Teachers and nurses carry significant student debt but also have unique access to forgiveness programs. This guide covers when refinancing makes sense — and when it doesn't — with top picks from SoFi, Earnest, and Achieve.
Teachers and nurses are in a strange spot with student loans. You carry meaningful debt — the average nursing graduate owes around $40,000, and teachers often similar — yet you work in fields with the highest public service potential. That creates a real fork in the road.
Before we get to the picks, a critical warning: refinancing federal loans with a private lender removes you from Public Service Loan Forgiveness (PSLF), Income-Driven Repayment (IDR) plans, and other federal protections.1 If you're pursuing PSLF (10 years of qualifying payments while working for a government or nonprofit), do not refinance your federal loans. This guide is for those who have already decided to refinance — typically because they have private loans, high income relative to debt, or no intention of pursuing forgiveness.
Here are the three best refinancing options for teachers and nurses right now.
SoFi is the most well-rounded option. They offer competitive fixed and variable APRs, no fees, and a suite of member benefits (career coaching, financial planning, networking events) that are genuinely useful for early- and mid-career professionals.2 Crucially, SoFi does not require a bachelor's degree to refinance — which matters for nurses with associate degrees (ADN) or teachers with alternative certifications.1
They also offer unemployment protection: if you lose your job, they'll pause payments and help with job placement. For professionals in fields with stable but sometimes tight budgets, that's real peace of mind.
Earnest stands out for customization. You can choose your exact monthly payment amount (within limits), pick between fixed and variable rates, and set bi-weekly payments to accelerate payoff.2 They also let you skip one payment per year, which is handy when unexpected expenses hit.
Earnest's rates are consistently among the lowest in the space, and they offer a 9-month grace period after graduation before payments begin — longer than most competitors.2 If you're a teacher or nurse who wants to aggressively pay down debt on your own terms, Earnest is the best fit.
Not everyone qualifies for the top-tier rates at SoFi or Earnest. Achieve (formerly FreedomPlus) is more accessible for borrowers with fair credit who still want to consolidate and lower their rate.2 They offer fixed rates only (no variable), which is actually safer in a rising-rate environment, and they allow you to refinance with a co-borrower to improve your chances.
Their rates are slightly higher than the top-tier lenders, but they're still well below typical federal PLUS loans or private loan rates. For nurses or teachers early in their career who haven't built a strong credit history yet, Achieve is a solid path forward.
| Feature | SoFi | Earnest | Achieve |
|---|---|---|---|
| APR Range | 5.24%–9.99% (fixed) | 4.99%–9.74% (fixed) | 5.99%–10.99% (fixed) |
| Repayment Terms | 5–20 years | 5–20 years | 5–15 years |
| Credit Minimum | 650+ | 660+ | 620+ |
| Degree Required | No | Yes (bachelor's) | No |
| Unique Perk | Unemployment protection | Skip 1 payment/year | Co-borrower allowed |
APR ranges are approximate as of early 2025 and depend on creditworthiness.2
This is the most important decision you'll make. Here's the breakdown:
Refinance if:
Do NOT refinance if:
Teachers and nurses working for qualifying employers (public schools, nonprofit hospitals, government agencies) should run the PSLF numbers first. If you're 2+ years into PSLF payments, refinancing is almost certainly a mistake.1
SoFi is our top pick for most teachers and nurses because it combines competitive rates with no degree requirement and strong member benefits. Earnest is better if you want maximum flexibility to customize payments. Achieve is the fallback if your credit needs work.
Disclosure: AskBuy earns a commission if you click through and apply for a loan via the links above. This does not affect our recommendations — we only feature lenders we believe are genuinely strong options for this audience.
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