Best Places to Refinance Student Loans Without a Degree in 2024

If you have student loans but didn’t earn a degree, you can still refinance your student loans. There are fewer options available, however.

Many private lenders require borrowers to have a degree to qualify for refinancing. But you might have a shot at refinancing your loans at a lower interest rate without a degree as long as you meet other eligibility requirements, like having a good credit history and meeting a maximum debt-to-income ratio.

Depending on the size of your student loan balance, refinancing could cut thousands of dollars off of your overall student debt. Whether you have private student loans or feel it makes sense to refinance your federal loans now while rates are so low, you have options as a non-graduate. Here’s a look at where you can refinance student loans without a degree.

7 Best places to refinance student loans without a degree

Federal loans are eligible for student loan consolidation at any time. But to qualify for a new loan from a private refinancing lender, a college degree will typically be required.

Understand that you may not necessarily need a bachelor's degree to qualify for refinancing. Graduates of associate degree programs may be eligible to apply for a student loan refinance with certain lenders (e.g., SoFi and Earnest).

And a handful of lenders still refinance student loans for people without a degree whatsoever. However, you might be looking at higher fixed-rate and variable-rate loan options for refinancing.

If you don’t have a college degree, check out the list below to find a lender that’s right for you.

Citizens

One refinancing option for people without a degree is Citizens. To be eligible, you must make at least 12 qualifying monthly payments after leaving school. You need a minimum of $10,000 in student loans to refinance through Citizens.

Citizens offers flexible loan terms ranging from 5 to 20 years. If you need a cosigner to qualify, you can apply for a cosigner release after making 36 consecutive, on-time principal and interest payments. Plus, Student Loan Planner® borrowers can get up to a $1,250 cash bonus by using our Citizens link.

Apply with Citizens or read our full Citizens review.

PNC

PNC also refinances student loans without a degree. To qualify, borrowers must be a U.S. citizen who has been living in the U.S. for the past two years, have at least 24 months of repayment history, and two years of continuous income or employment history.

Borrowers can earn a 0.50% interest rate discount by enrolling in automatic payments. If you have a cosigner, they can be released after 48 consecutive on-time payments.

PNC offers refinancing for loans between $10,000 and $75,000. It offers three repayment term options: 5, 10 or 15 years. Read our full PNC review.

Advantage Education Loan

Another lender that offers refinancing to people without a degree is Advantage Education Loan. Terms range from 10 to 20 years. A minimum of $7,500 in loans is required to refinance. Borrowers must also be a U.S. citizen or non-citizen with proof of residency card.

Borrowers may require a cosigner if they don’t meet Wells Fargo’s credit requirements. Cosigner release is available after 36 months of on-time, regularly-scheduled payments. And borrowers can reduce their interest by 0.25% by signing up for autopay.

Rhode Island Student Loan Authority (RISLA)

The Rhode Island Student Loan Authority (RISLA) also refinances student loans without a degree. You don’t need to live or go to school in Rhode Island to qualify. Repayment options range from five to 15 years. Refinancing is available for loans from $7,500 to $250,000.

RISLA doesn’t charge any upfront fees for refinancing, and there are no prepayment penalties. Borrowers can earn a 0.25% autopay discount. Cosigners aren’t required but can help qualify for a lower rate. RISLA does not offer a cosigner release on its refinance loans; however, you can reapply in the future for a new refinance loan without a cosigner.

EDvestinU

EDvestinU has refinancing options for people without a college degree. The minimum amount that can be refinanced is $7,500, and the maximum is $200,000. Any U.S. citizen or permanent resident over the age of 18 can apply as long as your student loans were used for attendance at a Title IV, degree-granting institution.

A cosigner isn’t required with EDvestinU but may help you qualify or secure a lower rate. Cosigner release is available after 24 consecutive on-time full payments. Credit score, income and other requirements also apply.

Massachusetts Educational Financing Authority (MEFA)

Massachusetts Educational Financing Authority (MEFA) also refinances loans for people who have no degree. The minimum loan amount is $10,000, and MEFA offers terms from seven to 15 years.

You must be a U.S. citizen or permanent resident to apply. The last 12 months of student loan payments must have been made in full and on time. You do not need to be a resident of Massachusetts or have gone to school in the state to apply.

What you need to know about student loan refinancing

Can you refinance student loans without a college degree? The list above shows it’s possible. As with any private lender, borrowers are subject to hard credit checks and other various requirements to qualify for refinancing, such as income requirements and employment verification.

Typically, requirements will be tougher if you don’t have a college degree. Some of these lenders, for example, require a long, on-time payment history for people who have not completed their bachelor’s degrees.

While refinancing is a useful student loan repayment strategy for many people, it’s not for everyone. For example, you don't want to refinance if you might be eligible for Public Service Loan Forgiveness (PSLF).

Additionally, when refinancing federal student loans, you lose access to all federal benefits. This includes several important protections designed to help borrowers, such as income-driven repayment plans, loan forgiveness options, deferment and forbearance.

If your student loan debt is less than 1.5 times your income and your personal finances are in order (i.e., you have a stable income and an emergency fund), refinancing could be the right strategy for you. If your debt is higher than that, pursuing student loan forgiveness is probably a better choice. You can also search Student Loan Planner®’s refinance partners to see if you qualify for a refinance cash bonus.