Raptor’s 8 Best Student Loan Consolidation and Refinance Companies – Top Banks and Lenders (2022)

Raptor’s 8 Best Student Loan Consolidation and Refinance Companies (2022)

If you’re in the market to refinance your student loan, then you know that there are a lot of lenders out there to choose from
-some great, some not so great.
So how do you know which one to choose?
Luckily for you, we’ve done some research to help make this process a bit easier and we have put together a list of 8 of the best companies for student loan refinance and consolidation.
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Raptor’s Picks

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Why You Should Consolidate and Refinance with Them

Here’s a breakdown of each lender/company on our list and what makes them among our favorites.
Earnest offers rates that are among the lowest in the industry, and they are known for offering incredibly flexible repayment terms, plus added protections and top-notch customer
service. Earnest also gets extra points for offering lifetime loan servicing, meaning your loans won’t be re-sold to a third party.

As a newer lender in the market, Earnest offers flexible underwriting that is based on a number of factors not generally included in a traditional credit check.


  • Save money on your student loans by refinancing with Earnest
  • Extremely flexible loan terms allow you to pick your payment and repay anywhere from 5 to 20 years
  • Consolidate federal or private loans
  • Non-traditional credit check considers a broader range of factors
  • Lifetime loan servicing (no third parties)
  • 12 months of unemployment protection (3 months at a time)
  • Ability to skip a payment every 12 months, after 6 months of payments
  • Minimum $5,000 balance to refinance
  • No origination, prepayment, or other hidden fees


Credible loan consolidation and refinancing
Compare rate offers from about 13 lenders


Credible operates as a comparison tool for student loan refinance options. In just a few minutes, students can
get rate offers and compare loan terms from multiple lenders.
But, that’s where Credible’s role ends. Once you’ve completed your loan, it will be serviced by the lender that you’ve chosen which may mean your loan is sold off to third parties in the future. So, be sure to do your research into all aspects of the loan. Despite that, the service is incredibly valuable in allowing borrowers to quickly and easily compare rates and terms from multiple lenders and then choose the right one.

In addition, Credible offers top-notch customer support by phone, email, or live chat. If you’ve got questions about your student loan refinance, they can help you answer it.


  • 5 – 20 year terms available
  • Consolidate federal and private loans
  • $5,000+ balances for refinance
  • No origination, prepayment, or other hidden fees


Get rate offers from Credible

LendKey offers a network of not-for-profit local and regional credit unions and community banks for students looking to refinance their student loans. They act as a marketplace, allowing borrowers to get pre-qualified rates from multiple local and regional lenders and then choose the best fit.
Once your loan is approved and processed by the credit union of your choice, LendKey does act as your loan servicer-and they stick with your loan for life, rather than selling it off to a third-party. They also offer some of the lowest rates in the industry.

Get rate offers from LendKey


  • 2-Minute rate check with no impact on your credit score
  • Choose from fixed and variable rates in 5, 7, 10, 15, 20 year term options to fit your budget
  • *275+ not-for-profit and community lenders to choose from mean higher chances for approval and lower rates
  • Available for private and federal, undergraduate and grad school student loans
  • 0.25% Interest Rate Reduction with automatic payments
  • *Interest only repayment option available for up to first four years of repayment
  • *Largest unemployment protection period in the market at 18 months
  • No origination fees or prepayment penalties
  • Cosigner release available after 12 monthly payments
  • No handoffs ever, you stay with LendKey from application to final payment
  • 97% borrower satisfaction shows our best in class customer service


Laurel Road is an established lender and is historically known for working with students refinancing graduate degrees and high debt amounts. They generally are best suited for graduated with degrees and careers in high-paying fields (physician, advanced
nursing, engineering, etc.)
For students who qualify, Laurel Road offers the same competitive rates as many other lenders and 5, 7, 10, 15,
or 20-year loan terms. They also offer a cap on variable rate interest and no origination or prepayment fees.

Get rate offers from Laurel Road


  • Private lender for high-debt students
  • Refinancing available for both graduate and undergraduate degrees
  • Consolidate private and federal loans
  • 5, 7, 10, 15, and 20 year terms available
  • Also offers refinance programs for parents who borrowed to finance their child’s education
  • Fixed cap on variable-rate loans
  • No origination fee or prepayment penalty


CommonBond’s core mission is to bring transparency to the world of college financing. They offer affordable and simpler plans to their borrowers. Customer service is at the heart of everything they do. They aim to change the student loan industry, and are the only lender to donate to the education of a child in need with every loan they fund.
In addition to student loan refi options, CommonBond also offers refinancing for parent PLUS loans. With their easy applications and $200 referral bonus, CommonBond is a great option for student borrowers.

Get rate offers from CommonBond


  • Refinancing available for both graduate and undergraduate degrees
  • Consolidate private and federal loans
  • 5, 7, 10, 15, and 20 year terms available
  • Also offers refinance programs for parent PLUS loans
  • Temporarily postpone payments in the event of financial emergency
  • Award-winning customer service


ISL Education Lending has been a pillar in the Midwest for helping students and families with their college financing for more than 40 years. They now offer a refinancing option for student loan borrowers across the nation. ISL and its subsidiary handle all aspects of the loan, from origination through lifetime loan servicing.
As a nonprofit company, ISL provides competitively priced student loans as well as valuable financial literacy tools and scholarship opportunities. It is mission-driven to help students obtain the resources necessary to succeed in postsecondary education.

ISL’s experienced and knowledgeable customer service representatives are available to help you make the refinancing decisions that are right for you based on your own personal circumstances.


  • Quick – less than a minute – and easy rate check with no impact to your credit
  • No origination fees, prepayment or hidden fees
  • Refinancing available for federal (including PLUS Loans for parents) and private education loans
  • Multiple repayment options (5-20 years) available
  • Standard and graduated repayment plans available for longer terms
  • Options available to postpone payments for qualifying financial hardships
  • Offered by a Midwestern nonprofit with more than 40 years of experience focused solely on college
  • Available to student loan borrowers nationwide
  • Lifetime loan servicing with one company
  • Cosigner release available

Get a no-obligation rate offer from ISL Education Lending.


When it comes to refinancing student loans, College Ave knows that there is no such thing as a “one-size-fits-all” approach. Everyone has their own personal budget and goals. College Ave will help you choose how many years you take to pay back your refi loan so you can be confident that your loan is working for you.

Get rate offers from College Ave


    • Get prequalified in 1 minute
    • Competitive fixed and variable rates
    • Loan terms range from 5 – 20 years
    • Refinance loan amounts as low as $5,000
    • Consolidate federal or private loans
    • 5, 7, 10, 15, and 20 year terms available
    • No origination, prepayment, or other hidden fees


Education Loan Finance (also known as ELFI) is a division of SouthEast Bank, based in Tennessee, designed specifically to help borrowers with refinancing their student loans. Refinancing with ELFI is a great option for borrowers that value customer service. One of the highlights is that ELFI gives you access to your own Student Loan Advisor to help you through the process
ELFI is offering a $400 referral bonus for every borrower successfully referred, and the borrower will get an additional $100.

Get rate offers from ELFI


  • Prequalify to estimate your rate without affecting your credit score
  • Submit online application in minutes
  • No application fees, origination fees, or prepayment penalties
  • Low rates and flexible repayment terms to your needs and goals
  • Loan terms range from 5 – 20 years
  • Student Loan Advisor to guide you through the application process
  • Consolidate federal or private loans
  • No origination, prepayment, or other hidden fees