Best Student Loan Refinance Lenders Of June 2024

Are you a recent graduate burdened by student loan debt? Are you looking for ways to save money on interest and simplify your repayment process? If so, student loan refinancing might be the solution for you. In this blog post, we will discuss the best student loan refinance lenders of June 2024 to help you make an informed decision.

1. SoFi®
SoFi offers competitive variable and fixed APR rates, making it a popular choice for student loan refinancing. One unique feature of SoFi is that it allows borrowers with an associate’s degree to refinance, expanding eligibility to a wider range of applicants. Additionally, SoFi does not place a limit on the amount you can refinance, making it a great option for those with a significant amount of debt from professional degrees.

2. MEFA
The Massachusetts Educational Financing Authority (MEFA) is a nonprofit, state-based agency that offers student loan refinancing to customers across the country. MEFA does not require borrowers to have a degree, making it accessible to a broader range of individuals. It also offers no fees, including late fees, and provides flexibility in repayment options.

3. Citizens Bank
Citizens Bank is another top lender that does not require borrowers to have graduated in order to refinance. It offers a co-signer release option after 36 loan payments, making it a flexible choice for borrowers. While the interest rates at the high end may be higher compared to other lenders, borrowers can qualify for an interest rate discount if they have an existing account with the bank.

4. Laurel Road
Laurel Road, an online-only lender acquired by KeyBank, offers unique perks for borrowers in the healthcare field. Graduate students and those pursuing health professions degrees can refinance as early as their final semester of school with an employment offer. Laurel Road also allows co-signer release after 36 monthly payments, providing flexibility for borrowers.

5. Earnest
Earnest offers a variety of repayment terms and allows borrowers to customize their loan terms, making it a popular choice for those looking for flexibility. Borrowers with an associate’s degree can also refinance with Earnest, and the lender offers a solid range of hardship repayment options beyond the standard forbearance period.

Refinancing your student loans can help you save money on interest and simplify your repayment process. Consider these top student loan refinance lenders of June 2024 to find the best option for your financial situation. Remember to compare rates, terms, and eligibility requirements before making a decision.