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?
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.
Gradifi has additional resources to help you make the best decision for you.
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.
Lower interest rate
Reduced monthly payment
Lock in a fixed rate
Shorten your loan term
Release your cosigner
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.
Gradifi members have access to expert student loan counselors from American Student Assistance® (ASA).
1 $300 PayDown Rewards® bonus will be paid out after your eligible loan has been approved and disbursed by the lender. Lenders are not responsible for PayDown Rewards. Note: Gradifi receives compensation from lenders for loans funded through this program. Bonus amounts are subject to change at any time. Limit one bonus per member per twelve-month period.
3 Terms and conditions apply. LendKey Technologies, Inc. (“LendKey”) is not responsible for any inaccurate information disclosed on this website. If approved for the loan, the interest rate offered to you will depend on your (and your co-signer's, if applicable) credit profile and application. All applicants must (i) be either U.S. citizens or Permanent Residents in an eligible state and graduated from an eligible school; (ii) meet the age of majority requirements as determined by the applicant's state of residence at the time of application; and (iii) meet the lender's credit and income requirements. If the applicant wishes to accept a loan offer from a credit union lender, the applicant must be a member of the credit union, and, therefore, certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply. Applicants may complete a credit union membership application during the loan application process on LendKey's website. Applying with a creditworthy co-signer may result in a better chance of loan approval and/or lower interest rate. APR = Annual Percentage Rate. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation are not eligible for refinancing with a lender via LendKey.com. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered at any time without notice.
In some circumstances, the lender of the loan may offer a 0.25% reduction if you choose to enroll in automatic monthly payments from a personal checking or savings account to pay principal and interest amounts that are due. The reduction may be removed and the rate will be increased (leading to higher payments) upon any cancellation or failed collection attempt of the automatic payment, and will be suspended during any period of deferment or forbearance. Additionally, in some circumstances, the lender of the loan may offer co-signer release. In order to qualify for co-signer release, the borrower must have made the required minimum number of on-time full principal and interest payments immediately prior to the request to have the co-signer released (Any period of forbearance will restart the clock); the loan account cannot be in delinquent status; the borrower must provide proof of income indicating he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; no bankruptcies or foreclosures in the last 60 months; and no loan defaults.
4 Eligibility: To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Autopay Discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
Earnest reserves the right to change, pause, or terminate product offerings at any time without notice.
Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 303 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, e-mail us at firstname.lastname@example.org, or call 888-601-2801 for more information on our student loan refinance product.
5 Applicants refinancing with MEFA must be either U.S. citizens or permanent residents. Additionally, applicants must have no history of education loan default, no delinquencies on education debt in the past 12 months, and no bankruptcy or foreclosure in the past 60 months. Applicants must be borrowers on all loans with a total minimum of $10,000 being refinanced and have established credit history. The loans to be refinanced may be private or federal loans, including Federal Direct Undergraduate and Graduate Loans, Stafford Loans, PLUS Loans, and Graduate PLUS loans. Refinancing a federal education loan will cause the applicant to forfeit certain benefits that may be eligible for only federal loans. The loans must be used to fund the cost of attendance at an eligible, not-for-profit, degree-granting college or university as defined by MEFA. The loans must be in repayment, current at the time of the application, and been repaid on time in each of the previous 12 months.