Refinance Student Loans with a Cash Back Bonus ($300-$550)

One of the biggest steps in our financial journey involved paying off $200,000 of student loans in just 19 months, which wouldn’t have been possible if we had not refinanced our student loans. Refinancing allowed us to reduce our 6.8% interest rate that we had on our student loan debt. And, we got a cashback bonus as a plus!  

Remember:  Unlike mortgages where fees are applied, you can refinance multiple times as you want to reap the rewards of the cashback bonuses mentioned below.  

Below you will find companies that will help you Refinance Student Loans. I provide Pros and Cons for each.  The cashback bonus is listed at the top of each company’s section.

If you aren’t sure whether you should refinance I’ve made a post  you should read BEFORE you refinance.  Otherwise, look around below and get the best interest rate with the best cashback bonus!  

Posts on Refinancing Student Loans :

Cash Back Deals on Refinancing:

Commonbond $550 back to you

commonbond refinance


  • If you are in trianing, they will consider your future attending paycheck if you have a contract in hand in the last 12 months in training. 
  • Great protection for your loans (strong language on discharge of loans with death or disability).
  • CB allows you to consolidate with your spouse’s loans.
  • Refinance for a Good Cause: Every loan that is refinance pays for one year of education for a child in Ghana. Commonbond has financed over educations for over 5,000 children already.

Con’s: Resident refinancing is only available in last 12 months of training. Interest accrues during that last year.


SoFi: 0.125% Interest Rate Reduction

*While not a cash back offer, this deal is actually pretty sweet.  Let’s look at the average medical student loan debt to see why.  If you have $200,000 in student loans each year, and your rate is reduced by 0.25% that saves you $250 per year (that’s $750 over three years).  Have $300,000?  Make that $375 per year.


  • First to refinance federal and private
  • First to receive AAA rating from major rating agency)
  • Cannot consolidate loans with spouses
  • Refinances loans in training, and they will also refinance through fellowship (up to 54 total months per website). (Low $100 monthly payment during residency refinance while your debt grows at a substantially lower rate than it was before. Also, interest will not compound while in residency it will capitalize at the end of residency).


  • You cannot consolidate loans with your spouse
  • Residents must be within four years (54 months total for refinance) of becoming an attending physician.


Laurel Road: $320 back to you


Laurel Road Refinance

  • Resident refinancing: you pay low $100 monthly payment. Remains in effect throughout residency regardless of the length of training.  Interest does not capitalize while a resident.
  • Can continue these monthly payments for six months after residency (though, we recommend you use a resident refinance ladder to get a lower rate!). 
  • This is the only resident program that is offered via a bank, which means it is backed by the FDIC.


  • Do not offer a 5 year rate; starts at 7 years.
  • Max loan amount of $500,000.

Splash Financial Bonus varies ($300 for loans >$30,000) see below:


  • Resident Refinancing: Lowest monthly payment of any resident refinancing programs (only $1 per month). No monthly capitalization during training. Longest low payment period during training; for up to 84 months (7 years) of training. Also, extends to fellowship. Loans discharged on death in resident product (but not attending product below).


  • Often higher rates, but everyone gets the same.
  • Minimum FICO of 700 for solo applicants (670 with co-signer; co-signer release after 12-months)
  • Max loan amount of $350,000.

Earnest ($300 bonus for you)

Refinance with EarnestPro’s

  • Most flexible payment schedules (not strict 5, 7, or 10-year contracts like other companies)
  • Competitive Rates


  • No resident refinance product at this time
  • Earnest can lend in all states except DE, KY, NV.
  • If you are a resident in AK, IL, MN, NH, OH, TN, and TX – they can only offer fixed rates.
  • Cannot consolidate with spouse’s loans

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