10 Best Companies to Refinance Medical School Loans

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Heading into the healthcare field can be rewarding and lucrative. However, it can also be expensive to get there — students who attend a healthcare program leave with an average medical school debt of $232,300.

While this might seem like a massive amount of debt, there are fortunately a few options that can help you manage it. For example, refinancing medical school loans might help you save money and potentially pay off your loans faster.

Here are Credible’s partner lenders that refinance medical school loans:

Lender	Fixed rates from (APR)	Variable rates from (APR)	Loan terms (years)	Loan amounts
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	4.54%+	N/A	10, 15, 20	$7,500 up to up to $200,000 (larger balances require special approval)
Fixed APR: 4.54%+ Variable APR: N/A Min. credit score: Does not disclose Loan amount: $7,500 up to $500,000 Loan terms (years): 10, 15, 20 Max. undergraduate loan balance: $250,000 - $500,000 Time to fund: 4 months Repayment options: Immediate repayment, forbearance, loans discharged upon death or disability Fees: None Discounts: Autopay Eligibility: Must be a resident of Kentucky Customer service: Phone Soft credit check: No Cosigner release: After 36 months Loan servicer: Kentucky Higher Education Student Loan Corporation Max. graduate loan balance: $250,000 - $500,000 Credible Review: Advantage Education Loan review Offers Parent PLUS Refinancing : Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.15%+	1.87%+	5, 7, 10, 15, 20	$10,000 up to $250,000 (depending on degree)
Fixed APR: 2.15%+ Variable APR: N/A Min. credit score: Does not disclose Loan amount: $10,000 to $400,000 Loan terms (years): 5, 7, 10, 15, 20 Repayment options: Military deferment, forbearance Fees: Late fee Discounts: Autopay Eligibility: Must have a credit score of at least 720, a minimum income of $60,000, and must be a resident of Texas Customer service: Email, phone Soft credit check: Does not disclose Cosigner release: No Loan servicer: Firstmark Services Max. Undergraduate Loan Balance: $100,000 - $149,000 Max. Graduate Loan Balance: $200,000 - $400,000 Offers Parent PLUS Refinancing: Does not disclose
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.39%+<sup1	2.24%+1	5, 7, 10, 15, 20	$10,000 to $500,000 (depending on degree and loan type)
Fixed APR: 2.39%+<sup1 Variable APR: 2.24%+1 Min. credit score: Does not disclose Loan amount: $10,000 to $750,000 Loan terms (years): 5, 7, 10, 15, 20 Repayment options: Immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay, loyalty Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 24 to 36 months Loan servicer: Firstmark Services Max. Undergraduate Loan Balance: $100,000 to $149,000 Max. Graduate Loan Balance: Less than $150,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.99%+2	2.94%+2	5, 7, 10, 12, 15, 20	$5,000 to $300,000 (depending on degree type)
Fixed APR: 2.99%+2 Variable APR: 2.94%+2 Min. credit score: Does not disclose Loan amount: $5,000 to $300,000 Loan terms (years): 5, 7, 10, 12, 15, 20 Repayment options: Military deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: All states except for ME Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 24 to 36 months Loan servicer: College Ave Servicing LLC Max. Undergraduate Loan Balance: $100,000 to $149,000 Max. Graduate Loan Balance: Less than $300,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.16%+	2.11%+	5, 7, 10, 15, 20	$5,000 to $500,000
Fixed rate: 2.39%+<sup1 Variable rate: 2.24%+1 Min. credit score: 680 Loan amount: $5,000 to $500,000 Cosigner release: Yes Loan terms (years): 5, 7, 10, 15, 20 Repayment options: Academic deferment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Available in all states, except MS and NV Customer service: Email, phone, chat Soft credit check: Yes Loan servicer: FirstMark Max. undergraduate loan balance: $500,000 Max. graduate loan balance: $500,000 Offers Parent PLUS refinancing: Yes Min. income: $65,000 (for 15- and 20-year products)
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.58%+3	2.39%+	5, 7, 10, 12, 15, 20	Minimum of $15,000
Fixed APR: 2.58%+3 Variable APR: 2.39%+ Min. credit score: 680 Loan amount: No maximum Loan terms (years): 5, 7, 10, 12, 15, 20 Repayment options: Forbearance Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident, have at least $15,000 in student loan debt, and have a bachelor’s degree or higher from an approved school Customer service: Email, phone Soft credit check: Yes Cosigner release: No Loan servicer: Mohela Max. Undergraduate Loan Balance: No maximum Max. Graduate Loan Balance: No maximum Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.47%+4	2.42%+	5, 10, 15, 20	$5,000 - $250,000
Fixed APR: 3.47%+4 Variable APR: 2.42%+ Min. credit score: 670 Loan amount: $5,000 to $250,000 Loan terms (years): 5, 10, 15, 20 Repayment options: Academic deferment, military deferment, forbearance Fees: Late fee Discounts: Autopay Eligibility: Must be U.S. citizen or permanent resident Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: Yes Max undergraduate loan balance: $250,000 Max graduate loan balance: $250,000 Offers Parent PLUS refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.74%+5	N/A	5, 7, 10, 12, 15, 20	Up to $300,000
Fixed APR: 2.80%+ Variable APR: N/A Min. credit score: 670 Loan amount: Up to $300,000 Loan terms (years): 5, 7, 10, 15, 20 Time to fund: Usually one business day Repayment options: Academic deferral, military deferral, forbearance, death/disability discharge Fees: None Discounts: Autopay Eligibility: Available in all 50 states Customer service: Email, phone Soft credit check: Yes Cosigner release: After 24 months Max. undergraduate loan balance: $300,000 Max. graduate balance: $300,000 Offers Parent PLUS loans: Yes Min. income: None
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.05%+	3.05%+	7, 10, 15	$10,000 up to the total amount of qualified education debt
Fixed APR: 3.05%+ Variable APR: 3.05%+ Min. credit score: 670 Loan amount: $10,000 up to the total amount Loan terms (years): 7, 10, 15 Repayment options: Military deferment, loans discharged upon death or disability Fees: None Discounts: None Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans Customer service: Email, phone Soft credit check: Yes Cosigner release: No Loan servicer: AES Max. Undergraduate Loan Balance: No maximum Max. Gradaute Loan Balance: No maximum Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.89%+	N/A	5, 8, 12, 15	$7,500 to $300,000
Fixed APR: 2.89%+ Variable APR: N/A Min. credit score: 670 Loan amount: $7,500 to $300,000 Loan terms (years): 5, 8, 12, 15 Repayment options: Does not disclose Fees: None Discounts: None Eligibility: Must be a U.S. citizen and have and at least $7,500 in student loans Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: After 12 months Loan servicer: PenFed Max. Undergraduate Loan Balance: $300,000 Max. Graduate Loan Balance: $300,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	3.29%+	N/A	5, 10, 15	$7,500 up to $250,000 (depending on highest degree earned)
Fixed APR: 3.29%+ Variable APR: N/A Min. credit score: 680 Loan amount: $7,500 to $250,000 Loan terms (years): 5, 10, 15 Repayment options: Academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: Autopay Eligibility: Available in all 50 states; must also have at least $7,500 in student loans and a minimum income of $40,000 Customer service: Email, phone Soft credit check: Does not disclose Cosigner release: No Loan servicer: Rhode Island Student Loan Authority Max. Undergraduate Loan Balance: $150,000 - $249,000 Max. Graduate Loan Balance: $200,000 - $249,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	2.74%+6	2.25%6	5, 7, 10, 15, 20	$5,000 up to the full balance of your qualified education loans
Fixed APR: 2.74%+6 Variable APR: 2.25%6 Min. credit score: Does not disclose Loan amount: $5,000 up to the full balance Loan terms (years): 5, 7, 10, 15, 20 Repayment options: Academic deferment, military deferment Fees: None Discounts: Autopay, loyalty Eligibility: Available in all 50 states Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: No Max undergraduate loan balance: No maximum Max graduate loan balance: No maximum Offers Parent PLUS refinancing: Yes
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All APRs reflect autopay and loyalty discounts where available | 1Citizens Disclosures | 2College Ave Disclosures | 3 ELFI Disclosures | 4INvestEd Disclosures | 5ISL Education Lending Disclosures | 6SoFi Disclosures

Learn more about Credible’s partner lenders

• Advantage
• Brazos
• Citizens
• College Ave
• ELFI
• INvestEd
• MEFA
• PenFed
• RISLA
• SoFi

Advantage

Advantage offers refinancing on loan amounts from $7,500 to $500,000 — though keep in mind that larger balances might require special approval.

Borrowers can also opt for a graduated repayment plan that starts with smaller payments that increase every two years, which could be helpful if you expect your income to rise in the future.

3.0

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Advantage Education Loan Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

4.54%+

Variable APR

Lowest variable rate available from this lender

N/A

Min. credit score

Minimum credit score needed to qualify

Does not disclose

Loan amount

Range needed to refinance with this lender

$7,500 up to $500,000

Does refinancing make sense for you?
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• Fixed APR: 4.54%+
• Variable APR: N/A
• Min. credit score: Does not disclose
• Loan amount: $7,500 up to $500,000
• Loan terms (years): 10, 15, 20
• Max. undergraduate loan balance: $250,000 - $500,000
• Time to fund: 4 months
• Repayment options: Immediate repayment, forbearance, loans discharged upon death or disability
• Fees: None

• Discounts: Autopay
• Eligibility: Must be a resident of Kentucky
• Customer service: Phone
• Soft credit check: No
• Cosigner release: After 36 months
• Loan servicer: Kentucky Higher Education Student Loan Corporation
• Max. graduate loan balance: $250,000 - $500,000
• Credible Review: Advantage Education Loan review
• Offers Parent PLUS Refinancing : Yes

Pros

• Graduated repayment plan available
• Can refinance up to $500,000
• 0.25% autopay discount

Cons

• No variable-rate options
• Might be hard to qualify if you have poor or fair credit
• Long cosigner release period (36 months)

Brazos

If you’re a Texas resident, Brazos might be a good choice for refinancing. You can refinance $10,000 to $400,000 if you graduated with a medical degree.

4.4

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Brazos Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.15%+

Variable APR

Lowest variable rate available from this lender

N/A

Min. credit score

Minimum credit score needed to qualify

Does not disclose

Loan amount

Range needed to refinance with this lender

$10,000 to $400,000

Does refinancing make sense for you?
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• Fixed APR: 2.15%+
• Variable APR: N/A
• Min. credit score: Does not disclose
• Loan amount: $10,000 to $400,000
• Loan terms (years): 5, 7, 10, 15, 20
• Repayment options: Military deferment, forbearance
• Fees: Late fee
• Discounts: Autopay

• Eligibility: Must have a credit score of at least 720, a minimum income of $60,000, and must be a resident of Texas
• Customer service: Email, phone
• Soft credit check: Does not disclose
• Cosigner release: No
• Loan servicer: Firstmark Services
• Max. Undergraduate Loan Balance: $100,000 - $149,000
• Max. Graduate Loan Balance: $200,000 - $400,000
• Offers Parent PLUS Refinancing: Does not disclose

Pros

• Competitive interest rates
• 0.25% autopay discount
• No application, origination, or disbursement fees

Cons

• Not available outside of Texas
• Cosigner release not offered
• Requires a minimum income of $60,000 ($30,000 with a cosigner), which might make it difficult for new graduates to qualify

Citizens

With Citizens, medical school graduates can refinance $10,000 to $750,000. Refinancing is also available to borrowers who didn’t complete their degree — though this will affect the maximum amount they can refinance with Citizens.

Additionally, if you already have an account with Citizens, you could get a 0.25% rate discount — plus another 0.25% off your rate if you sign up for autopay.

4.7

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Citizens Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.39%+<sup1

Variable APR

Lowest variable rate available from this lender

2.24%+¹

Min. credit score

Minimum credit score needed to qualify

Does not disclose

Loan amount

Range needed to refinance with this lender

$10,000 to $750,000

Does refinancing make sense for you?
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• Fixed APR: 2.39%+<sup1
• Variable APR: 2.24%+¹
• Min. credit score: Does not disclose
• Loan amount: $10,000 to $750,000
• Loan terms (years): 5, 7, 10, 15, 20
• Repayment options: Immediate repayment, academic deferment, military deferment, forbearance, loans discharged upon death or disability
• Fees: Late fee
• Discounts: Autopay, loyalty

• Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: After 24 to 36 months
• Loan servicer: Firstmark Services
• Max. Undergraduate Loan Balance: $100,000 to $149,000
• Max. Graduate Loan Balance: Less than $150,000
• Offers Parent PLUS Refinancing: Yes

Pros

• 0.25% loyalty discount
• 0.25% autopay discount
• Degree not required

Cons

• Doesn’t disclose minimum income or credit score requirements
• Long cosigner release period (36 months)
• Cosigner release not available on the Education Refinance Loan for Parents

College Ave

With College Ave, you can refinance $5,000 to $300,000 of medical school debt and can choose from 16 repayment terms ranging from five to 20 years.

4.4

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

College Ave Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.99%+²

Variable APR

Lowest variable rate available from this lender

2.94%+²

Min. credit score

Minimum credit score needed to qualify

Does not disclose

Loan amount

Range needed to refinance with this lender

$5,000 to $300,000

Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.

Check Personalized Rates

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• Fixed APR: 2.99%+²
• Variable APR: 2.94%+²
• Min. credit score: Does not disclose
• Loan amount: $5,000 to $300,000
• Loan terms (years): 5, 7, 10, 12, 15, 20
• Repayment options: Military deferment, forbearance, loans discharged upon death or disability
• Fees: Late fee
• Discounts: Autopay

• Eligibility: All states except for ME
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: After 24 to 36 months
• Loan servicer: College Ave Servicing LLC
• Max. Undergraduate Loan Balance: $100,000 to $149,000
• Max. Graduate Loan Balance: Less than $300,000
• Offers Parent PLUS Refinancing: Yes

Pros

• 16 repayment terms to choose from
• 0.25% autopay discount
• Cosigner release offered (after 24 months)

Cons

• Doesn’t disclose minimum income or credit score requirements
• No physical locations
• Not available in Maine

ELFI

If you have a large amount of debt, Education Loan Finance (ELFI) might be a good choice — you can refinance a minimum of $15,000 with no set maximum.

4.4

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

Education Loan Finance Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.58%+³

Variable APR

Lowest variable rate available from this lender

2.39%+<sup3

Min. credit score

Minimum credit score needed to qualify

680

Loan amount

Range needed to refinance with this lender

No maximum

Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.

Check Personalized Rates

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• Fixed APR: 2.58%+³
• Variable APR: 2.39%+
• Min. credit score: 680
• Loan amount: No maximum
• Loan terms (years): 5, 7, 10, 12, 15, 20
• Repayment options: Forbearance
• Fees: None
• Discounts: None

• Eligibility: Must be a U.S. citizen or permanent resident, have at least $15,000 in student loan debt, and have a bachelor’s degree or higher from an approved school
• Customer service: Email, phone
• Soft credit check: Yes
• Cosigner release: No
• Loan servicer: Mohela
• Max. Undergraduate Loan Balance: No maximum
• Max. Graduate Loan Balance: No maximum
• Offers Parent PLUS Refinancing: Yes

Pros

• No maximum loan limit
• Variable-rate loans capped at 9.95% APR
• Up to 12 months of forbearance available for borrowers experiencing financial hardship

Cons

• No discounts available
• Cosigner release not offered
• Might be hard to qualify if you have poor or fair credit

INvestEd

Unlike many lenders, INvestEd doesn’t require borrowers to have graduated to apply for refinancing, which could make it a good option if you didn’t complete your degree. With INvestEd, you can refinance $5,000 to $250,000.

3.9

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

INvestEd Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

3.47%+⁴

Variable APR

Lowest variable rate available from this lender

2.42%+

Min. credit score

Minimum credit score needed to qualify

670

Loan amount

Range needed to refinance with this lender

$5,000 to $250,000

Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.

Check Personalized Rates

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View Details

• Fixed APR: 3.47%+⁴
• Variable APR: 2.42%+
• Min. credit score: 670
• Loan amount: $5,000 to $250,000
• Loan terms (years): 5, 10, 15, 20
• Repayment options: Academic deferment, military deferment, forbearance
• Fees: Late fee

• Discounts: Autopay
• Eligibility: Must be U.S. citizen or permanent resident
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: Yes
• Max undergraduate loan balance: $250,000
• Max graduate loan balance: $250,000
• Offers Parent PLUS refinancing: Yes

Pros

• 0.25% autopay discount
• Up to 24 months of forbearance available over the life of the loan (one to three months duration per forbearance)
• Degree not required

Cons

• Can only refinance up to $250,000, which might not fully cover your medical school debt
• Might be hard to qualify if you have poor or fair credit
• Long cosigner release period (48 months)

MEFA

The Massachusetts Educational Financing Authority (MEFA) offers refinancing to borrowers who attended public or nonprofit universities.

With MEFA, you can refinance $10,000 up to your total amount of qualified education debt, which could make it a good choice if you have a large balance you want to refinance.

4.0

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

MEFA Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

3.05%+

Variable APR

Lowest variable rate available from this lender

3.05%+

Min. credit score

Minimum credit score needed to qualify

670

Loan amount

Range needed to refinance with this lender

$10,000 up to the total amount

Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.

Check Personalized Rates

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• Fixed APR: 3.05%+
• Variable APR: 3.05%+
• Min. credit score: 670
• Loan amount: $10,000 up to the total amount
• Loan terms (years): 7, 10, 15
• Repayment options: Military deferment, loans discharged upon death or disability
• Fees: None
• Discounts: None

• Eligibility: Must be a U.S. citizen or permanent resident and have at least $10,000 in student loans
• Customer service: Email, phone
• Soft credit check: Yes
• Cosigner release: No
• Loan servicer: AES
• Max. Undergraduate Loan Balance: No maximum
• Max. Gradaute Loan Balance: No maximum
• Offers Parent PLUS Refinancing: Yes

Pros

• No maximum loan amount
• Competitive rates
• No application, origination, or disbursement fees

Cons

• No discounts available
• Cosigner release not offered
• Not available for students who attended for-profit colleges

PenFed

PenFed offers refinancing on loans from $7,500 to $300,000. It’s also the only lender that will allow you to consolidate your loans with your spouse.

Keep in mind that if you apply with PenFed and are approved, you’ll need to join the credit union to accept your loan.

4.5

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

PenFed Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.89%+

Variable APR

Lowest variable rate available from this lender

N/A

Min. credit score

Minimum credit score needed to qualify

670

Loan amount

Range needed to refinance with this lender

$7,500 to $300,000

Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.

Check Personalized Rates

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• Fixed APR: 2.89%+
• Variable APR: N/A
• Min. credit score: 670
• Loan amount: $7,500 to $300,000
• Loan terms (years): 5, 8, 12, 15
• Repayment options: Does not disclose
• Fees: None
• Discounts: None

• Eligibility: Must be a U.S. citizen and have and at least $7,500 in student loans
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: After 12 months
• Loan servicer: PenFed
• Max. Undergraduate Loan Balance: $300,000
• Max. Graduate Loan Balance: $300,000
• Offers Parent PLUS Refinancing: Yes

Pros

• Can refinance loans with a spouse
• Cosigner release offered after just 12 months
• Interest capped on variable-rate loans

Cons

• No discounts available
• 20-year term not offered
• Minimum income of $42,000 to $50,000 required (depending on loan amount), which might make it difficult for recent graduates to qualify

RISLA

The Rhode Island Student Loan Authority (RISLA) could be a smart choice for refinancing if you’re worried about job security down the line. Unlike most private lenders, RISLA offers an income-based repayment (IBR) plan for borrowers who demonstrate financial hardship.

Additionally, if you make on-time, consecutive payments for 25 years under this IBR plan, RISLA will forgive any remaining balance you might have.

3.7

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

RISLA Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

3.29%+

Variable APR

Lowest variable rate available from this lender

N/A

Min. credit score

Minimum credit score needed to qualify

680

Loan amount

Range needed to refinance with this lender

$7,500 to $250,000

Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.

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Checking rates won't affect your credit score

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• Fixed APR: 3.29%+
• Variable APR: N/A
• Min. credit score: 680
• Loan amount: $7,500 to $250,000
• Loan terms (years): 5, 10, 15
• Repayment options: Academic deferment, military deferment, forbearance, loans discharged upon death or disability
• Fees: None
• Discounts: Autopay

• Eligibility: Available in all 50 states; must also have at least $7,500 in student loans and a minimum income of $40,000
• Customer service: Email, phone
• Soft credit check: Does not disclose
• Cosigner release: No
• Loan servicer: Rhode Island Student Loan Authority
• Max. Undergraduate Loan Balance: $150,000 - $249,000
• Max. Graduate Loan Balance: $200,000 - $249,000
• Offers Parent PLUS Refinancing: Yes

Pros

• Income-based repayment plan available
• 0.25% autopay discount
• Can defer payments for 36 months if you decide to go back to school

Cons

• Variable rates not available
• 20-year term not offered
• Cosigner release not offered

SoFi

Like ELFI and MEFA, SoFi has no maximum loan amounts — you can refinance $5,000 up to the full balance of your qualified education loans. Keep in mind that you’ll likely need very good to excellent credit to qualify with SoFi.

4.5

Credible rating

Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.

Rates and terms

Fees and Discounts

Customer Experience

SoFi Student Loan Refinancing

Fixed APR

Lowest fixed rate available from this lender

2.74%+⁶

Variable APR

Lowest variable rate available from this lender

2.25%⁶

Min. credit score

Minimum credit score needed to qualify

Does not disclose

Loan amount

Range needed to refinance with this lender

$5,000 up to the full balance

Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.

Check Personalized Rates

Checking rates won't affect your credit score

View Details

• Fixed APR: 2.74%+⁶
• Variable APR: 2.25%⁶
• Min. credit score: Does not disclose
• Loan amount: $5,000 up to the full balance
• Loan terms (years): 5, 7, 10, 15, 20
• Repayment options: Academic deferment, military deferment
• Fees: None

• Discounts: Autopay, loyalty
• Eligibility: Available in all 50 states
• Customer service: Email, phone, chat
• Soft credit check: Yes
• Cosigner release: No
• Max undergraduate loan balance: No maximum
• Max graduate loan balance: No maximum
• Offers Parent PLUS refinancing: Yes

Pros

• No maximum loan amount
• 0.25% autopay discount
• No fees

Cons

• Might be hard to qualify if you don’t have very good to excellent credit
• Cosigner release not offered
• Borrowers who didn’t complete their degree aren’t eligible

Learn More: Federal Student Loan Repayment Options

Other student loan refinancing lenders

There are also several other lenders that will refinance student loans from medical school. However, because the lenders in the table below aren’t Credible partners, you won’t be able to use Credible to compare them.

Lender	Loan terms (years)	Max loan balance
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	10, 20	Undergrad: $249,000 Grad: $199,000
Min. credit score: Does not disclose Loan amount: Up to $250,000 Loan terms (years): 10, 20 Repayment options: Academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: Autopay Eligibility: Available in all 50 states Customer service: Email, phone Soft credit check: Does not disclose Cosigner release: No Max. undergraduate Loan Balance: $150,000 to $249,000 Max. graduate Loan Balance: $150,000 to $199,000 Offers Parent PLUS Refinancing: No
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	10, 15, 20	Undergrad: $500,000 Grad: $500,000
Fixed APR: 3.91%+5 Variable APR: 1.82%+5 Min. credit score: 700 Loan amount: $7,500 to $200,000 Loan terms (years): 10, 15, 20 Repayment options: Immediate repayment, academic deferment, forbearance, loans discharged upon death or disability Fees: None Discounts: Autopay Eligibility: Must be a U.S. citizen or permanent resident and submit two personal references Customer service: Email, phone Soft credit check: Yes Cosigner release: After 36 months Loan servicer: Granite State Management & Resources (GSM&R) Max. Undergraduate Loan Balance: $150,000 to $249,000 Max. Graduate Loan Balance: $150,000 to $199,000 Offers Parent PLUS Refinancing : Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5, 7, 10, 15	Undergrad: $500,000 Grad: $500,000
Rates: fixed, variable Min. credit score: Does not disclose Loan amount: $60,000 to $350,000 Cosigner release: No Loan terms (years): 5, 7, 10, 15, 20 Fees: None Discounts: Autopay, loyalty Eligibility: Available in CA, CT, FL, MA, NY, OR, WY Customer service: Email, phone Soft credit check: Yes Max. undergraduate loan balance: $500,000 Max. graduate loan balance: $500,000
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	10, 15, 20	Undergrad: $249,000 Grad: $249,000
Rates: Fixed, variable Min. credit score: Does not disclose Loan amount: $10,000 to $250,000 Cosigner release: After 24 to 36 months Loan terms (years): 10, 15, 20 Repayment options: Military deferment, forbearance Fees: Late fee Discounts: Autopay Eligibility: Available in all 50 states Customer service: Email, phone, chat Soft credit check: Yes Loan servicer: Student Loan Finance Corporation Max. undergraduate Loan Balance: $150,000 to $249,000 Max. graduate Loan Balance: $200,000 to $249,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5, 7, 10, 15	Undergrad: None Grad: None
Min. credit score: Does not disclose Loan amount: $5,000 to $300,000 Cosigner release: Does not disclose Loan terms (years): 5, 7, 10, 15 Repayment options: Immediate repayment, forbearance, loans discharged upon death or disability Fees: Late fee Discounts: Autopay Eligibility: Available in all 50 states Customer service: Email, phone Soft credit check: Yes Max. undergraduate Loan Balance: No maximum Max. graduate Loan Balance: No maximum Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5, 7, 10, 15, 20	Does not disclose
Rates: Fixed, variable Min. credit score: Does not disclose Loan amount: $5,000 to $300,000 Cosigner release: Yes Loan terms (years): 5, 7, 10, 15, 20 Repayment options: Does not disclose Fees: None Discounts: Autopay Eligibility: Does not disclose Customer service: Email, phone Soft credit check: Yes Loan servicer: LendKey Technologies Inc. Max. undergraduate Loan Balance: Does not disclose Max. graduate Loan Balance: Does not disclose Offers Parent PLUS Refinancing: No
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	5, 10, 15	Undergrad: $99,000 Grad: $150,000
Min. credit score: Does not disclose Loan amount: Less than $150,000 Loan terms (years): 5, 10, 15 Repayment options: Academic deferment, military deferment, forbearance, loans discharged upon death or disability Fees: Does not disclose Discounts: Autopay Eligibility: Available in all 50 states Customer service: Email, phone Soft credit check: Does not disclose Cosigner release: Yes Max. Undergraduate Loan Balance: Less than $99,000 Max. graduate Loan Balance: Less than $150,000 Offers Parent PLUS Refinancing: Yes
Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology. View details	Does not disclose	Undergrad: None Grad: None
Min. credit score: Does not disclose Loan amount: No maximum Loan terms: Does not disclose Repayment options: Academic deferment, forbearance Fees: Late fee Discounts: Autopay Eligibility: Available in all 50 states Customer service: Email, phone, chat Soft credit check: Yes Cosigner release: Yes Max. undergraduate Loan Balance: No maximum Max. graduate Loan Balance: No maximum Offers Parent PLUS Refinancing: Yes
The lenders in this table aren't our partners. But you can use Credible to compare rates in 2 minutes from other lenders who offer student loan refinancing. Compare Now

How much you could save when refinancing medical school loans

If you refinance your medical school loans, you might qualify for a lower interest rate, which will save you money over the life of your loan.

However, the exact amount you could save depends on several factors — including your credit and whether you can reduce the interest rate you currently have.

You can use our calculator below to see how much you can save by refinancing your student loans.

Check Out:

• Student Loan Consolidation vs. Student Loan Refinancing
• 5 Steps to Pay Off $400k in Student Loans

When you should (and shouldn’t) refinance law school loans

Whether or not you should refinance your student loans will ultimately depend on your individual circumstances and financial goals.

For example, maybe you can score a lower interest rate and pay off your loans faster through refinancing. Or could qualify for student loan forgiveness on your federal student loans, which would make refinancing a bad idea.

Here are a few scenarios when refinancing your medical school loans could be a wise move:

You can get a better interest rate

If you can qualify for a lower interest rate, you could save money on interest charges over the life of your loan and even pay off your medical school debt ahead of schedule.

You want a lower monthly payment

If you opt for a longer repayment term through refinancing, you could lower your student loan payment and ease the strain on your budget.

This might be especially helpful during residency when you aren’t making as much money as you likely will later in your career. However, keep in mind that choosing a longer repayment term means you’ll pay more in interest over time.

You want to change the type of interest rate you have

Through refinancing, you can change from a fixed rate to a variable rate — or vice versa. With a fixed rate, your interest rate and payments will never change.

Variable rates often start out lower than fixed rates but might fluctuate over time. You’ll have to decide which type of rate is best for you.

And here are some situations where refinancing might not be smart:

You can’t get a better rate

If you already have a low interest rate, refinancing might not be worth it.

You have federal student loans

While you can refinance federal student loans, doing so will cost you federal protections, such as access to income-driven repayment plans and student loan forgiveness programs.

Additionally, you’ll also lose your federal benefits under the CARES Act, which has suspended federal student loan payments and interest accrual through at least Sept. 30, 2021 due to the COVID-19 pandemic. As such, it might be a good idea to wait to refinance federal student loans while focusing on private student loans for now.

You could qualify for student loan forgiveness

There are several student loan forgiveness programs available to doctors, nurses, and other healthcare professionals who have federal student loans. If you could qualify for one of these medical school loan forgiveness programs, refinancing probably isn’t a good idea.

If you decide to refinance your student loans, you might be able to save money on interest and even pay off your loans early. You can estimate how long it’ll take to pay off your student loan debt using the calculator below. Use the slider to see how increasing your payments can change the payoff date.

Learn More: When to Refinance Student Loans

How to get the best interest rate when refinancing medical school loans

Here are a few tips that could help you get the best interest rate you can when refinancing your medical school loans:

• Improve your credit. You’ll generally need good to excellent credit to qualify for the lowest rates from lenders. If you can wait to refinance, it could be a good idea to spend some time improving your credit first to score a lower rate in the future. Some ways to potentially build your credit include becoming an authorized user on a credit card, disputing any errors on your credit reports, and making on-time payments on all of your bills.
• Consider a cosigner. If you’re looking to refinance student loans with bad credit, applying with a cosigner could be a good idea. Even if you don’t need a cosigner to qualify, having one could get you a lower interest rate than you’d get on your own. Just keep in mind that your cosigner will be equally responsible for the loan if you can’t make your payments.
• Shop around and compare lenders. Be sure to compare as many student loan refinance companies as possible to find the right loan for you. Rates vary between lenders, so considering as many options as you can could help you find a good deal.

Check Out: How to Refinance Your Student Loans

Is refinancing a good idea?

If you can lower your interest rate, get a payment that fits more comfortably in your budget, or otherwise simplify your student loan repayment, then refinancing might be a good idea.

However, it isn’t always right for everyone. You’ll need to consider your personal circumstances and financial goals to make the best decision for you.

Learn More: Pharmacists Student Loan Forgiveness Guide

Will refinancing hurt your credit score?

Generally, refinancing shouldn’t hurt your credit score since your loan balances aren’t changing. You might see a slightly negative impact on your score when you apply and the lender performs a hard credit check — however, this is usually only temporary, and your score will likely bounce back within a few months.

Also keep in mind that there’s no limit on how often you can refinance student loans, meaning you could refinance again if rates drop in the future.

Check Out: Student Loan Forgiveness for Nurses

More resources

Compare rates from:

• Lenders that refinance MBA loans
• Lenders that refinance law school loans
• Lenders that refinance Parent PLUS Loans
• Lenders that allow you to refinance student loans without a degree

About the author

Aly J. Yale

Aly J. Yale is a mortgage and real estate authority. Her work has appeared in Forbes, Fox Business, The Motley Fool, Bankrate, The Balance, and more.

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