Yrefy reviews seem to provide hope if you’ve defaulted on your private student loans and feel like there are no options. If you’re struggling, you’re not alone. The Federal Reserve states that roughly 16% of student loan borrowers are behind in their payments. However, regarding Yrefy, there’s more to the story and we have some concerns.
Yrefy claims to offer support to borrowers that most lenders won’t touch, specifically those with defaulted or severely delinquent private student loans. But behind the promises are some issues you should know about before moving forward.
It’s not all bad news. In fact, if you have student loans in default, Yrefy is a legitimate option. In this review, we’ll cover the pros and cons of refinancing with Yrefy, how it compares to other lenders, and what to watch out for in terms of fees and fine print.
Here’s what you need to know if you’re in a tough spot with your loans and are considering Yrefy as an option.
Pros
Refinances defaulted private student loans
Considers more than just your credit score for approval
Low advertised fixed interest rates
Skip up to 12 payments over the life of the loan
Reports payments to all three major credit bureaus
Cons
Multiple fees apply
Not available for federal student loan refinancing
Available in only 37 states
o online applications / Must speak with a rep
Has no comparison tools or instant quotes
Unclear fee disclosures and vague loan terms on the website
Yrefy Student Loan Refinancing Features and Benefits
Part of what makes Yrefy unique is its ability to help borrowers in challenging loan situations. Rather than focusing on borrowers with stellar credit, Yrefy deals with helping those who’ve defaulted on private student loans.
However, it doesn’t offer any solutions for those struggling with federal student loans. Using private funding, Yrefy creates customized refinance solutions for borrowers and claims to help rebuild credit by reporting to all three credit bureaus.
- Fixed interest rates advertised between 1% and 5.99% (However, it later lists 8% on its webpage)
- Skip up to 12 payments with the SKIP-12 program (qualification required)
- Offers interest-only and standard repayment plans
- Reports to Experian, Equifax, and TransUnion
- No cosigner required
- Minimum refinance amount is $5,000
- Maximum refinance amount is $350,000
Yrefy Reviews: Editorial Rating
Trusted Company Reviews Rating Score for Yrefy: 7.1
Yrefy’s mission is admirable, if not a little on the shady side. But, if you’ve been turned down by other refinancing lenders, it may be one of just a few paths forward. Yrefy earned solid marks based on our rating criteria, including accessibility and solid customer service. However, we still have several noteworthy concerns.
Most significantly, Yrefy lacks transparency about its fees and loan structure. While the company claims to offer rates as low as 1%, it does not provide a way to check your personalized rate online, and it doesn’t disclose critical information like APR ranges, repayment examples, or detailed eligibility requirements.
This lack of clarity makes it difficult for borrowers to compare Yrefy against other lenders, or to understand what they’re signing up for. There’s a clear difference between Yrefy and lenders that made their way onto our overview of the best student loan refinancing providers.
Refi loan terms | 3 to 15 years based on approval |
Repayment options | Skip up to 12 payments through the course of the loan. |
Loan amounts | $5,000 to $350,000 |
About Yrefy Student Loan Refinancing
Founded in 2017 and headquartered in Phoenix, Arizona, Yrefy has positioned itself as a solution for borrowers who can’t make ends meet regarding their private student loans. The company caters specifically to people who are no longer eligible for traditional refinancing due to defaulted private loans or poor credit history.
Yrefy uses private investors and institutional capital rather than banks or federal backing. This gives them more flexibility, but it can also mean there’s less oversight or standardization. Every loan is customized based on the borrower’s situation, and many customers report being assigned a personal representative who guides them through the process.
For those who’ve exhausted other options, Yrefy can be a lifeline. However, for borrowers with good credit or federal loans, there are more transparent and affordable choices available.
Are There Hidden Fees?
Yrefy company buys distressed loans at discounted prices from private lenders and can therefore offer low rates, as much of its revenue comes from the purchasing and refinancing process. You’ll still owe your entire balance while Yrefy pockets the difference. This is also the reason Yrefy only offers refinancing of private-lender loans and not federally-backed ones.
Yrefy offers a free consultation, but beyond that, information about costs is murky. The website and documentation do not clearly outline what borrowers will ultimately pay during or after setting up the loan. In fact, even its website homepage lists 5.99% as the highest APR. However, we found it lists 8% as the highest deeper in the provided FAQ section on the site. Based on borrower reviews and third-party reports, these are fees you may encounter:
- Application fee
- 5% Loan origination fee
- Disbursement fee for distributing funds to your lenders
- Late and returned payment fees
- Added collection fees if you fail to pay Yrefy
Borrowers should ask for a complete list of potential charges before signing anything.
Is Yrefy Legit?
Yrefy is a real company and is accredited by the Better Business Bureau with an A+ rating. It’s been in business since 2017. However, several red flags suggest borrowers should proceed with caution.
First, Yrefy advertises ultra-low rates, starting at 1%, but offers no detailed breakdown of how those rates are calculated or who qualifies. The company claims to overlook your poor credit score if necessary and rely on other metrics to get you approved.
Additionally, there’s little mention of any other fees or fine print to be aware of, making it difficult to evaluate the total cost of borrowing from Yrefy or comparing it to others to make an informed decision.
While Yrefy is legitimate, it is not transparent. Borrowers should request every detail in writing and ensure they understand the loan and its structure before making a commitment.
Yrefy Reviews
Yrefy reviews are mixed and depend on where you look. On the Better Business Bureau website, the company maintains an A+ rating with a low to moderate number of complaints, most of which relate to communication or billing confusion.
On Trustpilot, Yrefy’s profile features an average 3.2-star rating, which is lower than many competitors.
Positive reviews cite the company’s willingness to help when no one else would. Many reviewers say Yrefy helped them get out of default, rebuild their credit, and avoid collections.
However, negative reports mention unclear communication, unexpected fees, and difficulty accessing support after signing the loan.
Yrefy Student Loan Refinancing Alternatives
Yrefy may be one of the few lenders helping people with defaulted private loans, but it isn’t the right solution for everyone. Borrowers with good credit, stable income, or federal loans will likely find better terms and lower costs elsewhere.
Credible is a great starting (and ending) point for comparison shopping. It allows borrowers to view offers from multiple lenders. ELFI stands out for low interest rates and strong customer service.
MEFA and RISLA have excellent customer service relations and provide clear terms and transparency. Citizens Bank provides flexible refinancing options and cosigner release programs for those who qualify.
Each of these providers appear in our review of the best student loan refinancing providers.
Frequently Asked Questions
Does Dave Ramsey recommend Yrefy?
Is Yrefy a reputable company?
Source
Logo image source: yrefy.com

Deane Biermeier
Editorial Reviews
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