Compare Student Loan Refinance Rates Get Personalized Offers From Top Rated Lenders With One Simple Form. Today’s Rates Starting From 1.86% APR Starting From 1.86% APR 123Education4Finance567Personal Information8Get Your Rates First Name* Last Name* Email Address* What type of student loans are you refinancing?* Loans for my education Parent loans Where did you go to school? Why do we ask? Some lenders use your school to determine your eligibility. If you went to more than one school, list the school from which you received your highest degree. School* Graduation Date or Last Attended Date* What is your highest degree? Why do we ask? Some lenders determine your eligibility and interest rate based on the type of degree you have. Highest Degree*SelectSome college, no degreeAssociate DegreeBachelor's DegreeGraduate DegreeMedical DegreeLaw DegreeWhere did you get your undergraduate degree? Why do we ask? Why do we ask? Some lenders use your school to determine your eligibility. Please list the school where you got your undergraduate degree (e.g. Bachelors). Undergraduate School* What is your annual income? What to include? Please include all of your verifiable income. Note: Alimony, child support, or separate maintenance income need not be revealed if the Borrower or Cosigner does not choose to have it considered for repaying this loan. Do not include household income from another family member. Annual Income*How much money do you have saved/invested? What to include? Please include the total balance of your checking and savings accounts, retirement accounts, investments, and other cash accounts. Total Assets* What is your living arrangement? Why do we ask Lenders use your housing payment to determine your monthly debt and debt-to-income ratio. Your debt affects your rates and/or eligibility. Living Arrangement*SelectRent or OtherOwn with MortgageOwn without MortgageLive with FamilyMonthly Housing Expense*How much would you like to refinance? How to calculate Please include the approximate balance of the student loan debt that you wish to refinance. Loan Amount* What is your refinancing goal? Why do we ask? Please select the option that best describes the financial outcome you would like to achieve by refinancing. Faster payoff and lower lifetime interest are associated with shorter loan terms, while lower monthly payments are associated with longer terms. Refinancing Goal* Get out of debt faster. (5-8 year term) Lower my monthly payment. (12-20 year term) A little bit of both. (8-12 year term) Where do you live? Why do we ask? Please provide the address where you receive bills and other mail. Full Address* Address Line 1 Address Line 2 City State SelectAlabamaAlaskaAmerican SamoaArizonaArkansasCaliforniaColoradoConnecticutDelawareDistrict of ColumbiaFloridaGeorgiaGuamHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaNorthern Mariana IslandsOhioOklahomaOregonPennsylvaniaPuerto RicoRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahU.S. Virgin IslandsVermontVirginiaWashingtonWest VirginiaWisconsinWyomingArmed Forces AmericasArmed Forces EuropeArmed Forces Pacific Zip Code Last step! Comparing rates has no impact on your credit. How your data is protected All data is fully encrypted with the best technology available (SHA-256 with RSA Encryption). Your SSN and date of birth are only used to correctly locate your credit information. Comparing Rates Doesn’t Impact Credit Comparing rates through Purefy results in a soft check on your credit – meaning there is no impact on your credit score or credit history. Your Data Is Not For Sale Purefy does not believe in profiting from your personal information. Your data will never be sold in any way. Date of Birth* Phone Number*Citizenship*SelectU.S. CitizenPermanent ResidentSocial Security Number* Comparing rates has no impact on your credit score. By clicking the Get Your Rate button below, you understand and agree that you are providing written consent to Purefy Inc. ("Purefy") under the Fair Credit Reporting Act authorizing Purefy to obtain information from TransUnion for the purposes of providing you with refinancing options for which you pre-qualify. This is a soft inquiry, and it will not affect your credit score. Please note that this is not a loan offer and you will be required to authorize a full credit report inquiry with the lender to proceed with your application later in the process. The data and other information you may provide to Purefy is not, and is not treated as, an application for a loan or a request to be pre-approved for a loan, or any similar concept. Your phone number may be used to call or text you to check in on your application status and offer assistance. Local texting rates may apply. You may opt out at any time. Hiddenreferrerxml Hiddenformpath No impact on credit — get results in 2 minutes. Calculating your real-time rates from the industry's best lenders... purefy has been featured on Our Picks for the Best Student Loan Refinancing Companies Check My Rate (2 Mins.) Fixed Rate 3.24% – 7.99% APR 2 Term 5 -20 years 2 Minimum Credit Score 650 Variable Rate 1.89% – 7.99% APR 2 Eligible Loans Federal & Private Purefy Rating Fixed Rate 3.24% – 7.99% APR 2 Term (years) 5-20 Minimum Credit Score 650 Variable Rate 1.89% – 7.99% APR 2 Eligible Loans Federal & Private Purefy Rating Lightning-fast loan processing Up to 12 months financial hardship deferment Doesn’t offer cosigned loans Check My Rate (2 Mins.) Fixed Rate 3.99% – 6.99% APR 4 Term 5, 7, 10, 15, or 20 years 4 Minimum Credit Score 680 Variable Rate 1.86% – 7.98% APR 4 Eligible Loans Federal & Private Purefy Rating Fixed Rate 3.99% – 6.99% APR 4 Term (years) 5, 7, 10, 15, or 20 Minimum Credit Score 680 Variable Rate 1.86% – 7.98% APR 4 Eligible Loans Federal & Private Purefy Rating No maximum loan amount Up to 12 months of forbearance if you experience financial hardship Borrowers can refinance Parent PLUS loans in their own name Check My Rate (2 Mins.) Fixed Rate 3.99% – 8.24% APR 3 Term 5, 7, 10, 15, 20 years 3 Minimum Credit Score 650 Variable Rate 2.24% – 7.99% APR 3 Eligible Loans Federal & Private Purefy Rating Fixed Rate 3.99% – 8.24% APR 3 Term (years) 5, 7, 10, 15, 20 years 3 Minimum Credit Score 650 Variable Rate 2.24% – 7.99% APR 3 Eligible Loans Federal & Private Purefy Rating Free career planning, job search, and entrepreneurship support Forbearance options for financial hardship, natural disasters, and military service 98% of surveyed customers would recommend SoFi to a friend Check My Rate (2 Mins.) Fixed Rate 3.94% – 8.48% APR 5 Term 5, 7, 10, 15, or 20 years 5 Minimum Credit Score 670 Variable Rate Not Offered Eligible Loans Federal & Private Purefy Rating Fixed Rate 3.94% – 8.48% APR 5 Term (years) 5, 7, 10, 15, or 20 Minimum Credit Score 670 Variable Rate Not Offered Eligible Loans Federal & Private Purefy Rating Loans available in all states except Maine and Oregon Loan forgiveness if the borrower dies or becomes totally and permanently disabled Options to postpone payments due to qualifying financial hardships 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. 02 Compare Rates – 15 Seconds See real, pre-qualified rates from a variety of nationwide lenders – tailored to your specific loan situation. 03 Submit Application – 15 Minutes Pick your favorite combination of rate, term, and monthly payment – and head straight to our lender partner for confirmation. Compare Rates Transparent. Accurate. Safe. No Fees Purefy is 100% free to use and will never charge you a fee. Actual Prequalified Rates See today’s real-time rates that you’re prequalified for — no teasers or bait-and-switch. 100% Secure Your personal information is always protected by industry-leading SHA-256 with RSA Encryption. How Student Loan Refinancing Saves People Money $16,736 in Savings An Industrial Engineer from University of Central Florida reduced her interest expense by $16,736 from $38,396 to $21,660 Interest Rate Cut in Half A University of Cincinnati graduate saved over 3% on his interest rate from 6.24% to 2.99% $130 Lower Monthly Payment A Surgeon from Rosalind Franklin University of Medicine and Science lowered her monthly payment by $130 from $483 to $353 1% Lower Rate With Cosigner A Registered Nurse from West Coast University saved 1% on his rate and over $5k in interest by refinancing with a cosigner Student Loan Refinancing, Rate, & Comparison Basics What is student loan refinancing? Student loan refinancing is a process where you take out a new loan through a private lender for the amount of your current debt. You then use the new refinanced loan — which has a different interest rate, monthly payment, and length of repayment than your old loans — to pay off your remaining college debt. What are the pros of student loan refinancing? Save MoneyWhen you refinance, you may qualify for a lower interest rate. With a lower rate, more of your payment goes toward the loan principal rather than interest, allowing you to save a significant amount of money over the life of your new loan.Reduce Your Monthly PaymentRefinancing allows you to lengthen your repayment term, in addition to the possibility of qualifying for a lower interest rate. Either way, you could be eligible for a lower monthly payment, freeing up more money in your budget to pursue other financial goals.Pay Off Your Debt FasterWith more of your loan payment going toward the principal rather than interest, refinancing can help you pay off your debt ahead of schedule. You’ll save money while getting out of debt much more quickly.In addition, you can always choose to shorten your repayment term. This method increases your monthly payment, but puts you on track to pay off your debt faster — while reducing the amount of time for interest costs to accrue.Get One Easy PaymentDid you take out more than just one student loan? Or maybe you have a mix of both federal and private student loans? Juggling multiple loans, monthly payments, and due dates can be confusing.Refinancing can help streamline things for you by consolidating your student loans together. After refinancing, you will have just one loan to manage through one lender, and one easy monthly payment going forward. What are the cons of student loan refinancing? Lose Access to Income-Driven Repayment PlansIncome-driven repayment (IDR) plans extend your repayment term and cap your monthly payments at a percentage of your discretionary income — dramatically reducing your payments. However, once you refinance your loans, you can no longer qualify for IDR plans.If you’re in a low-paying field or your income fluctuates from year-to-year, refinancing may not be a smart option compared to keeping your federal loans with an IDR plan.Lose Chance to Enter Loans into Deferment or ForbearanceWith federal loans, you can enter into deferment or forbearance if you experience a financial hardship like an illness or job loss. Under these programs, you can postpone making payments without entering into default which gives you time to get back on your feet.Once you refinance, you typically lose out on this federal benefit, although many private lenders do offer some degree of protection. If you work in a volatile field or have recurring health issues, it could be wise to maintain the option of placing your loans into deferment or forbearance if needed.Lose Ability to Qualify for Federal Student Loan ForgivenessSome federal student loans are eligible for loan forgiveness programs such as Public Service Loan Forgiveness. But after refinancing, you can no longer qualify for loan forgiveness.If you work for a non-profit organization or government agency and plan to do so for the next ten years, it may be a smart financial decision to pursue loan forgiveness rather than student loan refinancing. What are the benefits of comparing student loan refinance rates? Considering refinancing your student loans? Your best chance of getting the best loan available is to first shop around. By using Purefy’s rate comparison tool, you can compare multiple interest rates from a variety of lenders in one place with one simple form.The tool also allows you to calculate how your monthly payments and the total cost of your current loans compare to what you may qualify for through refinancing.As you begin comparing your refinancing options, make sure to review more than just the rates. Also look at other features each lender offers such as the repayment terms, option to release your co-signer from the loan, deferment and forbearance terms, and autopay discounts.With this holistic approach, you can ensure that you’ll apply for the best loan for your unique needs with the lowest possible interest rate — allowing you to save the most money in the long term. How do I choose the best student loan refinance option? If you’re thinking of refinancing student loans, use Purefy’s rate comparison tool to view rates and terms from the best lenders, all in one place with one convenient form.Simply share a few details about yourself and your debt, and you’ll be able to shop around without needing to visit each individual lender’s website and fill out multiple cumbersome applications.It’s an easy way to compare lenders and find the best student loan refinance option for you. You’ll be presented with real, prequalified rates from a selection of quality, vetted lenders. These rates are based on your credit score and borrower profile — no teaser rates to worry about. Plus, comparing rates with Purefy has no impact on your credit score.This lets you make an informed decision. You can compare rates, terms, and monthly payments all in one easy, sortable chart. You can also try adding a cosigner, to see if that helps you qualify for an even lower rate.If you like what you see and select a lender, you will be taken to their specific loan application. It takes just seconds to find your rates, and a student loan refinance loan application generally takes less than 15 minutes to complete. Is refinancing student loans better than consolidation? If you’re looking for ways to simplify your student loan repayment strategy or pay off your debt more quickly, you may be considering student loan refinancing or consolidation.Neither option is inherently better, so it’s important to know your needs and goals before pursuing one.Consolidation is usually best for people who don’t have a stable income or have low income, and may need access to an income-driven repayment plan. It can also be a smart option to consider if you already have low interest rates and just want to simplify your monthly payments into one.Refinancing student loans, on the other hand, is typically a better choice if you have high interest rates or want more flexibility with payments — and don’t need federal loan benefits. More specifically, it tends to be a smart decision if you have a strong credit history and steady income — or if you can find a co-signer with those attributes — so that you can qualify for the lowest interest rate possible.To decide which option makes more sense for your needs, think about what your goals are with your student loans. Then consider your current financial situation and check your credit score to see what your chances are of qualifying for refinancing.If you want to refinance student loans but aren’t eligible on your own or with a co-signer, work on boosting your credit and income to improve your chances of qualifying. Is it worth it to refinance student loans? Student loan refinancing is an effective way to manage your debt, helping you save money, reduce your payment, and streamline your loans. However, refinancing has some significant drawbacks you should consider before applying for a loan.Refinancing is a smart choice for those with good credit, a stable income, and who don’t plan on using federal loan benefits. By doing your homework, you can ensure you make the right decision for you. What credit score do I need to refinance student loans? Your credit score is a numeric value, ranging from 300 to 850, which is determined by your credit history. Your score is calculated using various factors, such as payment history, length of credit history, amounts owed, types of credit, and applications for new credit. Yes, simply applying for a new loan will slightly lower your credit score. You can earn those points back, though.Refinancing companies require a good credit score (generally in the 650-700 range) to qualify and an excellent credit score to get the best rates. If you are unsure what your credit score is, you can see if you qualify to refinance student loans using our free Compare Rates tool — with no impact on your credit score. How do lenders determine your interest rate? If you’re specifically looking to refinance student loans in order to reduce your interest rate, there are many factors that lenders will consider when deciding which rate to offer you.Private student lenders use a risk-based pricing model to decide which interest rate and other terms to give you. This means that if you’re considered a risky borrower, you’ll be offered a higher interest rate versus someone who’s viewed as a lower risk.Some of the factors that lenders use to determine your interest rate include:Your credit scoreInformation on your credit reportYour income and employment statusHow much total debt you haveIn other words, just having a high credit score may not be enough. For example, if your credit history is limited or you have a high debt-to-income ratio (a large percentage of your monthly gross income goes toward debt payments), it could lead to a higher interest rate than you expected. Compare Rates .