So today we’re gonna be breaking down some of the Best Student Loan Refinance Companies 2022 now refinancing your student loans only takes a couple hours but can save you thousands and thousands of dollars.
So let’s go ahead and go through this list and see which company might work best for you so when we hop on here the first company we’re going to see is earnest now ernest is a company that Is going to allow you to do a couple really awesome things first and foremost it is entirely free to refinance your student loans with them. Now there is also no early payment penalties so if you’re somebody who wants to pay down your loan even faster you can definitely do so you can also adjust payment dates.
So if there certain dates work best for you you can go that route you can also do bi-weekly auto pay which Really helps a lot of people to knock down those student loans even faster and then the really cool thing about earnest is that they actually analyze beyond just the credit score so they actually look at your other portions of your history whether you’re paying you know a rent maybe you’re paying your phone bill those things will actually have an effect when looking at your credit score.
You can also combine multiple loans so if you have loans from different companies or different schools you can actually have those all combined and you can also skip one payment per year maybe something is going on and you need to go ahead and skip a payment keep in mind that that payment does get tacked on to the end and then you also have disability and death benefits which is a big deal when it comes to student loans .
Because those are one of the only things that are not forgiven but ernest will still give you that forgiveness but you have to make sure you follow along with the stipulations to get those benefits and then the nice thing is as well too there is a hundred dollar bonus currently right now for refinancing your student loans , which i will have a link to them.
Next up here is going to be with sofi so sofi is also free to refinance as well and there are also no early payment penalties now there is a five thousand dollar minimum so you want to make sure that you’re refinancing a decent amount with them .
There is an auto pay discount so if you are somebody who wants to go ahead and save some money you could have everything through auto pay there is also unemployment protection if something happens to you you can actually get your loans put on furlough essentially until you can get back onto your fee now you cannot remove a cosigner so this is something you want to keep in mind if you have a parent or somebody else Co-signing these loans with you you do also have to have a credit score of 650 or more but the really cool thing with sofi is, if you go ahead and refinance with them through the link in the show notes you get a 300 bonus for going through and completing that not only are you saving on the interest .
But you’re getting that nice bonus on top of it now next up here is going to be with splash financial Now this is also a free to refinance company and there are also no early payment penalties now you might be able to see a trend of the companies i’m recommending which are all free to refinance and pretty much have no early payment penalties those are all really important to me and making sure that i pass on those great offers to you guys as well now splash financial does have also a 5 000 minimum so we need to make sure that You have a decent amount in the student loans to be able to refinance they’re actually great for medical student loans.
So if you are in medical school and you need a refinance splash financial actually mainly focused originally on refinancing medical loans so they have a pretty nice specialty when it comes to helping those students out now with splash financial you can actually remove a cosigner.
So if you Have a family member or a friend that is actually co-signed with you you can actually get those people removed and then you do need to have a 650 credit score when going through the process now there is a soft pull on checking your credit but most of these companies do the same thing with those soft pulls once everything kind of goes through the full motion It will be a hard pull on that credit now next up here is going to be len key now with len key just like the other ones it’s free to refinance no early payments and also a 5 000 minimum this is great for medical loans as well and then you can also remove a cosigner on top of this now this one only requires a 650 credit score as well as the opportunity to have Forbearance for up to 18 months now keeping in mind those 18 months will still be added on towards the back end if needed to and then you can also check your rates here without doing a hard credit pull but again .If going through the full process you will also get your actual hard credit pool once you go through the process of fully refinancing your student loans.