Brazos Student Loan Refinancing Review

Best for:

• Graduates with strong credit and income
• Refinancing without a cosigner
• Texas residents

Brazos Higher Education is a nonprofit lender that offers student loan refinancing to Texas residents at competitive rates and with flexible terms. If you’ve finished your degree and have an established income and credit history, you may be eligible to refinance your student loan debt with Brazos.

Here’s what you should know when considering refinancing your student loans with Brazos.

In this post:

• Brazos interest rates and loan details
• Brazos student loan refinancing review
• How Brazos compares to other lenders
• How to refinance student loans with Brazos

Brazos refinancing interest rates and loan details

Brazos requires a minimum credit score of 720 and income of at least $60,000, if you plan to apply without a cosigner. But well-qualified borrowers can get low rates and refinance up to $150,000 if they completed a bachelor’s degree and $400,000 if they’ve earned a graduate or professional degree.

Credible rating	4.4
Rates from (APR)	Fixed: 4.9%+ Variable: 5.33%+
Loan amounts	$10,000 up to $400,000 (depending on degree)
Loan terms	5, 7, 10, 15, 20 years
Loan types	Any private or federal student loan (including PLUS loans)
Min. credit score	720
Min. income	$60,000 ($30,000 with cosigner)
Residency	Must be a U.S. citizen or permanent resident Must be a resident of Texas
Cosigner release	Not offered
Transfer parent loan to child?	No
Fees	No application, origination, or disbursement fees
Prepayment penalty	None
Key benefits	0.25% autopay discount
Education	Bachelor’s degree required
Death discharge available	If borrower of a cosigned loan dies, cosigner is responsible for repayment of the loan over the remainder of the repayment term If cosigner dies, Brazos will not declare the loan in default or accelerate payment Brazos will not pursue the estate of any deceased borrower or cosigner
Loan servicer	Firstmark Services (Nelnet)
Best if	You don't need a cosigner You have strong credit and income You want a wide selection of repayment terms
All APRs reflect autopay and loyalty discounts where available

Brazos student loan refinancing review

In addition to offering competitive rates, Brazos offers a good selection of repayment terms, ranging from 5 to 20 years. Choosing a shorter repayment term helps you qualify for a lower rate, minimizing your total interest charges. Stretching out repayment over a longer period of time can lower your monthly payment amount, but your total repayment costs may increase.

There are no origination or application fees, and interest rates could be lower than what you find with other private lenders. Borrowers also have the choice between both fixed- and variable-rate loans.

How to qualify

While Brazos has somewhat strict credit and income requirements, it’s easier to qualify if you apply with a creditworthy cosigner. If you apply alone, you’ll need a minimum income of $60,000 and a credit score of 720 or higher. But if you add a cosigner to your application, the minimum credit score is 690 and the minimum income is $30,000.

Just keep in mind that if you do refinance with a cosigner, Brazos doesn’t offer cosigner release. If you want to relieve your cosigner of their obligation when you’re in a stronger financial position, you must refinance your loans again.

When you apply, you’ll also need:

• Your Social Security number
• Proof of income
• A state ID or driver’s license to prove you’re a Texas resident

Repayment

Monthly payments on Brazos loans are collected by Firstmark Services, a division of Nelnet.

You can earn a 0.25% interest rate reduction when you authorize automatic payments from your checking or savings account. Brazos also offers other benefits like these forbearance options:

• Economic hardship: If you run into unexpected financial problems, Brazos offers economic hardship forbearance that allows you to defer payments on your loan for 3 months at a time, with a total limit of 12 months.
• Active duty military: Forbearance is available if you’re called up for active duty military service.
• Natural disaster: If you’re affected by a natural disaster, Brazos has forbearance options for you.

If you’re granted forbearance, though, keep in mind interest charges will continue to accrue on your loans.

How Brazos compares to other lenders

	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.	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.	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 from (APR)	Fixed: 4.9%+ Variable: 5.33%+	Fixed: Check with lender Variable: N/A	Fixed: 7.0%+1 Variable: 7.29%+1
Loan repayment terms (Years)	5, 7, 10, 15, 20	5, 8, 12, 15	5, 7, 10, 15, 20
Loan amount	$10,000 to $400,000	$7,500 to $300,000	$10,000 to $500,000 (depending on level of education)
Cosigner release?	Not offered	Applications accepted after 12 months of consecutive on-time payments	Yes, applications accepted after 36 months of consecutive payments
Transfer parent loan to child?	No	Yes	No
Loan servicer	Firstmark Services (Nelnet)	PenFed	Firstmark Services (Nelnet)
Best for	Graduates with strong credit and income	Refinancing student loans taken out by parent or spouse	Refinancing large loan balances
Considering student loan refinancing? Compare Rates Now
All APRs reflect autopay and loyalty discounts where available | 1Citizens Disclosures | 2College Ave Disclosures | 3 ELFI Disclosures | 4INvestEd Disclosures | 5ISL Education Lending Disclosures

How to refinance student loans with Brazos

If you live in Texas, finished your degree, and have good credit and earnings, it’s worth checking rates for student loan refinancing with Brazos.

Before making a final decision, it’s wise to also compare rates from other lenders that offer student loan refinancing. Credible makes it easy to request rates from Brazos and other top lenders that offer student loan refinancing by filling out a single form without hurting your credit score.

How Brazos can improve

Even though Brazos has helped thousands of Texas residents refinance their student loans, it could be even more valuable to borrowers by:

• Offering refinancing to residents of other states
• Accepting applications for cosigner relief
• Letting the student take over PLUS loans that their parents took out on their behalf

About the author

Matt Carter

Matt Carter is a Credible expert on student loans. Analysis pieces he’s contributed to have been featured by CNBC, CNN Money, USA Today, The New York Times, The Wall Street Journal and The Washington Post.

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