Student Loan Refinancing

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Note: Completing a pre-qualification will have no impact on your credit score

Forbes Advisor Ranks RISLA a Top
Student Loan Refinance Provider

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Your RISLA Loan Offers These Great Benefits:    



0.25% Interest rate reduction with automatic payments (auto-pay).

Flexible Loan Terms 

5-, 10-, and 15- year loan terms.

No Upfront Fees
No application, origination, or upfront fees of any kind.


When things don't go as planned, RISLA has your back.


Up to 36 months for eligible borrowers

Easy Online Application

3 Quick steps start to finish.

Highly Rated Customer Service

Rated 4.8 out of 5 stars by our customers.

IMPORTANT NOTICE:  Before you refinance any federal loans, please carefully consider the current temporary suspension of interest and payments issued by the federal government through May 1, 2022 and other federal loan benefits such as Public Service Loan Forgiveness. In addition, the current administration has raised the possibility of Federal Loan Forgiveness for certain student loan borrowers, but there are no specifics at this time.  Due to this uncertainty, RISLA is recommending not refinancing Federal Direct, FFELP, or Federal Parent PLUS Loans at this time

4 Reasons to Consider Refinancing Your Student Loans

1.Lower your interest rate. If you have one or more private and/or federal loans, you may be paying a higher interest rate than what is in your best interest. You can consolidate them under the federal loan program, but that won't change your interest rate - only a refinance loan can do that. Lowering your interest rate could possibly save you thousands of dollars in interest costs.
2. You have good credit. The interest rate you receive on your refinance loan will be based on your credit score, put your good credit to work for you.
3. Simplify monthly payments. If you have education loans with multiple lenders, refinancing can reduce the number of bills you have to pay. Additionally, you can choose auto-pay with your refinance loan to receive a 0.25 interest rate reduction and added convenience of your loan being paid on time each month, automatically and securely from your designated bank account, saving you time and effort.
4. Be released as cosigner. Maybe you are a cosigner on a loan - or you have a cosigner - and you want to shift primary responsibility of the loan to the other signer. If you want the obligation released from your credit, the other party on the loan may be able to refinance the loan under their own name (with or without another cosigner) and you will no longer be responsible for the loan.


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Loan Eligibility
  • Eligible loans must have been used for education purposes at a title IV school (excluding for-profit schools)
  • Eligible loans may have been used at a college located in any state
  • Borrower may reside in any state
  • Borrower must be a US citizen or permanent resident
  • Eligible loans may include private education loans, parent PLUS loans, Stafford loans, and subsidized and unsubsidized direct student loans
  • Refinancing borrower must be an obligated party on the loan(s) which is/are being refinanced 
  • Borrowers must pass a credit check and meet other eligibility requirements
Loan Limits

Refinance between $7,500 and $250,000 (max amounts vary by highest degree earned)

Rate-Discount Rate Discount

Set It, Forget It, and Save!

Set It
Set up your monthly student loan repayment amount with auto-pay from your checking or savings account.

Forget It
After the initial setup for auto-pay, your monthly student loan repayment to RISLA is now automatic, providing you with maximum ease and convenience. 

Interest rate reduced by 0.25%.

Please note: (1) Auto-pay must be set up in your RISLA loan account for monthly withdrawal.  Scheduled payments from personal online banking will not qualify borrower for the rate reduction. (2) If your auto-pay function fails, it is automatically turned off so that you do not continue to get charged returned check fees.


RISLA-Refi-Loans-Flexible-TermFlexible Term Options

Having the option to shorten the term of your loan, along with a lower interest rate, can increase your total savings for reducing total interest paid over the course of repayment. To estimate your savings, try inserting some of your assumptions for rate and term into our Student Loan Repayment Calculator


No Upfront Fees No Upfront Fees

At RISLA, we do not charge any application fees, origination fees, interest fees, services fees, or any upfront fees at all. The only fees we ever charge are late payment fees, returned check fees, and default-related fees. As such, the APR (annual percentage rate) for our immediate repayment loans is the same as our low interest rate.  For deferred repayment loans, the APR is typically lower than the interest rate, but varies based on the amount of time deferred until repayment begins.

Non-federal lenders are required to disclose the APR, which includes finance charges, to provide you an accurate understanding of the cost of borrowing from that lender. Direct PLUS Loans, on the other hand, do not disclose the APR  which would factor in the origination fees charged. The APR on Federal PLUS loans is higher than the effective interest rate that is advertised. 



Borrower Protections

Income-Based Repayment
Income-Based Repayment (IBR) is designed to reduce monthly payments to help borrowers make student loan debt manageable. See full program detail and eligibility requirements at

Total and Permanent Disability Discharge
In the unfortunate event that the benefitting student is unable to engage in any substantial gainful activity of employment by reason of a medically determinable physical or mental impairment, loan forgiveness benefits are available through RISLA upon submission of required medical documentation.

Military Benefits
If you are a member of the military you may be entitled to SCRA Benefits on your RISLA loan. SCRA benefits entitle you to a 6% interest rate cap on all of your RISLA loans while on Active Duty. In addition, Active Duty Military Members deployed to war or in support of war may be eligible for a deferment on their RISLA loans.

Loan Forgiveness for Student Death
RISLA will forgive the outstanding balance on any non-federal RISLA student loan, parent loan, or refinance loan upon the unfortunate incident of the benefitting student's death. 



Grad School Deferment

Borrowers who re-enter graduate school after refinancing may qualify for deferment of their RISLA Refinance Loan.

To be eligible, borrowers must be enrolled at least half time. Borrower must contact RISLA to notify us of enrollment. Borrower must make one payment before a deferment can be granted. Maximum deferment time is 36 months for graduate students. RISLA Refinance Loans are not eligible for a grace period.



Easy Online Application

Our online application takes just minutes. Documentation required can be easily uploaded to our secure documentation portal. You will then receive an email confirmation and updates. You can track your application status easily on our website. If you require any assistance with the online process our customer service team is available at 1-800-758-7562.

Highly Rated Customer Service

Proudly Rated 4.8 out 5 on TrustPilot. RISLA invites all of our customers to post reviews and feedback on the 3rd Party TrustPilot customer service web tool. We are thankful to receive thousands of reviews each year, which helps us to understand what we are doing well and what we can do better to best serve our community.



How to Apply

Step 1


Apply online

Complete your application which should take about 5-10 minutes (note, we have to pull your credit report for the full application). 

Step 2


Upload your documents

Upon approval, you can upload your supporting documentation through our secure website on your computer or via your mobile device.

Step 3


E-sign your loan 

Follow the instructions you receive in your email to accept your loan, self-certify, and e-sign your application.

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Refinancing Guide

Refinancing Guide

Not sure if refinancing is right for you? Download our refinancing guide and learn about the benefits (and potential disadvantages) of refinancing and whether it's best for you. 

Download Guide


Frequently asked questions


See our most frequently asked questions about refinancing. 

View FAQ



1) The Annual Percentage Rate (APR) reflects the estimated total cost of the loan, including upfront fees ($0), accruing interest, and the effect of capitalized interest ($0) . Interest begins accruing after each loan disbursement. Rates shown include the 0.25% interest rate reduction for using the auto-pay feature. If monthly payment is calculated to be less than $50 per month for full term, lowest payment is $50 per month with term reduced. Not all borrowers qualify for the lowest rate. The rate you will receive (ranging from 2.69 – 5.54% APR with auto-pay) is based on the term of the loan, if the loan is cosigned (which lowers your rate), your credit score & financial history, your cosigner's credit score (if applicable), and other factors. Rate shown is for 5-year term. First payment will be due approximately 30 days after the loan is disbursed. View application disclosure. The rates and terms disclosed above are available while funds last. New funds may be subject to different rates and/or terms. 

Note: Cosigner release is not available for refinance loans.