• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The College Investor

Student Loans, Investing, Building Wealth

  • About
  • Podcast
  • Research
  • Contact
  • Save For College
      • How To Start

      • How To Save For College
      • How To Pay For College
      • What Is the Average Cost of College?
      • What Is A 529 Plan and Where to Open One in Your State
      • How Much Should You Have In A 529 Plan By Age
      • How To Use A 529 Plan For Private Elementary And High School
      • What Are Qualified Expenses For A 529 Plan (And What Doesn’t Count)?
      • The Best Brokers To Open A 529 Plan
      • Tools + Accounts

      • 529 Plans: The Ultimate College Savings Plan
      • 529 Plan Contribution Limits
      • Prepaid Tuition Plans | What To Know
      • Understanding And Using 529A ABLE Accounts
      • Using A Roth IRA To Save And Pay For College
      • FAFSA Deadlines for Financial Aid
      • CollegeBacker Review
      • Upromise Review
      • UNest Review
      • Other Options

      • Student Loan And Financial Aid Programs By State
      • The Guide To Military And VA Education Benefits
      • How To Fill Out The FAFSA
      • How To Find College Scholarships
      • The Best College Scholarship Search Websites
      • How To Find Grants To Pay For College
      • Pell Grants: What They Are And How To Qualify
      • Understanding Federal Work-Study
      • How To Use A 529 Plan If Your Child Doesn’t Go To College
  • Student Loans
      • Borrowing

        • How Student Loans Work
        • How To Apply For A Student Loan
        • How To Find The Best Student Loans And Rates
        • Best Private Student Loans Of June 2022
        • Best Student Loans To Pay For Graduate School
        • Best Student Loans To Pay For Medical School
        • Parent Loans To Pay For College
        • No-Cosigner Student Loan Options
        • Guide To Income Sharing Agreements (ISAs)
        • Best International Student Loans
      • Get Out Of Debt

        • Best Places To Refinance Student Loans In June 2022
        • Best Student Loan Repayment Plans
        • Best Student Loan Refinancing Bonuses And Promotional Offers
        • Student Loan Forgiveness Programs (The Complete List)
        • The Full List Of Student Loan Forgiveness Programs By State
        • Public Service Loan Forgiveness (PSLF)
        • Top Student Loan Scams
        • Average Student Loan Monthly Payment
        • Average Student Loan Debt By Year
      • Reviews

        • Credible Review
        • Splash Review
        • Ascent Review
        • Citizens Bank Review
        • Commonbond Review
        • Earnest Review
        • ELFI Review
        • Laurel Road Review
        • LendKey Review
        • SoFi Review
  • Investing
      • How To Start

        • How To Start Investing in High School
        • How To Start Investing In College
        • How To Start Investing In Your Twenties For 22 – 29 Year Olds
        • How To Start Investing In Your 30s For 30 – 39 Year Olds
        • How To Start Investing With $100 Or Less
        • How To Give Kids The Gift Of Stock
        • What Is Dividend Growth Investing
        • IRA Rollover Chart
      • Tools + Accounts

        • Best Online Stock Brokers
        • The Best Traditional And Roth IRA Accounts
        • The Best Robo-Advisors
        • The Best Investing Apps
        • The Best Places to Trade Options
        • The Best Places To Open A Health Savings Account
        • The Best Solo 401k Providers
        • The Best Self-Directed IRA Providers Of 2022
        • Best Cryptocurrency Exchanges
      • Reviews

        • Vanguard Review
        • Fidelity Review 2022: Still One Of The Best Online Brokers
        • M1 Finance Review
        • TD Ameritrade Review
        • Charles Schwab Review
        • Robinhood Review
        • Webull Review
        • Betterment Review
        • Wealthfront Review
  • Earn More Money
      • Extra Income

        • 15 Best Side Hustles You Can Start Earning With In 2022
        • 53 Side Hustle Ideas To Make Extra Money
        • 100 Ways To Make Money In College
        • 80 Ways To Make Money From Home (In Your Pajamas)
        • 5 Quick Money Making Ideas (That Take Less Than 1 Hour)
        • 10 Interesting Ways You Can Make Money Driving
        • High-Paying Side Gigs That Earn $1,000 or More Per Month
        • The 10 Best Money-Making Apps
        • Paid Surveys: Earn Money For Giving Your Opinion Online
        • 10 Crazy Ways To Make $10,000 You’ve Never Heard Of
      • Build Wealth

        • 35 Passive Income Ideas You Can Use To Build Wealth In 2022
        • 3 Ways To Make $50,000 Per Year Without Working With Passive Income
        • How To Become A Real Estate Investor With Just $500
        • 15 Best Online Business Ideas
        • How to Create Streams of Passive Income on a Limited Budget
        • Residual Income: 7 Super Smart Ways to Build It
        • The Most Common Multiple Income Streams
        • How To Become A Real Estate Mogul With Only $10,000
      • Reviews

        • Fundrise Review
        • RealtyMogul Review
        • FarmTogether Review
        • AcreTrader Review
        • Swagbucks Review
        • Survey Junkie Review
        • TopCashback Review
        • DoorDash Review
  • Personal Finance
      • Banking

        • Best High Yield Savings Accounts Of June 2022
        • 10 Best Money Market Accounts Of June 2022
        • 10 Best Free Checking Accounts In June 2022
        • The Best Bank CD Rates Of June 2022
        • 10 Best Business Checking Accounts In June 2022
        • The Best Online Banks Of June 2022
        • 5 Best Credit Unions Nationwide Of June 2022
        • Best College Student Checking Accounts In June 2022
      • Insurance

        • Best Life Insurance Companies
        • Renters Insurance
        • Car Insurance
        • Pet Insurance
        • Umbrella Insurance
        • Disability Insurance
        • Tuition Insurance
        • Travel Insurance
      • Credit Tools

        • Best Budgeting Apps
        • Cash Advance Apps
        • How To Get A Free Credit Score Report
        • The Best Credit Monitoring Services
        • Debt Settlement: Inside The Secret World
        • Credit Repair Explained: Should You Pay For Help?
        • Best Personal Loan Companies And Lenders
        • Online Loan Companies To Borrow From Home
      • Tax

        • Best Tax Software
        • Free Tax Software
        • IRS Tax Refund Calendar
        • Common IRS Questions and Errors
        • Federal Tax Brackets
        • Capital Gains Tax Brackets
        • 401k Contribution Limits
        • IRA Contribution Limits
        • HSA Contribution Limits
  • Forum
  • Search
Home » Student Loans » Private » Brazos Student Loan Refinancing Review

Brazos Student Loan Refinancing Review

Updated: June 1, 2022 By Robert Farrington

Tweet
Share4
Share
Pin25
Email

At The College Investor, we want to help you navigate your finances. To do this, many or all of the products featured here may be from our partners. This doesn’t influence our evaluations or reviews. Our opinions are our own. Learn more here.Advertiser Disclosure

There are thousands of financial products and services out there, and we believe in helping you understand which is best for you, how it works, and will it actually help you achieve your financial goals. We're proud of our content and guidance, and the information we provide is objective, independent, and free.

But we do have to make money to pay our team and keep this website running! Our partners compensate us. TheCollegeInvestor.com has an advertising relationship with some or all of the offers included on this page, which may impact how, where, and in what order products and services may appear. The College Investor does not include all companies or offers available in the marketplace. And our partners can never pay us to guarantee favorable reviews (or even pay for a review of their product to begin with).

For more information and a complete list of our advertising partners, please check out our full Advertising Disclosure. TheCollegeInvestor.com strives to keep its information accurate and up to date. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products and services are presented without warranty.

Brazos student loan refinancing

Texas residents considering refinancing federal student loans may find that Brazos Higher Education, a non-profit lending company, offers rates below market average rates. The company also offers flexible repayment terms ranging from 5 to 20 years. If you have high interest loans, refinancing to one of Brazos’s term loan options could save you a ton of cash in the long run.

Should you refinance your student loans with Brazos Higher Education? This review will help you understand if you qualify and the rates you can expect.

The great thing about Brazos is that they are on the Credible Platform. We love Credible because you can compare multiple companies in minutes! That can save you time and money. Plus, as a College Investor reader, you get up to a $1,000 gift card bonus if you refinance on Credible. See how Brazos compares here.


Brazos Logo

Quick Summary

  • Student loan refinancing with great rates and fees
  • Private student loans and refinancing for Texas residents
  • No origination or prepayment fees
START HERE

Brazos Student Loans Details

Product Name

Brazos Student Loan Refinancing

Min Loan Amount

$10,000

Max Loan Amount

$400,000

APR

As low as 2.35% APR

Rate Type

Variable and Fixed

Loan Terms

5, 7, 10, 15, 20 years

Promotions

Up to $1,000 Bonus via Credible

Table of Contents
Who Qualifies To Apply With Brazos?
Brazos Student Loan Refinancing
How Does Brazos Student Loan Refinancing Compare
Brazos Private Student Loans
What Borrower Protections Are Available?
Are There Any Fees?
How Do I Contact Brazos?
Is It Worth It?
Brazos FAQs
Brazos Features

Who Qualifies To Apply With Brazos?

Brazos is a student loan refinancing company that specializes in refinancing loans for “established” residents of Texas. To qualify you need a good credit score (at least 720) and an income of at least $60,000.

If you don’t have the necessary credit score or income, you’ll need a cosigner, plus a FICO credit score of at least 690 and an income of $30,000. Soft credit checks are available.

On top of that, you can only refinance your loans with Brazos if you have a bachelor’s degree (or higher) from an accredited university. And, again, you must be a resident of Texas.

Brazos allows qualifying individuals to refinance loans of $10,000 to $150,000 for undergraduate loans and up to $400,000 for medical, graduate, or professional school loans.

Brazos Student Loan Refinancing

Brazos has been offering student loan products for over 40 years. So far it has funded more than 2 million students and provided over $30 billion of financing. Here's a closer look at what you get with Brazos student loan refinancing.

Rates And Terms

Although many people won’t qualify for Brazos loans, those that do will find great interest rates and a variety of terms. Currently, Brazos refinance loans can be repaid over 5,7,10,15, or 20 years.

It’s great to see term options up to 20 years. This long repayment schedule could lower your monthly payment (while still holding onto a decent interest rate) so you can pursue other financial priorities while repaying your debts. Here are Brazos refinance rates including its 0.25% auotpay discount:

  • Variable APR: 2.76% to 5.68%
  • Fixed APR: 2.40% to 4.62%

Note that interest rates are subject to change at any time. Visit Credible to see the most up-to-date rates and to compare Brazos with other lenders.

Parent Refinancing

In addition to student borrowers, parents who took out loans to pay for their child's education can refinance with Brazos as well. Unfortunately, though, Brazos doesn't currently allow parents to transfer Parent PLUS Loans into a child's name.

No Cosigner Release Program

The most concerning feature of Brazos is a lack of any cosigner release program. Cosigners agree to take on payments when you can’t handle them. A lot of times, student borrowers need cosigners to qualify for private loans. 

However, after you establish your income and credit score, and have a history of timely payments, many lenders allow you to release your cosigner. This frees the cosigner from any future obligations. If you need a cosigner to qualify for a student loan refinance, you may want to look to lenders outside of Brazos.

How Does Brazos Student Loan Refinancing Compare

Brazos' interest rates are always very competitive. But, unfortunately, it doesn't lend to residents outside of Texas and also doesn't offer a cosigner release program. Here's a quick look at how Brazos compares.

Header
Splash Financial
ElFi Logo

Rating

Variable APR

2.76% to 5.68%

1.74% - 9.51%

1.86% - 6.01%

Fixed APR

2.40% to 4.62%

2.29% - 8.63%

3.39% - 6.99%

Availability

Texas

All 50 states

All 50 states

Cosigner Release

Bonus Offer

Up to $1,000

Up to $500

Up to $1,100

Cell
GET A QUOTE
READ THE REVIEW
READ THE REVIEW

Brazos Private Student Loans

In addition to offering student loan refinancing, Brazos has announced that it will begin offering a wide variety of private student loans. Here's a quick list of its upcoming menu of loans:

  • Undergraduate Loan
  • Graduate Loan
  • MBA Loan
  • Law Loan
  • Medical Loan
  • Dental Loan
  • Veterinary Loan
  • Doctoral Loan

Rates for these students loans aren't yet available. There will be two in-school repayment options: full repayment or full deferment. If you choose immediate repayment, Brazos says that you'll qualify for a lower interest rate.

Parent Loans

Brazos also offer parents a private loan option that serves as an alternative to parent PLUS loans. These loans come with rock-bottom interest rates starting at under 1% for variable terms.

Right now, their Parent Loan Rates are:

  • Variable Rate: 1.82% to 6.42% APR
  • Fixed Rate: 2.83% to 6.40% APR

Read our full guide to parent student loans here.

See how they compare for private loans on Credible.

Brazos student loans offer great rates and charges no origination fees, but the company isn’t perfect. Here are a few features that may mean you should look elsewhere to refinance.

What Borrower Protections Are Available?

One concerning feature of Brazos (and one shared by most private lenders) is the limited options for forbearance. Brazos offers up to 12 months of forbearance for economic hardship, but does not offer income-driven repayment plans.

To be completely honest, Brazos forbearance are as generous or more so than most other private lenders. But it's far less so than the policies in place for federal borrowers. Borrowers who have income risk, or may need income-driven repayment plans in the future, should probably avoid refinancing their federal loans.

Are There Any Fees?

Brazos does not charge origination fees and they don’t charge prepayment fees either. There is a fee for late payment though. You'll pay the greater of 5% of the monthly payment or $7.50 up to a maximum fee of $35.

How Do I Contact Brazos?

It's important to understand that Brazos doesn't self-service its loans. Instead, it uses Firstmark Services, which is a division of Nelnet. So if you need help with billing or account questions, that's who you'll need to reach out to.

You can contact Firstmark Services customer support at 888-538-7378, Monday through Friday, 7 AM – 8 PM (CT). Their email address is customer.service@firstmarkservices.com. 

If you're still in the application process, you can reach out to Brazos customer service team at 1-800-453-0841 or by email at info@brazos.us.com.

Is It Worth It?

Brazos Higher Education offers excellent rates and terms on student loan refinancing. If you’re a Texas resident that qualifies, you probably won’t be able to beat the rate. But check here on our full list of Texas Student Loan and Financial Aid programs.

To be sure, consider comparing options at Credible, a student loan comparison site.

Still, private refinancing isn’t for everyone. Before you apply, be sure you’re confident in your repayment ability. You don’t want to land on hard financial times and be without the option of an income-driven repayment plan.

Brazos FAQs

Let's answer a few of the most common questions we receive about Brazos.

Where is Brazos located?

Brazos is headquartered in Waco, Texas and only lends to Texas residents.

Who services Brazos student loans?

All new student loans disbursed by Brazos are serviced by Firstmark Services. Other third-party servicers of Brazos student loans include AES-PHEAA, Navient/SLMA, and Nelnet.

Can Brazos borrowers have their student loans forgiven?

Like all private lenders, Brazos does not offer any student loan forgiveness programs. It does provide death and disability discharge, but only for non-cosigned loans.

Does Brazos have any bonus offers or incentives?

Brazos doesn't directly offer any bonuses but refinance borrowers can receive up to a $1,000 gift card by applying through Credible.

Is there a Brazos referral program?

Yes, you'll receive $200 each time a friend or family member takes out a loan with Brazos using your link.

Brazos Features

Min Loan Amount

  • Private student loans: $1,000
  • Refinance loans: $10,000

Min Loan Amount

  • Private student loans: Cost of attendance
  • Refinance loans: $400,000

Variable APR

  • Private student loans:  1.90% to 8.61%
  • Refinance loans: 2.76% to 5.68%

Fixed APR

  • Private student loans: 2.75% to 6.45%
  • Refinance loans: 2.40% to 4.62%

Pre-Qualified Rates (Soft Credit Check)

Yes

Autopay Discount

0.25%

Loan Terms

5,7,10,15, and 20 years

Origination Fees

None

Prepayment Penalty

No

In-School Payments

  • Full payment
  • Full deferment

Late Payment Fee

5% of the monthly payment or $7.50 (whichever is greater) up to a maximum fee of $35.

Cosigners Allowed

Yes

Cosigner Release

No

Grace Period

No

Eligible Schools

Title-IV accredited schools

Graduation Requirement (For Refinancing)

Yes, bachelor's degree or higher

Customer Service Phone Number

1-800-453-0841

Customer Service Email

customer.service@firstmarkservices.com

Loan Servicer

Firstmark Services

Address For Sending Payments

Firstmark Services

P.O. Box 2977

Omaha, NE 68103-2977

Promotions

Up to $1,000 bonus via Credible

Brazos Student Loan Review
  • Rates and Fees
  • Application Process
  • Customer Service
  • Products and Services
Overall
4.1

Summary

Brazos is a non-profit lender that offers student loan refinancing and parent loans in the state of Texas.

Pros

  • Competitive rates and flexible terms
  • No origination fees
  • Offers refinancing to parents
  • Simple online application process

Cons

  • Only available in the state of Texas
  • No cosigner release program
  • Compare Brazos
Robert Farrington
Robert Farrington

Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.

He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.

He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.

Brazos Student Loan Refinancing Review
Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, or other advertiser and have not been reviewed, approved or otherwise endorsed by any of these entities.
Comment Policy: We invite readers to respond with questions or comments. Comments may be held for moderation and are subject to approval. Comments are solely the opinions of their authors'. The responses in the comments below are not provided or commissioned by any advertiser. Responses have not been reviewed, approved or otherwise endorsed by any company. It is not anyone's responsibility to ensure all posts and/or questions are answered.
Subscribe
Connect with
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
0 Comments
Inline Feedbacks
View all comments

Primary Sidebar

Featured Lender Reviews

>  Credible (recommended)
>  Splash (recommended)
>  ELFI
>  Commonbond
>  LendKey
>  Earnest
>  Laurel Road

More On Student Loans

  • Best Private Student Loans Of June 2022
  • Top Student Loan Scams
  • How To Find The Best Student Loans And Rates
  • Best Places To Refinance Student Loans In June 2022
  • Best Student Loan Refinancing Bonuses And Promotional Offers
  • Student Loan Forgiveness Programs (The Complete List)
  • Student Loan And Financial Aid Programs By State

Footer

Who We Are

The College Investor is an independent, advertising-supported publisher of financial content, including news, product reviews, and comparisons.

Connect

  • Contact Us
  • Advertise
  • Press & Media

About

  • About
  • Our Team
  • Podcast
  • Editorial Guidelines
  • How We Make Money
  • Archives

Social

Copyright © 2022 · The College Investor · Privacy Policy ·Terms of Service · DO NOT Sell My Personal Information

wpDiscuz