Our goal at Credible Operations, Inc., NMLS No. 1681276, referred to as “Trusted” below, is to provide you with the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who compensate us for our services, all opinions are our own.

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The latest trends in interest rates for student loan refinance from a trusted marketplace, updated weekly. (iStock)

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Rates fell last week for eligible borrowers using Credible Marketplace refinance student loans In 10 year fixed loan and 5 year variable-rate loan.

For borrowers with a credit score of 720 or higher who used Trusted Marketplace to select a lender during the week of September 27, 2021:

  • 10-year fixed-rate loan rates averaged 3.36%, up from 3.41% a week ago and 4.09% a year ago. This is the lowest rate in the last 15 months.
  • Rates for 5-year variable rate loans averaged 2.65%, down from 2.93% a week ago and 3.25% a year ago. Variable-rate loans were at their lowest in the last 15 months in the week of August 23, 2021, when they reached 2.53%.

Student Loan Refinance Weekly Rate Trends


If you are curious about what types of student loan refinance rates you may qualify for, You can use an online tool like Credible To compare the options of different private lenders. Checking your rates will not affect your credit score.

Current Student Loan Refinance Rates by FICO Score

To provide relief from the economic effects of the COVID-19 pandemic, interest and payments on federal student loans have been at least . suspended through January 31, 2022. As long as it’s relief, there’s little incentive for it Refinance Federal Student Loans. But many borrowers with private student loans are taking advantage of the low interest rate environment to refinance their education loans at lower rates.

If you qualify for your student loan refinance, the interest rate offered to you may depend on factors such as your FICO score, the type of loan you are seeking (fixed or variable rate), and the loan repayment term.


The chart above shows that good credit can help you get lower rates and that loans with fixed interest rates and longer repayment terms tend to have higher rates. Since each lender has its own way of evaluating borrowers, it is a good idea to request rates from several lenders so that you can compare your options. a student loan refinance calculator This can help you estimate how much you can save.

if you wish refinance with bad credit, you may need to apply with a cosigner. Or, you can work on improving your credit before applying. Many lenders will allow children to refinance a Parent PLUS loan in their name after they graduate.

You can do this Use Reliable to Compare Rates From multiple private lenders at once without affecting your credit score.

How Student Loan Refinance Rates Are Determined

Private lenders’ rates for student loan refinancing depend on the economy and interest rate environment, but also on the loan term, type of loan (fixed- or variable-rate), the creditworthiness of the borrower, and the lender’s operating costs and profit margin. does. .

about reliable

Credible is a multi-credit marketplace that empowers consumers to discover financial products that best suit their unique circumstances. Credible’s integration with major lenders and credit bureaus allows consumers to quickly compare accurate, personal loan options without risking their personal information or affecting their credit scores. The Credible Marketplace provides an unmatched customer experience, as over . is represented by 4,300 Positive TrustPilot Reviews and a Trustscore of 4.7/5.