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.
- Student loan refinancing with great rates and fees
- Private student loans and refinancing for Texas residents
- No origination or prepayment fees
Brazos Student Loans Details
Brazos Student Loan Refinancing
Min Loan Amount
Max Loan Amount
As low as 4.40% APR
Variable and Fixed
5, 7, 10, 15, 20 years
Up to $1,000 Bonus via Credible
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% autopay discount:
- Variable APR: 5.00% to 8.80%
- Fixed APR: 4.40% to 7.25%
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.
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.
5.00% to 8.80%
4.74% - 9.99%
5.03% - 8.74%
4.40% to 7.25%
4.96% - 9.99%
5.08% - 8.04%
All 50 states
All 50 states
Up to $1,000
Up to $500
Up to $1,100
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.
They have exceptionally competitive private student loan rates. The Brazos Private student loan rates are currently:
- Variable Rate: 5.02% to 9.45% APR
- Fixed Rate: 2.77% to 6.96% APR
Get a quote on a Brazos Private Student Loan here >>
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: 5.00% to 8.90% APR
- Fixed Rate: 2.75% to 6.48% 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 for Refinance Loans and Parent Loans, 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 firstname.lastname@example.org.
If you have private loans, the loans will be originated and serviced by Anovaa, a division of PHEAA (FedLoan).
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 email@example.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.
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 discharge. If you die, the loan is forgiven as to all parties on the loan, including the cosigner. If the cosigner dies, the cosigner is removed from the loan, and you will be solely responsible for repayment of the loan for the remainder of the repayment term. Brazos does not accelerate debt upon death of any party to the loan and will not pursue the estate of a deceased individual.
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.
Min Loan Amount
Min Loan Amount
Pre-Qualified Rates (Soft Credit Check)
5,7,10,15, and 20 years
Late Payment Fee
5% of the monthly payment or $7.50 (whichever is greater) up to a maximum fee of $35.
Title-IV accredited schools
Graduation Requirement (For Refinancing)
Yes, bachelor's degree or higher
Customer Service Phone Number
Customer Service Email
Address For Sending Payments
P.O. Box 2977
Omaha, NE 68103-2977
Up to $1,000 bonus via Credible
Brazos Student Loan Review
Rates and Fees
Products and Services
Brazos is a non-profit lender that offers student loan refinancing and parent loans in the state of Texas.
- Competitive rates and flexible terms
- No origination fees
- Offers refinancing to parents
- Simple online application process
- Only available in the state of Texas
- No cosigner release program
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.
Editor: Clint Proctor Reviewed by: Claire Tak