Student Loan Refinancing

Refinancing Matters More in 2026. Here’s Why.

The student loan landscape has changed.

With the One Big Beautiful Bill Act (OBBBA) now in effect, federal borrowing is more restricted and repayment options are becoming less flexible. If you have high-interest Grad PLUS or Parent PLUS loans, or simply want a smarter long-term repayment plan, refinancing may be worth a close look.

But the best refinance option is not always the one with the lowest advertised rate. It also depends on APR, term length, monthly payment, lender flexibility, and how the loan fits into your bigger financial plan.

A rate check is helpful. A repayment strategy is better.

Your 3-Step Strategy to Lower Rates

Step 1: Apply through Earnest to get your rate.

• Best for: Flexibility & Precision Budgeting

  • The Perk: Earnest’s "Precision Pricing" lets you pick your exact monthly payment to the dollar.
  • The Safety Net: Allows you to skip one payment every 12 months.
  • Quick Check: 2-minute application with a Soft Credit Pull (no score impact).

Step 2: Apply through Sofi Student Loans to get your rate.

• Best for: Career Growth & Unemployment Protection

  • The Perk: Membership includes free career coaching and financial planning.
  • The Safety Net: Best-in-class unemployment protection if you lose your job.
  • Quick Check: Fast, mobile-friendly application with a Soft Credit Pull.

Step 3: Compare the Full Picture

• Once you have both offers, compare more than just rate:

  • Fixed APR vs. variable APR
  • Monthly payment
  • Loan term
  • Total cost over time
  • Lender flexibility
  • Whether the refinance actually improves your overall financial position