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Whether you need a cosigner depends on a variety of factors such as your age and your credit history.

Do I need a cosigner to refinance?

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Information about how student loan refinancing works and when you should consider it.

Student Loan Refinancing

Student loan refinancing is when a private lender pays off your existing loan(s) and gives you a new loan with new terms.

How does refinancing work?

The main reason that people refinance is to get a lower interest rate, a more favorable repayment term, or a combination of both.

Why should I consider refinancing my student loans?

Whether you should refinance student loans depends on your unique situation.

Should I refinance my student loans?

The lenders on Sparrow generally determine interest rates by your credit score and income.

How are interest rates determined on refinance loans?

Refinancing federal student loans is similar to refinancing private student loans. Start by deciding if refinancing is right for you.

How do I refinance federal student loans?

There are certain benefits and protections for federal loans that may not transfer to private loans.

If I refinance, will I lose any benefits associated with federal student loans?

You can refinance your student loans as often as you’d like.

How many times can I refinance my student loans?

The loan limit varies from lender to lender.

How much can I borrow for a refinance loan?

There are various factors to consider when selecting a student loan refinancing option.

How do I choose the best student loan refinancing option?

If you are unable to make the payments on your student loan, there are a few things you can do.

I am on a payment plan for school but struggling to make the payments. Can I get a loan to help me with the payments?

General Refinancing Questions

To determine your eligibility, complete the two-minute Sparrow application.

How do I know if I am eligible to refinance my student loan through Sparrow?

Each student loan refinance lender has different eligibility requirements.

How do I get approved for a student loan refinance?

No, you must be out of school or no longer enrolled in school to be eligible to refinance with one of our lending partners.

Can I refinance student loans while I’m still in school?

Some lenders require that loans be out of forbearance or deferment, and others do not.

My loans are in deferment or forbearance. Can I still refinance?

Eligibility for Student Loan Refinancing

Our lending partners accept both federal and private loans used to finance an education, including Parent PLUS loans.

What types of loans can I refinance on Sparrow?

No, there are zero fees associated with refinancing through Sparrow.

Are there any fees associated with refinancing through Sparrow?

No, you do not need to complete the FAFSA in order to use Sparrow.

Do I need to complete the FAFSA to refinance through Sparrow?

Yes, some of our lending partners provide options for borrowers with eligible student loans who did not graduate.

Can I use Sparrow to refinance my student loans if I didn’t graduate?

Yes. International students are eligible to use Sparrow to receive prequalified rates from our lending partners.

Is refinancing through Sparrow available to international students?

Yes, you can consolidate and/or refinance your student loans with Sparrow.

Can I consolidate and/or refinance my student loans with Sparrow?

You can view the status of your refinance application through your Sparrow Dashboard.

Student Loan Refinancing

Do I need a cosigner to refinance?

General Refinancing Questions

Eligibility for Student Loan Refinancing

Refinancing on Sparrow