Best Student Loan Refinance Companies 2023
Student loan refinancing can be a great way to reduce the cost of your student loan debt. With the right refinancing company, you can save hundreds to thousands of dollars in interest and fees. But with so many student loan refinance companies out there, it can be difficult to know which one is the best for you. To help you make an informed decision, we’ve compiled our list of the top student loan refinance companies for 2023.
1) SoFi
SoFi is one of the most well-known student loan refinance companies. They offer competitive rates and have one of the most generous loan terms. They also offer a range of other services, such as career coaching, financial advice, and job search assistance. SoFi is a great option for borrowers looking for a comprehensive package of student loan refinancing services.
2) Earnest
Earnest is another popular student loan refinancing company. They have competitive rates and offer a wide range of repayment options. Borrowers can choose from fixed or variable rate loans, as well as income-based plans. Earnest also has a unique "flexible repayment" feature, which allows borrowers to adjust their payments based on their income. This can be a great way to save money if your income fluctuates.
3) CommonBond
CommonBond is one of the few student loan refinance companies that offer variable rate loans. They also offer a wide range of repayment plans, including income-based and extended repayment plans. CommonBond also has a unique "bond laddering" feature, which allows borrowers to split their loan into multiple loans with different terms. This can be a great way to save money on interest and fees.
4) Citizens Bank
Citizens Bank is another popular student loan refinance company. They have competitive rates and offer a wide range of repayment options. They also have a unique "transfer bonus" feature, which allows borrowers to transfer their existing loans to Citizens Bank and get a bonus of up to $750. This can be a great way to reduce the cost of your student loan debt.
5) Splash Financial
Splash Financial is a newer student loan refinance company, but they offer competitive rates and a range of repayment options. They also have a unique "refund advance" feature, which allows borrowers to get a refund on their student loan payments before their repayment period ends. This can be a great way to save money if you plan to pay off your loans early.
6) Laurel Road
Laurel Road is another popular student loan refinance company. They offer competitive rates and a wide range of repayment plans, including income-based and extended repayment plans. They also have a unique "career development" feature, which provides borrowers with resources to help them advance their careers. This can be a great way to help you get ahead financially.
7) ELFI
ELFI is another student loan refinance company that offers competitive rates and a range of repayment options. They also have a unique "lifetime savings" feature, which guarantees that borrowers will save money over the life of their loan. This can be a great way to ensure that you'll save as much as possible on your student loan debt.
8) LendKey
LendKey is a student loan refinance company that offers competitive rates and a wide range of repayment options. They also have a unique "community lender" feature, which allows borrowers to get their loans from a local financial institution. This can be a great way to support your local community and get a better rate on your student loan debt.
9) College Ave
College Ave is another popular student loan refinance company. They offer competitive rates and a wide range of repayment options. They also have a unique "co-signer release" feature, which allows borrowers to remove a co-signer from their loan after a certain period of time. This can be a great way to reduce the risk of taking on too much debt.
10) PenFed
PenFed is another student loan refinance company that offers competitive rates and a wide range of repayment options. They also have a unique "referral bonus" feature, which allows borrowers to receive up to $200 when they refer a friend or family member to PenFed. This can be a great way to save money and help out your friends and family.
Conclusion
Student loan refinancing can be a great way to save money on your student loan debt. With so many student loan refinance companies out there, it can be difficult to know which one is the best for you. We hope this list of the top student loan refinance companies for 2023 has been helpful in making an informed decision.