The Economic Stimulus Package Has Passed!
Within the Economic Stimulus Package, there are provisions regarding your student loans. Contact ASA to speak with an expert counselor about what this could mean for you.

What is Refinancing?

Combine your existing student loans at a potentially lower interest rate, lower monthly payment, and/or shorter term.

Plus, receive an exclusive $300 bonus when you refinance through Gradifi Refi.1

What could your loans look like?

Rates (APR)4
3.19% - 6.43%
Term (years)
5, 7, 10, 15, 20
Rates (APR)3
3.64% - 7.75%
Term (years)
5, 7, 10, 15, 20
Rates (APR)5
4.65% - 6.15%
Term (years)
7, 10, 15

Gradifi strives to build relationships with lenders that offer competitive student loan refinancing terms, but other lenders may have offers that are more favorable to you. Gradifi may receive compensation from participating lenders for loans funded through this program. All rates and terms shown above are subject to change. Gradifi is not a lender. Loan terms and conditions, eligibility requirements and credit underwriting are the responsibility of the lender. You should carefully review lender disclosures and offer terms before accepting any offer.

Not sure if refinancing is for you?

Gradifi has additional resources to help you make the best decision for you.

Student Loan Counselors
Free unbiased student loan counseling from American Student Assistance® (ASA)
Learning Center
Educational content, videos, and modules to learn all about financial wellness

What could your loans look like?

Enter your current outstanding debt for personalized refinancing results.

Based on a comparison to a $40,000 balance, a 6.5% rate and a 10-year term.

Learn More
Interest Rate
Refinancing Term(s) for 4.81%
60 mos. shorter
Total Interest Saved
$5,082 total interest
Monthly Increase
$751.37 / month
Learn More
Interest Rate
Refinancing Term(s) for 5.70%
60 mos. shorter
Total Interest Saved
$6,059 total interest
Monthly Increase
$767.65 / month
Learn More
Interest Rate
Refinancing Term(s) for 5.40%
36 mos. shorter
Total Interest Saved
$8,124 total interest
Monthly Increase
$572.91 / month
Why refinance?

Lower interest rate

Depending on your current rates, your new loan could lower your overall rates which could save you money on interest over the life of the loan.

Reduced monthly payment

Refinancing may allow you to lower your interest rate or extend your repayment period, either of which could lead to a lower monthly payment.

Simplified payment

You can turn all of your federal and private loans into one loan which means that you will only have one monthly payment. It will make your loan payments much more convenient.

Lock in a fixed rate

If your current loans have variable interest rates, refinancing can lock you into your rate so that you do not have worry about changes in the market.

Shorten your loan term

If you are able to comfortably make your current monthly payment, you may want to consider shortening your loan term. Shorter terms often yield lower interest rates and higher savings.

Release your cosigner

Depending on your income and credit score, refinancing offers the opportunity to remove your cosigner from your loan. It will then take away the financial liability from your cosigner and has the potential to build your credit more.

Things to consider before refinancing

  • You will not be able to participate in any federal loan repayment programs like income-based repayment.

  • You will not be eligible for federal student loan forgiveness programs.

  • You may lower your interest rate or monthly payments but depending on your repayment terms, you could actually increase the total amount you pay back.

  • You may no longer be able to deduct your student loan interest as a tax deduction.

  • You may still need a cosigner depending on your income, credit score, and how long you have been making payments on your current loans.

Want help deciding if refinancing is right for you?

Gradifi members have access to expert student loan counselors from American Student Assistance® (ASA).

The material provided by E*TRADE Financial Corporation or any of its direct or indirect subsidiaries (E*TRADE) or by a third party not affiliated with E*TRADE is for educational purposes only and is not an individualized recommendation. The information contained in the third-party material has not been endorsed or approved by E*TRADE, and E*TRADE is not responsible for the content. This information neither is, nor should be construed as, an offer or a solicitation of an offer, or a recommendation, to buy, sell, or hold any security, financial product, or instrument discussed herein, or to open a particular account or to engage in any specific investment strategy by E*TRADE.

The E*TRADE Financial family of companies provides financial services, including trading, investing, banking, and managing employee stock and financial wellness benefit plans.

E*TRADE Financial Corporate Services, Inc. recently acquired Gradifi, Inc. Gradifi offers financial wellness benefits focused on solutions for employers to provide their employees student loan and college savings benefits.

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