Student Loan Refinancing

College Ave offers student loan refinance options that can reduce your monthly payments and even the total cost of your loan. With fixed or variable interest rates, no application or origination fees, and lower interest rates when you sign up for auto-pay, we have student loan refinance options designed to reduce your costs and your stress level.

Student Loan Refinancing

Here's our current refinancing interest rates:

Variable rates


to 13.99% APR

Fixed rates


to 13.99% APR

(all rates shown include auto-pay discount)1

Checking your rate won’t affect your credit score.

Make Your Payments Work for You

Is anyone ever happy with "one-size-fits-all"? We don't think so. Everyone has their own personal budget and goals. With us, you can explore our student loan refinance rates without impacting your credit score. Then, you choose the student loan refinancing term that works best for you. Refinance student loan amounts as low as $5,000.2

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Variable Rate

variable icon


to 13.99% APR

Interest rate changes based on changes to a market index (e.g., SOFR)

Fixed Rate

fixed icon


to 13.99% APR

Interest rate does not change for the life of the loan

*all rates shown include auto pay discount1

Apply Now

Flexible Term Options

We’ll help you choose how many years you take to pay back your refi loan so you can be confident that your loan is working for you. We offer 5 year to 20 year repayment term options3. You can save more overall by choosing a shorter loan term (like the 5 year option), but you’ll be making bigger monthly payments. On the other hand, you can make smaller monthly payments by choosing the 20 year option, but may pay more in interest overall.

See How We Compare to Other Refi Lenders

College Ave SoFi Citizens Bank
Fixed and Variable Interest Rates
Application Fees
Choice of Loan Terms (How long you take to repay)



*Comparisons based on information obtained on lenders’ websites as of July 10, 2024.

Student Loan Refinancing FAQs

  • Which student loans should I refinance?

    A good rule of thumb is to refinance high-interest student loans. Federal student loans have unique benefits that only apply to federal loans. You will forfeit all of those exclusive federal benefits if you refinance your federal student loans with a private lender. Both your federal and private student loans are eligible to be refinanced into one simple, monthly payment.

  • Is it cheaper to refinance student loans?

    Generally speaking, the more student debt you have, the more money you can potentially save by refinancing your student loans. Student loan refinancing will only save you money if you qualify for a lower interest rate or choose a shorter repayment term.

  • Does refinancing student loans hurt your credit?

    Refinancing is taking out a new loan to pay off your existing student loans. During the application process, the lender will assess your credit with a "hard inquiry" which may temporarily lower your credit score. Your credit score should rebound. In the long-run continuing to make on-time payments will help improve your credit score.

  • Should I refinance my student loans?

    Refinancing your student loans may be a good option for you if you’re looking to pay off your student loans early, potentially get a lower interest rate, or consolidate your loans into one monthly payment. Refinancing can help you save interest and may make your monthly payments more manageable. Do your research for the best interest rates and use pre-qualification tools where available to see if you’d be approved for a loan.

    Carefully consider if you want to refinance your federal student loans. You will forfeit any benefits, like income-based repayment and loan forgiveness, that are unique to federal student loans should you refinance any of your loans with a private lender, like College Ave.



Variable rates may increase after consummation. The 0.25% auto-pay interest rate reduction applies as long as the borrower or cosigner, if applicable, enrolls in auto-pay and authorizes our loan servicer to automatically deduct your monthly payments from a valid bank account via Automated Clearing House ("ACH"). The rate reduction applies for as long as the monthly payment amount is successfully deducted from the designated bank account and is suspended during periods of forbearance and certain deferments. If a payment is returned, you will lose this benefit.


$5,000 is the minimum requirement to refinance. The maximum loan amount is $500,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, $300,000 for other graduate or professional degrees, and $150,000 for all other undergraduate or graduate degrees. Information advertised valid as of 11/01/2023.


This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 6.5% Annual Percentage Rate ("APR"): 120 monthly payments of $454.19 while in the repayment period, for a total amount of payments of $54,503.03. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.


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