IMPORTANT INFORMATION: Please note that if you refinance qualifying federal student loans, you will no longer be eligible for certain federal benefits or programs and waive your right to future benefits or programs offered on those loans, which may include, but are not limited to, Public Service Loan Forgiveness, Income-Driven Repayment plans, forbearance, or certain forgiveness options granted to Parent Plus borrowers. Please carefully consider your options when refinancing federal student loans and consult www.studentaid.gov for the most current information.
Check your rates and see if refinancing your student loans with KeyBank could reduce your monthly payment or help you lower your interest rate or pay off your loans faster.1 See your personalized rates in minutes to see if you could save on your student loans.
See if refinancing is right for you.
If you’re ready to explore the benefits of refinancing, we’re here to help. Check your rates today and see if refinancing could help you save with a lower rate or shorter term.
- Competitive rates and terms. Rates start at 4.74%2 fixed APR
- Check your rates in minutes. No hard credit pull is required3
- Simplified online process. No application or origination fees
- Convenient savings. Get an additional 0.25% rate discount4 when you set up automatic monthly payments (AutoPay)
Note that refinancing federal student loans with a private lender means you will lose access to federal benefits and protections, such as federal forbearance and forgiveness programs, so visit studentaid.gov to make sure you understand all your options.
Estimated Student Loan Refinance Payment Examples
See how different rates and terms could impact your monthly payment. These examples show the APR, monthly payments, and total payments based on a loan amount of $100,000 with repayment beginning immediately following disbursement. Repayment examples include the 0.25% AutoPay Discount.
Fixed Rate Loans
| Term | Interest Rate | APR | No. of Payments | Monthly Payment | Total Payments |
|---|---|---|---|---|---|
| 5 Year | |||||
| 7 Year | |||||
| 10 Year | |||||
| 15 Year | |||||
| 20 Year |
Variable Rate Loans
| Term | Interest Rate | APR | No. of Payments | Monthly Payment | Total Payments |
|---|---|---|---|---|---|
| 5 Year | |||||
| 7 Year | |||||
| 10 Year | |||||
| 15 Year | |||||
| 20 Year |
Annual Percentage Rate (“APR”): The cost of borrowing expressed as a yearly rate, including interest and any applicable fees.
Interest Rate: The simple annual rate applied to the unpaid principal balance and included in the APR.
Variable rates are based on the 30‑day Average Secured Overnight Financing Rate (SOFR) and may increase or decrease over time, which could cause your monthly payment to change. Variable rates will never exceed 15.00%. The SOFR index is published by the Federal Reserve Bank of New York. If the index is no longer available, it will be replaced in accordance with the terms of the promissory note.
This information is current as of June 23, 2026. Information and rates are subject to change without notice.
Understanding interest rates: fixed vs. variable rates
When refinancing your student loans, you'll choose between a fixed or variable interest rate – and understanding the difference can help you make the right decision for your financial goals.
- Fixed rates. These rates stay the same throughout your loan term, giving you predictable monthly payments that won't change with market conditions.
- Variable rates. These rates can change periodically based on market conditions, which means your monthly payment may fluctuate. However, variable rates often start lower than fixed rates, and if interest rates drop, you could save money over the life of your loan.
Which rate is right for you?
All federal student loans have fixed interest rates. When you refinance with KeyBank, you'll have the option to choose between fixed or variable rates. Your choice may depend on your comfort with risk. A fixed rate offers stability and predictability. A variable rate could save you money if rates drop — particularly if you plan to pay off your loan quickly.
To learn more, check your rates or schedule a free consultation with a KeyBank student loan consultant.
All credit products are subject to credit approval.
IMPORTANT INFORMATION: Please note that if you refinance qualifying federal student loans, you will no longer be eligible for certain federal benefits or programs and waive your right to future benefits or programs offered on those loans, which may include, but are not limited to, Public Service Loan Forgiveness, Income-Driven Repayment plans, forbearance, or certain forgiveness options granted to Parent Plus borrowers. Please carefully consider your options when refinancing federal student loans and consult www.studentaid.gov for the most current information.
This information is provided for informational purposes only and is not intended to constitute professional financial, legal, accounting, or tax advice. KeyBank is a private national banking association and is not affiliated with, endorsed by, or acting on behalf of the United States Department of Education. We do not guarantee outcomes, estimates, availability, or timeframes. We offer an optional, complimentary service to clients who seek assistance in exploring student loan funding options.
1
Savings vary based on rate and term of your existing and refinanced loan(s). Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Review your loan documentation for total cost of your refinanced loan.
2
Annual Percentage Rates (APRs) shown are current as of June 23, 2026 and are subject to change based on market conditions and underwriting considerations. APRs may vary based on loan amount and loan term, and an applicant’s credit profile, income, and existing financial obligations. Based on applications submitted between 1/1/2024 and 6/30/2024, approximately 10% of applicants qualified for the lowest advertised APR. The lowest advertised rate is available only to applicants with excellent credit who meet all underwriting criteria. Rates shown include a 0.25% interest rate discount for enrollment in AutoPay. The AutoPay discount requires automatic payments from an eligible account and may be removed if AutoPay is canceled or payments are unsuccessful. Variable APRs may increase after loan consummation. All credit products are subject to credit approval, and not all applicants will qualify for the lowest advertised rate.
3
Checking your rate with KeyBank requires a soft credit pull, which generally does not affect your credit score. To proceed with an application, a hard credit pull is required and could affect your credit score. For more information, visit Consumer Financial Protection Bureau
4
If you choose to make monthly payments automatically by electronic fund transfer (EFT) from a bank account, the rate will decrease by 0.25% and will increase back if you stop making monthly payments (or we stop accepting) automatically by EFT from your bank account. The 0.25% AutoPay/EFT Discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay then loan down faster.
Estimated Student Loan Refinance Payment Examples
The repayment examples below assume a $100,000 loan amount with repayment beginning immediately after disbursement. Examples include a 0.25% interest rate reduction for enrolling in AutoPay. Actual rates and payments will vary based on creditworthiness, loan terms, and other factors.
| Fixed Rate Loans | |||||
| Term | Interest Rate | APR | No. of Payments | Monthly Payment | Total Payments |
|---|---|---|---|---|---|
| 5 Year | |||||
| 7 Year | |||||
| 10 Year | |||||
| 15 Year | |||||
| 20 Year | |||||
| Variable Rate Loans | |||||
| Term | Interest Rate | APR | No. of Payments | Monthly Payment | Total Payments |
|---|---|---|---|---|---|
| 5 Year | |||||
| 7 Year | |||||
| 10 Year | |||||
| 15 Year | |||||
| 20 Year | |||||
Annual Percentage Rate (“APR”): The cost of borrowing expressed as a yearly rate, including interest and any applicable fees.
Interest Rate: The simple annual rate applied to the unpaid principal balance and included in the APR.
Variable rates are based on the 30‑day Average Secured Overnight Financing Rate (SOFR) and may increase or decrease over time, which could cause your monthly payment to change. Variable rates will never exceed 15.00%. The SOFR index is published by the Federal Reserve Bank of New York. If the index is no longer available, it will be replaced in accordance with the terms of the promissory note.
Eligibility Requirements
ELIGIBILITY & ELIGIBLE LOANS
Borrower, and Co-signer if applicable, must state that they are of at least borrowing age in the state of residence at the time of application; and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).
Borrowers may refinance any unsubsidized or subsidized Federal or private student loan that was used exclusively for qualified higher education expenses (as defined in 26 USC Section 221) at an accredited U.S. undergraduate or graduate school.
Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment.
For Associates Degrees: Only associates degrees earned in one of the following are eligible for refinancing: Cardiovascular Technologist (CVT); Dental Hygiene; Diagnostic Medical Sonography; EMT/Paramedics; Nuclear Technician; Nursing; Occupational Therapy Assistant; Pharmacy Technician; Physical Therapy Assistant; Radiation Therapy; Radiologic/MRI Technologist; Respiratory Therapy; or Surgical Technologist. To refinance an Associates degree, a borrower must also either be currently enrolled and in the final term of an associate degree program at a Title IV eligible school with an offer of employment in the same field in which they will receive an eligible associate degree OR have graduated from a school that is Title IV eligible with an eligible associate and have been employed, for a minimum of 12 months, in the same field of study of the associate degree earned.
LOAN AMOUNT
For bachelor’s degrees and higher, up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing.
For eligible Associates degrees in the healthcare field (see Eligibility & Eligible Loans section above), Lender will refinance up to $50,000 in loans for non-Parent PLUS refinance loans. Note, parents who are refinancing loans taken out on behalf of a child who has obtained an associates degrees in an eligible healthcare field are not subject to the $50,000 loan maximum.
FEE INFORMATION
There are no origination fees or prepayment penalties associated with the loan. Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.