Skip Navigation
After navigation

Find & Compare Private Student Loans for Your School:
School Search Form

First Republic Bank Student Loan Review

Image of Photo of Mollie Allen

What Is First Republic Bank?

First Republic Bank was established in the summer of 1985 and has built its success on top-notch client service. It has become one of the largest banks in the US since then. First Republic is not technically a student loan lender, but they do promote products that can be used for refinancing your student loans. As a full-service bank, First Republic Bank offers a variety of accounts, loans, investment options, and more to meet the unique needs of its clientele

First Republic Bank Student Loan Refinance

First Republic Bank takes a nontraditional route for student loan refinance. Instead of a refinance student loan (which the bank stopped offering in 2020), the bank offers a personal line of credit that you can use to pay off your student loans as well as other debt. Furthermore, First Republic Bank does not offer in-school private student loans; however, we make it easy for you to compare lenders and view your options.

Instantly Compare Lenders

First Republic Bank Personal Line of Credit

Getting a personal line of credit with First Republic Bank means your funds could be used for several purposes, such as refinancing student loans, buying or refinancing a car, paying for small home expenses, etc.

First Republic Bank's personal line of credit permits you to make interest-only payments during a two-year draw period. If you would like to make principal payments during the draw period, you can, but it is not necessary. The two-year draw period precedes your repayment period, which is when you would make payments that go towards your loan principal and interest.

Before deciding on a personal line of credit, familiarize yourself with student loan benefits such as forbearance, deferment, and forgiveness. Opting for a personal line of credit could mean relinquishing some of those perks.

Pros and Cons of First Republic Bank Student Loan Refinance

Pros Cons
Competitive fixed interest rates Relationship rate discounts are not easy to qualify for
Personal line of credit can be used for refinancing student loans and other expenses Must open a checking account to get a personal line of credit
Interest-only repayment option for the first two years Must maintain a minimum monthly average balance of $3,500 in your checking account to avoid a $25 monthly fee
High maximum loan amount of $350,000 (10% of loan amount must be unused at time of origination) Higher minimum loan amount ($60,000) compared to other lenders
No loan fees Must live in or be near one of the bank’s offices (limited to seven states)
No deferment, forbearance, or unemployment protections which may be offered by other refinance lenders

How to Refinance Student Loans with First Republic Bank

To refinance your student loans with First Republic Bank, you need to first open an ATM Rebate Checking account. The minimum opening deposit for this checking account is $500, and it incurs a $25 monthly fee if you fail to maintain a minimum monthly average balance of $3,500.

To open an account at First Republic Bank, you will need to meet with one of the bankers at one of its branches in these cities:

  • California: Los Angeles, Newport Beach, Palo Alto, San Diego, San Francisco, Santa Barbara
  • Connecticut: Greenwich
  • Florida: Palm Beach
  • Massachusetts: Boston
  • New York: New York City
  • Oregon: Portland
  • Wyoming: Jackson

After opening a checking account, you can then work with a private banker to apply for a First Republic Bank personal line of credit.

How First Republic Bank Gives Back

First Republic Bank has partnered with Management Leadership for Tomorrow (MLT), a nonprofit that focuses on empowering talented Black, LatinX and Native American people by helping them obtain lucrative careers with strong companies and organizations. In 2020, First Republic Bank supported 710 nonprofits through their colleagues who volunteered 21,500 hours collectively, and the bank bolstered 790 nonprofits with charitable contributions and grants.

In response to the COVID-19 pandemic, First Republic Bank instituted a donation program with its Community Advisory Board and started matching colleague donations through their gift-matching program.

First Republic Bank Customer Service

Customer service for First Republic Bank can be reached by phone or email. In addition, all First Republic Bank clients are assigned a customer relationship manager to meet their banking needs.

First Republic Bank Headquarters

Headquartered in San Francisco, California, First Republic Bank has offices in seven states: California, Connecticut, Florida, Massachusetts, New York, Oregon, and Wyoming.

Refinance Offers

  • Interest Rates
    • Variable rate range: 5.24% – 9.99% APR1
    • Fixed rate range: 5.24% – 9.99% APR1
  • Loan Min/Max
    • Minimum: $5,000
    • Maximum: $300K
  • Repayment Terms: 5, 10, or 15 years 2
  • Degree Requirements: Must have graduated from a public or private, not-for-profit, degree granting institution.
What are my private student loan options?