Student loan refinancing offers like Earnest |
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Student loan refinancing offers like Earnest

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Find out if one of these five student loan refinancing providers is a better choice for you.

Earnest is a direct lender that offers student loan refinancing with rates so competitive you might even be able to save on your federal student loans. It offers fixed rates from 3.89% to 7.89% and variable rates from 2.57% to 6.97% with an autopay discount. You must have at least $5,000 in student debt, though there’s no limit to how much you can refinance. Terms range from 5 to 20 years, and it offers a variety of flexible repayment plans with no origination fees or prepayment penalties.

But you need strong credit to qualify. If you’re in good financial health but never finished your degree or otherwise aren’t eligible, you might want to consider another similar provider.

Pros and cons of refinancing with Earnest


  • No limit to how much you can refinance.
  • Parent PLUS refinancing available.
  • Option to skip a payment.
  • Refinance during your last semester.
  • Fixed and variable rates.


  • Good credit required.
  • No loans from unfinished degrees.
  • Doesn’t accept cosigners.
  • Not available in Alabama, Delaware, Kentucky, Nevada or Rhode Island.

Click here to see Earnest

1. Credible

Unlike Earnest, Credible is an online marketplace that allows you to qualify for multiple refinancing options at once. It doesn’t offer loans directly, but it can be a good alternative to Earnest if you don’t have time to shop around fora competitive deal.

Credible is free to use, and its partners accept cosigners and don’t charge origination or prepayment fees. But depending on your lender, you might not get access to repayment plans as flexible as what Earnest or your federal loans can offer.


  • Comparable fixed and variable rates.
  • Parent PLUS refinancing available.
  • Accepts cosigners.
  • Can refinance loans from unfinished degrees.
  • Available in all 50 states.


  • Limited to Credible’s network of 10 partner lenders.
  • Can’t refinance while you’re still in school.
  • May not have as flexible repayment plans.

2. SoFi

SoFi is an online lender that offers student loan refinancing for young professionals with rates and loan amounts and that compare to Earnests. In addition to having no origination or prepayment penalties, SoFi also doesn’t charge returned payment fees while Earnest does.

What really makes SoFi stand out from Earnest is the extra perks: Borrowers can take advantage of mentoring programs, financial advisers and even exclusive startup financing offers. Like Earnest, you need good to excellent credit to qualify and a cosigner won’t to help you meet any requirements.


  • Career and financial support available.
  • Competitive rates, loan amounts and terms.
  • Parent PLUS refinancing available.
  • Available in all 50 states.


  • Considers individual rather than household income.
  • You have to prequalify on your own before adding a cosigner.
  • Good credit required.
  • Must have completed degree.

3. Purefy

Unlike Earnest, Purefy is a referral service that works with two popular lenders: PenFed Credit Union and Citizens Bank. Rather than issuing loans, it simplifies and speeds up the application and allows you to compare offers from both lenders.

Like Earnest, Purefy doesn’t charge any origination fees or prepayment penalties. Rates and terms also compare to Earnest. However, it has a limit to how much you want to refinance. And while it allows you to apply with a cosigner — unlike Earnest — you still need strong credit to qualify.


  • Don’t need a degree to qualify.
  • Parent PLUS refinancing available.
  • Consolidation loans for married couples.
  • Accepts cosigners.
  • Rates and terms compare to Earnest.
  • Available in all 50 states.


  • Can’t refinance more than $300,000 if you have a degree or $90,000 if you don’t have one.
  • Must be employed for at least two years.
  • Need to have a minimum of $7,500 in student debt.
  • Can’t refinance while you’re still in school.

4. CommonBond

CommonBond is an online lender that offers student loan refinancing at similar rates and terms as Earnest. The main difference is that CommonBond has a limit to how much debt you can refinance and offers a hybrid rate option, which allows you to pay off your loan with five years of fixed rates and five years of variable rates.

Like Earnest, there are no fees to apply, and CommonBond offers discounts for signing up for autopay and referring a friend. It goes above and beyond Earnest by putting part of its profits toward charities that support education in the developing world. But it only offers one repayment plan — compared to Earnest’s multiple options. And like with Earnest, you need a degree to qualify.


  • Fixed, variable and hybrid rates.
  • Parent PLUS refinancing available.
  • Allows cosigners.
  • Supports charity.


  • Degree required.
  • Not available in Idaho, Mississippi, Nevada or Vermont.
  • Less flexible repayment plans.
  • Loans capped at $500,000.


Education Loan Finance (ELFI) is a student loan refinancing and consolidation program that offers rates and terms that rival Earnest — even though it doesn’t offer a discount for using autopay.

On top of this, it has several other discounts you won’t find with Earnest including a $100 bonus for signing your loan documents within 30 days of applying and $400 for referring a friend. And unlike Earnest, you can bring on a cosigner to meet credit requirements.

The downside is that you need a higher student debt load to qualify. And like Earnest, you aren’t eligible unless you have completed your program.


  • Accepts cosigners.
  • No maximum loan amount.
  • Parent PLUS refinancing available.
  • Rates and terms rival Earnest.
  • Available in all 50 states.


  • Need a degree to qualify.
  • No loans under $15,000.
  • Good credit required.

Compare more student loan providers

Rates last updated January 17th, 2019
Name Product Min. Credit Score Max. Loan Amount APR Product Description
Earnest Student Loan Refinancing Variable Rate (w/ autopay)
2.57% to 6.97% (variable)
Get a tailored interest rate and repayment plan with no hidden fees.
LendingTree Student Loans
Good to excellent credit
Varies by lender
3% (As low as) (fixed)
Compare multiple student loans and student loan refinancing options in one place.
SoFi Student Loan Refinancing Variable Rate (with Autopay)
full balance of your qualified education loans
2.47% to 6.99% (variable)
A leader in student loan refinancing, SoFi can help you refinance your loans and pay them off sooner.
Credible Student Loan Refinancing
Good to excellent credit
2.57%(As low as ) (variable)
Get prequalified offers from top student loan refinancing providers in one place.
PenFed Student Loan Refinancing
3.75%–7.03% (fixed)
Straightforward refinancing with competitive rates.
Purefy Student Loan Refinancing
3.01% to 8.61% (variable)
Refinance all types of student loans — including federal and parent PLUS loans.
Splash Financial Student Loan Refinancing
3.75% (starting at) (variable)
Save on your student loans with this market-leading newcomer.

Compare up to 4 providers

Anna Serio

Anna Serio is a staff writer untangling everything you need to know about personal loans, including student, car and business loans. She spent five years living in Beirut, where she was a news editor for The Daily Star and hung out with a lot of cats. She loves to eat, travel and save money.

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