The #LifeofaMedStudent
Student Loan Refinancing Page
Below are some great options for student loan refinancing that have been negotiated with these companies to provide a cash-back bonus to the refinancer (YOU!!!). If you are not going to end up on the Public Service Loan Forgiveness program, then refinancing the growing amount of student loan debt is a must. A few of the companies will even let you refinance as a resident (Splash, Laurel Road), cutting your growing interest while keeping your payments below Income-Based Repayment plans.
Personally, I was able to refinance my $230,000 of student loan debt at an average 6.6% and traded that for a 5-year fixed payment plan at 3.25% – saving me over $65,000 in interest!!!
I believe the best way to use this list is to make applications with each one through the links below and check your rates. My experience was they were generally pretty similar. The process is quick, easy, and can all be completed online. Then go with the best rate or best company for your situation (like still being in residency, terms you desire, borrower protections, etc).
Once you’ve picked a company to refinance your loans, make sure to confirm your cash back bonus via #LifeofaMedStudent with their customer service prior to closing the loan! And let me know about your experience as well!!
CommonBond
$300 bonus to you!
Commonbond is known for having some of the best borrower protections in place with their loans – in case of death, disability, or even loss of work! Also, for each refinance completed, CommonBond will help fund a child’s education. Common bond also offers flexible repayment options! See how much you can save HERE!
**$300 to be credited to your PayPal account within 6 weeks of loan funding. Lending decisions are not impacted in any way by participation in this offer. Offer is nontransferable. No substitutions. Limit one offer per loan.
Earnest
$300 bonus to you!
Earnest is great for those looking to create their own unique loan options. Choose the exact monthly payment that fits your budget, and terms that fit your payoff timeline. See how much you can save by filling out an application HERE!
Earnest Welcome Bonus Offer Disclosure: Terms and conditions apply. To qualify for this Earnest Welcome Bonus offer: 1) you must not currently be an Earnest client, or have received the bonus in the past, 2) you must submit a completed student loan refinancing application through the designated LifeofaMedStudent link; 3) you must provide a valid email address and a valid checking account number during the application process; and 4) your loan must be fully disbursed. The bonus will be automatically transmitted to your checking account after the final disbursement. There is a limit of one bonus per borrower. This offer is not valid for current Earnest clients who refinance their existing Earnest loans, clients who have previously received a bonus, or with any other bonus offers received from Earnest. Bonus cannot be issued to residents in KY, MA, or MI. Individual bonus offers may not be combined.
Splash Financial
$300 bonus to you!
Splash Financial offers a new refinancing product with great rates for doctors! This could save you tens of thousands, and it only takes a few minutes to check your rate. New terms have been added for flexibility (5, 7, 15, or 20 years) and there is no longer any capitilzation of the loan during residency.
They also will refinance you as a resident with a $1 monthly payment for the rest of your training! Great option for residents who need the flexibility of extra cash-flow during those years.
Start an application HERE!
Laurel Road
$300 bonus to you!
Laurel Road is known for great rates, especially once an attending. Also, Laurel Road has a resident program that allows you to pay just $100/month while you finish training. See what Laurel Road can do for you by starting an application HERE!
Need help figuring out what to do with your loans? Not sure what your best option is? Check out #LifeofaMedStudent Sponsor Student Loan Planner!
Student Loan Help!
Andrew Paulson, CSLP with StudentLoanAdvice.com
I am the Lead Student Loan Consultant and Co-Founder of StudentLoanAdvice.com. I have a Masters degree in Accounting and a Certified Student Loan Professional (CSLP) and enjoy business and finance. My passion for helping people find solutions to complex financial problems inspired me to create StudentLoanAdvice.com.
I have had the pleasure of advising hundreds of doctors across the country on how to best manage their student loan debt. In fact, the journey to StudentLoanAdvice.com began when I sat down with my wife years ago as we made a plan to pay off her nursing school debt. Your student loan debt may seem overwhelming at first, but my clients feel huge relief when a solid, actionable plan is in place.