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How to Refinance Your Student Loans with Credible

Fill out a quick simple form (2 mins)

  • One form to access options from top lenders
  • Checking your rates won't affect your credit score
  • Your information is not shared with lenders at this point

Choose an option you like (2 mins)

  • Easily compare your prequalified options in one place
  • Use our comprehensive tools to quickly find a plan for you
  • Get actual rates based on your credit profile, no ranges or estimates
  • 30 second quick request makes the process a breeze

Provide your loan details (3 mins)

  • Use our automated tool to easily import your loan information
  • Provide some additional details about yourself
  • Our Client Success Team is here to help you along the way
  • Get your finalized offer in 1 business day
Join thousands of others who have already saved by refinancing.

Compare options for student loan refinancing and consolidation

  • Lenders & Rates
  • Eligible Loans
  • 100% Free
Education Loans
Rates from (APR)
Fixed: 4.54%
Loan term

10, 15, 20 yrs

Eligible degrees

Undergrad & Graduate

Rates from (APR)
Fixed: 4.19%Variable: 3.27%
Loan term

5, 7, 10, 15, 20 yrs

Eligible degrees

Undergrad & Graduate

Citizens Bank
Rates from (APR)
Fixed: 3.90%1Variable: 2.82%1
Loan term

5, 7, 10, 15, 20 yrs1

Eligible degrees

Undergrad & Graduate

Rates from (APR)
Fixed: 3.89%Variable: 2.47%
Loan term

5 - 20 yrs

Eligible degrees

Undergrad & Graduate

Rates from (APR)
Fixed: 4.69%Variable: 5.09%
Loan term

10, 15, 20 yrs

Eligible degrees

Undergrad & Graduate

Rates from (APR)
Fixed: 3.09%3Variable: 2.55%3
Loan term

5, 7, 10, 15, 20 yrs3

Eligible degrees

Undergrad & Graduate

Rates from (APR)
Fixed: 4.75%Variable: 4.63%
Loan term

10, 15, 20 yrs

Eligible degrees

Undergrad & Graduate

Rates from (APR)
Fixed: 4.45%Variable: 4.64%
Loan term

10, 15 yrs

Eligible degrees

Undergrad & Graduate

Rates from (APR)
Fixed: 3.75%Variable: 2.96%
Loan term

5, 8, 12, 15 yrs

Eligible degrees

Undergrad & Graduate

Rates from (APR)
Fixed: 3.49%
Loan term

5, 10, 15 yrs

Eligible degrees

Undergrad & Graduate

See personalized rates from multiple lenders in 2 minutes
See My RatesChecking rates won't affect your credit
All APRs reflect autopay and loyalty discounts where available
1Citizens Bank Disclosures
3ELFI Disclosures
  • Federal Student Loans

    Our lenders can refinance some or all of your federal student loans into a private loan.

  • Private Student Loans

    Lenders also refinance private student loans from banks, credit unions or schools.

  • ParentPLUS loans

    If you took out ParentPLUS loans for a student, you can refinance them through Credible.

  • Service fee

    Using Credible is 100% free. Get your actual rates and amazing customer support.

  • Origination fee

    None of our partner lenders charge loan origination fees when you refinance.

  • Prepayment penalty

    There's no prepayment penalty if you'd like to pay off your loans faster.

Commonly Asked Refinancing Questions

How do I refinance my student loans?

Student loan refinancing allows qualified borrowers to adjust the interest rate and repayment terms on their private and federal student loans by taking out a new loan that pays off some or all of their existing education debt.

Borrowers may refinance student loans through a number of private lenders. As each lender's rates and criteria vary, it's important to shop around to find the best lender for you. Credible makes it easy to compare multiple lenders in just a few minutes.

Depending on the interest rate and number of years it will take to pay off your new loan, refinancing can reduce your monthly payment, your total interest paid, or both.

Why should I refinance my student loans?

Refinancing student loans can lower your interest rate, saving you thousands in total interest and enabling you to make monthly payments that pay off your loans faster. It can also give you peace of mind by allowing you to reduce your monthly payment, lock in a fixed interest rate, or remove a parent as the cosigner of a private loan.

Whatever your goal, you should weigh your options carefully. Here are some of the options that may be available to you:

  • Pay off loans faster
  • Reduce your monthly payment
  • Reduce interest charges and monthly payment
  • Relieve your co-signer of their obligations

Read more: Why you should refinance your student loans

When should I refinance?

The best time to refinance your student loans is typically after graduation, when you've landed a job and established strong credit.

To be eligible to refinance at an attractive interest rate, you'll typically need a history of earnings and a credit score that gives lenders the confidence that you'll be able to repay your student loan debt.

If you don't qualify to refinance right after graduation on your own, you may be eligible with a creditworthy cosigner. Or, you can try again when your financial situation improves. If you earn a raise or manage to pay down credit card debt, your chances of qualifying will improve. Not sure if you qualify? Credible makes it easy to see if you prequalify for rates in just two minutes.

Many borrowers decide to refinance once they can qualify for rates that are lower than those on their existing loans. But some borrowers with variable-rate loans may choose to refinance into a fixed-rate loan with a higher student loan interest rate to avoid a potentially bigger increase in their interest rate and monthly payment.

Try out: Credible’s student loan refinancing calculator

What is the difference between private student loan refinancing and federal student loan consolidation?

Student loan refinancing differs from federal student loan consolidation in several ways that are important to understand.

Student loan refinancing, sometimes referred to as private student loan consolidation, is only offered by private lenders. However, both private and federal student loans may be refinanced by qualified borrowers, often at lower interest rates. All student loan refinancing lenders on Credible accept both federal and private student loans.

Federal student loan consolidation is offered by the Department of Education, and allows borrowers to combine two or more federal loans so that they have a single monthly loan payment. Private student loans are not eligible for consolidation, and borrowers do not get a lower interest rate.

Read more: Private student loan refinancing vs federal student loan consolidation

Should I refinance or consolidate my student loans?

Refinancing your student loans through a private lender not only allows you to consolidate several loans into a single new loan, but you may also be able to lower your interest rate and adjust your repayment term, which can save thousands in interest charges.

But borrowers who refinance federal student loans also give up benefits provided by federal loans, including access to income-driven repayment programs that may qualify them for loan forgiveness after 10, 20, or 25 years of loan payments. Some lenders will accommodate borrowers who have temporary difficulties repaying their loans, but few offer income based repayment plans or loan forgiveness.

Consolidating federal student loans through the government provides the convenience of a single monthly payment, but will not lower your interest rate. However, you could lower monthly payments by qualifying for income-driven repayment options that stretch out your payments over a longer period of time. Borrowers who do not qualify for student loan forgiveness may end up paying considerably more in interest payments.

Read more: Student Loan Refinancing Risks

How do I decide between a fixed or variable-rate loan?

The choice often comes down to your tolerance for risk. While you may start off with a lower rate if you choose a variable-rate loan, the rate can go up and down, along with your monthly payment.

Refinancing into a fixed-rate loan often means starting at a higher interest rate, but that rate is locked in for the life of the loan.

All of Credible's student loan refinance partner lenders offer fixed-rate loans. Most of Credible's partner lenders also offer borrowers the choice of refinancing into a variable-rate loan.

Read more: How to Choose Between a Fixed-Rate or Variable-Rate Student Loan

What will refinancing cost me?

Nothing. Credible’s partner lenders do not charge prepayment penalties, application, or origination fees.

Using Credible is free. Although our partner lenders do pay us a fee, the fee does not affect your loan terms or the loan amount you pay the lender.

What do I need in order to qualify?

Qualifying to refinance student loan debt can depend on a number of factors including your credit and earnings history, credit report, the school you graduated from, and the size of the loan you want to refinance.

Credible’s data show the most common reason borrowers are turned down for refinancing is not their credit score, but excessive debt-to-income ratio, or “DTI.” If you have a limited or poor credit history, there are proven steps you can take to improve it.

Adding a creditworthy cosigner can improve your chances of prequalifying for a loan. The Credible marketplace allows you to request rates with a number of different cosigners, so you can see which helps you prequalify with the best rates.

Take two minutes to fill out our form, and if you're eligible you’ll see personalized, prequalified rates on your dashboard from each partner lender you qualify for. Requesting these prequalified rates will not affect your credit score, and your personal information is not shared with lenders unless you see an opportunity you wish to proceed with.

Read more: Why Lenders Say No To Refinancing Student Loans
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Credible in the news

Refinancing through Credible, Colleen cut her federal
student loan interest rates that ranged between
6-8% down to 4.5%, saving $12,000
over the life of her loan.

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