Why Refinance?

Several factors can determine your interest rate, and you may qualify for a decreased interest rate when you refinance your student loans. Lower interest rates may reduce your monthly payments, saving you money over the life of your loan.

You may also wish to change the interest type of the loan. For example, if you had a variable rate loan before, you could select a fixed interest rate when you refinance.

Keeping up with student loans from multiple lenders can be complicated, but you’ll have the opportunity to consolidate them when you refinance. If you have both private and federal loans, you’ll be able to refinance just the loans you choose.

Select which loans you want to refinance and which you don’t – it’s up to you. If you choose to refinance all your loans, you’ll only make one payment per month.

With refinancing, you can choose a new repayment term length. Changes to your loan terms will impact the monthly payment. For example, shorter loan terms often generate lower interest rates, which can save you more throughout repayment. If you qualify for the refinanced loan on your own, you can also remove your cosigner from the original loan when you refinance.