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Nelnet Bank Student Loan Refinance

Completing your education was one smart decision – here’s your chance to make another. Save your hard-earned cash with Student Loan Refinancing from Nelnet Bank. 

Why Nelnet Bank?

40+ Years of Experience

Backed by the nation’s largest student loan servicer, we’ve proven that we know our stuff.

Expert Borrower Support

Real people. Real support. We’ll help you find a loan that fits your needs.

Personalized Solutions

No matter what level of education you’re pursuing, Nelnet Bank’s got you covered. We offer refinancing solutions for undergrad, graduate, private, and federal loans.

Easy to Apply

See the rate you qualify for in as little as two minutes and save for years. Plus, we don’t believe in application or prepayment fees.


  • $36,000+ income, 680+ FICO Credit
  • Loan Limits: $125,000 Undergrad, $150,000 Graduate, $175,000 MBA and Law, $225,000 Heath Professionals
  • Loan approval subject to credit review


1Interest Rates

Fixed interest rates range from 2.70% APR (with auto debit discount) to 6.10% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. The fixed interest rate will remain the same for the life of the loan.

Variable interest rates range from 2.10% APR (with auto debit discount) to 5.53% APR (without auto debit discount). Your interest rate will depend on your (and if applicable, your cosigner’s) credit qualifications. Variable rates may increase after consummation. The variable interest rate is equal to the One-Month London Interbank Offered Rate (“One-Month LIBOR”) plus a margin. The One-Month LIBOR in effect for each monthly period (from the first day of the month through and including the last day of the same month) will be the highest One-Month LIBOR published in The Wall Street Journal “Money Rates” table on the twenty-fifth (25th) day (or if such day is not a business day, the next business day thereafter) of the month immediately preceding such calendar month. The Annual Percentage Rate (APR) for a variable interest rate loan will change monthly on the first day of each month if the One-Month LIBOR index changes. This may result in higher monthly payments. The current One-Month LIBOR index is 0.09% as of June 1, 2021.

The lowest interest rate for each loan type requires a creditworthy eligible cosigner, automatically withdrawn (“auto debit”) payments, a five-year repayment term, and the borrower making immediate principal and interest payments. Not all borrowers will receive the lowest rate. The interest rate and Annual Percentage Rate (APR) may be higher depending upon (1) the credit history of the borrower and, if applicable, the cosigner, (2) the repayment option and loan term selected, (3) the loan type selected, and (4) the highest level of education attained. If approved, applicants will be notified of the rate qualified for within the stated range.

2Cosigner Release Request for the cosigner to be released can be made by the borrower after 24 consecutive, on-time payments (not later than 15 days after the due date) of principal and interest have been made. The borrower must be current on their payments at the time of the cosigner release request and show the ability to assume full responsibility of the loan(s) by meeting certain credit criteria on their own at the time of the request, including, but not limited to, being a U.S. citizen or having permanent residency in the United States, being the age of majority in their permanent state of residency, providing sufficient proof of income, and having no student loans in default.

3Loan Eligibility Refinance Loan Eligibility: You must be a U.S. citizen or permanent resident alien with a valid U.S. Social Security number, and be the legal age of majority in your permanent state/territory of residency, which is 18 years of age in every state/U.S. territory except Alabama (19 years old), Mississippi (21 years old), and Puerto Rico (21 years old). Borrowers who have not reached the age of majority must be at least 17 years of age at the time of application and have an eligible cosigner who is at least the age of majority in the state/territory they reside. Non-residents can apply with an eligible cosigner who is a U.S. citizen or permanent resident alien with a valid U.S. Social Security number. The student loans you refinance must be in their grace or repayment period, and you can no longer be enrolled in school on a half-time or more basis. You must have at least $5,000 in student loans to refinance. You, or your eligible cosigner, must have an annual income of at least $36,000. Approval subject to credit review. Other credit criteria may apply.

Refinance Loan Limits:

Minimum loan amount: $5,000

Maximum student loan limits:

$125,000 for borrowers with an undergraduate degree or below.

$150,000 for borrowers with a graduate or doctorate degree. $175,000 for borrowers with an MBA or graduate law degree.

$225,000 for borrowers with a graduate health professions degree.

Nelnet Bank, and any associated logos or design marks, are trademarks or service marks of Nelnet, Inc. All loan programs and terms are subject to change or may be discontinued at any time without notice. Certain restrictions and limitations may apply.

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