7 Best Student Loan Refinance Companies

May 6, 2019 No comments exist

By Joseph Reinke, CFA, Founder of FitBUX

We've helped FitBUX Members manage and eliminate over $700 million in student loans over the past two years.  In doing so, we've helped them shop various student loan refinance companies as part of our free student loan refinance service. We've also helped Members throughout the refinance process to ensure they are able to get the refinance completed.

Over the past two years, we have also developed good relationships with multiple student loan refinance companies. In addition, we have been able to "weed out" the ones that we don't think can benefit our Members and/or those that we've received a lot of complaints about.

Below is a list of the 7 best student loan refinance companies that FitBUX has chosen to partner with. For more information on each, you may click on each one for an in depth review.

Also, we've put together a student loan refinance checklist to help you throughout the refinance process. To download it, please enter your information below and we will send it to you via email.

FitBUX's 7 Best Student Loan Refinance Companies

Splash Financial has competitive rates and won FitBUX's 2019 award for best new student loan refinance company. 

Check out an in-depth review of Splash Financial by clicking the button below.

SPLASH FINANCIAL REVIEW

LendKey shops over 275 credit unions and community banks. They won FitBUX's 2019 award for best customer service. 

Check out an in-depth review of LendKey by clicking the button below.

LENDKEY REVIEW

Commonbond is one of the best student loan refinance companies to work with. They won FitBUX's 2019 award for most improved technology. 

Check out an in-depth review of Commonbond by clicking the button below.

COMMONBOND REVIEW

Laurel Road is FitBUX's newest student loan refinance partner. Definitely check them out if you are in the healthcare industry 

Check out an in-depth review of Laurel Road by clicking the button below.

LAUREL ROAD REVIEW

Earnest won FitBUX's 2019 award for having the best technology. They are the fastest student loan refinance company in the industry. 

Check out an in-depth review of Earnest by clicking the button below.

EARNEST REVIEW

SoFi won FitBUX's 2019 award for being the best marketing student loan refinance company. They have some of the best technology and are quick to fund loans. 

Check out an in-depth review of SoFi by clicking the button below.

SOFI REVIEW

Thrivent's management team has years of industry experience. We expect to see good things coming soon. 

Check out an in-depth review of Thrivent by clicking the button below.

THRIVENT REVIEW

Current Rates

Below are rates that we are "typically" seeing right now for those applying without a co-signer.  By "typically" I am referring to what you can actually expect to receive not the ultra low rates that all the student loan refinance companies advertise.

5 Year Fixed Rate Loan: 3.6%

10 Year Fixed Rate Loan: 4.33%

15 Year Fixed Rate Loan: 5.29%

20 Year Fixed Rate Loan: 5.80%

How The Top 7 Are Chosen

We want Members of FitBUX to have a good experience. Therefore, we look at a number of factors when determining which student loan refinance companies we partner with.  Below is a brief list of the factors we take into account:

  1. Technology Platform: How easy is it for people to get a quote, complete an application, and get their loan funded?
  2. Rates Stability: We want to make sure what you interest rate you are quoted is the same rate at the end of the process. I.e. the lender doesn’t quote you something good then increase your rate at the end.
  3. Quality of Customer Service: This is key during the application process as well as after the loan is completed.
  4. Product Availability: We want to make sure we have a lender that can service you. Therefore, we don’t include anyone that is geographically limited.
  5. Ease of Interaction: To make the end to end process as smooth as possible for FitBUX Members, we try and communicate with the company directly. However, due to legal restrictions, there may be instances where a FitBUX Member has to join a 3-way call with us and the lender. Some companies are better than others when it comes to this.
  6. Rates Competitiveness: We want to make sure that our refinance partners offer the most competitive interest rates in the market. We also have a few partners that will compete against each other if the situation is right.

Please note that there are student loan refinance companies that we’ve partnered with that we decided to no longer work with.  Some have really big names, others are small companies who are struggling with development.

Either way, our Members have tended to have bad experiences with these companies or they don’t meet our requirements above.

Therefore, if you don’t see a company on our list, chances are we know who they are and have decided not to work with them.  You are more than welcome to ask your FitBUX Coach about these other companies.

FitBUX’s Unique Approach

The primary thing we want all our Member’s to know…We work for you not the lender!  Our approach is unique in two ways:

First, we help you determine whether refinancing is right for you and whether you should be using our free student loan refinance service.

Your FitBUX Coach will help you:

  1. Analyze your situation, crunch numbers for you, and help determine if refinancing is right for you,
  2. Find the best student loan refinance company for your situation,
  3. Help you choose the right loan product,
  4. Help you throughout the process should you need it, and
  5. Call your old lender with you should they not allocate the funds correctly or make other mistakes along the way.

Second, we have a truly unbiased approach.  I have spent a lot of time in the finance world and have personally witnessed “financial professionals” simply push certain products that pay them the most.

My personal goal is to avoid that at FitBUX.

While all of our student loan refinance partners pay us when you refinance, your FitBUX Coach does not know which company pays us more relative to other companies.  In addition, your FitBUX Coach is a salaried employee and does not get paid on commission.  Therefore, they have zero to gain or lose based on if you refinance or not.

We truly have your best interest in mind. Period.

Student Loan Refinance Giveaway

 

We know that finding a student loan planner is hard. If you are looking for free expert help with your student loans, be sure to check out FitBUX's free student loan refinance service.

If you'd like to read more about student loan refinancing, check out our page dedicated to refinance articles and be sure to read our Ultimate Student Loan Refinance Guide. Want to read more about money? Check out FitBUX's blog.

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