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Student Loan Refinancing

Student loan refinancing is the process of replacing one or more existing student loans with a new loan that has better terms or a lower interest rate. This can be a useful strategy for borrowers who have improved their credit score, have a strong income and employment history, or are looking for a way to lower their monthly loan payments. Continue Reading Below

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Industry Studies

2026 Student Loan Industry Study Thumbnail

2026 Student Loan Industry Study

Andrew Latham

Encyclopedia Articles

Discover the definition of financial terms related to student loan refinancing.

Learn About Student Loan Refinancing

Thumbnail for Blog Article: Unit 6: Paying for College and Career Training

Unit 6: Paying for College and Career Training

Andrew Latham

Thumbnail for Blog Article: Loans for Nurses & Healthcare Workers

Loans for Nurses & Healthcare Workers

Benjamin Locke

Thumbnail for Blog Article: Earnest vs Discover Student Loan Refinancing: Discover Exited, Here Are the Alternatives

Earnest vs Discover Student Loan Refinancing: Discover Exited, Here Are the Alternatives

Andrew Latham

Thumbnail for Blog Article: SoFi vs Earnest: Which Student Loan Refinance Lender Is Better?

SoFi vs Earnest: Which Student Loan Refinance Lender Is Better?

Andrew Latham

Thumbnail for Blog Article: College Ave vs Laurel Road: Which Student Loan Refinance Lender Is Better?

College Ave vs Laurel Road: Which Student Loan Refinance Lender Is Better?

Andrew Latham

Thumbnail for Blog Article: ELFI vs SoFi Student Loan Refinance: Which Lender Fits Your Financial Goals?

ELFI vs SoFi Student Loan Refinance: Which Lender Fits Your Financial Goals?

Andrew Latham

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About Student Loan Refinancing

Student loan refinancing is the process of replacing one or more existing student loans with a new loan that has better terms or a lower interest rate. This can be a useful strategy for borrowers who have improved their credit score, have a strong income and employment history, or are looking for a way to lower their monthly loan payments. When refinancing student loans, the borrower will apply for a new loan and use the proceeds to pay off their existing loans. The new loan will have its own terms and interest rate, and the borrower will be required to make regular payments of principal and interest. It is important to carefully consider the costs and potential benefits of student loan refinancing before deciding if it is right for you.