Student Loan Refinance2021-07-22T16:30:34-05:00

NOTE: The CARES Act was passed in response to events related to the Coronavirus pandemic and includes broad relief measures for federal student loan borrowers. If you are considering refinancing your federal student loans, please make sure to review these measures at www.studentaid.gov/coronavirus to understand your options.

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Student Loan Refinance

Take control of your student loan repayment! Refinance and consolidate your private and federal student loans (including PLUS loans) into one manageable loan, setting up one convenient payment and potentially lowering your rate.*

Benefits

  • Potentially Lower Rate/Payment

  • One Convenient Payment

  • Find My Rate Tool

  • Competitive Rates

  • Easy Online Application

  • 1:1 College Counselor Support

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Guide to Student Loan Refinance

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Refinancing your student loans could help you pay your loans off sooner or save on your monthly payment. We know that everyone’s student loan situation is unique, and figuring out where to start can be tough. Learn more about your options and decide if refinancing is right for you!

Our Guide to Student Loan Refinance includes the following and more:

  • The pros and cons to student loan refinance
  • The difference between student loan refinance and consolidation
  • Helpful resources to determine your student loan refinance options
  • Information to help you decide if refinancing your student loans is right for you

Fill out the form to request our Guide to Student Loan Refinance.

NOTE: The CARES Act was passed in response to events related to the Coronavirus pandemic and includes broad relief measures for federal student loan borrowers. If you are considering refinancing your federal student loans, please make sure to review these measures at www.studentaid.gov/coronavirus to understand your options.

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Should I refinance my student loans?

With rates at historic lows, refinancing your student loans could help you pay your loans off sooner or save on your monthly payment. But we know that everyone’s student loan situation is unique, and figuring out where to start can be tough. Check out our Guide to Refinance or consult with our College Counselor to determine if it makes sense for you.

Calculate Savings

Frequently Asked Questions

Should I continue making payments while my refinance application is in process?2021-05-07T10:10:30-05:00

Yes, you should continue to make your payments while your application is in process. You will be notified when the funds have been sent to the applicable servicers.

What should I know about the CARES Act and refinancing federal student loans?2021-05-07T10:10:03-05:00

The CARES Act was passed in response to events related to the Coronavirus pandemic and includes broad relief measures for federal student loan borrowers. If you are considering refinancing your federal student loans, please make sure to review these measures at www.studentaid.gov/coronavirus to understand your options.

What kind of loans can I refinance?2021-05-19T15:09:02-05:00

All loans being refinanced must be post separation from school.

Federal Education Loans:

  • Federal Family Education Loan Program (FFELP)
  • Subsidized or Unsubsidized (aka Stafford Loan)
  • Grad or Parent PLUS William D. Ford Direct Loan Program Subsidized or Unsubsidized (aka Direct Stafford Loan)
  • William D. Ford Direct Loan Program Undergraduate, Grad or Parent PLUS
  • Perkins, Nursing or Health Education Assistance (HEAL)
  • Consolidation

If you choose to refinance a federal loan, you will lose federal student loan benefits such as income driven repayment or loan forgiveness options that may be available on your current federal loan(s). In addition, federal student loans offer deferment and forbearance options that may not available to you if you take out a private refinance loan. You may qualify for a Federal Direct Consolidation Loan. For additional information about a consolidation option for federal loans, contact the Department of Education at: studentaid.gov. See disclaimers for more details.

Private Education Loans: 

  • Undergrad
  • Graduate
  • Consolidation

Institutional Education Loans: 

  • Undergrad
  • Graduate
  • Consolidation
What is the difference between consolidation and refinancing?2021-05-19T14:09:54-05:00

Consolidation means you are simply combining existing loans. Your total payment amount and total interest will likely remain the same, but you’ll have the convenience of making one payment rather than multiple payments. This type of loan is usually associated with federal government student loans.

When you refinance, you are taking out a single new loan to pay off your old ones. You’ll probably have a new interest rate, new terms, and a different monthly payment amount. This is the loan solution offered by your credit union.

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What Borrowers Are Saying

“I began my student debt with another company who promised the moon and the stars, but the interest they charged and the hidden fees were a nightmare. After 3 years with them, I turned to my credit union. I refinanced my debt to make the payments manageable for me. My credit union has shown great compassion and have been a real rock for me. In less than a year, I have paid down the loan more than I did in three years with the other company. THREE YEARS –  it is simply amazing! I cannot thank them enough.”

– Christopher, KEMBA Financial Credit Union

* Subject to credit qualification and additional criteria, including graduating from an approved school.

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