Refinancing your student loans with a cosigner could improve your approval chances as well as possibly get you a lower interest rate than you’d get on your own.
However, you don’t have to refinance with a cosigner if you meet the lender’s underwriting criteria on your own.
Best lenders for refinancing without a cosigner
If you’re thinking about refinancing your student loans without a cosigner, it’s important to compare as many lenders as possible first. This way, you can find the right loan for your situation.
Keep in mind: You’ll generally need good to excellent credit to get approved for refinancing — especially if you don’t have a cosigner. A good credit score is usually considered to be 700 or higher.
There are also some lenders that offer student loan refinancing for bad credit. But these loans typically come with higher interest rates compared to good credit loans.
Here are Credible’s partner lenders that don’t require a cosigner for refinancing:
Advertiser Disclosure$10,000 up to total refinance amount
Overview
ELFI offers student loan refinancing to borrowers who graduated with a bachelor's degree or higher. Borrowers can even refinance their parents' PLUS loans in their own name. Plus, each ELFI borrower gets paired with a student loan adviser to help them through the refinancing process.
While borrowers can add a cosigner to their application, they can't release that cosigner later on. ELFI also doesn't offer rate discounts, but borrowers can apply for a forbearance of up to 12 months if they're experiencing financial hardship.
pros
- Doesn’t charge application or origination fees
- Borrowers are assigned to a student loan adviser
- Student borrowers can refinance parent PLUS loans in their name
- Clear credit and income requirements
- Offers financial hardship forbearance of up to 12 months
cons
- Doesn’t offer any discounts
- Need at least a bachelor’s degree to refinance
- Doesn’t offer cosigner release
- Charges fees for late and returned payments
Loan terms
5, 7, 10, 15, or 20 years for student loan refinancing; 5, 7, or 10 years for parent loan refinancing
Loan amounts
Minimum of $10,000 with no set maximum.
Eligibility
Must be a U.S. citizen or permanent resident with a bachelor’s degree or higher. Must have at least $10,000 in student loans to refinance and a minimum credit history of 36 months.
Overview
INvestEd is a nonprofit based in Indiana that offers student loan refinancing to borrowers nationwide. It offers competitive rates and a discount for setting up autopay. INvestEd also allows cosigners to be released after 12 on-time payments, which is sooner than some other student loan refinancing lenders.
However, the most you can refinance through INvestEd is $250,000, less than what other lenders may allow. It also has strict credit and income requirements to qualify, or you'll need an eligible cosigner. INvestEd clearly defines its credit requirements before you apply, but you can't prequalify with a soft credit check.
pros
- Refinancing available even for non-degree holders
- Offers a one-quarter percentage point rate discount for autopay
- Deferment available while in school, military service or under financial hardship
- Will release cosigners after as few as 12 payments
cons
- Relatively low maximum refinance amount compared with some competitors
- Doesn’t offer prequalification to see rates before you apply
- No refinancing available for international students
- Parent loans cannot be refinanced in student’s name
Eligibility
U.S. citizens or permanent residents are eligible. Borrowers must meet minimum requirements including a FICO score of 670 or higher, annual income of $36,000, a debt-to-income ratio below 40% to 50%, a year of continuous employment, and no defaults or serious collection activities in recent years.
Overview
Iowa Student Loan Liquidity Corporation (ISL) is a nonprofit organization that can refinance student debt for undergraduates and their parents, graduate students, and medical and dental professionals. No degree is required to refinance, and even students who are still in school may qualify — a rarity in the marketplace.
The maximum amount you can refinance depends on the type of debt, though limits are generally high. ISL is also one of the few private lenders to offer a graduated repayment plan, where payments start small but gradually increase with time.
pros
- No degree required
- Certain borrowers can qualify for graduated repayment
- No origination, prepayment, or late fees
- Transparent credit and income requirements
- Autopay discount of 0.25 percentage points
cons
- No variable rates offered
- Caps on maximum loan amounts
- Maine residents not currently eligible
- Minimum loan amount of $10,000 for California residents
Loan terms
5, 7, 10, 15, or 20 years
Loan amounts
$5,000 minimum ($10,000 for California residents); maximum of $200,000 for in-school applicants, $300,000 for undergraduate and parent loans, and up to $400,000 for medical and dental professionals
Eligibility
Must be a U.S. citizen or permanent resident (Maine residents are not eligible); cannot have defaulted on any private or federal student loan; and meet additional requirements depending on the type of refinance loan.
$10,000 up to the total amount
Overview
Massachusetts Educational Financing Authority (MEFA) is a student refinancing lender offering a wide range of options, including to borrowers who didn't finish school. Though the lender doesn't offer variable-rate options, its fixed-rate loans have competitive rates.
MEFA's mission is to provide affordable student loans, and it doesn't charge any fees. You must have at least $10,000 in student loans to refinance, and you must have made a minimum of six consecutive on-time payments over the last six months. Borrowers who are unable to qualify on their own can add a cosigner to their application.
pros
- You can refinance without having graduated
- Doesn’t charge fee
- Can prequalify to check your rate
cons
- Can’t release a cosigner
- Doesn’t have any discounts
- Can’t refinance parent student loans
- Doesn’t offer variable-rate loans
Loan amounts
$10,000 up to your total debt
Eligibility
Must be a U.S. citizen or permanent resident who is the primary borrower on education debt used to attend an eligible college or university. Must have made six on-time loan payments over the most recent six months. Must have no history of default or delinquency on education debt for the past 12 months and no history of bankruptcy or foreclosure in the past five years.
Overview
The Rhode Island Student Loan Authority (RISLA) is a nonprofit lender offering student loan refinancing to borrowers across the U.S. You can refinance even if you didn't complete your degree, as long as you have at least $7,500 in student loan debt.
What makes RISLA unique is the flexibility it offers borrowers. If you're facing financial difficulties, RISLA provides income-based repayment options to help manage your payments. For added relief, you can access up to 24 months of forbearance, which is more than many lenders offer. If you return to graduate school, you can defer your payments for up to three years, giving you time to focus on your studies without worrying about loan payments.
pros
- Offers income-based repayment
- Generous payment relief options
- You can refinance without a degree
- Get a rate discount when you enroll in autopay
cons
- High minimum income requirement
- No cosigner release option
- Fewer repayment terms to choose from
- Does not offer variable rates
Loan amounts
$7,500 minimum up to of $250,000, depending on degree
Eligibility
Borrower or cosigner must meet credit requirements. Student must be a U.S. citizen or permanent resident and have used original student loans to attend an eligible degree-granting institution.
Loan Amounts
$10,000 up to total refinance amount
Overview
ELFI offers student loan refinancing to borrowers who graduated with a bachelor's degree or higher. Borrowers can even refinance their parents' PLUS loans in their own name. Plus, each ELFI borrower gets paired with a student loan adviser to help them through the refinancing process.
While borrowers can add a cosigner to their application, they can't release that cosigner later on. ELFI also doesn't offer rate discounts, but borrowers can apply for a forbearance of up to 12 months if they're experiencing financial hardship.
pros
- Doesn’t charge application or origination fees
- Borrowers are assigned to a student loan adviser
- Student borrowers can refinance parent PLUS loans in their name
- Clear credit and income requirements
- Offers financial hardship forbearance of up to 12 months
cons
- Doesn’t offer any discounts
- Need at least a bachelor’s degree to refinance
- Doesn’t offer cosigner release
- Charges fees for late and returned payments
Loan terms
5, 7, 10, 15, or 20 years for student loan refinancing; 5, 7, or 10 years for parent loan refinancing
Loan amounts
Minimum of $10,000 with no set maximum.
Eligibility
Must be a U.S. citizen or permanent resident with a bachelor’s degree or higher. Must have at least $10,000 in student loans to refinance and a minimum credit history of 36 months.
Overview
INvestEd is a nonprofit based in Indiana that offers student loan refinancing to borrowers nationwide. It offers competitive rates and a discount for setting up autopay. INvestEd also allows cosigners to be released after 12 on-time payments, which is sooner than some other student loan refinancing lenders.
However, the most you can refinance through INvestEd is $250,000, less than what other lenders may allow. It also has strict credit and income requirements to qualify, or you'll need an eligible cosigner. INvestEd clearly defines its credit requirements before you apply, but you can't prequalify with a soft credit check.
pros
- Refinancing available even for non-degree holders
- Offers a one-quarter percentage point rate discount for autopay
- Deferment available while in school, military service or under financial hardship
- Will release cosigners after as few as 12 payments
cons
- Relatively low maximum refinance amount compared with some competitors
- Doesn’t offer prequalification to see rates before you apply
- No refinancing available for international students
- Parent loans cannot be refinanced in student’s name
Eligibility
U.S. citizens or permanent residents are eligible. Borrowers must meet minimum requirements including a FICO score of 670 or higher, annual income of $36,000, a debt-to-income ratio below 40% to 50%, a year of continuous employment, and no defaults or serious collection activities in recent years.
Overview
Iowa Student Loan Liquidity Corporation (ISL) is a nonprofit organization that can refinance student debt for undergraduates and their parents, graduate students, and medical and dental professionals. No degree is required to refinance, and even students who are still in school may qualify — a rarity in the marketplace.
The maximum amount you can refinance depends on the type of debt, though limits are generally high. ISL is also one of the few private lenders to offer a graduated repayment plan, where payments start small but gradually increase with time.
pros
- No degree required
- Certain borrowers can qualify for graduated repayment
- No origination, prepayment, or late fees
- Transparent credit and income requirements
- Autopay discount of 0.25 percentage points
cons
- No variable rates offered
- Caps on maximum loan amounts
- Maine residents not currently eligible
- Minimum loan amount of $10,000 for California residents
Loan terms
5, 7, 10, 15, or 20 years
Loan amounts
$5,000 minimum ($10,000 for California residents); maximum of $200,000 for in-school applicants, $300,000 for undergraduate and parent loans, and up to $400,000 for medical and dental professionals
Eligibility
Must be a U.S. citizen or permanent resident (Maine residents are not eligible); cannot have defaulted on any private or federal student loan; and meet additional requirements depending on the type of refinance loan.
Loan Amounts
$10,000 up to the total amount
Overview
Massachusetts Educational Financing Authority (MEFA) is a student refinancing lender offering a wide range of options, including to borrowers who didn't finish school. Though the lender doesn't offer variable-rate options, its fixed-rate loans have competitive rates.
MEFA's mission is to provide affordable student loans, and it doesn't charge any fees. You must have at least $10,000 in student loans to refinance, and you must have made a minimum of six consecutive on-time payments over the last six months. Borrowers who are unable to qualify on their own can add a cosigner to their application.
pros
- You can refinance without having graduated
- Doesn’t charge fee
- Can prequalify to check your rate
cons
- Can’t release a cosigner
- Doesn’t have any discounts
- Can’t refinance parent student loans
- Doesn’t offer variable-rate loans
Loan amounts
$10,000 up to your total debt
Eligibility
Must be a U.S. citizen or permanent resident who is the primary borrower on education debt used to attend an eligible college or university. Must have made six on-time loan payments over the most recent six months. Must have no history of default or delinquency on education debt for the past 12 months and no history of bankruptcy or foreclosure in the past five years.
Overview
The Rhode Island Student Loan Authority (RISLA) is a nonprofit lender offering student loan refinancing to borrowers across the U.S. You can refinance even if you didn't complete your degree, as long as you have at least $7,500 in student loan debt.
What makes RISLA unique is the flexibility it offers borrowers. If you're facing financial difficulties, RISLA provides income-based repayment options to help manage your payments. For added relief, you can access up to 24 months of forbearance, which is more than many lenders offer. If you return to graduate school, you can defer your payments for up to three years, giving you time to focus on your studies without worrying about loan payments.
pros
- Offers income-based repayment
- Generous payment relief options
- You can refinance without a degree
- Get a rate discount when you enroll in autopay
cons
- High minimum income requirement
- No cosigner release option
- Fewer repayment terms to choose from
- Does not offer variable rates
Loan amounts
$7,500 minimum up to of $250,000, depending on degree
Eligibility
Borrower or cosigner must meet credit requirements. Student must be a U.S. citizen or permanent resident and have used original student loans to attend an eligible degree-granting institution.
Brazos
Best for: Borrowers who live in Texas
If you’re a Texas resident, Brazos could be a good option for refinancing. With Brazos, you can refinance $10,000 to $400,000 (depending on your degree) with terms from five to 20 years.
Loan Amount
$10,000 - $400,000
Five loan terms available
Competitive rates
Cosigner release
No origination or application fees
Autopay discount of 0.25 percentage points
Only available to Texas residents
High minimum credit and income requirements
Bachelor’s degree required
Overview
Brazos offers refinancing loans to Texas residents who have a bachelor’s degree or higher from an eligible school. There are no origination or application fees, and interest rates could be lower than what you find with other private lenders.
However, some borrowers may find that Brazos has relatively strict eligibility requirements. Borrowers must have a minimum income of $60,000 and a credit score of 720 or higher. If you can’t meet those minimums alone, you can add a cosigner that can be released after 24 on-time consecutive payments.
Loan terms
5, 7, 10, 15, or 20 years
Loan amounts
$10,000 minimum, up to $150,000 for bachelor’s degrees and $400,000 for graduate, medical, law, or other professional degrees
Cosigner release
Yes, after 24 on-time payments
Eligibility
Borrower must be a Texas resident and a U.S. citizen or permanent resident who has a bachelor’s degree or higher.
Pros
- 0.25% autopay discount
- Variety of repayment terms offered
- Forbearance options available for economic hardship, active-duty military service, or natural disaster
Cons
- Only available in Texas
- Could be hard to qualify if you don’t have good credit
- $60,000 minimum income requirement without a cosigner
Citizens
Best for: Borrowers who already have an account with Citizens
With Citizens, you can refinance loan amounts from $10,000 to $750,000 (depending on your degree and loan type) with terms from five to 20 years.
Additionally, if you already have an account with Citizens, you could get a 0.25% rate discount — plus another 0.25% off your rate if you sign up for autopay.
Min. Credit Score
Does not disclose
Loan Amount
$10,000 - $750,000
Range of repayment options between 5 and 20 years
Offers prequalification with no impact on credit score
Offers rate discounts for existing customers and autopay
Cosigners not eligible for release until after 36 payments are made
Refinancing unavailable until you make 12 payments on your loans if you earned an associate degree or no degree at all
Minimum loan amounts are higher than some other lenders
Overview
Citizens student loan refinancing is available to qualified borrowers who want to refinance at least $10,000.
Borrowers who earned undergraduate degrees can refinance as much as $300,000 in student loans. Those who borrowed for graduate or professional degrees can refinance from $500,000 to $750,000. Citizens refinancing loans are available with fixed or variable rates. Repayment terms are flexible, ranging from five to 20 years.
Medical residents can refinance student loans and only pay $100 per month for up to four years while completing residency or fellowship.
Loan terms
5, 7, 10, 15, or 20 years
Loan amounts
$10,000 minimum, with a maximum of $300,000 for bachelor’s degree or below; $500,000 for graduate degrees; and $750,000 for professional degrees
Eligibility
Must refinance at least $10,000 in student loans and be a U.S. citizen, permanent resident, or resident alien with a valid U.S. Social Security number. Must have earned at least a bachelor's degree to qualify.
Pros
- 0.25% autopay discount
- 0.25% loyalty discount
- Degree not required
Cons
- Doesn’t disclose minimum credit score or income requirements
- Long cosigner release period (36 months)
EdvestinU
Best for: Borrowers who didn’t graduate
EdvestinU offers refinancing on loan amounts from $7,500 to $200,000 with terms from five to 20 years. Unlike many lenders, EdvestinU doesn’t require borrowers to have graduated to be eligible.
Loan Amount
$7,500 - $200,000
You can refinance without a degree or while enrolled in school
Autopay rate discount available
New Hampshire residents save 1.5 percentage points on their interest rate
Refinancing is only available in select states
High minimum credit score requirement
Requires a higher minimum loan balance than some lenders
Cosigner release requires 2 years of on-time payments
Overview
EdvestinU offers student loan refinancing through Granite Edvance Corporation, a New Hampshire-based nonprofit. The lender stands out with competitive interest rates and flexible repayment terms for borrowers with strong credit. To qualify, you'll need a credit score of at least 700 and an annual income of $30,000 for loans less than $100,000 or $50,000 for larger amounts. However, loans aren't available in all U.S. states.
Unlike many lenders, EdvestinU lets you refinance without a degree or while still enrolled in school. New Hampshire residents also receive a 1.5 percentage point interest rate reduction, making it an excellent option for those in the state.
Eligibility
U.S. citizens or permanent residents who are at least 18 years old and reside in Alaska, Arkansas, Colorado, Connecticut, Florida, Maine, Massachusetts, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Puerto Rico, Rhode Island, Texas, Utah, Virginia, Washington, West Virginia, and Wisconsin.
Pros
- 0.25% autopay discount
- Degree not required
- No application, origination, or disbursement fees
Cons
- Could be hard to qualify if you don’t have good credit
- $30,000 to $50,000 minimum income requirement (depending on loan amount)
ELFI
Best for: Borrowers with high loan balances
Education Loan Finance (ELFI) doesn’t have a maximum loan amount — you just need at least $10,000 in student loans to refinance. You can choose between repayment terms from five to 20 years — though keep in mind that 15- and 20-year terms aren’t available for parent borrowers.
Loan Amount
$10,000 up to total refinance amount
Doesn’t charge application or origination fees
Borrowers are assigned to a student loan adviser
Student borrowers can refinance parent PLUS loans in their name
Clear credit and income requirements
Offers financial hardship forbearance of up to 12 months
Doesn’t offer any discounts
Need at least a bachelor’s degree to refinance
Doesn’t offer cosigner release
Charges fees for late and returned payments
Overview
ELFI offers student loan refinancing to borrowers who graduated with a bachelor's degree or higher. Borrowers can even refinance their parents' PLUS loans in their own name. Plus, each ELFI borrower gets paired with a student loan adviser to help them through the refinancing process.
While borrowers can add a cosigner to their application, they can't release that cosigner later on. ELFI also doesn't offer rate discounts, but borrowers can apply for a forbearance of up to 12 months if they're experiencing financial hardship.
Loan terms
5, 7, 10, 15, or 20 years for student loan refinancing; 5, 7, or 10 years for parent loan refinancing
Loan amounts
Minimum of $10,000 with no set maximum.
Eligibility
Must be a U.S. citizen or permanent resident with a bachelor’s degree or higher. Must have at least $10,000 in student loans to refinance and a minimum credit history of 36 months.
Pros
- No maximum loan amount
- Variable rates capped at 9.95% APR
- Up to 12 months of forbearance available to borrowers facing financial hardship
Cons
- Must have at least $10,000 to refinance
- $35,000 minimum income requirement
INvestEd
Best for: Borrowers who might need access to forbearance
With INvestEd, you can refinance $5,000 to $250,000 with terms from five to 20 years. Additionally, borrowers can access up to 24 months of forbearance over the life of the loan, which could be helpful if you experience financial hardship or unexpected circumstances.
Loan Amount
$5,000 - $250,000
Refinancing available even for non-degree holders
Offers a one-quarter percentage point rate discount for autopay
Deferment available while in school, military service or under financial hardship
Will release cosigners after as few as 12 payments
Relatively low maximum refinance amount compared with some competitors
Doesn’t offer prequalification to see rates before you apply
No refinancing available for international students
Parent loans cannot be refinanced in student’s name
Overview
INvestEd is a nonprofit based in Indiana that offers student loan refinancing to borrowers nationwide. It offers competitive rates and a discount for setting up autopay. INvestEd also allows cosigners to be released after 12 on-time payments, which is sooner than some other student loan refinancing lenders.
However, the most you can refinance through INvestEd is $250,000, less than what other lenders may allow. It also has strict credit and income requirements to qualify, or you'll need an eligible cosigner. INvestEd clearly defines its credit requirements before you apply, but you can't prequalify with a soft credit check.
Eligibility
U.S. citizens or permanent residents are eligible. Borrowers must meet minimum requirements including a FICO score of 670 or higher, annual income of $36,000, a debt-to-income ratio below 40% to 50%, a year of continuous employment, and no defaults or serious collection activities in recent years.
Pros
- 0.25% autopay discount
- Up to 24 months of forbearance available over the life of the loan
- Degree not required
Cons
- Charges late and returned payment fees
- $36,000 minimum income requirement
MEFA
Best for: Borrowers who attended a public or nonprofit university
With the Massachusetts Educational Financing Authority (MEFA), you can refinance $10,000 up to the total amount of your qualified education debt. Repayment terms range from seven to 15 years.
Keep in mind that you must have attended a public or nonprofit university to refinance with MEFA — for-profit schools aren’t eligible.
Loan Amount
$10,000 up to the total amount
You can refinance without having graduated
Doesn’t charge fee
Can prequalify to check your rate
Can’t release a cosigner
Doesn’t have any discounts
Can’t refinance parent student loans
Doesn’t offer variable-rate loans
Overview
Massachusetts Educational Financing Authority (MEFA) is a student refinancing lender offering a wide range of options, including to borrowers who didn't finish school. Though the lender doesn't offer variable-rate options, its fixed-rate loans have competitive rates.
MEFA's mission is to provide affordable student loans, and it doesn't charge any fees. You must have at least $10,000 in student loans to refinance, and you must have made a minimum of six consecutive on-time payments over the last six months. Borrowers who are unable to qualify on their own can add a cosigner to their application.
Loan amounts
$10,000 up to your total debt
Eligibility
Must be a U.S. citizen or permanent resident who is the primary borrower on education debt used to attend an eligible college or university. Must have made six on-time loan payments over the most recent six months. Must have no history of default or delinquency on education debt for the past 12 months and no history of bankruptcy or foreclosure in the past five years.
Pros
- Might be able to refinance up to the total amount of your qualified education debt
- Degree not required
- No fees
Cons
- Not available for borrowers who attended for-profit universities
- No discounts offered
- Limited repayment terms (7, 10, or 15 years)
RISLA
Best for: Borrowers looking for income-based repayment options
Most private student loans don’t offer the repayment options that federal student loans do. However, the Rhode Island Student Loan Authority (RISLA) offers an income-based repayment (IBR) plan to borrowers facing financial hardship. If you qualify, your payments will be capped at a percentage of your discretionary income, based on your family size and location.
With RISLA, you can refinance loan amounts from $7,500 to $250,000 (depending on the highest degree you’ve earned) with terms from five to 15 years.
Loan Amount
$7,500 - $250,000
Offers income-based repayment
Generous payment relief options
You can refinance without a degree
Get a rate discount when you enroll in autopay
High minimum income requirement
No cosigner release option
Fewer repayment terms to choose from
Does not offer variable rates
Overview
The Rhode Island Student Loan Authority (RISLA) is a nonprofit lender offering student loan refinancing to borrowers across the U.S. You can refinance even if you didn't complete your degree, as long as you have at least $7,500 in student loan debt.
What makes RISLA unique is the flexibility it offers borrowers. If you're facing financial difficulties, RISLA provides income-based repayment options to help manage your payments. For added relief, you can access up to 24 months of forbearance, which is more than many lenders offer. If you return to graduate school, you can defer your payments for up to three years, giving you time to focus on your studies without worrying about loan payments.
Loan amounts
$7,500 minimum up to of $250,000, depending on degree
Eligibility
Borrower or cosigner must meet credit requirements. Student must be a U.S. citizen or permanent resident and have used original student loans to attend an eligible degree-granting institution.
Pros
- Offers an income-based repayment plan to borrowers facing financial hardship
- Can defer payments for up to 36 months if you return to graduate school
- Degree not required
Cons
- Variable rates not offered
- $40,000 minimum income requirement
Check Out: How to Get Student Loan Repayment Help
College Ave
Best for: Variety of repayment terms
College Ave offers refinancing on loan amounts from $5,000 to $300,000 (depending on degree type). Additionally, borrowers can choose between 16 repayment terms ranging from five to 20 years, making it easier to fit your payments into your budget.
Pros
- 0.25% autopay discount
- Variety of repayment terms available
- Cosigner release offered after 24 months of consecutive, on-time payments
Cons
- Doesn’t disclose minimum credit score or income requirements
- Undergraduate or graduate degree required
- Parents can’t transfer Parent PLUS Loans to student
Methodology
To find the “best companies,” Credible looked at loan and lender data points from 12 categories to give you a well-rounded perspective on each of our partner refinancing lenders.
Here’s what we considered:
- Interest rates
- Repayment terms
- Repayment options
- Fees
- Discounts
- Customer service availability
- Maximum loan balances
- Willingness to refinance parent loans
- Eligibility criteria
- Cosigner release options
- Whether the minimum credit score is available publicly
Meet the expert:
Emily Guy Birken
Emily Guy Birken is an authority on student loans and personal finance. Her work has been featured by Forbes, USA Today, Fox Business, MSN Money, and MarketWatch.
