6 Best MBA Student Loan Refinancing Options of August 2021

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ISL refinance loan


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ISL refinance loan

Best for pre-graduation refinancing

670

2.55 – 7.63%

N/A

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Nelnet Bank Refinance Student Loan

Nelnet Bank Refinance Student Loan

Best for pre-graduation refinancing

640

2.55 – 5.59%

The lowest rate for any type of loan requires automatically withdrawn (“direct debit”) payments. The lowest rate is only available to the most creditworthy applicants. Not all borrowers get the lowest rate. The interest rate and annual percentage rate (APR) may be higher depending on (1) the credit history of the borrower and, if applicable, the co-signer, (2) the repayment option and loan term selected, (3) the loan type selected, and (4) the highest attained level of education. If approved, applicants will be notified of the rate eligible for within the stated range.

1.95 – 5.63%

The lowest rate for any type of loan requires automatically withdrawn (“direct debit”) payments. The lowest rate is only available to the most creditworthy applicants. Not all borrowers get the lowest rate. The interest rate and annual percentage rate (APR) may be higher depending on (1) the credit history of the borrower and, if applicable, the co-signer, (2) the repayment option and loan term selected, (3) the loan type selected, and (4) the highest attained level of education. If approved, applicants will be notified of the rate eligible for within the stated range.

PenFed Student Loan Refinance

PenFed Student Loan Refinance

Best for fast payout

670

2.89 – 5.08%

Rates and offers valid as of June 1, 2021. Annual Percentage (APR) is the cost of credit that calculates the interest rate, loan amount, repayment term, and timing of payments. Flat rates range from 2.89% APR – 5.08% APR. Fixed rates depend on the application conditions, the diploma and the presence of a co-signer. These rates are subject to additional terms and conditions and are subject to change at any time without notice. Such changes will only apply to applications submitted after the effective date of the change.

N/A

Rates and offers valid as of June 1, 2021. Annual Percentage (APR) is the cost of credit that calculates the interest rate, loan amount, repayment term, and timing of payments. Flat rates range from 2.89% APR – 5.08% APR. Fixed rates depend on the application conditions, the diploma and the presence of a co-signer. These rates are subject to additional terms and conditions and are subject to change at any time without notice. Such changes will only apply to applications submitted after the effective date of the change.

Refinance Serious Student Loan

Refinance Serious Student Loan

Best for fast payout

650

2.50 – 5.79%

Specific Annual Percentages (APRs) offered within these ranges depend on a number of factors, including your creditworthiness and other application details. Annual Percentages (APRs) reflect 0.25% discount for optional autopay enrollment. Your approval for a serious loan is conditional on the full acceptance of your loan application. Read more about eligibility for a loan with Earnest here: https://www.earnest.com/eligibility

1.88 – 5.64%

Specific Annual Percentages (APRs) offered within these ranges depend on a number of factors, including your creditworthiness and other application details. Annual Percentages (APRs) reflect 0.25% discount for optional autopay enrollment. Your approval for a serious loan is conditional on the full acceptance of your loan application. Read more about eligibility for a loan with Earnest here: https://www.earnest.com/eligibility

College Ave Student Loan Refinance

College Ave Student Loan Refinance

Best for fast payout

Upper 600s

2.99 – 4.89%

College Ave Student Loans products are made available through Firstrust Bank, member FDIC or MY Safra Bank, FSB, member FDIC. All loans are subject to individual approval and compliance with underwriting guidelines. Program restrictions, other terms and conditions apply. As certified by your school and less any other financial aid you may receive. Minimum $1,000. The rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction will apply as long as a valid bank account is designated for the required monthly payments. Variable rates may increase upon completion. This informative repayment example uses typical loan terms for a first-year borrower who selects the fixed repayment option with an 8-year repayment term, has a $10,000 loan that is paid in one installment, and has a fixed annual rate of 7.78% (“APR “): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 during the repayment period, for a total amount of payments of $18,266.38. Loans never have a full principal and monthly interest payment of less than $50. Your actual rates and repayment terms may vary. This informative repayment example uses typical loan terms for a first-year borrower who selects the deferred repayment option with a 10-year repayment term, has a $10,000 loan that is paid in one installment, and has a fixed annual rate of 8.35% (“APR “): 120 monthly payments of $179.18 during the repayment period, for a total amount of payments of $21,501.54. Loans never have a full principal and monthly interest payment of less than $50. Your actual rates and repayment terms may vary. Advertised information valid from 8/9/2021. Floating interest rates may rise upon completion. Approved interest rates depend on the creditworthiness of the applicant(s), the lowest advertised rates are available only to the most creditworthy applicants and require selection of full principal and interest payments with the shortest possible loan term.

2.94 – 4.79%

College Ave Student Loans products are made available through Firstrust Bank, member FDIC or MY Safra Bank, FSB, member FDIC. All loans are subject to individual approval and compliance with underwriting guidelines. Program restrictions, other terms and conditions apply. As certified by your school and less any other financial aid you may receive. Minimum $1,000. The rates shown are for the College Ave Undergraduate Loan product and include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for the required monthly payments. Variable rates may increase upon completion. This informative repayment example uses typical loan terms for a first-year borrower who selects the fixed repayment option with an 8-year repayment term, has a $10,000 loan that is paid in one installment, and has a fixed annual rate of 7.78% (“APR “): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 during the repayment period, for a total amount of payments of $18,266.38. Loans never have a full principal and monthly interest payment of less than $50. Your actual rates and repayment terms may vary. This informative repayment example uses typical loan terms for a first-year borrower who selects the deferred repayment option with a 10-year repayment term, has a $10,000 loan that is paid in one installment, and has a fixed annual rate of 8.35% (“APR “): 120 monthly payments of $179.18 during the repayment period, for a total amount of payments of $21,501.54. Loans never have a full principal and monthly interest payment of less than $50. Your actual rates and repayment terms may vary. Advertised information valid from 8/9/2021. Floating interest rates may rise upon completion. Approved interest rates depend on the creditworthiness of the applicant(s), the lowest advertised rates are available only to the most creditworthy applicants and require selection of full principal and interest payments with the shortest possible loan term.

Refinance SoFi student loan

Refinance SoFi student loan

Best for extra features

650

2.74 – 6.94%

Flat rates from 2.74% APR to 6.94% APR (with autopay). Variable rates from 2.25% APR to 6.59% APR (with autopay). All variable rates are based on 1-month LIBOR and may increase after consumption if LIBOR rises; see more at SoFi.com/legal/#1. If approved for a loan, your rate will depend on several factors, such as your credit profile, your application and your selected loan terms. Your rate falls within the rates listed above. Lowest rates reserved for the most creditworthy borrowers. SoFi refinancing loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as means-tested repayment or means-tested repayment or PAYE. SoFi loans come from SoFi Lending Corp. or an affiliate (dba SoFi), a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license #6054612; NMLS #1121636 (www.nmlsconsumeraccess.org). Additional terms and conditions apply; see SoFi.com/eligibility for details. SOFI RESERVES THE RIGHT TO CHANGE OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

2.25 – 6.59%

Flat rates from 2.74% APR to 6.94% APR (with autopay). Variable rates from 2.25% APR to 6.59% APR (with autopay). All variable rates are based on 1-month LIBOR and may increase after consumption if LIBOR rises; see more at SoFi.com/legal/#1. If approved for a loan, your rate will depend on several factors, such as your credit profile, your application and your selected loan terms. Your rate falls within the rates listed above. Lowest rates reserved for the most creditworthy borrowers. SoFi refinancing loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as means-tested repayment or means-tested repayment or PAYE. SoFi loans come from SoFi Lending Corp. or an affiliate (dba SoFi), a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license #6054612; NMLS #1121636 (www.nmlsconsumeraccess.org). Additional terms and conditions apply; see SoFi.com/eligibility for details. SOFI RESERVES THE RIGHT TO CHANGE OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.