Student Loan Refinance

Take Control of your Repayment

Refinancing your private and federal student loans (including PLUS loans) into one manageable payment could help you pay off your loans sooner, or reduce your monthly bills. See how much you could save*!

Have questions? Every student loan situation is unique, just like you. Learn more about your options for student loan refinancing by connecting with our counselor.



Rates starting at:

3.750% APR


Why refi with Merrimack Valley Credit Union?

When you choose your credit union to refinance your student loans, you'll benefit from great rates, low fees, convenient repayment terms, and most importantly, a life-long relationship with a lender you can trust.


Flexible Options

Choose from multiple loan replayment terms.


Take Control

Combine loans or adjust your payment to fit your budget.


Get Support

Our counselor can provide 1:1 support for your refinancing questions.


Should I refinance my student loans?

Refinancing your student loans (such as private, federal, and PLUS) could help you lower your rate, adjust your payment, or pay them off sooner. Just remember, when you refinance federal student loans into a private refi loan, you'll lose access to any current or future federal benefits, such as potential debt cancellation or income-driven repayment options.

For more information, check out these helpful resources:

Common Questions

If you are a college graduate currently in repayment, a recent college graduate, or a parent who took out student loans for a child, you may want to consider refinancing your student loans. For those with high interest rate student loans, refinancing might be a good way to lower the interest rates on your private or federal student loans (including parent and graduate PLUS). Choosing a new repayment term that fits your needs could help you simplify multiple payments or adjust your repayment terms.

Refinancing could potentially reduce the amount of interest you pay long term, but be sure to compare your options to determine what solution is right for you. Remember, Federal loans offer some special benefits, for example, public service forgiveness and economic hardship programs, that may not be accessible to you after you refinance. See disclosures for more details.

Please visit our eligibility page.

All loans being refinanced must be post separation from school.

Federal Education Loans:

  • Federal Family Education Loan Program (FFELP)
  • Subsidized or Unsubsidized (aka Stafford Loan)
  • Grad or Parent PLUS William D. Ford Direct Loan Program Subsidized or Unsubsidized (aka Direct Stafford Loan)
  • William D. Ford Direct Loan Program Undergraduate, Grad or Parent PLUS
  • Perkins, Nursing or Health Education Assistance (HEAL)
  • Consolidation

If you choose to refinance a federal loan, you will lose federal student loan benefits such as income driven repayment or loan forgiveness options that may be available on your current federal loan(s). In addition, federal student loans offer deferment and forbearance options that may not available to you if you take out a private refinance loan. You may qualify for a Federal Direct Consolidation Loan. For additional information about a consolidation option for federal loans, contact the Department of Education at: See disclosures for more details.

Private Education Loans: 

  • Undergrad
  • Graduate
  • Consolidation

Institutional Education Loans: 

  • Undergrad
  • Graduate
  • Consolidation



View all FAQs.


Helpful Resources


Personal Support


Guide to Refi


Calculate Savings

Refinance Disclosures

*Subject to credit qualification and additional criteria, including graduating from an approved school.

†APR = Annual Percentage Rate. Rates shown include a 0.25% discount for optional enrollment in automatic electronic payments. Check our current rates and full disclosures.

Important: Please review carefully if you are considering refinancing your federal student loans.
Federal student loans may qualify for payment and interest rate benefits that private student loans do not. Carefully consider your options before refinancing federal student loans, as they will no longer qualify for current and future federal benefits once refinanced with a private lender. For more information, visit or contact your federal student loan servicer.

Your existing student loan(s) must total a minimum of $5,000 to be eligible for refinance. The maximum amount you may refinance is $100,000.

To qualify, you must be eligible for Credit Union membership, at least 18 years old, a U.S. citizen or permanent resident, have graduated from an approved public or private not-for-profit school, and continue to meet Merrimack Valley Credit Union’s underwriting criteria.

To apply for this loan, complete the online application. If you are approved for this loan, the loan terms will be available for 30 days (terms will not change during this period, except as permitted by law and the variable interest rate may change based on the market).

Student Loan Refinance and underwriting is provided by Merrimack Valley Credit Union. Application processing is provided by Credit Union Student Choice on behalf of Merrimack Valley Credit Union. Loan servicing and repayment is provided by University Accounting Service, LLC on behalf of Merrimack Valley Credit Union.