First Republic Bank

• Competitively Low Rates
• Interest-Only Payments for First 2 Years
• No Fees
• Quick and Easy Application Process
• Refinance Your Student Loans Multiple Times
• Options to Lower Your Interest Rate
• Apply with a Cosigner

Competitively Low Rates

In comparison to other student loan refinancing lenders and loan products, First Republic Bank's personal line of credit offers competitively low fixed rates, ranging from 2.25 percent to 3.50 percent APR — student loan refinancing rates typically range from 2.59 percent to 6.94 percent.

Lines of credit typically have lower interest rates because there is a smaller amount of risk involved for the lender than with traditional loan products.

Interest-Only Payments for First 2 Years

In addition to low rates, First Republic Bank also offers interest-only payments for the first two years of a personal line of credit.

This means that you will only need to pay interest on the money you withdraw for the first two years of the loan term. This can provide greater flexibility in repayment, but also help you save money as you pay off your student loans.

No Fees

First Republic student loan refinancing with a personal line of credit has no fees — no origination fee or prepayment penalty fee ever throughout the life of the loan.

Quick and Easy Application Process

You can check your rates in two minutes, and then if you decide to complete your application, you will be connected with a First Republic Bank banker who will reach out to learn more about you and your refinancing needs.

After determining the best options for you and submitting required documentation, your application is complete and your funding should be dispersed quickly.

Refinance Your Student Loans Multiple Times

You can refinance your federal and private student loans as often as you'd like. However, if you are refinancing federal student loans, it is important to note that you will permanently be giving up federal repayment benefits, such as deferment, forbearance, and forgiveness options.

Options to Lower Your Interest Rate

First Republic Bank provides a few options to lower your interest rate:

• First Republic ATM Rebate Checking account — Receive a 2% relationship-based pricing discount by having or creating a rebate checking account with auto-debit for your personal line of credit payments. If the account is closed, your rate will increase by 5%.
• Relationship-based pricing adjustments — Pricing and billing will be determined on your circumstances instead of specific product requirements, such as solely relying upon your credit score to make a lending decision.

Apply with a Cosigner

If you have a low credit score, you can apply for a First Republic Bank personal line of credit to increase your chances of approval, as well as potentially lower your interest rate.

• Not Available Nationwide
• Must Visit a Branch Location for Application Process
• No Deferment of Forgiveness Available
• Monthly Fees
• High Loan Minimum Amount

Not Available Nationwide

First Republic Bank lines of credit can only be taken out in states where the company has locations. Currently, First Republic Bank only serves the following states:

• California
• New York
• Massachusetts
• Oregon
• Florida
• Connecticut

Must Visit a Branch Location for Application Process

The application process for First Republic Bank student loan refinancing can be started online, but you must visit a branch location to meet with a banker to complete the process.

This can be inconvenient if you would prefer a fully online process, but on the other hand, you could receive more personal service, providing greater flexibility in rates and terms based on your needs and finances.

No Deferment or Forgiveness Available

First Republic Bank does not offer forbearance periods, financial hardship deferment periods, or income-based repayment plans.

Monthly Fees

If student loan borrowers do not keep up with a $3,500 average monthly balance, First Republic Bank will charge a monthly fee of $25.00. This fee can be waived for the first three months.

High Loan Minimum Amount

Many companies in the industry only require a $5,000 loan minimum. First Republic Bank requires that loans be between $60,000 to $300,000. This is on the high end of many student loan refinancing needs.