Student Refinance


Refinance student loans and other debt with a Personal Line of Credit

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2.25–3.50 % APR[1]
LOWEST FIXED RATES WITH DISCOUNTS

While the Personal Line of Credit is not a student loan, it offers you options to reduce the burden of student loans and other debt. By refinancing with a lower interest rate, you have the opportunity to get out of debt faster with new term options and no prepayment fees.

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  • refinance your student loans

    Refinance your student loans

  • cover home expenses

    Cover minor home improvements

  • buy or refinance a car

    Buy or refinance a car

  • pay for medical or dental procedures

    Pay for medical or dental procedures

  • plans for your family's future

    Plan for your family's future

  • pay your taxes

    Pay your current taxes

Why use a Personal Line of Credit to refinance student loans and other debt?

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Lower interest rates

Get instant peace of mind and an opportunity to save more in the long term with our low fixed-rate options.[2]

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No loan fees

Pay off your student loan debt and more using a Personal Line of Credit with no origination, maintenance or prepayment fees.

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Flexibility

Choose the rate and term options that work best for you, with the flexibility to refinance student loans, auto loans, cover minor home expenses or fund large purchases.

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Note: By refinancing student loans, you may permanently be giving up tax and repayment benefits, including forbearance, deferment and forgiveness. Please consider this as you make a decision to refinance student loans, and talk to a banker if you have any questions.

Additional features of a Personal Line of Credit

 

Interest-only payments

Enjoy the peace of mind of only paying interest on what you draw for the first two years. You can also make additional principal payments at any time.   

Revolving access to credit

To pay for future expenses, you can access additional funds on top of the amount of debt you are looking to refinance. Plus, the amount you repay will be available to draw on again during the first two years.   

Convenience

When you’re ready to refinance, we’ll combine any of your existing student loans into one simple monthly payment.  



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See how First Republic compares when using our Personal Line of Credit to refinance your student loans.[3]

Note: Our rates start at 2.25% APR for a 7 year term with discounts, compared to starting rates of 2.59% APR for a 5 year term with our competitors below.

  • Annual Percentage Rate
    (with discounts)
  • Loan Size
  • Loan Term
  • Interest-Only Period
  • No Loan Fees
    (Origination, Maintenance or Prepayment)
  • Flexible Use of Funds

  • Personal Line of Credit
  • 2.25%–3.50% APR
    (fixed)
  • $60,000–$350,000[4]
  • 7, 10, 15 years
  • 2 years

  • SoFi
    Student Loan Refinancing

  • 2.99%–6.94% APR
    (fixed)
  • $5,000–$500,000
  • 5, 7, 10, 15, 20 years

  • CommonBond
    Student Loan Refinancing

  • 2.59%–6.74% APR
    (fixed)
  • $5,000–$500,000
  • 5, 10, 15 years

  • Laurel Road
    Student Loan Refinancing

  • 2.80%–6.00% APR
    (fixed)
  • $5,000–$300,000
  • 5, 7, 10, 15, 20 years


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What else can you do with a Personal Line of Credit?

Learn more about the features and benefits of our Personal Line of Credit and how to use it beyond refinancing student loans.


cover home expenses

Fund minor home improvements
buy or refinance a car

Buy or refinance a car

pay for medical or dental procedures

Pay for medical or dental procedures

plans for your family's future

Plan for your family's future

pay your taxes

Pay your current taxes

See your rate (2 min)

What else can you do with Personal Line Of Credit?

when it comes to paying down student loan debt or achieving your other financial goals, you don't always have to choose one or the other. Balancing these priorities is often in the best interest of your financial future.

cover home expenses

Cover home expenses

buy or refinance a car

Buy or refinance a car

pay for medical or dental procedures

Pay for medical or dental procedures

plans for your family's future

Plans for your family's future

pay your taxes

Pay your taxes

 
See your rate (2 min)

Learn more about Personal Line Of credit

FAQs when
refinancing student loans with us

  • I’m looking to refinance my student loan debt. What happens if I get a Personal Line of Credit instead?
  • Can I refinance my private student loans with a Personal Line of Credit? What about federal loans?
  • How often can I refinance my student loans?
  • Can I use a Personal Line of Credit beyond refinancing student loans?
  • How are my loan payments structured?
  • What are the requirements to receive the lowest listed rates?
  • I have more questions about Personal Line of Credit and how to use it.

Articles and Insights

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Banking products and services are offered by First Republic Bank, Member FDIC and Equal Housing Lender

1 Annual Percentage Rate. Rates effective as of June 15, 2020, and are subject to change.

Borrower must open a First Republic ATM Rebate Checking account. Terms and conditions apply to the Account. If the Account is closed, the rate will increase by 5.00%. Rates shown include relationship-based pricing adjustments of: 1) 2.00% for maintaining automatic payments and direct deposit with the Account, 2) 0.50% for depositing and maintaining a deposit balance of at least 10% of the approved loan amount into the Account, and 3) an additional 0.25% for depositing and maintaining a deposit balance of at least 20% of the approved loan amount into the Account.

Minimum $500 to open an ATM Rebate Checking account. A monthly fee (currently $25) will apply if a minimum monthly average balance of $3,500 is not maintained. Domestic and foreign ATM access fees are rebated at the end of the monthly cycle. Foreign currency conversion and other usage fees vary by country and network and are not included in the rebated ATM access fees.

2 Personal Line of Credit consists of a two-year, interest-only, revolving draw period followed by a fully amortizing repayment period of the remainder of the term. Draws are not permitted during the repayment period. This product can only be used for personal, family or household purposes. It cannot be used for the following (among other prohibitions): to refinance or pay any First Republic loans or lines of credit, to purchase securities or investment products (including margin stock), for speculative purposes, for business or commercial uses, or for the direct payment of post-secondary educational expenses. This product cannot be used to payoff credit card debt at origination. The terms of this product may differ from terms of your current loan(s) that are being paid off, including but not limited to student loans. By repaying such loans, you may permanently be giving up tax and repayment benefits, including forbearance, deferment and forgiveness, and you may not be able to reobtain such benefits if this loan is refinanced with another lender in the future.

3 Lowest advertised rates and pricing adjustments for First Republic Bank and competitors. Based on rates and product information listed on competitor websites as of 4/5/2021. Student Loan Refinancing Sources: SoFi, Laurel Road, and CommonBond.

4 Personal Line of Credit minimum is $60,000; maximum is the lesser of $350,000 or debt to be repaid at origination plus $100,000. If no debt to be repaid at origination, the maximum loan amount is $100,000. Line of credit cannot be fully drawn at origination.

Contact your legal, tax and financial advisors for advice on deciding whether this is the right product for you. Terms and conditions apply. Product is not available in all markets. For a complete list of locations, visit the locations page. Applicants must meet a First Republic banker to open account. This is not a commitment to lend; all lending is subject to First Republic’s underwriting standards. Applicants should discuss line of credit terms, conditions and account details with their banker.

© 2021 First Republic Bank.

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