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Refinance Student Loans

KeyBank now speaks student loan refinancing.

We've grown the Key family to unlock new potential savings opportunities, like student loan refinancing. KeyBank customers get a 0.25% rate discount when refinancing — check your rates today with no impact on your credit score!1

To enroll in this offer you must apply directly from this page.

5 year
7 year
10 year
15 year
20 year
Fixed APR
Variable APR
Check My Rates

Eligibility and rates offered will depend on your credit profile and other factors. Rates in the above table include a 0.25% discount for making automatic payments from a bank account. Variable APRs are subject to increase after consummation. View Payment Examples below.

Calculate Your Payments

Your estimated monthly payment


With an estimated APR of 3.75%–5.90%

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The calculated payments are only an estimate. Your actual payments will depend on the actual amount for which you are approved. Eligibility and rates offered will depend on your credit profile, total monthly debt payments, and income. Rates in the above calculations include a 0.25% discount for making automated payments from a bank account. Read important additional information in the Terms & Conditions below.


1 The 0.25% KeyBank Customer Discount is offered for applications from KeyBank customers. The KeyBank Customer Discount will end if KeyBank closes the account or the Borrower fails to maintain a KeyBank account, in good standing, throughout the life of the loan. The discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster. Offer cannot be combined with other Laurel Road offers, except any discount for making automatic payments.

Checking your rate with Laurel Road 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 After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower's economic hardship. During any period of forbearance interest will continue to accrue. At the end of the forbearance period, any unpaid accrued interest will be capitalized and be added to the remaining principal amount of the loan.

3 Automatic Payment ("AutoPay") Discount: if the borrower chooses to make monthly payments automatically from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically from the borrower's bank account. The 0.25% AutoPay discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

Payment Examples

Fixed Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments
5 Year 3.75% – 5.80% 3.75% – 5.80% 60 $183.04 - $192.40 $10,982.35 - $11,543.96
7 Year 4.25% - 6.25% 4.25% - 6.25% 84 $137.84 - $147.29 $11,578.71 - $12,372.11
10 Year 4.35% - 6.65% 4.35% - 6.65% 120 $102.92 - $114.31 $12,350.02 - $13,717.52
15 Year 4.75% - 7.05% 4.75% - 7.05% 180 $77.78 - $90.16 $14,000.97 - $16,229.27
20 Year 5.05% - 7.27% 5.05% - 7.27% 240 $66.27 - $79.16 $15,905.30 - $18,998.12


Variable Rate Loans
Term Interest Rate APR No. of Payments Monthly Payment Total Payments
5 Year 2.24% - 6.30% 2.24% - 6.30% 60 $176.33 - $194.73 $10,579.77 - $11,683.56
7 Year 4.00% - 6.35% 4.00% - 6.35% 84 $136.69 - $147.77 $11,481.80 - $12,412.62
10 Year 4.25% - 6.40% 4.25% - 6.40% 120 $102.44 - $113.04 $12,292.50 - $13,564.78
15 Year 4.50% - 6.65% 4.50% - 6.65% 180 $76.50 - $87.94 $13,769.88 - $15,828.74
20 Year 4.75% - 6.90% 4.75% - 6.90% 240 $64.62 - $76.93 $15,509.37 - $18,463.39

Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.

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 one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%.

This information is current as of March 25, 2020. Information and rates are subject to change without notice.

Terms and Conditions


Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date or has no expiration date); 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.

All loans must be in grace or repayment status and cannot be in default.  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.  Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for more information.

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.


For bachelor’s degrees and higher, up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing. If you are refinancing greater than $300,000 in student loan debt, Lender may refinance the loans into 2 or more new loans.

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-ParentPlus 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, refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for more 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.