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Student loan refinancing
Refinance your student loans and keep more of your paycheck
Replace one or more existing student loans with a single new private loan — ideally at a lower rate — so you can simplify your payments and spend less on interest as your career grows.
- Combine multiple loans into one monthly payment
- Choose a fixed or variable rate and set your own term
- Checking your rate uses a soft credit check — no score impact
- Target a lower interest rate
- Multiple loans, one payment
- Add or release a co-signer
What you get
Refinancing that fits your life after graduation
Refinancing swaps your current student loans for one new private loan on terms you choose. Here's what that can do for you.
Lower your interest rate
Qualify for a better rate than your original loans and pay less interest over the remaining life of the balance.
Simplify to one payment
Fold several federal and private loans into a single monthly payment, with one due date and one servicer to track.
Pick your own term
Choose a shorter term to clear the debt faster and save on interest, or a longer one to ease the monthly cost.
Release a co-signer
Refinancing on your own income and credit can free the parent or co-signer who backed your original loans.
Fixed or variable rate
Lock a fixed rate for predictable payments, or take a variable rate that may start lower if you plan to repay quickly.
Free up monthly cash
A lower rate or a longer term can reduce your payment, leaving more room in your budget for other goals.
Why borrow with us
Why graduates refinance
Save on total interest
A lower APR sends more of each payment toward principal, cutting what your degree ultimately costs to finance.
One loan to manage
No more juggling separate due dates and servicers — refinancing brings everything into a single, tidy account.
Repayment on your terms
You set the payoff timeline, balancing how quickly you're debt-free against a monthly payment your budget can absorb.
Revisit as life changes
Earning more or built stronger credit since school? Refinancing again later can capture an even better rate.
How it works
How refinancing works, step by step
Check your rate
Share a few basics about your loans and income to see estimated offers, using a soft credit check that won't affect your score.
Compare offers and terms
Weigh rates, fixed versus variable, and repayment lengths side by side to find the balance of savings and payment that suits you.
Apply with your details
Submit your income, employment and current loan statements so the lender can verify everything and confirm your final rate.
New lender pays off the rest
Once you're approved, your new lender clears the old balances and you begin making one payment on the refinanced loan.
Good to know
What shapes your refinance rate
Every offer is priced to you. These are the factors lenders weigh most when setting your refinance rate.
- Credit score
- Your credit history is central. Stronger scores earn the lowest rates, which is why many graduates refinance once their credit improves.
- Income & employment
- Steady, sufficient income reassures lenders you can comfortably handle the new payment, and often unlocks a more competitive rate.
- Debt-to-income ratio
- Lenders compare your monthly debts against your income; a lower ratio signals room to repay and can improve your offer.
- Degree & earning stability
- Your field of study and career path help lenders gauge your long-term earning potential and repayment reliability.
- Term & rate type
- Shorter terms and variable rates often start lower, while longer fixed terms trade a higher rate for payment certainty.
Student Loan Refinance, without the guesswork
Compare real, personalised offers in one place and move forward with confidence — no pressure, no surprises, and no impact to your credit just to look.
Questions
Student Loan Refinance FAQs
No. Seeing your estimated refinance rate uses a soft credit inquiry, which leaves your score untouched. A hard inquiry only happens if you decide to formally apply with a lender.
Be cautious. Refinancing federal loans into a private loan permanently gives up income-driven repayment, deferment and forbearance options, and eligibility for federal forgiveness programs. Only do it if a lower rate clearly outweighs protections you're confident you won't need.
A federal Direct Consolidation Loan combines your federal loans while preserving their federal benefits, but it won't lower your rate. Refinancing replaces loans with a new private loan that may cut your rate — but forfeits those federal protections.
Yes. Adding a creditworthy co-signer can help you qualify or earn a lower rate, and many lenders let you release them after a set run of on-time payments. Refinancing can also remove a co-signer tied to your original loans.
Most lenders set a minimum, often a few thousand dollars, and some cap the maximum. The exact range depends on the individual lender and your qualifications.
A fixed rate keeps your payment the same for the whole term, which suits a longer payoff. A variable rate may start lower but can rise over time, so it tends to fit borrowers planning to repay quickly.
See your student loan refinance rate
Answer a few quick questions and compare real, personalised refinance offers in minutes — with a soft credit check that won't affect your score.
Refinancing federal student loans into a private loan permanently forfeits federal protections — including income-driven repayment, deferment and forbearance options, and forgiveness eligibility. Rates, terms and approval are set by the lender based on your creditworthiness and are not guaranteed. AltFTool is not a lender. Checking your rate uses a soft credit inquiry; applying with a lender may involve a hard inquiry.