Are you a candidate for student loan consolidation? Student loan debt can be crippling for students who’ve spent years in school, especially for students who struggle to find good-paying jobs right away. Thanks to these consolidation loans, college graduates can reduce how much they owe each month and even save money by paying off their loans faster. You can consolidate your loan into one monthly payment and lower your interest rate at the same time all while protecting your credit score and paying down your loan debt. Below you will find the top three venues (SoFi, DRB, and Earnest) to aid in beginning your exploration of consolidating your student loans.

Top Venues For Student Loan Consolidation

  • SoFi (Social Financial)
  • DRB (Darien Rowayton Bank)
  • Earnest

SoFi Social Financial Ranked Number One

SoFi (Social Financial) is a financial institution that has been established to help students make their loan repayment easier by lowering interest rates as well as consolidating what may be many loans (both private and federal loans) into one loan. This venue is ranked as the preeminent financial venue is because of their great customer service. The institution has capitalized on today’s trending social media to make the customers experience a gratifying one. SoFi members have the added benefit of receiving career counseling from qualified SoFi staff. Members must have actually graduated from an undergraduate or graduate program. SoFi has a listing of qualifying degree programs. To encourage diligence in making timely payments, SoFi has taken much of the burden off of the members by offering auto pay. Under auto pay the fixed interest rates vary from 3.38% - 6.74% annual percentage rate (APR). Auto pay customers enjoy variable rates at SoFi as low as 2.34% to 6.27% (with a maximum of 8.95% to 9.95% APR respectively).


  • SoFi offers fixed interest rates from 3.38% - to 6.74% APR and variable interest rates from 2.34% to 6.27% APR (auto pay customers).
  • SoFi consolidates and refinances student loans for both the federal and private loans you may have.
  • It is a requirement for SoFi members to have graduated with a graduate or undergraduate degree. SoFi determines which programs are eligible for inclusion.

Darien Rowayton Bank

The Darien Rowayton Bank (DRB) is another great place to get on the fast track toward paying off your student loans. Among the many exciting and useful programs that they offer the DRB attempts to make using their financial services easier by offering online applications and varying repayment terms. Members have no prepayment penalties so if you are able to pay off your loan at a faster rate than was originally agreed upon you are not penalized. The DRB offers a multitude of repayment terms from as long as 20-year repayment programs and as short as 5-year repayment plans. Parents can breathe a sigh of relief along with their students as you are allowed to refinance or consolidate your loans for your child’s education.


  • The Darien Rowayton Bank has 5, 7, 10, 15 and 20-year term repayment programs.
  • Parents who have procured Parent PLUS loans or other types of loans and have a student who has graduated and is employed are allowed to become members of the DRB.
  • DRB features no penalty for prepayment.


At the risk of sounding sappy, Earnest earnestly endeavors on the behalf of their customers to make student loan repayment as simple and flexible as possible. Young college graduates find themselves unemployed unexpectedly for many reasons. Earnest will cease payments on the loan while you are unemployed. If circumstances dictate that you must refinance your loan, change from a variable rate to a fixed rate or change payment due dates, Earnest will accommodate your needs. The staff at Earnest wants you to hold them to their promises. Your loan will never be purchased by a third party. Earnest will remain your servicer throughout the duration of your student loan.


  • Earnest offers a halt of payments while you are temporarily unemployed.
  • Your loan is never transferred to a third party.
  • Earnest members are allowed to refinance from a variable rate to a fixed rate APR.


You’ve worked hard to make the grades to receive your college degree. College graduate you are now armed with more information than ever before regarding how you can get on top of your student loans. Consolidating and refinancing your loans is a step toward being debt free.