Student Loan Refinancing Guide

The Brazos Student Loan Refinance Rates displayed are based upon the repayment term selected and the creditworthiness of the borrower or co-signer, and include the 0.25% Auto-Pay Discount. Not all borrowers receive the lowest rate. The lowest APR calculations assume the highest creditworthy borrower with a 60-month repayment term. The highest APR calculation assumes the lowest creditworthy borrower with a 240-month repayment term.Fixed Rates are set at the time the loan is made and will not change over the life of the loan. Variable Rates and corresponding APRs may increase over the life of the loan, but will never exceed 9.90%. The variable interest rate is based on an index of the 30-day Average SOFR plus a Margin. The lowest variable rate APR displayed is based on the current SOFR index of 4.35% plus a 0.25% margin, minus the Auto-Pay Discount. The Variable Rate will adjust monthly and the loan payment may increase or decrease monthly to provide for amortization over the selected term. The Variable Rate product is only available to Texas Residents.AutoPay Discount. The interest rate in effect will be reduced by 0.25% if either the borrower or cosigner authorizes automated (ACH) payments from any bank account. The Auto-Pay Discount only applies when full principal and interest payments are automatically drafted from a bank account and does not apply during periods of approved forbearance or deferment. Certain other terms and conditions apply.

Earnest Disclosures

SoFi Disclosures

Terms and Conditions Apply

Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments.  Your initial rate will be determined after a review of your application and credit profile, and it may be based on your credit score, level of degree earned, and the availability and credit score of a cosigner applicant.  Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate.  Variable rates may increase after consummation.  Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if your meet the lender's eligibility criteria.  Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.

AutoPay Discount & Lowest Interest Rate

Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 5 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.

As of 05/14/2025 student loan refinancing rates range from 4.54% to 9.09% Fixed APR with AutoPay.

• Application Fee: $0
• Origination Fee: 0%
• Loan Guarantee Fee: 0%
• Prepayment Fee: 0%
• Late Charge: the lesser of 5% of the past due amount or $50
• Returned Check or Insufficient Funds Charge: $30

• Your interest rate will depend on the loan term that you select.
• Interest rates are valid within the preceding 30 days.

• All loans are subject to credit approval.
• Must be a U.S. citizen or permanent resident alien without conditions and with proper evidence of eligibility.
• Must be at the age of majority or older at the time of loan application.
• Must have earned a bachelor’s degree or higher from an ELFI approved post-secondary institution and program of study.
• Must reside in a state in which ELFI is authorized to lend.

EdvestinU Refinance Loan

Granite Edvance and EdvestinU student loan products may be funded by Bank of Lake Mills, member FDIC, or Granite Edvance Corporation (NMLS ID# 1527348 www.nmlsconsumeraccess.org). Granite Edvance and EdvestinU are brand names of products offered by Granite Edvance Corporation.

APR or "annual percentage rate" is a calculation of what the loan will cost, taking into consideration interest, fees and length of loan. Accordingly, the APR is subject to increase or decrease due to factors such as changes in the interest rate of variable rate loans, changes in principal due to the capitalization of interest or presence of a cosigner.

Variable APR rates may increase or decrease depending on fluctuations in the 30-day Average SOFR index. Monthly interest rate accrual is based on the published 30-day Average SOFR Index as of the second to last business day of the previous month plus your applicable margin. If the 30-day Average SOFR Index is negative, it will be deemed to be equal to zero.

Lowest rate requires application with a cosigner and 0.25 percentage point interest rate reduction for automatic debit. Once the repayment period commences, the borrower may enroll in automatic debit. APR’s provided include a 0.25 percent interest rate reduction for authorizing our loan servicer to automatically debit your payments each month from your bank account.

Granite Edvance In-School Loan Products

Granite Edvance and EdvestinU student loan products may be funded by Bank of Lake Mills, member FDIC, or Granite Edvance Corporation (NMLS ID# 1527348 www.nmlsconsumeraccess.org). Granite Edvance and EdvestinU are brand names of products offered by Granite Edvance Corporation.

The Granite Edvance Student Loan requires the borrower to be a resident of NH or attending college in New Hampshire.

APR or "annual percentage rate" is a calculation of what the loan will cost, taking into consideration interest, fees and length of loan. Accordingly, the APR is subject to increase or decrease due to factors such as changes in the interest rate of variable rate loans, changes in principle due to the capitalization of interest or presence of a cosigner.

Variable APR rates may increase or decrease depending on fluctuations in the 30-day Average SOFR index. Monthly interest rate accrual is based on the published 30-day Average SOFR Index as of the second to last business day of the previous month plus your applicable margin. If the 30-day Average SOFR Index is negative, it will be deemed to be equal to zero.

Lowest rate requires application with a cosigner and 0.25 percentage point interest rate reduction for automatic debit. Private Loans that are in a deferment (including borrowers who elect deferred repayment), grace period, or forbearance are not eligible to enroll and receive the automatic debit benefit until they enter into repayment. Once the repayment period commences, the borrower may enroll in automatic debit. Borrowers electing to enroll in interest-only or immediate repayment are eligible to enroll in automatic debit once the initial disbursement on the loan has been made.

APR’s provided include a 0.25 percent interest rate reduction for authorizing our loan servicer to automatically debit your payments each month from your bank account.

INvestEd Refinance Loan Disclosures

Subject to credit approval, loans are made by INvestEd or Bank of Lake Mills. Bank of Lake Mills does not have an ownership interest in INvestEd. Bank of Lake Mills is Member FDIC.

¹These rates are expressed as APR.

Rates shown are for eligible, creditworthy applicants and requires shortest length of repayment and our Automatic Payment discount of 0.25 percentage points. Automatic payments are not required. Annual percentage rates (APR) listed are based on borrowing $10,000 in a single disbursement.

The Fixed rate will not change during the term.

The variable rate is subject to increase after consummation. The maximum variable interest rate is 18.00%. The variable interest rate that is charged to the borrower is reset quarterly, may increase or decrease, and is based on an Index and Margin. That means that your rate could move lower or higher than the rates on this form. The variable rate is based upon the average of the three-month forward term version of the 90-day Secured Overnight Financing Rate (SOFR) published by a source approved by the Alternative Reference Rate Committee (ARRC).

ELIGIBILITY DISCLOSURES

Student Lending Eligibility Criteria: Applicants must be a U.S. citizen, permanent resident, or eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For applicants who have not attained the age of majority in their state of residence, a co-signer is required. Citizens reserves the right to modify eligibility criteria at any time. Citizens private student loans are subject to credit qualification, completion of a loan application/Promissory Note, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens participating school.

Education Refinance Loan Eligibility: Applicants must have attained a bachelor’s degree or higher to refinance their loan.

Education Refinance Loan for Medical Residency Eligibility: Applicants must have graduated from medical school and be matched to a MD, DO, DDS, DMD, DPM, DVM, VMD, PharmD, OD residency or fellowship program at the time of application.

Education Refinance Loan for Parents Eligibility: The primary applicant must be the primary borrower or co-signer on the loan to be refinanced.

Student Loan Eligibility: Applicants must be enrolled at least half-time in a degree-granting program at an eligible institution.

Student Loan for Parents Eligibility: The student whose education expenses will be paid for with the loan proceeds must be a U.S. citizen or permanent resident and must be enrolled at least half-time in a degree granting program at a Citizens-participating school.

RATE DISCLOSURES

Variable Rate Disclosure: Variable interest rates are based on the 30-day average Secured Overnight Financing Rate (“SOFR”) index, as published by the Federal Reserve Bank of New York. As of Apr 01, 2025, the 30-day average SOFR index is 4.33%. Variable interest rates will fluctuate over the term of the loan with changes in the SOFR index, and will vary based on applicable terms, level of degree and presence of a co-signer. The maximum variable interest rate is the greater of 21.00% or the prime rate plus 9.00%.

Fixed Rate Disclosure: Fixed rate ranges are based on applicable terms, level of degree, and presence of a co-signer.

Lowest Rate Disclosure:Lowest rates are only available for the most creditworthy applicants, require a 5-year repayment term, include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, and repayment type selection of Interest-Only on In-School Loans and Immediate Repayment on Education Refinance Loans. Rates are subject to additional terms and conditions and are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.

Education Refinance Loan Rate Disclosure: Variable interest rates range from 6.17% - 12.36% (6.18% - 12.37% APR). Fixed interest rates range from 5.89% - 11.37% (5.90% - 11.38% APR).

Medical Residency Refinance Loan Rate Disclosure: Variable interest rates range from 6.17% - 11.92% (6.18% - 11.93% APR). Fixed interest rates range from 5.89% - 10.93% (5.90%- 10.94% APR).

Education Refinance Loan for Parents Rate Disclosure: Variable interest rates range from 7.22% - 11.98% (7.23% - 11.99% APR). Fixed interest rates range from 6.44% - 10.98% (6.45% - 10.99% APR).

Student Loan Rate Disclosure: Variable interest rates range from 4.99% - 15.51% (4.99% - 15.47% APR). Fixed interest rates range from 3.49% - 15.49% (3.49% - 14.99% APR).

Undergraduate Loan Rate Disclosure: Variable interest rates range from 4.99% - 15.51% (4.99% - 15.47% APR). Fixed interest rates range from 3.49% - 15.49% (3.49% - 14.99% APR).

Graduate Loan Rate Disclosure: Variable interest rates range from 4.99% - 14.06% (4.99% - 14.07% APR). Fixed interest rates range from 3.49% - 13.99% (3.49% - 13.62% APR).

Business/Law Loan Rate Disclosure: Variable interest rates range from 4.99% - 14.01% (4.99% - 13.74% APR). Fixed interest rates range from 3.49% - 13.99% (3.49% - 13.58% APR).

Medical/Dental Loan Rate Disclosure: Variable interest rates range from 4.99% - 12.44% (4.99% - 12.08% APR). Fixed interest rates range from 3.49% - 12.22% (3.49% - 10.90% APR).

Parent Loan Rate Disclosure: Variable interest rates range from 6.01% - 9.62% (6.01% - 9.63% APR). Fixed interest rates range from 5.99% - 10.60% (5.99% - 10.61% APR).

STUDENT LENDING PROGRAM DISCLOSURES

Wireless Charges: Wireless carrier, text, and/or data charges may apply.

Loyalty Discount: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: personal checking, personal savings, personal credit card or previous student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DC, DE, FL, MA, MD, MI, NH, NJ, NY, OH, PA, RI, VA, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.

Investors Bancorp, Inc. Loyalty Discount: To receive the Loyalty Discount for having a qualifying account with Investors Bancorp, Inc., borrowers must contact Citizens by telephone prior to signing the promissory note. Student loan borrowers please call (877) 291-6385 and education refinance borrowers please call (888) 411-2413.

Automatic Payment Discount: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.

Get My Rate: Selecting “Get My Rate” only requires a “soft credit pull“ which does not affect your credit score. Submitting a full application will result in an inquiry on your credit report.

Multi-Year Approval: Funds available for future use are subject to a soft credit inquiry at time of your next request to verify continued eligibility. After we make the initial Loan to you, you must continue to meet eligibility criteria to obtain additional funds under the Multi-Year Approval feature. Terms and conditions are outlined in the promissory note. Multi-Year Approval borrowers have a 99% approval rate on future requests for additional funds. The additional funds approval rate is based on the percentage of approved Multi-Year borrowers from Citizens between October 1, 2023 and October 1, 2024. The approval rate represents only borrowers who had previously accepted the Multi-Year Approval offer. Please Note: International students are not eligible for Multi-Year Approval.

Co-signer Release: Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest. For the purpose of the application for co-signer release, on-time payments are defined as payments received within 15 days of the due date. Interest only payments do not qualify. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release. Borrowers must complete an application for release and provide income verification documents as part of the review. Borrowers who use deferment or forbearance will need to make 36 consecutive on-time payments after reentering repayment to qualify for release. The borrower applying for co-signer release must be a U.S. citizen or permanent resident. If an application for co-signer release is denied, the borrower may not reapply for co-signer release until at least one year from the date the application for co-signer release was received. Terms and conditions apply. Borrowers whose loans were funded prior to reaching the age of majority may not be eligible for co-signer release. Note: co-signer release is not available on the Student Loan for Parents or Education Refinance Loan for Parents. 98% of Citizens Undergrad Booked Loans from 6/1/24 through 9/30/24 were cosigned. Citizens Undergraduate Booked Loans from 10/1/2023 through 9/30/2024 were 4 times more likely to be approved with a qualified cosigner.​

Student Loan Aggregate Limits: You may borrow up to the maximum qualified loan amount or the total cost of education, whichever is lower. Our student loan does have lifetime aggregate limits (including both federal and private loan debt) of: Undergraduate Degree: $225,000, Graduate Degrees: $225,000, MBA and Law: $300,000, Healthcare: $250,000 or $400,000 depending on your degree (Aggregate limits up to $400,000 for MD, DMD/DDS, OD, DO, DPM, PharmD, and DVM degrees. Aggregate limits up to $250,000 for cardiac perfusion, chiropractic, cytotechnology, nurse practitioner, occupational therapy, physical therapy, and physician assistant degree).

Employer & Organizational Partnerships: To qualify for the principal balance reduction, the borrower or co-signer (if applicable) must have applied, be approved, and disburse a Citizens Education Refinance Loan, Education Refinance Loan for Parents, or a Medical Residency Refinance Loan through the employer’s dedicated Citizens website. The principal balance reduction will be calculated as 1% of the amount financed with a maximum of $1,000. The loan must be in good standing at the time the Principal Balance Reduction Benefit is applied. Only one Principal Balance Reduction Benefit is allowed per borrower. If you receive a Principal Balance Reduction Benefit on a Citizens Student Loan or Student Loan for Parents you will not be eligible for another Principal Balance Reduction Benefit on a Citizens Education Refinance Loan, Education Refinance Loan for Parents or a Medical Residency Refinance Loan. Principal balance reduction will be applied with an effective date equal to the loan’s first disbursement date. Principal balance reduction may take up to the second month following the loan’s final disbursement date to be applied and may be reduced if the loan amount is reduced or cancelled. The Principal Balance Reduction Benefit will be processed as a reduction of the loan’s principal balance and will not impact the required monthly payment. The borrower is solely responsible for any taxes that may be owed as a result of the principal balance reduction earned. A tax advisor should be consulted. Citizens Bank, N.A. does not provide tax advice. Offer cannot be combined with other promotions, discounts or offers – automatic payment and loyalty discounts excluded. Citizens reserves the right to modify these terms or cancel this offer at any point in the future for new applications.

Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer. Borrowers should carefully review federal benefits, especially if they work in public service, are in the military, are considering possible loan forgiveness options, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans. For more information about federal student loan benefits and federal loan consolidation, visit https://studentaid.gov/. We also have several resources available to help the borrower make a decision on our website including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.

U.S. Dept. of Education Fee: The Federal Direct PLUS Loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. For Loans first disbursed between October 1, 2020 and before October 1, 2025 the origination fee is 4.228%.

Student Loan Repayment: Student borrowers can make full payments or pay interest only while in school or defer payments until after graduation (interest continues to accrue during deferment periods).

Medical Residency Refinance Loan Repayment Example with $100 Monthly Payment: Based on a 48 month residency, a fixed rate 5 year loan for $10,000 at 6.85% APR results in 53 monthly payments of $100 (includes residency period and 6-month grace period), followed by 60 monthly payments of $145.09. $100 monthly payment begins immediately after loan disbursement for the duration of the residency or fellow program period up to 48 months, plus 6 month grace period.

Citizens Scholarship: (For Sweepstakes Period: 07/01/2024-03/31/2025) No purchase necessary. Void where prohibited. The Citizens Scholarship Sweepstakes is open to legal residents of the 50 United States, D.C., and U.S. Territories, who are 16 years of age or older, are students, or prospective students, or parents or legal guardians of students intending to enroll or enrolled at least half-time in an accredited undergraduate/graduate post-secondary institution. To be eligible for a chance to win the Citizens Building the Workforce of the Future Scholarship entrants must be from an underrepresented or a low-income community as described in the Official Rules. Sweepstakes begins at 12:00 AM ET on 7/1/24 and ends at 11:59 PM ET on 3/31/25. Sponsored by Citizens. See Official Rules for details.

Citizens Student Credit Builder™: Citizens Student Credit Builder™ refers to loans with either an Immediate or Interest Only repayment option chosen at the time the loan is originated. Credit scores are based on established borrower payment behaviors. By choosing a loan repayment option that requires payment while the student is in school, the borrower begins their history of payments earlier than a corresponding borrower that chooses a deferred repayment option. Additionally, an equally qualified borrower and/or cosigner with similar loan terms will receive a lower interest rate with an Immediate or Interest Only repayment option.

SAVINGS DISCLOSURES

Education Refinance Loan Average Monthly Payment Savings: The average monthly and annual payment savings estimated amount is based on 2,543 Citizens Education Refinance Loan customers who refinanced their loans between March 1, 2024 and March 1, 2025 and who received a lower payment. The calculation is derived by averaging the monthly payments prior to refinancing minus the monthly payments after refinancing. Excluded are monthly savings reported from customers that exceeded $9,375 or were lower than $20 to minimize risk of data error skewing the savings amounts. Savings vary based on interest rates, balances and remaining repayment term of loans to be refinanced. Your overall repayment amount may be higher than the loans you are refinancing even if your monthly payments are lower.

Education Refinance Loan Weighted Average Interest Rate Savings: Weighted average interest rate savings is based on 2,566 Citizens Education Refinance Loan customers who lowered their interest rate on loans between March 1, 2024 and March 1, 2025. The calculation is derived by averaging the rate savings across Citizens Education Refinance Loan customers whose interest rates decreased after refinancing, calculated by taking the weighted average interest rate prior to refinancing minus the interest rate after refinancing. We excluded rate savings from customers that exceeded 15.11% and were lower than 0.25% to minimize risk of data error skewing the rate savings amounts. Your interest rate savings might vary based on the interest rates you qualify for, chosen terms and previous interest rate of the loans you are seeking to refinance. Your overall interest rate may be higher than the interest rate on the loans you are refinancing even if your monthly payments are lower.

Parent Loan Savings: Origination fee savings of $771 are calculated using the Federal Direct Plus Loan origination fee of 4.228% (for loans first disbursed between 10/1/24 and 9/30/25) and an average amount financed of $18,247 as compared to the Citizens Student Loan for Parents, which has no origination fees.

Graduate Loan Savings: Origination fee savings of $865 are calculated using the Federal Direct Plus Loan origination fee of 4.228% (for loans first disbursed between 10/1/24 and 9/30/25) and an average amount financed of $20,480 as compared to the Citizens Student Loan, which has no origination fees.

APPLICATION & SOLICITATION DISCLOSURES

Citizens Student Loan™ for Students - 5, 10, 15 Year Application Solicitation Disclosure

Citizens Student Loan™ for Parents - 5, 10 Year Application Solicitation Disclosure

Citizens Education Refinance Loan™ 20 Year Prescreened Application & Solicitation Disclosure

Citizens Education Refinance Loan™ 20 Year Prequalified Application & Solicitation Disclosure

Additional Application Solicitation Disclosures may be obtained by calling the Customer Service Team at (877) 464-6329 and copies of the disclosures will be provided via email. Our hours are Monday through Friday, 8:00am - 9:00pm EST.

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