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If you’re looking to save money on your student loans, compare your options with the best student loan consolidation companies below.

LenderRatesLoan Term (years) 
citizens

View details
Fixed: 3.74%+
Variable: 2.77%+
5, 10, 15, 20Compare Rates
Citizens Bank review
Loan products
• Federal, private, and ParentPLUS loan refinancing and consolidation
• Fixed and variable interest rates

Loan amounts
• Undergraduates: $10,000 - $90,000
• Graduates: up to $225,000
• Dentists, Medical Doctors, and Lawyers: up to $300,000

Eligibility
• Minimum household income of $24,000
• Eligible programs include associate through graduate degrees
• No degree required

Read Full Citizens Bank Review
collegeave

View details
Fixed: 4.65%+
Variable: 4.01%+
5, 7, 10, 12, 15Compare Rates
College Ave review
Loan products
• Federal, private, and ParentPLUS loan refinancing and consolidation
• Fixed and variable interest rates

Loan amounts
• Undergraduates: $5,000 - $150,000
• Medical graduates: up to $250,000

Eligibility
• Minimum household income of $75,000
• Available to all US residents that attended an eligible school
• Must have a bachelor's degree or higher

Read Full College Ave Review
earnest

View details
Fixed: 3.35%+
Variable: 2.61%+
5, 7, 10, 15, 20Compare Rates
Earnest review
Loan products
• Federal, private, and ParentPLUS loan refinancing and consolidation
• Fixed and variable interest rates

Loan amounts
• $5,000 - $500,000

Eligibility
• No minimum household income
• Must have a completed degree from an eligible college or university
• All Title IV accredited schools are eligible

Read Full Earnest Review
edvestinu

View details
Fixed: 4.34%+
Variable: 3.96%+
15, 20Compare Rates
EdvestinU review
Loan products
• Federal, private, and ParentPLUS loan refinancing and consolidation
• Fixed and variable interest rates

Loan amounts
• $7,500 - $200,000

Eligibility
• Minimum household income of $30,000
• Eligible programs include any title IV degree-granting college and university

Read Full EdvestinU Review
ihelp

View details
Fixed: 4.75%+
Variable: 3.75%+
10, 15, 20Compare Rates
iHelp review
Loan products
• Federal, private, and ParentPLUS loan refinancing and consolidation
• Fixed and variable interest rates

Loan amounts
• Undergraduates: $10,000 - $150,000
• Graduates: up to $250,000

Eligibility
• Minimum household income of $24,000
• Must be employed for at least two years
• Must have graduated from an iHELP eligible

Read Full iHelp Review


View details
Fixed: 4.95%+
Variable: 4.02%+
15Compare Rates
MEFA review
Loan products
• Federal, private, and ParentPLUS loan refinancing and consolidation
• Fixed and variable interest rates

Loan amounts
• $10,000 up to any amount

Eligibility
• Minimum household income of $24,000
• Eligible programs include associate through graduate degrees from not-for-profit institutions
• Out of school borrowers and borrowers without degrees are eligible

Read Full MEFA Review
rhode island student loan authority

View details
Fixed: 3.49%+5, 10, 15Compare Rates
RISLA review
Loan products
• Private, state-based and PLUS loan refinancing and consolidation
• Fixed rates only

Loan amounts
• Undisclosed loan limits

Eligibility
• Minimum household income of $40,000
• Residents of any state are eligible to refinance

Read Full RISLA Review

We vetted each lender in 33 areas within four major categories — legal compliance & financial stability, breadth of product coverage, product attributes, and customer experience.

1. Citizens Bank

Refinance up to $90,000 for undergraduate degrees or $225,000 for graduate degrees at very low rates with Citizens Bank.

2. College Ave

Any U.S. resident that attended an eligible school can refinance at a fixed or variable interest rate with College Ave.

3. Earnest

Earnest allows qualified borrowers to refinance up to $500,000 at low rates.

4. EdvestinU

Refinance with a new 15 or 20 year loan with EdvestinU to lower your monthly payments.

5. iHelp

iHelp allows qualified borrowers who have been employed for at least 2 years refinance up to $250,000.

6. MEFA

You can refinance with a 15 year fixed or variable rate interest loan with MEFA.

7. RISLA

RISLA allows residents of any U.S. state to refinance with a fixed interest rate loan.

Ready to start saving?

Credible simplifies student loan refinancing by letting you compare rates from top lenders in minutes. Check your rates today to see how much you could save.

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Other student loan consolidation and refinancing companies

We recommend the lenders above because we thoroughly evaluated them. However, our team also researched other institutions and found some good alternatives for people that want to consider all options before they begin the process of refinancing or consolidating student loans. You can find each lender below, along with information on rates, terms, and other key details.

LenderRatesLoan Term (years)
Alliant Credit Union
View details
Variable: 3.75%+up to 25
Private and federal student loan consolidation and refinancing

  • Original loans cannot be from a for-profit institution, community college, or trade school
  • Minimum income of $40K and must have worked for current employer for 2 years
  • Must be member of Alliant to apply, which requires membership in specific groups
  • No application fee
  • CommonBond
    View details
    Fixed: 3.50%+
    Variable: 2.23%+
    5, 10, 15, 20
    Private and federal student loan consolidation and refinancing

  • Available to both undergraduate and graduate degree holders from over 2,000 colleges and universities nationwide
  • Deferment options and forbearance available for economic hardship
  • No prepayment penalty or origination fees
  • Darien Rowayton Bank
    View details
    Fixed: 4.45%+
    Variable: 3.89%+
    5, 7, 10, 15, 20
    Student loan consolidation and refinancing for federal and private loans, including Parent PLUS loans

  • Must be working professional with BA or grad degree
  • Forbearance available for short-term economic hardship
  • No prepayment penalty or origination fee
  • First Republic
    View details
    Fixed: 1.95%+
    Variable: 1.98%+
    5, 7, 10, 15
    Student loan consolidation and refinancing for federal and private loans

  • Must have First Republic ATM Rebate Checking Account (which requires a$500 minimum deposit)
  • Must have worked in your current industry for 24 months
  • Must apply in-person
  • No prepayment penalty, origination fee, or annual fee
  • LendKey
    View details
    Fixed: 3.25%+
    Variable: 1.97%+
    5, 7, 10, 15, 20
    Student loan consolidation and refinancing for federal and private loans

  • Offer interest-only repayment for first 4 years
  • Co-signer release option after 12-36 consecutive on-time payments
  • No origination fee
  • Loans funded by community lenders like credit unions and community banks
  • Link Capital
    View details
    Fixed: 3.38%+
    Variable: 2.79%+
    3, 5, 7, 10, 15, 20
    Navy Federal Credit Union
    View details
    Fixed: 4.00%+
    Variable: 2.99%+
    15
    Purefy
    View details
    Fixed: 3.95%+
    Variable: 3.00%+
    5, 8, 12
    Student loan consolidation and refinancing for federal and private loans, including Parent PLUS loans

  • Must be 23 years old, have worked at least 2 years, and have strong credit history
  • Applicants must be employed for at least two years (waived for practicing MD/DO/DDS borrowers)
  • Rate discount of 0.5% if you open a Purefy Checking Account and enable autopay
  • SoFi
    View details
    Fixed: 3.50%+
    Variable: 2.24%+
    5, 7, 10, 15, 20
    Student loan consolidation and refinancing for federal and private loans, including Parent PLUS loans

  • Must be employed or hold job offer to start work within 90 days
  • Must hold degree from accredited school
  • Not available in Nevada
  • Forbearance and unemployment protection for up to 12 months
  • Offers career assistance like interview coaching, resume review, and negotiating tactics
  • No prepayment penalty or origination fee
  • Wells Fargo
    View details
    Fixed: 6.24%%+
    Variable: 3.74%+
    15, 20
    Student loan consolidation and refinancing for private loans only with Wells Fargo Private Consolidation Loan

  • Interest rate discount of 0.25% for autopay, discount of .25% with previous Wells Fargo student loan or other qualifying account
  • Co-signer release option after 24 consecutive on-time payments
  • Up to 2 months of forbearance
  • No prepayment penalty or origination fee
  • Frequently asked questions about student loan consolidation and refinancing

    1. What is student loan consolidation or refinancing?
    2. Can I consolidate private and federal loans together?
    3. Is student loan refinancing right for me?
    4. Should I refinance my student loans with fixed or variable interest rates?
    5. How do I consolidate or refinance my student loans?
    6. How much can I save by refinancing my student loans?

    What is student loan consolidation or refinancing?

    As a borrower, it’s important you understand the differences between student loan refinancing and student loan consolidation.

    Student loan consolidation: Consolidation is the process of combining your government loans so that you can make a single monthly payment. You can also extend the term of your loan, at the same interest rate.

    If you’re concerned about lowering your monthly loan payments, consolidation could be a good option for you. But remember, lowering your monthly payments could mean that you end up paying more in interest overall.

    Student loan refinancing: Refinancing is when a student loan lender buys out your existing loans, and gives you a single new loan with a potentially lower interest rate. So if you feel like your interest rate is too high, refinancing could help.

    This process will also combine all the loans you refinance into one convenient payment. While a lower interest rate is good news, your new loan may not come with all the borrower benefits associated with government loans.

    If you’re still confused, think about it like this: consolidation is like getting your house cleaned up and organized, whereas refinancing is like getting a whole new house.

    Can I consolidate private and federal loans together?

    You cannot consolidate federal and private student loans together into a Federal Direct Consolidation Loan. This is because federal student loans come with certain borrower benefits that you would lose if you chose to refinance federal and private loans together.

    For example, borrowers with federal student loans can take advantage of federal income-driven repayment programs, or benefits like loan forgiveness, which borrowers with private student loans typically don’t have access to. If you do decide you want to refinance your federal loans with your private loans, you will have to work with a private lender.

    Is student loan refinancing right for me?

    If you’ve been making your student loan payments every month, but you still feel like it’s going to take decades to pay everything off, your student loan interest rates might be the problem. 

    If you can lower your interest rates, more of your money can be used to reduce your debt, instead of paying off only your interest. Refinancing doesn’t guarantee lower payments, but it could help you get a lower interest rate and enable you to pay off your loan faster.

    Remember though, refinancing your federal loans could mean giving up your certain borrower benefits like deferment and forbearance, loan forgiveness, and income-driven repayment plans.

    Should I refinance my student loans with fixed or variable interest rates?

    Many college and personal finance advisers recommend that you take advantage of all available financial aid, scholarships, and federal student loans before turning to private lenders. 

    This is because federal student loans typically have fixed interest rates, which means your rate will remain the same over the life of your loan. Private student loans usually have variable interest rates, which can change depending on economic conditions.

    Fixed interest rates don’t change for the life of your loan, so you’ll always know how much you’re expected to pay. But by opting for a fixed-rate loan, you might be passing up the chance to start out making lower monthly payments.

    Variable rates can either work for you or against you. During tough economic times, the Federal Reserve and other central banks can lower interest rates. But if the Fed starts worrying about inflation, policymakers may decide to raise rates to keep prices from rising too sharply.

    You can learn more about fixed vs variable interest rates here.

    How do I consolidate or refinance my student loans?

    Each refinancing lender determines the rate they’ll offer a borrower on a case-by-case basis, so if you want to take advantage of the lowest interest rate available, it’s best to apply to many different lenders.

    Finding the best companies to help you refinance your student loans doesn’t have to be difficult. You can use the Credible platform to request personalized rate quotes from all the best student loan refinance lenders listed with a single application. You can even check your prequalified rates without sharing your personal information or incurring a hard credit pull, so it won’t affect your credit.

    Check Your Rates Now

    How much can I save by refinancing my student loans?

    Borrowers save an average of $18,688 when they refinance their student loans using Credible. Check out our student loan refinancing calculator to see how much you could cut your student debt by.


    Credible is a multi-lender marketplace that allows borrowers to request competitive loan offers from vetted lenders, without affecting their credit scores.

     

     

    Compare all of your refinance options in one place

    Credible helps borrowers save an average of $18,668 when they refinance.

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