Refinance Student Loans

Refinance Student Loans

Refinance existing student loans to lower or reduce monthly payments

Apply Now

Refinance Student Loan Rates as low as

APR Effective 4/1/2024*


Student Refinance Loan

Fixed Rate


Parent Refinance Loan

Fixed Rate

*See important information about rates, fees and other costs

Important Update

On June 30, 2023, the Supreme Court struck down the Biden Administration's proposed one-time federal student debt relief plan. For more information on this decision, the end of the federal student loan payment moratorium, and other available federal loan benefits and repayment options, visit

Why Refinance Your Student Loans?

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 origination fee to process the loan.1
  • 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.3

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).
  • Applicant must have a valid social security number (SSN); U.S. citizenship is not a requirement.

  • If you're applying with a cosigner, your cosigner must have a valid SSN. U.S. citizenship is not a requirement.

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.

Please keep in mind that if you choose to combine federal loans by refinancing, you may lose out on forgiveness and repayment options that are exclusively available through 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 choose to be the sole applicant on a loan, a credit-worthy cosigner might help increase your approval odds and may even result in a lower interest rate. After 24 months of timely payments, most borrowers become eligible to remove their consigner from their loan.

To make a payment, visit the 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.

A fixed rate may be right for you if:

  • You prefer the predictability of a stable interest rate.

  • The current rate environment is low.

  • You prefer to pay the same amount each month.

A variable rate may be right for you if:

  • Current interest rates are higher.

  • Your budget can withstand potential changes in the market – both high and low.

  • You expect to pay off your loan quickly, and changing rates won't significantly 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.

If you're experiencing financial hardship, there are many resources to help.

  • Contact your loan servicer as soon as possible to see if you're eligible for federal repayment options like Fresh Start or income-based repayment.
  • Take advantage of BECU's free financial counseling sessions, available through GreenPath.
  • LendKey borrowers: Contact LendKey customer service to see if forbearance is right for you and your unique situation.
  • For more information on your payment options, visit our Member Assistance Program page.

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.

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.