Refinance Student Loans at Lower Rates

Our loans are funded by a network of credit unions and community banks that prioritize you over your wallet.
Variable Rate
5, 10 & 15 Year Terms
Whether you’re looking to lower your interest rate and monthly payment, or pay your loans off faster, this variable rate refinancing loan allows you to select a term that works with your goals.
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Fixed Rate
15 Year Term
Choose this 15 year loan if you’re looking for an interest rate that remains fixed for the entire term. This refinancing loan is funded by WSFS Bank and is offered in DC, DE, NJ, NY, PA, & VA.
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Refinancing Calculator

A great way to save on interest and get out of debt faster is to refinance student loans. To estimate your savings and see whether refinancing is right for you, use our student loan refinancing calculator.1

You can save over $12,500!1
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Hear What Our Refinancing Borrowers Are Saying

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Abigail from Western Michigan refinanced her federal and private student loans
refinanced his loans with lendkey
student loan refinancing

Why Refinance Student Loans Through LendKey?

Lower your monthly payments & interest rate Lower your monthly payments & interest rate

Lower Your Payments & Rates

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

refinance your federal and private student loans, including graduate loans, into one convenient loan at a great rate refinance your federal and private student loans, including graduate loans, into one convenient loan at a great rate

Simplify Your Finances

Through our lenders you'll be able to refinance student loans, both federal and private, including graduate loans, into one convenient loan at a great rate.2

No origination fees. No origination fees.

No Origination Fees

When you refinance student loans through us, our community lenders won't charge you any origination fees.

refinancing student loans with multiple repayment options refinancing student loans with multiple repayment options

Flexible Repayment Options

Many of our student loan refinance lenders offer various repayment options, including interest-only payments for the first four years.

Cosigner Release Available Cosigner Release Available

Cosigner Release Available

Many of our student loan refinance lenders offer cosigner release to creditworthy borrowers who have made consecutive, full on-time principal + interest payments.3

0.25% AutoPay Reduction 0.25% AutoPay Reduction

0.25% AutoPay Rate Reduction

When you sign up for automatic payments, many of our community lenders could drop your interest by 0.25%.4

3 Simple Steps to Refinance Your Student Loans

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Step Estimate: 1 Minutes

Refinance Student Loans & Save Big

If you’re having a tough time repaying your student loans, you’re not alone. Student loan debt in the USA has risen by more than 35% within the past 10 years, and the typical student leaves college saddled with more than $30,000 in student loan debt. Many of those who go on to grad school will ultimately rack up debts in the six figures.

While that’s not exactly good news, here’s some that you’ll like: LendKey offers financial strategies that can help ease the burden of repaying your loans. One of the most effective methods is to refinance and consolidate your existing student loans into one loan that’s more affordable and manageable, with a low rate and a low monthly payment.

Variable Rate vs Fixed Rate Student Loans

A fixed rate loan is one that maintains the same interest rate on the loan for the entire life of the loan. A variable rate loan has an interest rate that adjusts 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 more savings.

Consolidate Federal and Private Student Loans

Back when you were in college, it was easy to just focus on the funds that you needed to borrow for the upcoming semester. But now that graduation is behind you and you’re making your way in the real world, you might have a different view of the ragtag assortment of federal and private loans that you’ve collected over the years to finance your education. It may be quite an inconvenient and overpriced mess.

With LendKey’s student loan consolidation and refinancing, you can combine your federal and private student loans into one convenient payment and lower your monthly payments.

How it works

  1. List your existing student loans in your application.
  2. Once your application is approved, all of the loans that you’re seeking to consolidate will be completely paid off by your new lender.
  3. You’ll now have one new loan reflecting the total of all your combined loans that’s refinanced at a lower rate, with only a single payment to make each month.
  4. You can find out if you’re eligible in as little as 15 minutes, and you can use our easy online application to get started.

Learn More

Low Rate Loans From Community Lenders

All loans on LendKey.com are funded by community lenders like credit unions and community banks. These financial institutions work with LendKey to keep operating costs low, and pass on the savings directly to you.

Unlike many larger banks that may take deposits in one state and lend in others, community banks and credit unions channel most of their loans to the neighborhoods where their depositors live and work, helping to keep local communities vibrant and growing.

Those that do business with credit unions and community banks often report experiencing better customer service and more personal attention. And your accounts are safe with credit unions and community banks! The National Credit Union Share Insurance Fund, which is backed by the U.S. government, insures federally chartered and many state chartered credit unions. The Fund, similar to the FDIC for bank deposits, insures individual accounts up to $250,000.

About Community Lending

Frequently Asked Questions About Refinancing Student Loans

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.

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.

1 - 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.

Calculation for "save over $12,000" is based on refinancing $72,000 of Direct PLUS loans, a lifetime value of $101,255.34. After refinancing, a borrower could save over $12,000 and pay $89,001.58 in total over the 15-year of the loan with a rate as low as 2.92% (including a reduction for autopay).

2 - 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

3 - Cosigner Release

In order to qualify for the cosigner release, the borrower's account cannot be delinquent and he/she must submit a request, meet the consecutive, timely payment requirements, and meet the lender's credit criteria and income requirements.

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.