Refinance Your Student Loans

New Loan Type:

New Loan Term:

Your Credit Rating:

Existing Total Debt:

$95000

$25,000

$150,000

Current Monthly Payment:

$1150

$200

$2,500

New Monthly Payment:

$

Annual Difference:

$

Monthly Difference:

$

Save $$$ Over the Life of Your Loan

Refinance your loans at a lower rate and a shorter term to reduce interest and your monthly payment.

Simplify Your Life

Consolidate multiple loans into one loan so you can make one easy payment.

Choose Your Payment Method

You have the freedom to choose what payment method is best for you: credit card, check, or debit.

No Pre-pay Penalty

You can prepay your loan at any time with no charge.

0.25% ACH Interest Rate Discount

Lower your interest by .25% by signing up for autopay.

Apply Online

No detailed long paper forms. Our application process is all-online and streamlined so that you can apply in 7 minutes.


Our Refinance Process

Fill out a short online application, which takes approximately 7-10 minutes.

Provide proof of income and information on your current student loans by uploading loan documents.

The lender then approves your documents. You can accept the terms online or download the promissory note to sign and upload.

After the required waiting period, checks are sent to your current lender(s) to pay off your student loans. Your first loan payment will be due in approximately 30-45 days.


Frequently Asked Questions

  • What are the terms of the loan?
    Loan terms include:
    • Both fixed rate and variable rate options are available.
    • Variable rates can adjust quarterly in conjunction with the 1 month LIBOR index.
    • Borrowers have the option of 5, 10, and 15 year repayment terms subject to income qualifications.
    • Monthly payments start between 30 and 60 days after your refinanced loan (s) is disbursed.
    • No prepayment penalty will apply.
    • Financial hardship forbearance options are available.
  • How much can I borrow?
    The Refinance Program has a minimum loan amount of $25,000 and a maximum loan amount of $150,000.
  • Are the terms of the loan program the same for all borrowers or do they vary based on one's credit score?
    The interest rate does depend on the credit profile of the borrower or the cosigner (whoever has the higher credit score).
  • What's the difference between a fixed-rate loan and a variable rate loan?
    An interest rate is "fixed" if it remains unchanged over time. A "variable" interest rate changes over time based on changes in a market benchmark rate, also known as an index. The 1-month LIBOR index is used for the Smart Choice refinance program. Our variable option can adjust quarterly. Initially, a variable rate loan may be lower than a fixed rate. Over time, the variable rate can change, up or down, and your monthly payment will change with it. A fixed rate loan remains the same for the life of your loan, and you’ll owe the same monthly payment every month.
  • How much does the loan cost?
    The interest rate for a Smart Choice Refinance Loan™ depends on the applicant's credit profile, the choice of variable rate or fixed rate, and the term of repayment for the loan. Rates do not depend on the school attended or the amount of the loan request.
  • Are there fees to apply?
    No, there are no costs to complete the application.
  • Is there a benefit if I set a monthly automatic payment with my bank?
    Yes, we encourage this option by reducing your interest rate by 0.25%. However, failure to make payments or elimination of auto pay may result in the loss of the 0.25%.
  • Do I qualify for a refinance loan?
    There are basic eligibility requirements to apply:
    • Be a United States citizen or non-citizen with government-issued, non-expired documentation of permanent resident status.
    • Have graduated from a 4-year public or private college or university. Graduates from For-Profit schools are not eligible.
    • Have verified annual income of no less than $60,000.
    Note: Your credit history, other credit factors, and debt to income ratios will be considered through our simple online application. If you don’t meet the credit and income minimums and are denied, you will be able to re-apply with a co-signer.
  • Am I required to graduate from a certain school to be eligible?
    No, unlike other programs, our program is open to those who have graduated from a 4-year public or private college or university. Graduates from For-Profit schools are not eligible.
  • Do I need a co-signer?
    You do not need a cosigner, but if you do not meet Unigo’s credit underwriting criteria on your own, a cosigner can be used to improve the likelihood of approval or even improve the interest rate you are offered.
  • What are some of the benefits of having a co-signer?
    The main reason to use a cosigner is if your own credit history or financial strength is not adequate to qualify for you to refinance a student loan by yourself. Applying with a cosigner that has a strong enough financial profile may:
    • Increase your chances of being approved despite your own lack of credit or income.
    • Secure a lower interest rate.
  • Can my spouse be a cosigner on a student loan or student loan refinance?
    If you have a spouse who has significantly better credit, less debt, or higher income than you do, you may want to consider using them as your cosigner. That’s especially helpful if you both already like to share your financial resources since, over the long haul, a strategic student loan refinance may save a lot of money.
  • Can the co-signer later be removed from the loan?
    Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest on your Smart Choice Loan. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release.
  • Is the process difficult and time consuming?
    On the contrary, it’s very straight forward and simple and can be accomplished entirely online.
    1. Fill out a short online application which takes approximately 7-10 minutes.
    2. Provide requested information, such as proof of income and information on your current student loans by uploading these supporting documents directly to our system. A list will be provided once the loan has been given a preliminary approval.
    3. Once the documentation is reviewed and meets our requirements, Unigo provides final approval. Once you accept the terms of the loan, a final disclosure and promissory note are presented for you to sign electronically. (You also can download the promissory note, sign, and upload)
    4. After the required waiting period (this allows you to change your mind for any reason) we send checks to your current lender(s) to pay off your student loans.
    5. The first Smart Choice loan payment will be due in approximately 30-45 days. You will be sent instructions on making your payment in plenty of time prior to the due date.
  • What documents should I have with me when I apply?
    To complete the application you will need the information provided on your current loan statements. Once you’ve completed the application a list of additional documents will be provided, these items can be uploaded simply through our processing system. Typically you will need:
    1. Proof of income based on your employment status. Current paystubs, W-2 forms, or tax form are examples.
    2. Recent loan statement for each loan you wish to refinance. Each statement must have your name, account number, loan balance, and physical address where you would mail a payment.
    3. Your driver's license with your current address.
    4. Proof of graduation
  • Will you require a credit report and will it show an inquiry?
    Yes, once you’ve made your decision to submit the application a credit report and credit score will be automatically requested which will result in an inquiry.
  • How do I sign my promisory note?
    You may choose whether to physically sign or e-sign your student loan application and promissory note. Simple instructions will be included once you’ve reached that stage in the process. Before we deliver the loan proceeds to pay off your loans, we’ll provide you with:
    1. A Final Disclosure that will confirm the terms of the refinance loan, and
    2. A Right to Cancel notice that explains you have at least 3 business days to cancel your refinance loan without penalty along with instructions on how to do so.
  • General Overview Questions
  • Understanding Your Loan Terms
    • What are the terms of the loan?
      Loan terms include:
      • Both fixed rate and variable rate options are available.
      • Variable rates can adjust quarterly in conjunction with the 1 month LIBOR index.
      • Borrowers have the option of 5, 10, and 15 year repayment terms subject to income qualifications.
      • Monthly payments start between 30 and 60 days after your refinanced loan (s) is disbursed.
      • No prepayment penalty will apply.
      • Financial hardship forbearance options are available.
    • How much can I borrow?
      The Refinance Program has a minimum loan amount of $25,000 and a maximum loan amount of $150,000.
    • Are the terms of the loan program the same for all borrowers or do they vary based on one's credit score?
      The interest rate does depend on the credit profile of the borrower or the cosigner (whoever has the higher credit score).
    • What's the difference between a fixed-rate loan and a variable rate loan?
      An interest rate is "fixed" if it remains unchanged over time. A "variable" interest rate changes over time based on changes in a market benchmark rate, also known as an index. The 1-month LIBOR index is used for the Smart Choice refinance program. Our variable option can adjust quarterly. Initially, a variable rate loan may be lower than a fixed rate. Over time, the variable rate can change, up or down, and your monthly payment will change with it. A fixed rate loan remains the same for the life of your loan, and you’ll owe the same monthly payment every month.
    • How much does the loan cost?
      The interest rate for a Smart Choice Refinance Loan™ depends on the applicant's credit profile, the choice of variable rate or fixed rate, and the term of repayment for the loan. Rates do not depend on the school attended or the amount of the loan request.
    • Are there fees to apply?
      No, there are no costs to complete the application.
    • Is there a benefit if I set a monthly automatic payment with my bank?
      Yes, we encourage this option by reducing your interest rate by 0.25%. However, failure to make payments or elimination of auto pay may result in the loss of the 0.25%.
  • Eligibility
    • Do I qualify for a refinance loan?
      There are basic eligibility requirements to apply:
      • Be a United States citizen or non-citizen with government-issued, non-expired documentation of permanent resident status.
      • Have graduated from a 4-year public or private college or university. Graduates from For-Profit schools are not eligible.
      • Have verified annual income of no less than $60,000.
      Note: Your credit history, other credit factors, and debt to income ratios will be considered through our simple online application. If you don’t meet the credit and income minimums and are denied, you will be able to re-apply with a co-signer.
    • Am I required to graduate from a certain school to be eligible?
      No, unlike other programs, our program is open to those who have graduated from a 4-year public or private college or university. Graduates from For-Profit schools are not eligible.
    • Do I need a co-signer?
      You do not need a cosigner, but if you do not meet Unigo’s credit underwriting criteria on your own, a cosigner can be used to improve the likelihood of approval or even improve the interest rate you are offered.
    • What are some of the benefits of having a co-signer?
      The main reason to use a cosigner is if your own credit history or financial strength is not adequate to qualify for you to refinance a student loan by yourself. Applying with a cosigner that has a strong enough financial profile may:
      • Increase your chances of being approved despite your own lack of credit or income.
      • Secure a lower interest rate.
    • Can my spouse be a cosigner on a student loan or student loan refinance?
      If you have a spouse who has significantly better credit, less debt, or higher income than you do, you may want to consider using them as your cosigner. That’s especially helpful if you both already like to share your financial resources since, over the long haul, a strategic student loan refinance may save a lot of money.
    • Can the co-signer later be removed from the loan?
      Borrowers may apply for co-signer release after making 36 consecutive on-time payments of principal and interest on your Smart Choice Loan. The borrower must meet certain credit and eligibility guidelines when applying for the co-signer release.
  • Refinancing Process
    • Is the process difficult and time consuming?
      On the contrary, it’s very straight forward and simple and can be accomplished entirely online.
      1. Fill out a short online application which takes approximately 7-10 minutes.
      2. Provide requested information, such as proof of income and information on your current student loans by uploading these supporting documents directly to our system. A list will be provided once the loan has been given a preliminary approval.
      3. Once the documentation is reviewed and meets our requirements, Unigo provides final approval. Once you accept the terms of the loan, a final disclosure and promissory note are presented for you to sign electronically. (You also can download the promissory note, sign, and upload)
      4. After the required waiting period (this allows you to change your mind for any reason) we send checks to your current lender(s) to pay off your student loans.
      5. The first Smart Choice loan payment will be due in approximately 30-45 days. You will be sent instructions on making your payment in plenty of time prior to the due date.
    • What documents should I have with me when I apply?
      To complete the application you will need the information provided on your current loan statements. Once you’ve completed the application a list of additional documents will be provided, these items can be uploaded simply through our processing system. Typically you will need:
      1. Proof of income based on your employment status. Current paystubs, W-2 forms, or tax form are examples.
      2. Recent loan statement for each loan you wish to refinance. Each statement must have your name, account number, loan balance, and physical address where you would mail a payment.
      3. Your driver's license with your current address.
      4. Proof of graduation
    • Will you require a credit report and will it show an inquiry?
      Yes, once you’ve made your decision to submit the application a credit report and credit score will be automatically requested which will result in an inquiry.
    • How do I sign my promisory note?
      You may choose whether to physically sign or e-sign your student loan application and promissory note. Simple instructions will be included once you’ve reached that stage in the process. Before we deliver the loan proceeds to pay off your loans, we’ll provide you with:
      1. A Final Disclosure that will confirm the terms of the refinance loan, and
      2. A Right to Cancel notice that explains you have at least 3 business days to cancel your refinance loan without penalty along with instructions on how to do so.
  • Repayment Process