Refinancing Your Veterinary School Loans

Know the private lenders who can help you with refinancing your veterinary school loans, ideal conditions to refinance and why should you consider refinancing.

Updated by Anuroop C on 16th October 2020

It is an amazing achievement if you finished your veterinary school with flying colors. But now comes the repayment journey where you have to deal with the outstanding dues from your veterinary school, which includes dealing with school loans. Veterinary school loans can be nerve-wracking. 

And to anybody who knows about veterinary school loans, refinancing your veterinary school loans makes no sense, as there are many forgiveness and loan repayment programs offered by different states to medical professionals. But the average student loan debt for a veterinary school is around $140,000.

So there should be strategic ways in which a veterinary student can be dealt with. 

But before that, let us understand when you should refinance veterinary student loans.

Table of Contents

Top 5 lenders offering veterinary student loans refinance

If you are looking to refinance your veterinary student loans, the list below can help you. 



Variable Rate

Minimum-Credit Score

Figure Student Loan Refinance

3.25% - 6.75%

2.06% - 6.81%


Education Loan Finance Student Loan Refinancing

3.14% - 6.69%

2.39% - 6.01%


College Ave Student Loan Refinancing

4.54% - 11.98%

2.84% - 10.97%


Penfed Student Loan Refinance

3.48% - 6.03%

2.32% - 7.06%


PNC Student Loan Refinancing

4.39% - 6.59%

4.39% - 6.59%


Figure Student Loan: To qualify with figure student loans you must have a credit score of 680 FICO credit score. The figure does not accept cosigners. In the case of financial hardships, you can avail of deferment or forbearance options. Though they earlier had many student loan complaints at BBB, there were no complaints received in the year 2019 about Figure lending.

Education loan finance: Education loan refinance has recently been introduced in the refinancing market. They provide competitive interest rates and offer an Education loan finance referral program. They take 0 application or origination fees for refinancing purposes.

Learn more about Education Loan Finance (ELFI) Reviews

College Ave Student Loan Refinancing: College Ave offers student loans and student loan refinancing. The refinancing option is available for graduates having both federal or private student loans. They are known to provide low variable interest rates. In cases of any temporary financial crisis, you receive the forbearance program from College Ave.

Learn more about College Ave Student Loan Refinancing Review

Penfed: is a federal credit union that was found in 1935. Penfed does not directly offer student loans but they offer to refinance. The APR you receive purely depends on your credit score. They provide cosigner release, deferment and forbearance, and other repayment options.

Learn more about PenFed Student Loan Refinance Program

PNC: They are known to be one of the largest leading banks in the US. 
PNC is the largest lending bank in the US. Services like adjustable repayment terms, good interest rates, and so on are provided by them. Autopay option helps you deduct 0.50%. from your interest rates.

Learn more about PNC Student Loan Refinancing Service

Looking for student loans? Find the best student loans for you.

When to consider refinancing your federal school loans?

Make sure that you consider all the options that are available for a medical professional. Medical professionals have several options that the state and the federal repayment programs provide like the forgiveness programs. While refinancing, you will also be giving up your Income-Driven repayment plans such as PAYE, REPAYE, and ICR, etc. But if you are earning well and want to pay off your student loans, then refinancing is going to be a good option for you. Even if you do not want to associate with the repayment programs (as they require working under special conditions) and think you can pay off your student loan amount, then refinancing your student loans can be a good option for you. And if you do not plan to pursue the PSLF (Public Service Loan Forgiveness) program, then refinancing can be a good option for you.

You should consider only refinancing your private student loans, in case you have both private and federal student loans.

                                    Looking to refinance your student loans? Find the best student loan refinance lenders

Conditions for refinancing your veterinary school loans

The conditions for you to be eligible for refinancing are the same as that for refinancing your student loans. The list is as follows:

Good credit score

You need to have a good credit score to refinance your veterinary school loans which are usually around 700 and above is preferred for refinancing your student loans. You can read more about building your credit score and check out your options if you have bad credit. Credit score plays an important role if you decide to refinance your loans. Higher the credit score, the lower the interest you qualify for. In certain situations, you can seek help from a cosigner who has a good credit score to help you refinance for lower interest rates. 

Good Debt-to-Income ratio

A very good debt to income ratio is what your refinancing lender looks at when you are considering to refinance your student loans. Having a higher DTI ratio will increase the interest rate that the lender is going to allocate to you while refinancing your student loans.

Make sure that you owe only 1.5 times more than the amount you make annually. If you owe more than 2 times the amount you make, you usually have a very hard time finding a suitable lender. 

To conclude this topic, we recommend that you consider knowing all the options that are available for you and the options that you will be missing out on. Refinancing student loans can be of concern, so make sure that you know everything about student loan refinancing and also research all the best companies to refinance your student loans. You refinance your student loans only to decrease your monthly payment amount or to decrease your total paying amount. So make sure that you are achieving all the goals when you are refinancing your veterinary student loans. 

Other blogs you may be interested in: 

Student Loans for Veterinary School

Veterinary Student Loan Forgiveness

Student Loan Forgiveness and Repayment for Military and Veterans