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Can I Refinance a Student Loan to a 30-Year Term? Options & Alternatives

A 30-year refinance is rare for private student loans, but federal borrowers may be able to extend repayment to 30 years through consolidation.

Author
By Christy Bieber

Written by

Christy Bieber

Freelance writer

Christy Bieber has spent more than 16 years in personal finance and is an expert on student loans, debt, social security, and mortgages. Her work has been published by The Motley Fool, CBS News, and MSN.

Written by

Christy Bieber

Freelance writer

Christy Bieber has spent more than 16 years in personal finance and is an expert on student loans, debt, social security, and mortgages. Her work has been published by The Motley Fool, CBS News, and MSN.

Edited by Renee Fleck

Written by

Renee Fleck

Renee Fleck is a student loans editor with over six years of experience. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.

Written by

Renee Fleck

Renee Fleck is a student loans editor with over six years of experience. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.

Reviewed by Kelly Larsen

Written by

Kelly Larsen

Kelly Larsen is a student loans editor at Credible. She has spent over 10 years covering personal finance, with expertise in mortgage and debt management.

Written by

Kelly Larsen

Kelly Larsen is a student loans editor at Credible. She has spent over 10 years covering personal finance, with expertise in mortgage and debt management.

Updated October 22, 2025

Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS # 1681276, is referred to here as “Credible.”

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Credible takeaways

  • A 30-year refinance term is rare among private student loan lenders.
  • Federal borrowers with at least $60,000 in loans can access a 30-year term through a Direct Consolidation Loan.
  • Longer repayment terms mean paying more interest over time, even with a lower interest rate.
  • Extending your loan term can help lower monthly payments and free up money for other financial goals.

Paying off student loans can take years, especially if you owe a large balance. The average undergraduate borrower leaves college with $29,300 in student debt, according to the College Board. Longer repayment terms can make monthly payments more manageable, which may lead you to wonder whether a 30-year student loan refinance makes sense. 

While federal student loans offer extended repayment options as long as 30 years, most private lenders don’t. However, there are still a few ways you can lower your payments or extend your loan term to help manage repayment. 

Here’s what to know about your options and when refinancing to a longer term might make sense.

Current student loan refinance rates

Can you refinance student loans to a 30-year term?

Refinancing into a 30-year student loan term isn’t common. Most student loan refinance lenders only offer repayment terms of 20 years or less, and only a few, such as Nelnet Bank, offer terms as long as 25 years.

If you have federal student loans, you can apply for a Direct Consolidation Loan, which allows you to extend your repayment term to as long as 30 years if you have at least $60,000 in federal student loan debt. While a Direct Consolidation Loan won’t lower your interest rate, it combines multiple eligible federal loans into one, with a new rate based on the weighted average of your existing loans.

Pros and cons of refinancing to a 30-year term

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Pros

  • Lowers your monthly payments
  • Frees up money in your monthly budget for other goals
  • May come with a lower interest rate
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Cons

  • Few lenders offer 30-year terms
  • Keeps you in debt for longer
  • Costs more in total interest
  • Requires a long-term financial commitment

Pros of extending your loan term

If you’re struggling with high monthly payments, refinancing to a longer loan term can help make them more manageable. Spreading out your payments over a longer period can free up room in your budget for other priorities.

“By lowering your payments, you can work on other goals like saving for retirement, buying a home, or paying down high-interest-rate debt,” says Domenick D'Andrea, certified plan fiduciary adviser (CPFA) and co-founder of DanDarah Wealth Management.

Refinancing to a longer term can also make sense if you can secure qualify for a lower interest rate than what you’re paying now. Since you’ll be repaying the loan for a longer time, getting the lowest rate possible matters even more.

“If the interest rate is considerably lower than what your current rate is at, then it could make sense, especially if you don’t see yourself paying off your current debt within 30 years,” says Steve Azoury, chartered financial consultant (ChFC) and owner of Azoury Financial.

Cons of extending your loan term

It’s important to weigh the downsides before committing to a 30-year repayment term.

First, your options may be limited. “It may be hard to find a lender that will refinance for 30 years,” says D'Andrea. 

Even if you do find one, extending your repayment period means taking on a long-term financial commitment. Repaying a loan over such an extended period ties up your money and keeps a monthly bill in your budget for decades.

You’ll also pay more in total interest. “The biggest disadvantage is that paying a loan for 30 years will lead to paying a lot of extra interest,” advises Jack Wang, wealth adviser at Innovative Advisory Group and host of the Smart College Buyer podcast.  

Before refinancing, make sure the trade-off is worth it. “When making a decision to refinance, make sure you look over the numbers to see that the short-term savings is worth paying more interest over the period of the loan,” advises D'Andrea.

Editor insight: “If you have federal student loans, I recommend thinking carefully before refinancing. Once you refinance, you’ll lose federal benefits like access to income-driven repayment plans and potential loan forgiveness. Make sure you don’t qualify for these programs now or in the future before giving them up.”

— Renee Fleck, Student Loans Editor, Credible 

How much does a 30-year loan cost over time?

A 30-year loan can cost significantly more in interest, even if you qualify for a lower rate. That’s because stretching payments over three decades gives interest much more time to accumulate. Longer repayment terms also often come with higher rates than shorter ones.

To see how this plays out, consider $60,000 in student loans at a 7.00% interest rate. With a standard 10-year repayment plan, you’d pay off the loan much faster but with higher monthly payments. Extending the term to 30 years would lower those payments, but you’d end up paying about $60,000 more in total interest over the life of the loan. 

10-year repayment term
30-year repayment term
Monthly payment
$697
$399
Total interest cost over time
$23,598
$83,705
Number of monthly payments
120
360

See Also: Student Loan Refinance Calculator

Alternatives to a 30-year student loan refinance

If you’re looking to lower your monthly payments but can’t find a 30-year refinance option, consider these alternatives:

  • Choose a 20- or 25-year loan term: Many private lenders offer refinance terms up to 20 years, with a few extending to 25 years. You’ll have a wider range of lenders to choose from, and your monthly payment will still be lower than on a shorter-term loan.
  • Refinance without extending your term: If you qualify for a lower interest rate, you can reduce your monthly payment and total interest cost without increasing your term length.
  • Enroll in an income-driven repayment (IDR) plan: For federal student loans, an IDR plan adjusts payments at a percentage of your income and forgives the remaining balance after 20 or 25 years, depending on the plan. 

FAQ

What lenders offer 30-year student loan terms?

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Can I refinance federal student loans into a 30-year private loan?

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Is it harder to qualify for a 30-year student loan refinance?

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Will I pay more interest on a longer student loan term?

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Can I pay my student loans off early if I refinance to 30 years?

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Meet the expert:
Christy Bieber

Christy Bieber has spent more than 16 years in personal finance and is an expert on student loans, debt, social security, and mortgages. Her work has been published by The Motley Fool, CBS News, and MSN.