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Attending law school can be pricey, with the average law school debt coming in at $134,600. This amount of debt can feel overwhelming, but there are a few strategies that could make it easier to handle.
One of these options is refinancing your law school loans, which could help you save money and potentially pay off your loans faster. If you’re thinking about refinancing your law school loans, it’s important to consider as many lenders as you can to find the right loan for you.
As such, it might be a good idea to wait to refinance federal student loans while focusing on private student loans for now.
Here are Credible’s partner lenders that offer law school loan refinancing:
| Lender | Fixed rates from (APR) | Variable rates from (APR) | Loan terms (years) | Loan amounts |
|---|---|---|---|---|
Credible Rating  Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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4.54%+ | N/A | 10, 15, 20 | $7,500 up to up to $200,000 (larger balances require special approval) |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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2.15%+ | 1.87%+ | 5, 7, 10, 15, 20 | $10,000 up to $250,000 (depending on degree) |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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2.39%+| 1.87%+1 |
5, 7, 10, 15, 20 |
$10,000 to $500,000 |
(depending on degree and loan type) |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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2.99%+2 | 2.94%+2 | 5, 7, 10, 12, 15, 20 | $5,000 to $300,000 (depending on degree type) |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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2.16%+ | 2.11%+ | 5, 7, 10, 15, 20 | $5,000 to $500,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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3.91%+5 | 1.81%+5 | 5, 10, 15, 20 | $1,000 to $250,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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2.58%+3 | 2.39%+ |
5, 7, 10, 12, 15, 20 | Minimum of $15,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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3.47%+4 | 2.42%+ | 5, 10, 15, 20 | $5,000 – $250,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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2.74%+7 | N/A | 5, 7, 10, 12, 15, 20 | Up to $300,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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3.05%+ | 3.05%+ | 7, 10, 15 | $10,000 up to the total amount of qualified education debt |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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2.89%+ | N/A | 5, 8, 12, 15 | $7,500 to $300,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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3.29%+ | N/A | 5, 10, 15 | $7,500 up to $250,000 (depending on highest degree earned) |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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2.74%+6 | 2.25%6 | 5, 7, 10, 15, 20 | $5,000 up to the full balance of your qualified education loans |
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| Compare personalized rates from multiple lenders without affecting your credit score. 100% free! |
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All APRs reflect autopay and loyalty discounts where available | 1Citizens Disclosures | 2College Ave Disclosures | 5EDvestinU Disclosures | 3 ELFI Disclosures | 4INvestEd Disclosures | 7ISL Education Lending Disclosures | 6SoFi Disclosures |
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Learn more about Credible’s partner lenders
Advantage
With Advantage, you can refinance loan balances from $7,500 to $500,000 — though keep in mind that larger balances require special approval.
Advantage also offers a graduated repayment plan, which lets you pay smaller amounts just after graduation before working up to bigger payments in the future. This could be helpful for law graduates who start with smaller incomes before earning more later in their careers.
3.0
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- Can refinance Parent PLUS Loans you benefited from into your name
- 0.25% autopay discount
- Graduated repayment plan available
Cons
- No variable rate options
- Long cosigner release period (36 months)
- Borrowers with poor or fair credit might not qualify
Brazos
Brazos might be a good choice for refinancing your law school loans if you’re a Texas resident with a strong income. You can refinance $10,000 to $250,000 (up to $400,000 if you completed your law degree).
4.4
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- Variety of repayment terms available
- 0.25% autopay discount
- Competitive rates
Cons
- Cosigner release not offered
- Must have a minimum income of $60,000 ($30,000 with a cosigner), which could be high for recent graduates
- Not available outside of Texas
Citizens
Unlike many other lenders, Citizens doesn’t require borrowers to have graduated before refinancing, which could make it a good choice if you didn’t finish your law degree.
Plus, if you already have an account with Citizens, you could get 0.25% off your rate — and you could get another 0.25% off if you sign up for automatic payments.
4.7
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- 0.25% autopay discount
- 0.25% loyalty discount
- Degree not required
Cons
- Some discounts only available for previous customers
- Doesn’t disclose minimum credit score and income requirements
- Long cosigner release period (36 months)
Keep Reading: 4 Banks for Student Loan Refinancing
College Ave
If you’re looking for flexibility, College Ave could be a good option — it offers a choice of up to 16 repayment options ranging from five and 20 years, making it easy to find a payment that’s within your budget.
With College Ave, you can refinance law school loan amounts from $5,000 to $150,000.
4.4
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- Variety of repayment terms available
- 0.25% autopay discount
- Cosigner release available (after 24 months)
Cons
- Can only refinance up to $150,000, which might not be enough to cover your entire law school debt
- Doesn’t disclose minimum credit score or income requirements
- No physical locations available
Commonbond
With Commonbond, borrowers can refinance $5,000 to $500,000 with repayment terms ranging from five to 20 years.
CommonBond also offers a unique hybrid loan option, which starts with a fixed rate for the first half of the loan then switches to a variable rate. This could be helpful if you plan to pay off your law school loan early and want to save on potential interest charges.
4.5
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- Up to 24 months of forbearance over the life of the loan
- Can transfer Parent PLUS Loans to student
Cons
- Not available in Mississippi or Nevada
- Charges late and returned check fees
EDvestinU
While EDvestinU won’t refinance as much debt as some of its competitors, it does offer a wide range of loan terms and a choice of a fixed or variable interest rate. If you fall into economic hardship, EDvestinU also offers deferment options.
3.8
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- Variable and fixed rates available
- Offers refinancing to borrowers who haven’t completed their degrees
- No application, origination, or prepayment fees
Cons
- Long cosigner release period (36 months)
- Borrowers with poor or fair credit might not qualify
ELFI
While Education Loan Finance (ELFI) requires a minimum loan amount of $15,00, it has no maximum limit on the amount of student loan debt you can refinance. This could make it a good option if you’re dealing with a particularly high law school loan balance.
4.4
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- No maximum limit on loan amounts
- Variable rates capped at 9.95% APR
- Up to 12 months of forbearance available for borrowers experiencing financial hardship
Cons
- No discounts available
- Borrowers with poor or fair credit might not qualify
- Cosigner release not offered
INvestEd
With INvestEd, you can refinance $5,000 to $250,000 and can choose a term from five to 20 years. You don’t need to have graduated to qualify, which could make it a good choice if you didn’t complete your law degree.
3.9
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- Degree not required
- 0.25% autopay discount
- Up to 24 months of forbearance available during the life of the loan (1 to 3 months duration per forbearance)
Cons
- Borrowers with poor or fair credit might not qualify
- Long cosigner release period (48 months)
- Can’t transfer Parent PLUS Loans into child’s name
ISL Education Lending
ISL Education Lending offers a variety of refinancing options — which includes being able to refinance while you’re still in school.
In addition to a standard repayment plan, ISL Education Lending provides a graduated repayment plan to borrowers who choose a 10-, 15-, or 20-year term (plus seven-year terms in some cases). This type of plan starts with low payments that gradually increase over time.
4.2
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- 0.25% autopay discount
- Can refinance while still in school
- Graduated repayment plan available
Cons
- Rates can be higher than competing lenders
- Cosigner release period longer than some lenders (24 months)
MEFA
MEFA student loan refinancing is available to law school students who attended public or nonprofit universities.
You can refinance $10,000 up your total amount of qualified education debt — this could make MEFA a good option if you have a high law school balance to manage.
4.0
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- Degree not required
- No maximum limit on loan amounts
- Competitive rates
Cons
- No discounts available
- Cosigner release not offered
- Only three repayment terms to choose from (7, 10, and 15 years)
PenFed
PenFed is the only lender that allows spouses to consolidate their student loan debt together. This could make PenFed a good choice if you want to combine debt with your spouse.
You can refinance $7,500 to $300,000 and can choose from a term from five to 15 years.
4.5
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- Variable interest rates capped
- Can refinance loans with a spouse
- Cosigner release available after just 12 months
Cons
- Must have a minimum income of $42,000 to $50,000 (depending on the loan amount), which could be high for recent graduates
- No discounts available
- 20-year term not available
RISLA
Unlike most other lenders, RISLA offers an income-based repayment (IBR) program, which could be helpful if you lose your job, have your pay cut, or face other financial hardships.
Plus, after making 25 years of on-time payments under this IBR plan, RISLA will forgive any remaining loan balance you have left.
3.7
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- Income-based repayment plan available
- 0.25% autopay discount
- Can defer payments for up to 36 months if you go back to graduate school
Cons
- Borrowers with poor or fair credit might not qualify
- Must have a minimum income of $40,000, which could be high for recent graduates
- Cosigner release not offered
SoFi
With SoFi, you can refinance $5,000 up to the total balance of your qualified education loans, which could make it a good option if you left school with a large amount of debt.
SoFi borrowers also enjoy several perks, including unemployment protection and career coaching.
4.5
Credible rating
Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
Pros
- Geared toward borrowers with advanced degrees (such as law)
- 0.25% autopay discount
- Borrower perks, including unemployment protection, career coaching, investing advice, and member events
Cons
- Borrowers who don’t have very good to excellent credit might not qualify
- Cosigner release not offered
- Doesn’t disclose minimum credit score requirements
Learn More: How to Refinance Your Student Loans
Other student loan refinancing lenders
Several other lenders also offer student loan refinancing. However, because the lenders in the table below aren’t Credible partners, you can’t use Credible to compare your prequalified rates from any of these lenders.
 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Undergrad: $249,000 Grad: $199,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Undergrad: $500,000 Grad: $500,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Undergrad: $249,000 Grad: $249,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Undergrad: None Grad: None |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Does not disclose | |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Undergrad: $99,000 Grad: $150,000 |
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 Credible Rating Credible lender ratings are evaluated by our editorial team with the help of our loan operations team. The rating criteria for lenders encompass 78 data points spanning interest rates, loan terms, eligibility requirement transparency, repayment options, fees, discounts, customer service, cosigner options, and more. Read our full methodology.
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Undergrad: None Grad: None |
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Compare Now |
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Check Out: You Can Refinance Sallie Mae Student Loans — Here’s How
How much you could save by refinancing law school loans
How much you could save through refinancing mainly depends on whether you can get approved for a better rate or term than you currently have.
To qualify for a lower rate, you’ll generally need to have good credit and meet any other requirements set by the lender.
You can use our calculator below to see how much you can save by refinancing your student loans.
Step 1. Enter your loan balance
Step 2. Enter current loan information
Step 3. Enter your new loan information to start calculating your savings
Lifetime Savings
Increased Lifetime Cost
$
New Monthly Payment
$
Monthly Savings
Increased Monthly Cost
$
If you refinance your student loan at
%
interest rate, you
can save
will pay an additional
$
monthly and pay off your loan by
.
The total cost of the new loan will be
$.
Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.
Check Personalized Rates
Checking rates won’t affect your credit score.
Learn More: Student Loan Consolidation vs. Student Loan Refinancing
When you should — and shouldn’t — refinance law school loans
While refinancing could be helpful in some cases, it isn’t right for everyone. Here are a few scenarios where refinancing could be a good move:
- You can get a better interest rate. Depending on your credit, you might be able to qualify for a lower interest rate than what you’re currently paying. This could save you a significant amount of money over the life of your loan — and might even help you pay off your loans faster.
- You need a lower monthly payment. If you’re struggling to afford your monthly private student loan payments, refinancing could be a smart move. You can opt for a longer repayment term to lower your student loan payment, which could lessen the strain on your budget. However, keep in mind that choosing a longer term means you’ll pay more in interest over time.
- You want to change the type of interest rate you have. Through refinancing, you can switch from a fixed rate to a variable rate or vice versa. If you choose a fixed rate, your monthly payment won’t ever change. On the other hand, variable rates can be lower than fixed rates — however, they can fluctuate over time.
And here are some situations where you might not want to refinance:
- Average interest rates are higher than your current rates. If interest rates have risen since you took out your student loans, you likely won’t be able to get a lower rate than you already have. In this case, it’s probably a better idea to wait until rates go down.
- Your income isn’t stable. Many student loan refinancing lenders require borrowers to have a minimum income. If you either haven’t yet locked down a job or have an income that could drop in the future, then refinancing might not be possible yet.
- You have federal student loans. Federal student loans come with valuable protections that you’d lose if you refinance them into a private student loan. These include access to income-driven repayment plans and student loan forgiveness programs. If you’ll need these benefits in the future, refinancing might not be a wise choice.
Tip: If you decide to refinance, it’s usually a good idea to choose the shortest term you can afford. This way, you’ll save money on interest and can pay off your loans more quickly.
You can estimate how long it will take to pay off your student loan debt using the calculator below. Use the slider to see how increasing your payments can change the payoff date.
Enter loan information
Total Payment
$
Total Interest
$
Monthly Payment
$
If you increase your payments by
$
monthly on your
$
loan at
%,
you will pay
$
a month and pay off your loan by
Jan 2021.
Does refinancing make sense for you?
Compare offers from top refinancing lenders to determine your actual savings.
Check Personalized Rates
Checking rates won’t affect your credit score.
Check Out: When to Refinance Student Loans
How to get the best interest rate when refinancing law school loans
Here are a few tips that could help you get a good interest rate when you refinance your law school loans:
- Build your credit. When you apply for refinancing, the lender will review your credit to determine not only your creditworthiness but also your interest rate. Generally, borrowers with good credit get lower rates than those with bad credit. While you might be able to refinance student loans with bad credit, it could be a good idea to spend some time improving your credit before you apply so you can qualify for better rates in the future.
- Consider a cosigner. If you’re struggling to get approved for refinancing, applying with a cosigner might improve your chances. Even if you don’t need a cosigner to qualify, having one could get you a lower rate than you’d get on your own. However, keep in mind that your cosigner will be responsible for the loan if you can’t make your payments.
- Shop around and compare lenders. Rates and terms can vary widely from one student loan refinancing company to the next, so be sure to compare as many lenders as possible to find the right for you.
Learn More: Law School Loan Forgiveness and Repayment Programs
Is refinancing a good idea?
Whether refinancing is a good idea ultimately depends on your individual circumstances and financial goals. If you can save a significant amount of money and pay off your loans faster through refinancing, then it could be a wise decision.
However, if you refinanced to a new 15-year loan with a 7% rate — just 1% lower — you’d save $13,767 in interest over the life of your loan.
Will refinancing hurt your credit score?
Because your loan balance won’t change through refinancing, it shouldn’t hurt your credit score. There might be a slight negative impact when you initially apply and the lender performs a hard credit check — however, this is usually only temporary, and your score will likely bounce back within a few months.
There’s also no limit on how often you can refinance. If rates drop in the future, you could consider refinancing again to potentially lower your costs even more.
Or if you’re still attending your law program, you might choose to consolidate the student loans you have from your undergraduate degree to lower your costs while you’re still in school.
Check Out: Federal Student Loan Repayment Options
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