Refinance Student Loans
Save thousands by refinancing through credit unions and community banks that prioritize people over profits. 1 See how it works.
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See real time rates without hurting your credit score.
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SAVINGS OF OVER3
$15,000
RATES AS LOW AS4
2.14%
3.25%
SAVINGS OF OVER3
$15,000
RATES AS LOW AS4
2.14%
3.25%

How It Works

Finding the right loan can be time consuming, and confusing. That's why we've simplified the process using a single platform that allows you to find, customize, and fund your loan through our network of credit unions and community banks.



LOWER YOUR PAYMENTS

You can reduce your interest rate, lower your monthly payments, and save thousands over the lifetime of your student loans.


SIMPLIFY YOUR FINANCES

You'll be able to refinance your federal and private student loans, including graduate loans, into one convenient loan at a great rate.1


FLEXIBLE REPAYMENT TERMS

Get personalized quotes with various repayment terms, including interest-only payments for the first four years.


NO HIDDEN FEES

Refinancing student loans through LendKey means no origination fees or penalties for making extra or early payments!

Refinancing Calculator

Our fast and easy student loan refinancing calculator lets you plug in your remaining balance and existing monthly payments so you can quickly figure out whether refinancing your student loans can improve your finances.

See whether refinancing student loans is right for you. You can save over $10,500
REFINANCE NOW

WHY REFINANCE STUDENT LOANS?

Depending on how long you’ve been out of school, your annual income and credit history is likely to have improved. By refinancing your existing student loans you may see a dramatic reduction in your interest rate – even a few points. With only a few exceptions, it is generally advisable for all student debt holders to at least explore a refinancing scenario, especially since getting your rate through LendKey’s platform will have no impact on your credit score.

OUR GUIDE

VARIABLE RATE vs FIXED RATE STUDENT LOANS

Student Loan Refinancing: Variable vs Fixed Rate

Whether you choose a fixed or variable rate, it’s always important to remember to pick a loan that is right for you and your particular financial situation. Remember that interest rates could rise higher than the past highs. If you’re comfortable assuming a little more risk in your payment amount, a variable rate loan does have the potential to offer more savings.

LEARN MORE

FEDERAL AND PRIVATE STUDENT LOANS

Consolidate Federal and Private Student Loans5

With LendKey’s student loan consolidation and refinancing, you can combine your federal and private student loans into one convenient payment with a lower interest rate. That could help you better manage your finances, and save over the lifetime of your loan.

HOW IT WORKS

WHY REFINANCE STUDENT LOANS?

Depending on how long you’ve been out of school, your annual income and credit history is likely to have improved. By refinancing your existing student loans you may see a dramatic reduction in your interest rate – even a few points. With only a few exceptions, it is generally advisable for all student debt holders to at least explore a refinancing scenario, especially since getting your rate through LendKey’s platform will have no impact on your credit score.

OUR GUIDE

VARIABLE RATE vs FIXED RATE STUDENT LOANS

Student Loan Refinancing: Variable vs Fixed Rate

Whether you choose a fixed or variable rate, it’s always important to remember to pick a loan that is right for you and your particular financial situation. Remember that interest rates could rise higher than the past highs. If you’re comfortable assuming a little more risk in your payment amount, a variable rate loan does have the potential to offer more savings.

LEARN MORE

FEDERAL AND PRIVATE STUDENT LOANS

Consolidate Federal and Private Student Loans5

With LendKey’s student loan consolidation and refinancing, you can combine your federal and private student loans into one convenient payment with a lower interest rate. That could help you better manage your finances, and save over the lifetime of your loan.

HOW IT WORKS

Frequently Asked Questions

When you consolidate student loans, you’re combining multiple loans together into one single loan, with one payment. You’re still paying the same total amount and same total interest. You now just have one loan instead of multiple loans.

When you refinance student loans you basically consolidate them into single loan with a new interest rate, new terms, and monthly payment amount. The lender will evaluate you and your creditworthy cosigner’s (if applicable) financial information to offer you a new low and a lower rate. Read about the differences between student loan consolidation and student loan refinancing to learn more.

If you want to combine your Federal and private student loans together, you have to do it through a private lender. The Federal Direct Consolidation Loan program does not consolidate private loans into Federal loans. However, many lenders in our network do allow you to combine your private and federal loans into one payment. This page breaks down what you need to know about consolidating and refinancing your federal and private student loans together.

The interest rate is simply the percentage of the loan amount that is charged for borrowing money. The APR reflects not only the interest rate, but also any other fees charged by the lender. The APR represents the total cost of borrowing and for that reason is usually higher than the interest rate.

While you may apply on your own, applying with a creditworthy cosigner can make all the difference when it comes to a loan application’s chances for success and approval—and even result in a lower rate. Find out all the benefits of applying with a cosigner in this blog post.

Some of our 15 year refinancing loans allow you to choose between a level and a graduated repayment option. With a level repayment you make the same monthly payment amount each month for 15 years. With a graduated repayment your monthly payments start lower for the first four years, and increase for the last 11 years. This may be a good option if you need a lower payment now, but expect to make more money in the future. Be aware that your payments will go towards interest only—not principal—in the beginning of the graduated repayment plan.

A fixed rate student loan is one that maintains the same interest rate on the loan for the entire life of the loan. A variable rate student loan is where the interest rate can adjust each month based on the current interest rates available. Whether you choose a fixed or variable rate, it’s always important to remember to pick a loan that is right for you and your particular financial situation. Remember that interest rates could rise higher than the past highs. If you’re comfortable assuming a little more risk in your payment amount, a variable rate loan does have the potential to offer savings.

Recent Customer Reviews of LendKey

1 - Terms and Conditions Apply

Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.

2 - Conditional Offers

In the event that you would like to move forward with any of the conditional offers, you will be required to complete an application with the lender on this website, at which point a hard credit inquiry will be conducted (which may affect your credit score).

3 - Calculator

The calculator above provides estimates based on the information provided and is for illustrative purposes only. Actual estimated payments can only be determined after you apply and provide all necessary documentation for review. We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances. We encourage you to seek personalized advice from qualified professionals regarding your specific financial situation.

The average savings ($15,278.99) assumes the refinancing of a $75,000 loan balance and the average interest rate received by borrowers who applied via LendKey.com between July 1 2015 and July 1 2016. The average savings is computed by taking the borrowers' estimated lifetime cost of the existing outstanding loans at an average rate of 7.38% and subtracting the estimated lifetime cost of the new refinanced loan obtained via LendKey.com. The calculation assumes (1) a 15-year loan term with no pre-payment made by the borrower, (2) a 0.25% interest rate reduction for enrolling in automatic payments (optional), (3) and a static interest rate (note: variable interests may move lower or higher throughout the term of the loan).

4 - AutoPay Discount

Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.

5 - Important Notice Regarding the Refinancing Of Your Federal Student Loans

Please be aware that you may potentially lose certain benefits associated with your federal student loans by refinancing such federal loans with a private student loan consolidation. These benefits may include favorable repayment options, loan and fixed interest rates, extended loan terms, and loan forgiveness. We strongly advise that you seek professional advice and examine our benefits and options before refinancing your federal loans. It is important to us that you are comfortable with potentially forfeiting benefits that may not be offered through our consolidation loan.

6 - Promotional Bonuses

If you were offered a bonus in connection with a promotional offer, your application must be initiated through this page immediately following the email or banner advertisement in which the offer was presented. The offered promotional bonus will be provided within four weeks of loan disbursement.

7 - Cosigner Release

Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower's credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.