What happens if I refinance my federal loans with a private lender?

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If you refinance your federal loans with a private lender, it becomes a private loan. When you do this, you are forfeiting your eligibility to receive the specific benefits and protections that come with federal loans, such as loan forgiveness and income-based repayment options. Please see our blog to learn more about refinancing your federal loans.



Please note that the information provided on this website is provided on a general basis and may not apply to your own specific individual needs, goals, financial position, experience, etc. LendKey does not guarantee that the information provided on any third-party website that LendKey offers a hyperlink to is up-to-date and accurate at the time you access it, and LendKey does not guarantee that information provided on such external websites (and this website) is best-suited for your particular circumstances. Therefore, you may want to consult with an expert (financial adviser, school financial aid office, etc.) before making financial decisions that may be discussed on this website.