Guide to Refinance

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!

• 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

By refinancing federal student loans, you may lose certain borrower benefits from your original loans, including interest rate discounts, principal rebates, or some cancellation benefits that can significantly reduce the cost of repaying your loans. It is important to remember that if you refinance some or all of your federal student loans into a private student loan with the credit union, you will lose access to any current or future federal student loan benefits, such as potential debt cancellation or income-driven repayment options. With the recent announcement from the Biden administration, it’s more important than ever to evaluate your options if you have federal student loans so that you can make educated decisions. For more information, visit studentaid.gov or contact your federal student loan servicer.