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Why Refinance Your Loan?

Refinancing lets you replace your current student loan with a new loan that has better terms, such as a lower interest rate or a more flexible repayment schedule.

Cut down your monthly EMI

Lower your overall interest cost

Simplify multiple loan payments into one

Remove your cosigner in certain cases

Case Study

A real example shows how refinancing can make a difference:
With a $60,000 education loan over 10 years, one of our students was paying $915 per month. After refinancing, the EMI dropped to $615 — a 33% reduction freeing up $300 every month for savings and living expenses.

Monthly Saving

$0

$300

Get Started
Before Refinancing
15% interest rate
Higher financial burden
$915 EMI Monthly
After Refinancing
5.5% interest rate
More disposable income
$615 EMI monthly

How the Refinancing Process Works

Refinancing is simple — here’s how it typically goes :

1

Prepare Your Profile

Collect essential details like your employment status, income, and loan statements.

2

Explore Options

Compare offers from multiple lenders based on interest rates, terms, and eligibility without affecting your credit score.

3

Choose Your Terms

Select the offer that best fits your financial plan.

4

Complete Your Application

Submit your information online and finalize your refinancing. Providing your current employment or loan details will be part of this stage.

TESTIMONIALS

Our Trusted

Student's

Real Experiences, Real Success Stories

Priyanka Peroth

I strongly suggest Study Bank to anyone planning to study abroad. The team was well-informed, and the details they provided were precise and current.

Meena

The VISA assistance was a lifesaver. I had no idea how to go about the visa process, but the team made it so easy for me. I got my visa approved within no time.

Kiran Kumar

I was very nervous about the whole process of studying abroad, but the team at the overseas educational consultant website made it so much easier for me. They were always there to support and guide me

Rahul Mehta

Study Bank made my dream of studying abroad come true! The loan process was quick, and their team guided me at every step. Highly recommended!

Key Benefits of Refinancing

Making Your Study Abroad Dreams a Reality

Lower Interest Rates

Get access to competitive interest rates starting as low as 3.99% APR to reduce your total repayment cost.

Free Your Cosigner

Refinance your loan and release your cosigner from financial responsibility (if eligible).

Reduced Monthly Payments

Lower monthly EMIs help improve your cash flow — with no application or origination fees on select plans.

Flexible Repayment Terms

Choose repayment timelines that match your financial goals and needs.

Frequently Asked Questions (FAQs)

Refinancing means taking out a new loan to pay off your current one — usually with better interest rates or repayment conditions.
Yes — depending on the new interest rate and repayment term you choose, liquidity can improve significantly.
Student loan refinancing allows you to replace one or more existing education loans with a new loan that offers improved terms. The new lender pays off your old loan(s), and you’re left with a single loan, one interest rate, and one monthly payment, making repayment simpler and more manageable.
Refinancing can help you:
  • Pay off your loan faster
  • Reduce your monthly EMI
  • Lower the total interest paid over time
  • Simplify multiple loans into one payment
It’s a smart option if your current loan terms no longer fit your financial situation.
No. To qualify for refinancing through our platform, you must have completed your degree and be employed full-time. Lenders require proof of stable income before approving refinancing applications.
1. Credit Profile :
Lenders review your credit score and credit history to assess risk. A higher credit score increases your chances of securing a lower interest rate. Most lenders prefer a score of 650 or above, though stronger profiles receive better offers.
2. Income & Employment :
Your income helps lenders evaluate your ability to repay the loan. Generally, higher and more stable income improves eligibility and pricing.
3. Existing Financial Obligations :
Lenders consider your current debts to ensure you can manage all repayments. A high debt load may affect approval, even with good income and credit.
4. Chosen Repayment Terms :
Your selected loan tenure and rate type impact interest rates.
  • Variable rates may offer lower starting rates but can change over time.
  • Shorter repayment periods often come with lower interest rates compared to longer terms.
Not always — many lenders offer refinancing options without requiring a cosigner.