SuperMoney student loan refinancing review
Compare options to combine both private and federal debts into one monthly payment.
Starting at 1.9%
Max. Loan Amount
No minimum credit score
Min. Credit Score
|Product Name||Supermoney student loan refinancing|
|Minimum Loan Amount||$5,000|
|Max. Loan Amount||$300,000|
|APR||Starting at 1.9%|
|Interest Rate Type||Fixed|
|Minimum Loan Term||5 years|
|Maximum Loan Term||20 years|
|Requirements||Valid Social Security number, verifiable income, completed degree from a US school|
Kathryn Pomroy was a writer for Finder, specializing in loans. She has written for dozens of major publications, small businesses and many well-known personal finance companies, including LendingTree, Money Crashers, Quickbooks/Intuit, BankRate, LendEDU and more. Kathryn holds a BA in Journalism and drinks super bold coffee while eating peanut butter and honey toast.
SuperMoney connects borrowers from a variety of credit backgrounds with top student loan refinancing providers in all 50 states. Although you can see what options you may qualify for by filling out only one form, you’ll be asked to provide your personal data for verification purposes — including your Social Security number. And doing so doesn’t guarantee you’ll be approved.
But your credit score won’t be impacted by filling out the application. You won’t face a hard credit pull until you’re redirected to the lender’s website and complete an application. And borrowers may refinance federal student loans, private student loans or a combination of both.
First, am I eligible?
SuperMoney works with a wide variety of lenders, so you’ll only need to meet a few requirements to be eligible:
- Valid Social Security number
- At least 18 years old
- A verifiable source of income
- Completed a degree from a US school
What states is SuperMoney available in?
SuperMoney has lending partners that work with borrowers in all 50 states.
How much will I pay to refinance with SuperMoney?
SuperMoney isn’t a direct lender, and it doesn’t charge a fee to find multiple providers that offer student loan refinancing. However, individual lenders may charge fees. APRs start at 1.9% and rates can be variable or fixed with terms ranging from five to 20 years.
Does SuperMoney offer discounts?
No, though the lender you’re matched with might. Many refinancing providers offer a discount off your interest rate for signing up for automatic payments.
What are my repayment options?
SuperMoney doesn’t provide repayment options on its website, as it’s not a direct lender. Each of its lending partners may have different repayment terms. In general, repayment terms range from five to 20 years. A longer term means you pay less each month, but there’s more time for interest to add up — making the loan more expensive in the long run.
Does SuperMoney offer deferment or forbearance?
SuperMoney works with a variety of lenders that offer a range of fixed and variable loan amounts, repayment terms and APRs. SuperMoney looks at the income and credit score you provide and filters through its network of lenders to find the best student loan refinance deals for your needs. Some lending partners may offer deferment or forbearance, while others may not. Keep in mind that while you can refinance both private and federal student loans, the end result will be a private loan.
SuperMoney has several benefits worth exploring.
- Compare multiple lenders with one easy form. SuperMoney filters through its network of providers to find the best partners for you.
- Prequalifying does not affect your credit. When you fill out the form to check your rates SuperMoney doesn’t do a hard credit pull, so it won’t affect your credit score.
- Accepts a range of credit scores. SuperMoney has a wide range of lenders in its network willing to work with credit scores.
- Available in all 50 states. With a wide range of lenders, you’re likely to find one that will work with you in your area.
- Accepts cosigners. If you don’t have the greatest credit, many of SuperMoney’s lending partners accept cosigners.
- No fees. As of April 2020, no lenders in SuperMoney’s network charge origination fees or application fees.
Although there are several benefits to working with SuperMoney, there are also drawbacks to consider.
- SuperMoney is not a direct lender. That means you will be paired with lenders you likely know little about outside of potential rates, so you’ll want to read reviews before signing on the dotted line.
- Limited info on its website. SuperMoney doesn’t publish detailed information on its website — that includes not listing a phone number to call if you have questions.
- No offer is guaranteed. Providing your information on the SuperMoney website doesn’t guarantee that you’ll be approved for a loan.
- Must share personal information. You must share your personal information to get matched with a lender — including your name, address, estimated income and credit score, birthday and Social Security number.
Compare Supermoney to other student loan providers
How do I get started?
If you’re ready to compare your student loan refinancing options, follow these steps. It only takes a few minutes.
- Click on the Go to site button.
- Select which loans you want to refinance: personal, federal or both.
- Select the loan amount you need along with how much is personal and how much is federal.
- Enter your credit score.
- Select the highest academic degree you’ve completed.
- Enter where you received your degree and your graduation date.
- Provide your annual income.
- Enter your home address.
- Provide your full name, date of birth, phone number and email.
- Select your residency status.
- Enter your Social Security number and click Review your answers.
- Read the terms and conditions and select Submit.
- Review your loan offers.
If any offers appeal to you, SuperMoney will direct you to the lender’s website to complete your application.
What information do I need to provide?
You don’t need any specific documentation to fill out the prequalification form. However, you will likely need some or all of the following information when you fill out the full application with the refinancing lender you’re matched with.
- Proof of income. This may include pay stubs or a benefits letter.
- Proof of address. Bills and other official mail with your full name listed will typically suffice.
- Bank account information. Your bank’s routing number and account number.
Who is my new loan servicer?
Based on the information you submit on the prequalification form, SuperMoney matches you with various lending partners you may be able to refinance your student loans with. If you choose to work with one of its lending partners, that lender will then determine who your loan servicer is.
Bear in mind the lenders you’re matched with are under no obligation to follow through with your student loan refinancing — and the estimated APR, terms and other features are not guaranteed.
Rather not use a student loan refinancing connection service? Compare other options with our student loan refinancing guide.