Best Places to Refinance Student Loans Without a Degree in 2021

When you have pupil loans however didn’t earn a level, you’ll be able to nonetheless refinance your pupil loans. There are fewer choices accessible, nonetheless.

Many non-public lenders require debtors to have a level to qualify for refinancing. However you might need a shot at refinancing your loans at a decrease rate of interest and not using a diploma so long as you meet different necessities, like credit score historical past and debt-to-income ratio.

Relying on the scale your pupil mortgage stability, refinancing at in the present day’s charges may lower hundreds of {dollars} off of your general pupil debt. Nonetheless, federal debtors should need to maintain off on refinancing their pupil loans till the COVID-19 forbearance interval ends.

Whether or not you could have non-public pupil loans otherwise you really feel prefer it is smart to refinance your federal loans now whereas charges are so low, you could have choices as a non-graduate. Right here’s a take a look at the place you’ll be able to refinance pupil loans and not using a diploma.

7 greatest locations to refinance pupil loans and not using a diploma

Federal loans are eligible for pupil mortgage consolidation at any time. However to qualify for a brand new mortgage from a non-public refinancing lender, a university diploma will usually be required.

Perceive that you could be not essentially want a bachelor’s diploma to qualify for refinancing. Graduates of associates diploma applications could also be eligible to use for a pupil mortgage refinance with sure lenders (SoFi being a outstanding instance).

And a handful of lenders nonetheless refinance pupil loans for individuals and not using a diploma by any means. When you don’t have a university diploma, try the listing under to discover a lender that’s best for you.

Residents Financial institution

One refinancing possibility for individuals and not using a diploma is Residents Financial institution. To be eligible, you will need to make a minimum of 12 qualifying month-to-month funds after leaving faculty. You want a minimal of $10,000 in pupil loans to refinance by Residents Financial institution.

Residents Financial institution presents versatile phrases starting from 5 to twenty years. When you want a cosigner to qualify, you’ll be able to apply for a cosigner launch after making 36 consecutive, on-time principal and curiosity funds. Plus, Pupil Mortgage Planner® debtors can rise up to a $1,250 money bonus by utilizing our Residents Financial institution hyperlink.

Apply with Residents Financial institution or learn our full Residents Financial institution overview.


An alternative choice to contemplate is Uncover. Refinancing by Uncover doesn’t require a cosigner, and you may earn a 0.25% rate of interest discount for enrolling in computerized funds.

The minimal quantity you’ll be able to refinance is $5,000, and the utmost is $150,000. There isn’t a prepayment penalty whenever you refinance by Uncover. In addition they don’t cost any software, origination or late charges on refinanced loans.

Apply with Uncover or learn our full Uncover overview.


PNC additionally refinances pupil loans and not using a diploma. To qualify, debtors have to be a U.S. citizen who has been residing within the U.S. for the previous two years, have a minimum of 24 months of compensation historical past, and two years of steady revenue or employment historical past.

Debtors can earn a 0.50% rate of interest low cost by enrolling in computerized funds. When you have a cosigner, they are often launched after 48 consecutive on-time funds.

PNC presents refinancing for loans between $10,000 and $75,000. It presents three compensation time period choices: 5, 10 or 15 years. Learn our full PNC overview.

Benefit Training Mortgage

One other lender that gives refinancing to individuals and not using a diploma is Benefit Training Mortgage. Phrases vary from 10 to twenty years. A minimal of $7,500 in loans is required to refinance. Debtors should even be a U.S. citizen or non-citizen with proof of residency card.

Debtors could require a cosigner in the event that they don’t meet Wells Fargo’s credit score necessities. Cosigner launch is accessible after 36 months of on-time, regularly-scheduled funds. And debtors can cut back their curiosity by 0.25% by signing up for autopay.

Rhode Island Pupil Mortgage Authority (RISLA)

The Rhode Island Pupil Mortgage Authority (RISLA) additionally refinances pupil loans and not using a diploma. You don’t must stay or go to highschool in Rhode Island to qualify. Phrases vary from 5 to fifteen years. Refinancing is accessible for loans from $7,500 to $250,000.

RISLA doesn’t cost any upfront charges for refinancing, and there aren’t any prepayment penalties. Debtors can earn a 0.25% rate of interest low cost by enrolling in computerized funds. Cosigners aren’t required however may also help qualify for a decrease charge. RISLA doesn’t supply a cosigner launch on its refinance loans; nonetheless, you’ll be able to reapply sooner or later for a brand new refinance mortgage and not using a cosigner.


EDvestinU has refinancing choices for individuals and not using a faculty diploma. The minimal quantity that may be refinanced is $7,500, and the utmost is $200,000. Any U.S. citizen or everlasting residents over the age of 18 can apply so long as your pupil loans have been used for attendance at a Title IV, degree-granting establishment.

A cosigner isn’t required with EDvestinU however could show you how to qualify or safe a decrease charge. Cosigner launch is accessible after 36 consecutive on-time full funds. Credit score rating, revenue and different necessities additionally apply.

Massachusetts Instructional Financing Authority (MEFA)

Massachusetts Instructional Financing Authority (MEFA) additionally refinances loans for individuals who don’t have any diploma. The minimal mortgage quantity is $10,000, and MEFA presents phrases from seven to fifteen years.

You have to be a U.S. citizen or everlasting resident to use. The final 12 months of pupil mortgage funds will need to have been made in full and on time. You do not want to be a resident of Massachusetts or have gone to highschool within the state to use.

What it is advisable learn about pupil mortgage refinancing

Are you able to refinance pupil loans and not using a faculty diploma? The listing above exhibits it’s attainable. As with every non-public lender, debtors are topic to credit score checks and different varied necessities to qualify for refinancing, comparable to revenue necessities and employment verification.

Usually, necessities are going to be more durable should you don’t have a university diploma. A few of these lenders for instance, require an extended on-time fee historical past for individuals who haven’t accomplished their bachelor’s levels.

Whereas refinancing is a helpful compensation technique for many individuals, it’s not for everybody. When refinancing federal pupil loans, you lose entry to a number of essential protections designed to assist debtors, comparable to federal compensation plans, mortgage forgiveness choices, deferment and forbearance.

In case your pupil mortgage debt is lower than 1.5 occasions your revenue and you’ve got a steady revenue and an emergency fund, refinancing might be the correct technique for you. In case your debt is larger than that, then pursuing mortgage forgiveness might be a better option. You can even search Pupil Mortgage Planner®’s refinance companions to see should you qualify for a refinance money bonus.

Refinance pupil loans, get a bonus in 2021
1 Disclosures
$1,050 BONUS1 For 100k+. $300 bonus for 50k to 99k.1
VISIT LAUREL ROAD Variable 1.64-5.65percent1 Fastened 2.25-5.75percent1

2 Disclosures
$1,050 BONUS2 For 100k+. $300 bonus for 50k to 99k.2
VISIT COMMONBOND Variable 2.49-6.84%%2 Fastened 2.59-6.74percent2

3 Disclosures
$1,000 BONUS3  For 100k or extra. $200 for 50k to $99,9993
VISIT EARNEST Variable 1.88-5.64percent3 Fastened 2.44-5.79percent3

4 Disclosures
$1,000 BONUS4 For 100k+. $300 bonus for 50k to 99k.4
VISIT SPLASH Variable 1.88-6.15percent4 Fastened 2.44-6.62percent4

5 Disclosures
$1,275 BONUS5  For 150k+. Tiered 300 to 575 bonus for 50k to 149k.5
VISIT ELFI Variable 2.39-6.01percent5 Fastened 2.47-5.99percent5

6 Disclosures
$1,000 BONUS6 For $100k or extra. $200 for $50k to $99,9996
VISIT SOFI Variable 2.25-6.59percent6 Fastened 2.49-6.94percent6

7 Disclosures
$1,250 BONUS7  $350 for 50k to 100k7
VISIT CREDIBLE Variable 1.80-8.90percent7 Fastened 2.15-9.15percent7

Unsure what to do together with your pupil loans?

Take our 11 query quiz to get a personalised suggestion of whether or not you need to pursue PSLF, IDR forgiveness, or refinancing (together with the one lender we expect may provide the greatest charge).

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