Best Student Loan Refinancing Lenders of 2026
If you're earning a steady income and have good credit, refinancing your student loans could save thousands. These lenders offer the best rates and terms for refinancing both federal and private student loans.
Our Top Pick
SoFi Student Loans
Best OverallSoFi sets the standard for private student loan refinancing with industry-leading rates, outstanding member benefits, and a commitment to borrower success. Best choice for borrowers seeking comprehensive financial wellness support beyond just loans.
Rankings
SoFi Student Loans
by Social Finance Inc.
Leading fintech lender offering competitive fixed and variable rates with extensive borrower benefits and member perks.
Key Features
Pros
- • Highly competitive fixed and variable rates
- • Extensive borrower benefits (unemployment protection, career coaching)
- • No origination, application, or prepayment fees
Cons
- • Requires good credit (generally 680+ for best rates)
- • Doesn't offer federal loan consolidation directly
Earnest
by Earnest Operations LLC
Flexible student loan lender offering customizable payment plans and transparent underwriting focused on borrower success.
Key Features
Pros
- • Customizable payment plans (choose any term between 5-30 years)
- • Flexible underwriting (considers alternative income sources)
- • Competitive rates starting around 5.75% fixed
Cons
- • Minimum loan amount typically $10,000
- • Rates require good credit (generally 700+)
KeyBank (formerly Laurel Road) Student Loan Refinancing
by KeyBank
Student loan refinancing now offered through KeyBank after Laurel Road fully merged into KeyBank in March 2026. Existing Laurel Road borrowers continue under the same loan terms; new borrowers should apply through KeyBank Student Loan Refinancing.
Key Features
Pros
- • Highly competitive refinancing rates (among lowest available)
- • Specialized refinancing expertise and knowledge
- • Fast approval and funding (5-10 days typical)
Cons
- • Refinancing only (not new student loans)
- • Requires good credit (typically 700+)
Splash Financial
by Splash Financial
Student loan refinancing platform aggregating quotes from multiple lenders, enabling borrower comparison shopping.
Key Features
Pros
- • Compare multiple lenders' rates in one place
- • No hard credit pull upfront (soft inquiry)
- • Access exclusive lender partnerships
Cons
- • Not a lender (intermediary platform)
- • Rates ultimately depend on actual lenders
Education Loan Finance (ELFI)
by Education Loan Finance Inc.
Digital-focused student loan refinancing platform with streamlined underwriting and competitive rates.
Key Features
Pros
- • Fully digital application and process
- • Fast pre-approval and funding (3-5 days)
- • Competitive rates for refinancing
Cons
- • Rates not always lowest (Laurel Road sometimes better)
- • Limited borrower benefit programs
Citizens Bank Student Loans
by Citizens Bank
Major bank offering student loans with established relationships, competitive rates, and in-school borrowing options.
Key Features
Pros
- • Major bank institution with 1,000+ branches across the Northeast and Midwest
- • Competitive rates for undergraduate and graduate borrowing
- • In-school deferment available for current students
Cons
- • Rates not always most competitive vs. fintech lenders
- • Limited borrower benefit programs
Full Comparison
| Feature | SoFi Student Loans | Earnest | KeyBank (formerly Laurel Road) Student Loan Refinancing | Splash Financial | Education Loan Finance (ELFI) |
|---|---|---|---|---|---|
| Fixed APR | 4.24% - 9.99% (with autopay + SoFi Plus discount, refinance) | 3.49% - 9.99% (with 0.25% autopay discount, refinance) | 4.62% - 11.98% | 5.00% - 14.50% | 5.24% - 12.98% |
| Variable APR | 5.99% - 9.99% (with autopay + SoFi Plus discount, refinance) | 5.88% - 9.99% (with 0.25% autopay discount, refinance) | 3.99% - 10.98% | 3.99% - 13.99% | 4.49% - 11.98% |
| Loan Amounts | Up to $500,000 | Up to $500,000 | Up to $500,000 | Up to $500,000 | Up to $300,000 |
| Cosigner Release | Yes | No | Yes | Yes | Yes |
| In-School Deferment | No | No | No | No | No |
| Our Rating | 4.8/5Best | 4.7/5 | 4.4/5 | 4.3/5 | 4.2/5 |