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.
See how refinancing your student loans with us could add up to significant savings for you. Whether you want to shorten your repayment term or lower your monthly payment or interest rate, refinancing could help you save on interest or pay off your loan sooner.
How lower rates or shorter loan terms can help you save thousands.2
See how much you can save by using our payment calculator to compare your options.
Our Current Student Loan Refinance Rates
| Term | Fixed APR With Discount | Variable APR With Discount |
|---|---|---|
| 5 Year | ||
| 7 Year | ||
| 10 Year | ||
| 15 Year | ||
| 20 Year |
All rates shown include the AutoPay 0.25% interest rate discount.3 Variable APRs are subject to increase after consummation. Lowest APR(s) reserved for the most credit worthy applicants.4 See payment examples.
Student Loan Refinance Calculator
See how your current student loan payments compare to what you could get by refinancing with us.
Student Loan Consultation
Weigh your options with expert guidance.
See if refinancing is right for you and get the facts on student loan repayment, forgiveness, and other options.
Schedule a 30-minute consultation with a student loan specialist.
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Looking for new funding for college?
Answers to common questions about refinancing student loans.
If you are refinancing any federal student loans with KeyBank, you will no longer be able to take advantage of federal income driven repayment programs or student loan forgiveness, including but not limited to: Income-Based Repayment (IBR), Pay As You Earn (PAYE) or Revised Pay As You Earn (REPAYE), and Public Service Loan Forgiveness (PSLF). For more information about the benefits of these federal programs and other federal student loan programs, please visit studentaid.gov.
Refinancing student loans with us is simple — you complete the application online and can receive a preliminary rate in as few as 5 minutes.
- Request preliminary rates. Complete the application and include basic information about your loan, education, and employment. Once you authorize a soft credit pull and provide sufficient information, you will receive your preliminary rates, which are subject to change following further underwriting review and a hard credit pull.
- Complete the application. Upload supporting documents and authorize a hard credit pull. Once we receive your application, we will underwrite your loan and provide you with your final rates and loan terms if approved.
- Select your loan type and term. Securely e-sign all necessary disclosures and your promissory note online.
- We pay off your student loans. We send the money to your current lenders and provide you with instructions to set up the servicing of your new loan. Your first payment to Laurel Road will be due one month from your disbursement date.
KeyBank refinances student loans for working professionals with four-year undergraduate and/or graduate degrees from Title IV-accredited institutions, as well as for professionals who have an associate degree* in designated professions. Graduate students and undergraduates can refinance student loans as early as their final semester of school, so long as they have a signed contract or letter of employment. We also refinance student loans for parents who took out debt to finance their child’s education. To be eligible for the Parent Student Loan Refinancing Program, the child must have attended a Title IV School but does not need to have graduated. Loan eligibility depends on lending criteria, such as your credit profile, monthly income, and monthly debt payments.
*Additional eligibility requirements for associate degree applicants:
The applicant must have been employed for a minimum of 12 months in the same field of study of the associate degree. Also, the applicant must either (1) be currently enrolled in and in the final term of the associate degree program at a Title IV-eligible school or (2) have graduated from a school that is Title IV eligible with an associate degree in the following eligible programs:
- 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
- Surgical Technologist
- Associate Degree of Applied Science (AAS) in any of the above fields
Yes, we refinance student loans for parents who took out debt to finance their child’s education. To be eligible for the Parent Student Loan Refinancing Program, the child must have attended a Title IV School, but does not need to have graduated. Loan eligibility depends on lending criteria, such as your credit profile, monthly income, and monthly debt payments.
Refinancing your student loans may add up to significant savings. For example, if you refinance multiple loans into one loan with a lower rate and keep the loan term the same, you will accrue less interest, saving you money on a monthly basis and over the life of the loan.
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.
The calculator on this page compares an individual's current student loan to a student loan refinanced with KeyBank. The calculator assumes: (1) the current loan is repaid under a standard repayment plan where the individual makes consecutive monthly payments based on the number of monthly payments remaining on the loan as indicated by the user; (2) the current loan has a fixed rate over the remaining term of the loan; and (3) that the monthly payment amount the user enters pays off the loan in the number of monthly payments remaining.
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice, legal, financial, or tax advice. We cannot and do not guarantee their applicability or accuracy regarding your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. Calculators do not include the fees and restrictions that certain products may have. This calculator does not indicate whether you would qualify for a KeyBank loan. Please visit the applicable banking product pages on key.com for specific terms and conditions.
1
Checking your rate for Key Student Loan Refinance only requires a soft credit pull, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score.
2
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.
3
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.
4
Annual Percentage Rate (APR) shown are as of March 14, 2026 and subject to change without notice. Based on applications between 1/1/2024 and 6/30/2024, approximately 10% of applicants qualified for our lowest advertised rate. Lowest rate quoted above assumes excellent credit and low debt, housing, and alimony expenses relative to income. Otherwise, a higher rate may apply. Rates shown above include a 0.25% discount for AutoPay. Variable APRs are subject to increase after consummation.
Estimated Student Loan Refinance Payment Examples
Assumptions: Repayment examples below assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not 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”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.
Interest Rate: A simple annual rate that is applied to an unpaid balance.
Variable Rates: The current index for variable rate loans is derived from the 30-day Average Secured Overnight Financing Rate (“SOFR”) and changes in the SOFR index may cause your monthly payment to increase. Although the rate will vary after you are approved, it will never exceed 15.00%. The Index is currently published by the Federal Reserve Bank of New York (“New York Fed”). If the Index is no longer available, it will be replaced by a replacement Index according to 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.