Student Loan Refinancing
Your Way
Refinancing student loans could save you thousands with the right repayment plan. Go ahead, empower a brighter future and start saving today. We know student loan refinancing and we'll make your journey easy with our dedicated personal loan advisers.
Our customers have reported that they are saving an average of $309 every month and should see an average of $20,936 in total savings after refinancing their student loans with Education Loan Finance.*
* Average savings calculations are based on information provided by SouthEast Bank/ Education Loan Finance customers who refinanced their student loans between 8/16/2016 and 10/25/2018. While these amounts represent reported average amounts saved, actual amounts saved will vary depending upon a number of factors.
Refinancing Student Loans is Simple
Want a smarter way to manage your student loans? We have many student loan refinancing repayment plans to select from. We offer plans that allow you to achieve your goals. It only takes a few minutes plus you’ll have a personal loan advisor dedicated to you every step of the way.
Pre-qualification does not affect your credit score.
Pre-qualification
See personalized savings in as little as 2 minutes.
Apply
Explore options and choose which plan has the best rates, terms and payments for your needs.
Upload & Sign
Upload screenshots or smartphone photos of your documents, then sign your paperwork electronically!
Why Refinance With Us?
Some of the Lowest
Rates Available
We offer some of the lowest rates because we believe in rewarding financially responsible borrowers
Expertise That’s Second
to None
Our team has over 30 years of expertise in student lending
Fast and
Easy Process
In just a few minutes, you’ll find personalized options available only to you
Personal Loan Advisors
Personalized service to guide you every step of the way
Service Coast to Coast
We lend across the entire US and Puerto Rico
Student Loan Refinancing Calculator
Place your student loan information into the student loan refinance calculator and check out the possible savings.*
*The calculated monthly payments and savings are estimated based on the loan information you entered and the loan term you selected. Your actual payments will depend on the exact amount of your loan balance, and specific rates are subject to approval. Variable rate loans are based on the three-month LIBOR index and may change monthly. Changes in the LIBOR index may cause your monthly payment to increase. Although the interest rate will vary after you are approved, the interest rate will never exceed 9.95% APR.
Affordable Rates & Flexible Terms for Student Loans
We have no application fees, no loan origination fees and no penalty for paying off your loan early.
Loan Amounts From
$15,000
And Up*
Rates From
2.80% APR
Variable
3.39% APR
Fixed
Terms From
Student Refinancing
5-20 year
Parent Refinancing
5-10 year
* The interest rate and monthly payment for variable rate loans may increase after closing. Your actual interest rate may be different from the rates shown above and will be based on the term of your loan, your financial history, and other factors, including your cosigner’s (if any) financial history. For example, a 10 year loan with a fixed rate of 6% would have 120 payments of $1,100 per $1,000 borrowed. To qualify for refinancing or student loan consolidation through Education Loan Finance, you must have at least $15,000 in qualified student loan debt and must have earned a bachelor’s degree or higher from an approved post-secondary Education Loan Finance institution. Education Loan Finance Parent Loans are limited to a maximum of the 10-year term.
Frequently Asked Questions
Student loan refinancing is the process of combining one or more federal and private student loans into a single loan with new terms, including a new (hopefully lower!) interest rate, monthly payment amount, and/or repayment length. The Federal Student Loan Consolidation program similarly combines only your federal loans into one payment, but it uses a weighted average of all of your interest rates, and it does not offer consolidation of any student loan debt obtained from a private lender.
Any student loan debt that was used for financing your education from an approved post-secondary institution, such as SouthEast Bank private loans, private student loans from other lenders, or your federal student loans, i.e. Stafford loans, Grad PLUS, Parent PLUS, etc., can be consolidated into one loan through Education Loan Finance. No other consumer debt, such as credit card, auto, or mortgage, can be included even if it was used to pay education expenses. Keep in mind that if you consolidate federal student loans, you may lose some alternative repayment plans associated with the federal government loan program.
Education Loan Finance may require a co-signer if you do not qualify based on your own credit, income, or debt-to-income ratio. We also offer co-signer release, which releases any co-signers from your existing student loans if you qualify for an Education Loan Finance loan based on your own credit history.
If you only have a couple more years or a few thousand more dollars to go until you pay off your student loans, refinancing may be more hassle than it’s worth. Switching to a new lending institution may eliminate any benefits you’ve earned over the years, so thoroughly investigate how consolidating or refinancing your student loans will change the terms of your existing student loans. To learn more about refinancing and consolidating your loans, check out this blog post with information on topics that might require a second look during the process.
