Refinance Student Loans

Refinance Student Loans

Refinance existing student loans to lower or reduce monthly payments

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Refinance Student Loan Rates as low as

APR Effective 5/1/2022*


Student Refinance Loan

Fixed Rate


Parent Refinance Loan

Fixed Rate

*See important information about rates, fees and other costs

Why Refinance Your Student Loans?1 

Refinancing your student loans may help reduce your monthly loan cost. If you have good credit and a stable income, lower interest rates may save you money. Refinancing may also be a good option for student graduates and parent borrowers interested in consolidating multiple loans. Parent borrowers who have taken out loans for themselves and on behalf of their children may opt to consolidate their loans for a lower overall interest rate. Read more about our loan consolidation option for parent borrowers.

Features and Benefits 

  • No origination fee. BECU won't charge you an application fee to process the loan.
  • Get a 0.25% APR interest-rate discount when you sign up for automatic payments.2
  • No prepayment penalty.
  • Cosigner release option after 24 months - see below for details.

If you are a returning student loan borrower, log in to your account through the LendKey site. Once you're logged in click the green "Apply for an Additional Loan" button.


  • Be a BECU Member (it's free to join).
  • Students must have graduated from an eligible school.
  • Parents are also eligible to refinance federal ParentPlus or private student loans.
  • Legal adult in the state in which you reside (age 18 in most states) 

Cosigner Information 

  • Cosigners aren't required for refinance loans, but applying with a cosigner could help you secure the best possible rate to reduce your monthly payment.
  • Cosigners may be released after 24 on-time, consecutive payments.3
  • Students and primary borrowers initiate the application and invite the cosigner to apply.

Manage Existing BECU Student Loans


  • Federal loans (government loans)

  • Private loans (loans from another financial institution)

  • Eligible student loans include Federal Stafford , Federal Direct, and  Grad PLUS Loans, as well as any private student loans in your name

  • Eligible guardian loans include Federal PLUS Loan and Private Parent Loans taken out for a child, as long as parent or guardian is the primary borrower on all the loans to be consolidated

When combining federal loans into a refinance loan, understand that you may lose out on forgiveness and repayment options only available to Federal Loans

  • Graduates of undergraduate programs: $10,000 – 100,000

  • Graduates of graduate programs: $10,000 - $125,000

  • Parent of graduates (either program) - $10,000 - $125,000

No. Your loan will be serviced by LendKey, a trusted student loan partner since 2009.

While you may apply on your own, applying with a creditworthy cosigner can make all the difference when it comes to a loan application's chances for success and approval—and even result in a lower rate.

To make a payment, visit LendKey Servicing site.

There are two types of interest rates: fixed, meaning you “lock” your rate and it doesn't change. The second interest rate is variable, meaning that the rate changes depending on the current economy. 

Choose Fixed Rate:

  • You want the peace of mind of your rate never changing

  • The current rate environment is low

  • You need your payments to remain the same every month

Choose Variable:

  • Current rates are higher

  • You can withstand potential changes in the market – both high and low

  • You expect to pay off your loan quickly and changing rates won't affect you long-term

  • Private student loans are credit-based loans for college that are used to pay for qualified educational expenses including tuition, room and board, books, and other school related expenses. They are offered by private-sector lenders. 
  • Federal student loans are offered by the government and include fixed interest rates.

About LendKey 

  • 4.5 star rating on Nerdwallet.

  • Has an established online presence in the Student Lending space since 2009

Related Content

1 Financing is subject to BECU membership, credit approval, and other underwriting criteria; not every applicant will qualify. Rates are based on an evaluation of credit history and other factors specific to your loan (such as loan term and loan amount) and may be higher than the lowest rates advertised. Your final APR may differ from your loan interest rate due to additional fees that may apply. Loan program including rates, terms, and conditions are subject to change without notice. The payment example illustrates the estimated annual percentage rate (APR) and monthly payment for a $10,000 loan amount with various terms. If you selected a 10-year term, you would make 120 monthly payments of $101.67 to $122.60—depending on your APR.

2 All rates include the auto-pay discount of 0.25%. If the automatic payment is canceled any time after enrollment, the rate reduction will discontinue. This rate reduction may be suspended during any period of forbearance or deferment. 

3 Primary borrower may apply to remove cosigner after 24 on-time payments of principle and interest during the repayment period, subject to credit approval and other underwriting criteria.