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Home » Student Loans » Student Loan Refinance » Best Student Loan Refinancing Bonuses And Promotional Offers

Best Student Loan Refinancing Bonuses And Promotional Offers

Updated: January 20, 2021 By Robert Farrington

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.

Student Loan Refinancing Bonuses

Some student loan lenders offer cash bonuses when you refinance a student loan with them. Many of these offers are unique to The College Investor readers because we've built these partnerships and only highlight the best offers for our readers.

These are referral links, meaning I do receive a commission if you refinance through these lenders. However, that doesn't impact you in any way. We're simply trying to showcase the best bonus offers for refinancing your student loans.

Remember, at the end of the day, don't let $1,000 sway you. Shop around to find the best lender that meets your needs. A lower interest rate will probably outweigh any bonus offer over the course of the loan.

Our favorite comparison tool is Credible. The reason is they aren't a lender, but a marketplace where you can compare a bunch of different offers at once. They offer College Investor readers a $1,000 gift card bonus if you refinance at least $100,000, otherwise it's a $500 gift card bonus if you go through their platform.

Special Note During Covid-19: You may not want to refinance Federal student loans until December, due to the pause in interest and student loan payments. Learn more about special programs for your student loans during Covid-19 here.

Best Student Loan Bonus Offers
Credible - Up to $1,000
ELFI - Up to $775
LendKey - $750
Splash Financial - $500
First Republic - $300
Laurel Road - $200

Note: The student loan offers that appear on this site are from companies from which The College Investor receives compensation. In fact, these bonus offers are tied to advertising agreements with these companies. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear, however, this list is ranked by bonus dollar amount). The College Investor does not include all student loan companies or all student loan offers available in the marketplace.

Best Student Loan Refinancing Bonuses

Here's our current list of the best student loan refinancing bonuses. We keep this list up to date as best as possible. These bonuses are based on our relationship with the student loan lender. You might find different offers elsewhere, but we strive to have the best available.

Remember to check out our list of the best places to refinance student loans as well.

Credible - Up to $1,000

Credible is our favorite marketplace for comparing student loans.  They have almost a dozen different lenders that you can easily shop and compare on their platform. And as a College Investor reader, no matter what lender you actually choose - if you refinance on their platform you'll get:

A $1,000 gift card bonus if you refinance at least $100,000 in student loans.

A $500 gift card bonus if you refinance less than $100,000 in student loans.

That's the best bonus we've seen yet!

Check out our Credible review here.

Apply at Credible here >>

Apply Now

ELFI - Up to $775

ELFI, one of the more unknown lenders on this list, but one that has a long track record of helping borrowers refinance their student loans. Plus, they are consistently at the top of "best rate" charts.

Just for being a College Investor reader, you get an awesome bonus:

  • Refinance $50,000 to $99,999 - Get a $300 Bonus!
  • Refinance $100,000 to $149,999 - Get a $575 Bonus!
  • Refinance over $150,000 - Get a $775 Bonus!

That means, if you're quick, and you sign up through our site, you can earn up to $775 towards your student loans!

If you're organized, this can be an easy win for a bonus. Check out our full ELFI review here.

Apply at ELFI here >>

Elfi Logo
Apply Now

LendKey - $750

LendKey offers private student loans and student loan refinancing by connecting borrowers to its network of over 300 credit union and banking partners. With access to their large network of partner lenders, they offer some of the lowest rates you'll find. Their loans have no origination fees or application fees, and you can check your rate online in just 2 minutes with no credit score impact. 

LendKey is currently offering College Investor readers a $750 bonus if you refinance a loan over $150,000, and a $300 bonus if you refinance under $150,000.

That's a great bonus, and you can apply here to get started.

You can read our LendKey review here.

Apply at LendKey here >>

LendKey Logo
Apply Now

Splash Financial - $500

Splash Financial is a newer student loan refinancing lender, and they have come onto the marketplace with a "splash". We highly recommend Splash as they typically have one of the lowest rates you'll find in the student loan marketplace. 

Splash is currently offering College Investor readers a $500 bonus if you refinance a loan over $50,000.

That's a great bonus, and you can apply here to get started.

You can read our Splash Financial Review here.

Splash Financial
Apply Now

First Republic - $300

First Republic is a traditional bank that is offering help to those looking to refinance. They offer a slightly different product - a personal of credit - which can be used to refinance your student loans. First Republic is known for having some of the lowest interest rates on loans, so if you qualify, you should check them out! Plus, a nice welcome bonus is always a plus!

Check out our full First Republic review here.

Apply at First Republic here >>

First Republic Student Loan Refinancing
Apply Now

Laurel Road - $200

Laurel Road, formally DRB Student Loans, is an established student loan lender with a new name. Laurel Road really focuses on medical and dental graduates, but they have loan options that will work for any borrower. They might not be the best, however, if you're not in one of those categories. If you do consider Laurel Road, make sure you take advantage of their $200 bonus offer!

Check out our full Laurel Road review here.

Apply at Laurel Road here >>

Laurel Road Logo
Apply Now

Student Loan Bonus Offer FAQs

We get a lot of questions about why companies offer student loan bonus offers. Like everything else - it's marketing. Some companies try to compete on rate and fees, others on repayment programs, and other by offering awesome incentives to refinance your student loans. 

Your goal as a borrower should be to figure out the best combination of all of the above for your needs.

Here are some common student loan bonus offer FAQs:

Should I refinance my student loans?

Maybe - if you have private student loans, it can make sense to shop often and refinance when you can get a better rate. If you have Federal student loans, it doesn't always make sense - since you lose the benefits Federal loans offers.

Is it possible to refinance Federal and private student loans together?

Yes, you can refinance all of your student loans together.

How do you get the best rate when you refinance?

To get the best rate when you refinance student loans, you typically need to have great income, credit, and you are taking out a short term loan (5 years or less). Variable rates are also typically lower than fixed rate loans.

How do you get the best bonus offer?

Check out our list of student loan bonus offers and see the terms. The best offers are typically for higher balance refinancing.

Can you refinance more than once?

Yes, you can refinance as often as you would like to. However, you usually cannot refinance again at the same lender.

Final Thoughts

Remember, don't choose a student loan refinancing company simply because of their bonus or promotional offer. The interest rates, term, and fees can make a big difference and easily outweigh any bonus offer.

If you have Federal student loans, remember, it typically doesn't make sense to refinance Federal loans into private student loans. 

At the end of the day, if you've already found a lender with a great rate and term that matches your needs - then get paid for using them!

Student Loan Refinancing Bonuses
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.

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.

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Featured Lender Reviews

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

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