Student Loan Refinancing
What to Consider When Refinancing
What Is Student Loan Refinancing?
Refinancing lets you replace your existing student loans with a new one at a lower interest rate or better terms. It can help you save money over the life of the loan.
Who Should Refinance?
If you have high-interest loans and a good credit score, refinancing could lower your monthly payments and reduce the amount of interest you pay over time.
Benefits of Refinancing
Refinancing may:
- Lower Your Interest Rates: Securing a lower interest rate can significantly reduce your total loan cost.
- Reduce Monthly Payments: Adjust your loan terms to make your payments more manageable.
Risks of Refinancing
Keep in mind that refinancing federal loans into private ones means losing federal protections, such as:
- Income-Driven Repayment Plans
- Public Service Loan Forgiveness
Learn More
Who Should Refinance Their Student Loans?
Find out whether refinancing is the right move for you.
Learn moreTips for Refinancing at the Lowest Rates
Practical ways to capture the benefits of a lower rate.
Learn moreRisks of Refinancing Student Loans
What you give up when you refinance federal loans.
Learn more