Student Loan Refinancing

The amount you owe in student loans have long term impacts on your overall financial wellbeing. That's why managing your student loan repayment plan is critically important. When managed well, you could potentially save thousands of dollars over the life of your loan. 

Is student loan refinancing right for you?

Refinancing means you replace your current loan(s) potentially at a lower interest rate. Lenders "buy-out" your loan(s) from your existing loan servicers - both private and federal - and issue you a new loan equal to your outstanding student loan balance(s).

Consider refinancing your student loan(s) if you:

  • have high interest rates
  • have high monthly payments
  • want to shorten, or legthen, the term of the loan
  • want to switch from a variable rate to a fixed rate (or vice versa)
  • are a loan co-signer or borrower for someone else

Refinancing your student loans can mean potentially paying less over time with lower monthly payments and/or lower interest rates. Keep in mind, however, when you refinance your student loans, you may be trading in your federal loan for a private loan.

Refinancing your student loan comes with pros and cons. Make sure that it’s right for you:


  • Single loan servicer
  • Potentially lower interest rate
  • Single payment
  • Conclude both private and federal loans
  • More terms-of-loan options


  • No federal repayment options
  • Limited deferment or forbearance opportunities
  • No loan forgiveness opportunity
  • Must qualify financially

Explore your options

There's no guarantee that any lender will offer you better terms on your student loans than you have now, but it's worth looking at refinancing simply because of the savings potential. 

Through an agreement between MassMutual and Commonbond, a leading student loan refinancing company, a perfrerred interest rate is available to you. It only takes a few minutes to see what that rate may be; it's an easy process that won't impact your credit score. 2

Start exploring your options (and your preferred rate) here.

1. Availability varies by lender.
2. When you check your rates, CommonBond conducts a soft credit pull that will not affect your credit score. However, if you continue your application, CommonBond will request your permission to obtain your full credit report from one or more consumer reporting agencies. This is a hard credit pull and may affect your credit score.


Loans are subject to state law restriction and offered through CommonBond Lending,
LLC (NMLS #1175900).