing Parent PLUS loans to child

An excellent benefit of refinancing Parent PLUS loans is the ability to refinance them from your name to your child’s.

If you took out Parent PLUS Loans to help your child pay for school, those loans are entirely in your name which can be a serious burden. That means you’re solely responsible for repaying them, and with high interest rates, the loans can be expensive and difficult to repay. Plus, having them on your credit report can affect your ability to qualify for other forms of loans, such as a mortgage.

If your child is doing well in their career and is earning enough money to take over the loans, you may be able to transfer the loans into their name through student loan refinancing.

By using this strategy, your child will then be responsible for the loan, and you would no longer be obligated to repay the debt — allowing you to focus on your other financial goals.

If your child has bad credit and doesn’t qualify on their own, you may also consider cosigning on a refinance loan with them. Some lenders, like PenFed Credit Union, offer both parent plus transfer capabilities as well as a cosigner release program, which could remove you from the loan after a certain period of time, after your child’s credit has improved.

How to choose the best Parent PLUS loan refinance option

Ready to easily find your top refinancing option?

Using our rate comparison tool , you can quickly tell which lenders are offering the best rate that is tailored to your financial profile — no teaser rates or “bait and switch” with Purefy.

You can use our sortable chart to see your best rates, and by entering your current loan details, you can compare monthly payments at the various term lengths on offer — whether you’re looking for a shorter or longer repayment term.

If you’re currently dealing with Parent PLUS Loans and a high interest rate, student loan refinancing can be a useful strategy to help you save money, reduce your monthly payment, or even to transfer them to your child.

We also have a team of personal loan advisors who are available to help you through the process. If you have any questions, you can contact us by phone at 202.524.1115 or by email at [email protected]

.

Parent Loan Refinance FAQs

Refinancing allows you to take out a loan from a private lender that covers the cost of your current debt. The new loan is completely different from your old ones — with a new repayment term, interest rate, and monthly payment. And, if you had multiple student loans before, refinancing gives you just one loan and one monthly payment going forward.

Parents with student loan debt can refinance federal Parent PLUS Loans, private student loans from a bank or other financial institution, or a combination of the two.

Yes, you can refinance Parent PLUS Loans, and/or private student loans that you may have taken out for your child. Refinancing can be an easy way for qualified parents, who took out loans to help their children go to college, to reduce their interest rate and pay off their loans sooner.

Whether you want to pay off your loans quickly, free up more room in your monthly budget, or even transfer your Parent PLUS loans to a child, student loan refinancing can help you accomplish your financial goals — and simplify your finances.

Refinancing your Parent PLUS loans and lowering your current interest rate can be a very big deal for your finances — especially when considering Parent PLUS Loans typically have the highest interest rate of any federal student loan. Your student loan balance can quickly balloon with such a high rate, making refinancing Parent PLUS Loans a smart financial decision for many families.

If you have good credit and steady income, you may be an excellent candidate for parent student loan refinancing to save money and free yourself from student debt more easily.

Parent PLUS Loans typically have the highest interest rate of any federal student loan option. This rate is set by the federal government and is standardized across all parent loans regardless of your credit history, credit score, annual income, or debt-to-income ratio.

Because of their high interest rates, it’s crucial to think about refinancing to save significantly on interest costs and manage your loan debt much more easily. If you have good credit, it’s very possible to qualify for a substantially lower interest rate through refinancing — which can save you heaps of cash throughout the life of your loan.

You shouldn’t be stuck with high interest loans if you don’t need to be. Taking advantage of a refinance can significantly reduce your current rate, allowing you to save money on interest costs or pay off your loans much sooner.

By refinancing their student loans, parents can:

  • Qualify for a lower interest rate to save thousands on interest costs over the life of the new refinanced loan.
  • Pay off parent student loans faster with shorter repayment term options.
  • Get a lower monthly parent loan payment to have small and more manageable bills.
  • Merge all parent loans into one to have just one easy monthly payment to plan for.
  • With some lenders, parents can transfer their loans into their child’s name to free themselves from all further debt responsibility.

To be eligible for Parent PLUS Loan refinancing, you’ll need to meet the following criteria:

  • Have a strong credit history
  • Have at least one outstanding education loan
  • Have steady income

Qualified borrowers may be offered significantly better rates and terms than they currently have on their Parent PLUS Loans, based on their creditworthiness including credit score, income, debt-to-income ratio, and other factors. If you have bad credit, you may be able to qualify by adding a creditworthy cosigner to your application.

All Parent PLUS loans get the same high, fixed interest rate regardless of your credit score. This rate is set every year by the federal government. For example, the rate for the 2018-2019 school year was 7.60%.

If you choose to refinance with a new provider and have good credit, you may find that you qualify for a substantially lower interest rate on multiple student loan options — saving you a large sum of money in the process of paying off your new loan.

When refinancing your parent student loans, you can also choose a quicker repayment term than the Standard Repayment Plan of 10 years.

By choosing a shorter term, you can pay off your loans sooner and get rid of them for good — while maximizing your savings on costly interest.

Use Purefy’s Compare Rates tool to see student loan refinance offers from multiple top lenders — all in one place with one fast form. Quickly compare your interest rate and monthly payment options, as well as your lifetime interest savings, with no impact on your credit score and zero fees.

Refinancing through a private lender means that you’ll lose federal student loan benefits including deferment, forbearance, income-driven repayment, and Public Service Loan forgiveness.

If keeping one or more of these benefits is important to you, consolidating your Parent PLUS Loans through a federal Direct Consolidation Loan could be an effective alternative that still combines all your parent loans into one simple monthly payment.

However, refinancing is generally the only way to save money by getting a lower interest rate through your private lender of choice. Federal Consolidation, on the other hand, gives you a new rate that is the weighted average of all your current loans, rounded up to the nearest 1/8 or a percent.

Borrowers should be aware that by refinancing Parent PLUS Loans from the U.S. Department of Education, they may lose certain benefits offered by federal student loan programs such as deferments, forbearance, income-based repayment plans, and Public Service Loan Forgiveness.

No, there are zero fees with a student loan refinance through Purefy. Our lenders never charge origination fees, application fees, or prepayment penalties, and we don’t think you should face any additional charges for trying to save money.

There are both benefits and drawbacks to refinancing, so it’s important to consider your options before you refinance.
For example, if you work in public service and plan to take advantage of the federal Public Service Loan Forgiveness program, refinancing your parent plus loans would make you ineligible for this forgiveness. You would also no longer be eligible for other federal benefits and repayment plans, such as the graduated repayment plan.
However, if you don’t plan on utilizing these federal benefits, you may be able to secure a lower interest rate and more favorable repayment terms through refinancing. Lowering your interest rate can save thousands of dollars throughout the life of the loan and shortening your repayment term can allow you to become debt-free sooner.
Read our blog on the Pros and Cons of Refinancing Parent PLUS Loans to explore more benefits and drawbacks.

Ascent Rate Disclosure

Ascent Student Loans are funded by Bank of Lake Mills, Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentStudentLoans.com/Ts&Cs.

Rates are effective as of 02/01/2023 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized back account each month. For Ascent rates and repayment examples please visit: www.AscentStudentLoans.com/Rates.

1% Cash Back Graduation Reward subject to terms and conditions. Click here for details.

SoFi Rate Disclosure

3 SoFi Rate Disclosure:

Fixed rates range from 4.49% APR to 8.99% APR with a 0.25% autopay discount. Variable rates from 5.09% APR to 8.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates on 5-, 7-, and 10-year terms are capped at 8.95% APR; 15- and 20-year terms are capped at 9.95% APR. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.

ISL Rate Disclosure

5 Iowa Student Loan Rate Disclosure:

Fixed Rate Loan Terms: 5 years/60 monthly payments, 7 years/84 monthly payments, 10 years/120 monthly payments, 15 years/180 monthly payments, or 20 years/240 monthly payments. Annual Percentage Rate [APR] is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. This rate is expressed as an APR. Fixed APRs range from 6.94% to 11.58% APR [low to high range with 0.25% auto-debit rate reduction]. Rates are subject to change without notice. Fixed rates will not change during the term. Since there are no fees associated with this loan offer, the APR is the same percentage as the actual interest rate of the loan including a 0.25% auto-debit rate reduction. These rates are subject to additional terms and conditions, and rates are subject to change at any time without notice. All estimates are based on information provided by you and are for informational purposes only, accuracy is not guaranteed and may not reflect actual rates or savings and do not constitute an offer of credit. Your actual rate, payment and savings may be different based on credit history, actual interest rate, loan amount, and term, including your cosigner [if applicable]. If applying with a cosigner, we use the higher credit score between the borrower and the cosigner for approval purposes. All loans are subject to credit approval.

Earnest Rate Disclosure

2 Earnest Rate Disclosure:


Actual rate and available repayment terms will vary based on your income. Fixed rates range from 4.64% APR to 9.24% APR (excludes 0.25% Auto Pay discount). Variable rates range from 4.64% APR to 9.19% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. The maximum rate for your loan is 8.95% if your loan term is 10 years or less. For loan terms of more than 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95%. Please note, we are not able to offer variable rate loans in AK, IL, MN, NH, OH, TN, and TX. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account.

Advertiser Disclosure:

THIS IS AN ADVERTISEMENT. YOU ARE NOT REQUIRED TO MAKE ANY PAYMENT OR TAKE ANY OTHER ACTION IN RESPONSE TO THIS OFFER.

Earnest Rate Disclosure

Rates displayed include the 0.25% Auto Pay discount. You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 5.04% APR to 14.10% APR (excludes 0.25% Auto Pay discount). Variable rates range from 5.04% APR to 13.75% APR (excludes 0.25% Auto Pay discount). Earnest variable interest rate student loan origination loans are based on a publicly available index, the 30-day Average Secured Overnight Financing Rate (SOFR) published by the Federal Reserve Bank of New York. The variable rate is based on the rate published on the 25th day, or the next business day, of the preceding calendar month, rounded to the nearest hundredth of a percent. The rate will not increase more than once per month. Although the rate will vary after you are approved, it will never exceed 36% (the maximum allowable for this loan). Please note, Earnest Private Student Loans are not available in Nevada. Our lowest rates are only available for our most credit qualified borrowers and contain our .25% auto pay discount from a checking or savings account. It is important to note that the 0.25% Auto Pay discount is not available while loan payments are deferred.

Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.

Earnest clients may skip one payment every 12 months. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.

Loan Eligibility criteria: Eligible students must: 1) For college Freshmen, Sophomores and Juniors, attend, or be enrolled to attend, a Title IV school full-time. For college Seniors and Graduate students, attend, or be enrolled to attend, a Title IV school at least half-time; and 2) be pursuing a Bachelor’s or Graduate degree. Earnest private student loans are subject to credit qualification, completion of a loan application, verification of application information, self-certification of loan amount, and school certification.

Responsible borrowing tip: Explore all scholarship, grant and federal options before applying for a private loan.

Earnest Private Student Loans are made by One American Bank, Member FDIC. One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104.

Earnest loans are serviced by Earnest Operations LLC, 535 Mission St., Suite 1663 San Francisco, CA 94105, NMLS #1204917, with support From Navient Solutions, LLC (NMLS #212430). One American Bank and Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by agencies of the United States of America.

Advertiser Disclosure:

THIS IS AN ADVERTISEMENT. YOU ARE NOT REQUIRED TO MAKE ANY PAYMENT OR TAKE ANY OTHER ACTION IN RESPONSE TO THIS OFFER.

ELFI Rate Disclosure

4 ELFI Rate Disclosure:

Education Loan Finance is a nationwide student loan debt consolidation and refinance program offered by Tennessee based SouthEast Bank. ELFI is designed to assist borrowers through consolidating and refinancing loans into one single loan that effectively lowers your cost of education debt and/or makes repayment very simple. Subject to credit approval. See Terms & Conditions. Interest rates current as of 01/01/2023. The interest rate and monthly payment for a variable rate loan may increase after closing, but will never exceed 9.95% APR. Interest rates may be different from the rates shown above and will be based on the term of your loan, your financial history, and other factors, including your cosigner’s (if any) financial history. For example, a 10-year loan with a fixed rate of 6% would have 120 payments of $11.00 per $1,000 borrowed. Rates are subject to change.

ELFI Rate Disclosure

Education Loan Finance is a nationwide student loan provider offered by Tennessee based SouthEast Bank. ELFI is designed to assist students financially with receiving their education. Subject to credit approval. See Terms & Conditions. Interest rates current as of 10-24-2022. Variable interest rates may increase after closing but will never exceed 18.00%. Interest rates may also differ from the rates shown above. The term of your loan, financial history, and other factors, including your cosigner’s (if any) financial history can affect the interest rate. For example, a 10-year loan with a fixed rate of 7% would have 120 payments of $11.61 per $1,000 borrowed. Rates are subject to change.

College Ave Rate Disclosure

College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC.. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
Rates shown include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
Minimum loan amount $1,000, as certified by your school and less any other financial aid you might receive.
This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 02/01/2023. Variable interest rates may increase after consummation. Approved interest rate will depend on the creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
Purefy - Compare Private Student Loan Consolidation & Refinance Options Quickly & Easily
efli-lender
Purefy - Compare Private Student Loan Consolidation & Refinance Options Quickly & Easily
Purefy - Compare Private Student Loan Consolidation & Refinance Options Quickly & Easily
Purefy - Compare Private Student Loan Consolidation & Refinance Options Quickly & Easily
Purefy - Compare Private Student Loan Consolidation & Refinance Options Quickly & Easily
college ave student loans
Purefy - Compare Private Student Loan Consolidation & Refinance Options Quickly & Easily
ascent student loans

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