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The WCI Student Loan Refinancing Deals

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  • The WCI Student Loan Refinancing Deals

    All of these companies allow you to get a lower interest rate than what you currently have (most of the time.) If you refinance by going through the links on this page, I also get paid a small fee. However some of these also offer you a special "WCI" deal if you go through the links on this page. This is a major revenue source for this website and I appreciate you using these links if you choose to refinance your loans. If you run into issues with any of these companies, please let me know as I have been able to assist many readers with some of the red tape and I want the experience to be as smooth as possible for future refinancers.

    Splash Financial

    This is a new company on the scene, originally called GradSchoolLoans, but they also offer a great resident program. Their monthly required payment during residency is just $1 (for a maximum of 84 months of training.) Expect rates in the 5.29-5.44% range for a 10 year repayment period after training. They tell me that residents and fellows all get the same rate but that the rates vary by length of training. So if you need 5 years of training and plan to pay back loans over 10 years, you’ll pay a slightly higher rate than someone who only needs 2 more years of training. The WCI deal with Splash! is variable (<$100K = $250, $100-200K = $500, >$200K = $1000 back to you) if you use the above link.


    Credible is brand new to the site in late 2015 so I'm just starting to get some experience with them. They are unique in that they allow you to apply with 7+ lenders with a single application, most of whom are NOT on this page. You get an extra $550 by using this link. Credible also offers new student loans to medical students.

    Common Bond

    Common Bond has been around for a long time, although I've only had them on the site since early 2015 or so. I have had almost no negative feedback about them. They also refinance Parent PLUS loans. Dozens of WCI readers have refinanced their loans with Common Bond and going through this link gives you an extra $500 cash back.

    Lend Key

    Lend Key is a newer WCI sponsor (came on board in 2015) but dozens have used them already. Formerly known as CU Student Loans, all of their loans are funded by community lenders like credit unions. You get an extra $300 by using this link.


    ELFI (Education Loan Finance from Southeast Bank), has come highly recommended from readers for a low rate. The special WCI deal for ELFI is $325 back to you. Low rates, lots of options, happy customers, nice bonus….what’s not to like?



    SoFi was one of the pioneering companies in student loan refinancing and was a big supporter of the 2015 WCI Scholarship. I've visited their offices in the Bay Area and love what they're doing. They also do other kinds of lending like "doctor" mortgages and personal loans. Hundreds of WCI readers have refinanced their student loans with SoFi. You get an extra $300* by using this link. Disclaimer


    Earnest came on board here at WCI in 2015 and dozens of readers have used them without any negative feedback making it back to me. They have a couple of unique features in that they allow you to pick your monthly payment and also allow you to switch between a variable and fixed rate without any charge. You also get $300 for using Earnest.

    Laurel Road

    Laurel Road was one of the first companies to refinance student loans and the first one to come on as a WCI sponsor. I've met their CEO personally. Hundreds of WCI readers have refinanced with them. There were some growing pains over the years (read the comments sections of relevant posts for details) but the kinks have pretty much all been worked out now. Laurel Road is also one of only three that will refinance you as a resident. You get an extra $300 by using this link.


    First Republic Bank - $200 back to you

    Reviewed here, First Republic offers the lowest rates I've seen yet, with fixed rates starting at 1.95% (at least as of March 2016.) Unfortunately, they only lend to folks who live near their branches- in California, New York City, Boston, Greenwich CT, Portland OR, and Palm Beach FL. But if you live in those areas, take advantage! In order to get the negotiated WCI deal, email [email protected] with the words "First Republic Referral" in the subject line for a direct referral or contact my banker Kerry Berchtold at 339-235-0419 or [email protected] and let her know you were referred by WCI.

    There are other lenders out there, although these companies seem to be the biggest ones in the market. As I find others (or they find me) and negotiate a deal for you with them, I'll start listing them here.



    Helping those who wear the white coat get a fair shake on Wall Street since 2011

  • #2
    Is it a condoned financial move to buy a beach condo in Santa Barbara to be able to get the First Republic Deal, as Im about 100 miles away from the nearest branch? No? Dang.


    • #3
      First Republic really does seem to have the best deals. That being said, my fiance did a private loan refi through Sofi before we were aware of options. The good news is they throw some of their VC money into customer appreciation parties in the Bay Area that have been a blast. Cocktails and appetizers plus a free Apple Watch raffle make up for any interest we've paid on their smallish loan.


      • #4
        Any disadvantages to serially refinancing?

        I refinanced to DRB, then Sofi, and am now in the process with Common Bond. Certainly happy that each of these transactions provide a benefit to WCI.


        • #5
          This thread used to be locked.  I wonder what happened. Maybe Cindy unlocked it when she updated it.

          No, no disadvantages to serially refinancing as long as you get lower rates each time.
          Helping those who wear the white coat get a fair shake on Wall Street since 2011


          • #6
            Has anyone used Elfi? Their 5 year variable is the lowest rate I'm seeing (2.1 vs 2.5+).


            • #7

              Has anyone used Elfi? Their 5 year variable is the lowest rate I’m seeing (2.1 vs 2.5+).
              Click to expand...

              Looks pretty promising.  Would love to hear if someone actually closed at that rate.


              • #8
                I closed last week with elfi at 2.39% 5-year variable on $140,000 balance. So far so good.


                [Again, I can't figure out how this thread keeps becoming unlocked.

                More news to come on a WCI deal with Elfi though. Been working on this one for a while.-WCI]


                • #9
                  Looks like it's still unlocked  :lol:

                  How long on the Elfi WCI deal??  Kicking myself for not getting a quote from them on my last refi...


                  • #10
                    Did you see that Sofi now offers a $100 payment for residents and fellows?!



                    • #11

                      Did you see that Sofi now offers a $100 payment for residents and fellows?!

                      Click to expand...

                      Yes. So far I've mentioned it in two blog posts in a week, a Tweet, and a Facebook post.

                      How does this thread keeping becoming unlocked? I think it's when Cindy updates it with new info.....
                      Helping those who wear the white coat get a fair shake on Wall Street since 2011