SuperMoney Student Loan Refinance Review

Our Rating: C+ (Compare)

SuperMoney is a financial marketplace where users can compare business loans, personal loans, credit cards, banking, at mortgage services from various direct lenders. Founded in 2013, the platform launched a student loan refinance marketplace in November 2018. SuperMoney is popular for its Yelp-style aggregator.

Loan Limits $5,000 – $1,000,000
Fixed Rates Undisclosed
Variable Rates Undisclosed
Terms 3 to 20 years
Min. Credit Score 660
Apply Link

*Lowest rates may include an interest reduction for enrolling in auto-pay, up to 0.25%.

Skip to: Rates & Fees | Eligibility Requirements | Repayment Options | Consumer Reviews & Complaints | FAQ

Loan Refinancing Options
Private student loans
Private parent loans (in either name†)
Federal student loans
Federal Parent PLUS loans (in either name)

Parents may refinance in their own name or transfer debt to a child.

SuperMoney Refinance Rates & Fees

SuperMoney does not disclose minimum or maximum APRs. Fixed APRs are advertised as low as 3.29%; advertised lenders’ highest fixed rates are as high as 10.68%. SuperMoney features lenders with starting variable rates as low as 2.48% and as high as 9.00%. Lowest advertised rates may include an interest reduction for enrolling in auto-pay, up to 0.25%.

Additional information about SuperMoney refinance rates:

  • Checking your rate with SuperMoney will not affect your credit score. They will conduct a soft, not hard, credit inquiry (learn the difference).
  • SuperMoney does not offer a discount for setting up auto-pay but some of its lender partners do (up to 0.25% interest rate reduction).
  • Variable rates may be based on any number of interest rate (indices. As the lender’s chosen index changes, increasing or decreasing, your variable rate will change, increasing or decreasing correspondingly.
  • No variable rate cap disclosed.

Student Loan Refinancing Calculator

Based on advertised rates, use the calculator below to determine what your new monthly payment and potential savings may be if you refinance with SuperMoney.

Additional Fees

SuperMoney does not charge a fee for submitting an application on its lender comparison platform. There are a number of fees, however, that a refinance lender may charge up-front or during the loan servicing period. SuperMoney is not responsible for any subsequent fees or charges from your direct lender.

Fee Type Amount Charged
Application Fee None
Loan Origination Fee Not Applicable
Disbursement Fee Not Applicable
Prepayment Penalty Not Applicable
Late Payment Fee Not Applicable
Returned Payment Fee Not Applicable
Collection Fee Not Applicable
  1. Application fee – fee to apply for rates & approval.
  2. Loan origination fee – fee to create the new loan.
  3. Disbursement fee – fee for distributing funds to lenders to pay off loans that have been refinanced.
  4. Prepayment penalty – fee for making extra payments to reduce a refinance loan balance or pay it off early.
  5. Late payment fee – fee for making a late payment.
  6. Returned payment fee – fee for failed payments due to insufficient funds, also known as a “bounced check”.
  7. Collection fee – fee for collection activity on a defaulted debt.

Current Promotions & Offers

SuperMoney does not appear to have any active promotions or special offers at this time. Direct lenders in their network, however, may have their own promotional offers available.

SuperMoney Refinance Eligibility Requirements

To qualify for refinancing through SuperMoney, all borrowers must meet the criteria below.

  • Citizenship Requirement: U.S. citizenship or permanent residence.
  • Income Requirement: 40% maximum debt-to-income ratio (DTI).
  • Credit Score Requirement: 650 minimum credit score.
  • Graduation Requirement: must have completed the student loan-funded program.
  • Location Requirement: availability extends at least to all 50 states and Washington, D.C.

Additional restrictions apply for specific individuals and loans.

  • Some lenders may require a minimum credit score of 700.
  • Some lenders may limit the maximum allowable DTI to 35%.
  • Graduation, location, income requirements, and other restrictions may vary.

SuperMoney Student Loan Repayment Options

Lenders vary greatly on the benefits and options provided to borrowers during the loan servicing period. Additionally, benefits may only be available on a case-by-case basis. Some of the lenders featured on SuperMoney’s website offer debt relief options, such as income-based payment plans, unemployment protection, or temporary deferment.

Deferment & Forbearance

SuperMoney does not have any control over conditions for deferment or forbearance. Contact your direct lender or loan servicer to learn about your options.

Common reasons for deferment include a return to grad school, active military duty, involuntary unemployment, natural disaster, and disability rehabilitation.

Additional Options

Lenders found on the SuperMoney platform may offer other opportunities for relief or contract modification.

  • Co-signer release is available from some lenders.
  • Death / disability discharge may be available in the unfortunate circumstance that a borrower passes away or suffers total permanent disability.

SuperMoney Reviews, Complaints & Lawsuits

Beyond our own findings, our team also collected the most genuinely insightful customer experiences we could find, including any instances of legal action against the company in which the details became public.

SuperMoney Online Reviews

There appear to be few samples of SuperMoney customer reviews available on public forums. SuperMoney’s student refinance lender marketplace is relatively new. Additionally, the platform includes a review aggregator.

Unfiltered customer reviews of SuperMoney are available at (4.9 out of 5). Note that these reviews are unverified, may include inaccuracies, and may provide outdated information (about rates, bonus offers, etc.).

SuperMoney CFPB Complaints

As consumer finance companies, student loan refinancing lenders fall under the jurisdiction of the Consumer Financial Protection Bureau (CFPB), a federal agency. As part of their mission, the CFPB allows consumers to log official complaints. These complaints are publicly available on the CFPB official website.

SuperMoney, LLC is not listed in the CFPB complaint database. To search the database for “supermoney”, click here.

SuperMoney Lawsuits

SuperMoney does not appear to be subject to any recent litigation.

Note that while this information is updated regularly, ongoing legal action is subject to change.

Frequently Asked Questions

These are the most common questions consumers have about student loan refinancing with SuperMoney.

  • Is SuperMoney good for refinancing student loans?
    SuperMoney may be useful for finding a student loan refinance lender; SuperMoney does not provide refinancing services.
  • Does SuperMoney have a minimum credit score required to refinance student loans?
    The minimum disclosed allowable credit score is 650.
    • Are loans through SuperMoney federal?
      Any lenders you find through SuperMoney’s lender marketplace do not provide federal loans and have no affiliation with the federal government or the U.S. Department of Education.
    • Does SuperMoney charge a prepayment penalty?
      SuperMoney does not charge fees if you make early payments or repaying a loan in full before its term is over. Direct lenders or loan servicers, however, may charge such fees.
    • Does checking your rates with SuperMoney hurt your credit score?
      For its prequalification process, SuperMoney performs a soft credit check, which will not hurt your credit score. If you proceed with an application, however, a direct lender will require a hard credit check that may affect your credit score.
    • Is SuperMoney a bank?
      SuperMoney is neither a bank nor a lender but an online financial marketplace platform designed to speed up the application process.
    • Can I refinance a SuperMoney loan?
      You can refinance SuperMoney student loans, student loans from another private lender, and federal loans. There is no limit to the number of times a borrower may refinance with SuperMoney. Note, however, that every new line of credit requires a hard credit check that may affect your FICO score.
    • Can I refinance just some of my loans with SuperMoney?
      Yes, you can refinance some, all, or just one of your qualifying student loans with SuperMoney. You may choose to refinance your private loans only or refinance private and federal loans together.
    • Can I refinance loans that have already been refinanced?
      Yes, you can refinance loans as many times as you want with SuperMoney. Note that each time you refinance, you will have to submit a new application; every application requires a hard credit check that may affect your credit score.

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  1. SuperMoney, Student Loan Refinance
  2. SuperMoney, Save Thousands on Your Student Loans
  3. Finovate, SuperMoney Launches Student Loan Refinancing Marketplace
  4. Dun&Bradstreet, Supermoney, LLC
  5. Consumer Financial Protection Bureau, Consumer Complaint Database
  6. Dun & Bradstreet, Business Directory: Supermoney, LLC
  7. Better Business Bureau, Search Businesses and Charities