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Education Refinance Loan

Refinance student loan debt for potentially lower rates and more manageable payments

Refinance federal and private student loan debt with our Education Refinance Loan. Looking for a way to make your student loan payments more manageable? Wondering if you could refinance your student loans at a lower rate to save money? With the student loan refinancing option from Citizens Bank, you may be able to trim your monthly payment or reduce your interest rate to make your loans more affordable. In addition to the new rate you may qualify for, we also have available discounts to lower our competitive interest rates even further. And when you consolidate your student loans with us, you’ll get the convenience of a single monthly payment.

Learn more about the Education Refinance Loan below and use our refinance calculator to estimate your potential savings with a new loan. Then start the application process today! Even if you've already consolidated student loans in the past, you can still refinance your student loan debt with us for a potentially lower interest rate.


  • No application, origination or disbursement fees
  • No prepayment penalty

Potential benefits

  • A better interest rate
  • Lower monthly payments
  • One convenient monthly payment for your student loans

Fixed or variable rate

  • A fixed rate as low as 4.74%1
  • A variable interest rate as low as 2.34% APR1
Rate and Repayment Examples

Multiple term options

  • Choose to repay your loan in 5, 10, 15 or 20 year terms
Rate and Repayment Examples

Loan amounts

  • Loans from $10,000 to $170,000 depending on your level of education

Eligible loans

  • Private and federal undergraduate and graduate student loans are eligible for refinancing
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Estimate My Savings

Four quick questions to see how refinancing
might lower your monthly payment.

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Ways to refinance student loans at a lower rate

Interest Rate Discounts

Reduce your interest rate with the following discounts when you refinance or consolidate your student loan debt with us:

  • Loyalty Discount: 0.25 percentage points off your interest rate on a new Education Refinance Loan if you or your co-signer (if applicable) has a qualifying account with us when you apply.2
  • Automatic Payment Discount: 0.25 percentage points off your interest rate by authorizing our loan servicer to automatically deduct your payments each month from any bank account.2


If you have little or no credit history, we strongly suggest that you apply with a qualified co-signer as it may increase your chances of approval or help you secure a lower interest rate.

After making 36 consecutive on-time payments of principal and interest, a borrower may apply to release the co-signer from the loan.3

To learn more about cosigner responsibilities, speak to a Student Lending Specialist.

Am I eligible to refinance my student loans?

You may be eligible to refinance your student loan debt if:

  • You’re no longer enrolled in school
  • You have a history of paying your current student loans on time
  • You have proof of income

Do you want to explore your options or learn more about eligibility requirements? A Student Lending Specialist can help. Give us a call today.

Full eligibility details

Deciding to refinance

Whether or not to refinance your student loans is a personal decision, and it’s not right for everyone. You can learn more about the benefits of refinancing your student loans by speaking with a Student Lending Specialist. In the meantime, here are some things you can do to determine if refinancing could work for you:

  • Review the benefits of any federal student loans you may wish to refinance. Federal student loans provide certain benefits that are unavailable with private student loans. When you refinance, you waive any current and potential future benefits of your Federal loans and replace those with the benefits of the Education Refinance Loan.
  • Know your current income and expenses, as well as your financial goals.
  • Compare your current student loan terms with our refinance loan options.

Should I Refinance My Student Loan?

Refinancing FAQs

What loans can I include in my refinancing?

Am I eligible to refinance?

How good must my credit be to be eligible?

What are the steps to getting my loan?

See all FAQs

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Call a Student Lending Specialist

How do I apply?

Applying to refinance or consolidate your student loans is easy. Just provide us with:

Completed Application
Filled out by you and, if applicable, your co-signer. Use our refinance application checklist to make sure you have everything you need along the way.

Existing Student Loan Information
Billing statements for the loans you wish to refinance.

Income & Expense Information
Details on your employment and monthly housing payments, as well as recent pay stubs or other proof of income.

Learn more about the application process with answers to frequently asked questions.

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