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Student Loan Refinance Eligibility







Brazos strives to provide transparent pricing and eligibility. We encourage you to familiarize yourself with the eligibility requirements prior to applying. In addition to the requirements below, borrowers and cosigners must meet other credit criteria in order to qualify.


Borrower Eligibility


Eligible borrowers must:

  1. have graduated and received at least an undergraduate bachelors from one of over 2,000 eligible schools,
  2. be the borrower of the loans to be refinanced,
  3. be a United States citizen or National or a non-citizen with government issued, non-expired documentation of permanent resident status, or, if applying with an Eligible Cosigner, a non-citizen with a work or student visa,
  4. be a resident of the State of Texas, (Not a Texas resident?)
  5. be at least 18 years old,
  6. be applying to refinance at least one outstanding, fully disbursed education loan,
  7. be employed or self-employed at the time of application or have accepted a firm offer of employment with a start date within sixty (60) days,
  8. have a minimum annual income of $60,000, or $30,000 if applying with a qualified cosigner,
  9. have a FICO score of at least 720, or 690 if applying with a qualified cosigner (Don't know your credit score?), and
  10. have a strong credit history and meet other credit requirements.

Cosigner Eligibility


Eligible cosigners must:

  1. be a United States citizen or National or a non-citizen with government issued, non-expired documentation of permanent resident status residing in the United States,
  2. be a resident of the State of Texas, (Not a Texas resident?)
  3. be at least 18 years old,
  4. have a minimum annual income of $60,000,
  5. have a FICO score of at least 720 (Don't know your credit score?), and
  6. have a strong credit history and meet other credit requirements.

Loan Limits


The minimum loan amount is $10,000. The maximum loan amount is $150,000 for borrowers with a bachelors degree and $400,000 for a graduate, medical, law or other professional degrees.


Required Information


Information you will need to apply:

  • Proof of Texas residency (a state ID or Driver’s License)
  • Your social security number.
  • Your permanent address
  • Proof of income. Depending upon your income types, this may be your two most recent pay stubs, 1099 Forms, or your most recent tax return
  • A payoff verification from your current loan servicer or lenders including the address where payoff payments are to be mailed (this certifies the amount of principal and interest currently owed on your existing loans). This statement lets us know the total amount needed to pay off your existing loans, and can often be obtained online from your current loan servicer.

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Student Loan Refinance Fixed rates from


% APR


Including 0.25% Auto-Pay Discount1


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Disclaimers


1. Brazos Refinance Loan fixed rates from % APR to % APR (with Auto-Pay Discount). Variable rates from % APR to % APR (with Auto-Pay Discount). Interest rates on Brazos loans are capped at 9.90%. Lowest variable rate of % APR assumes current 1 month LIBOR rate of % plus a % margin minus the 0.25% Auto-Pay Discount. Not all borrowers receive the lowest rate. If approved for a Brazos loan, the fixed or variable interest rate offered will depend on your creditworthiness, the term of the loan and other factors, and will be within the ranges of rates listed above. For the Brazos variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases.

Auto-Pay Discount. The interest rate in effect will be reduced by 0.25% if either the borrower or the cosigner authorizes automated (ACH) payments from any bank account. This ACH interest rate reduction, referred to as the Auto-Pay Discount, applies only when full principal and interest payments are automatically drafted from a bank account. This interest rate reduction will not continue to apply during periods of approved forbearance or deferment. The Auto-Pay Discount will terminate if the automatic bank account payments discontinue or there are any three instances of insufficient funds at any time during the term of the loan. A borrower may requalify upon reauthorization of automatic payments from a valid bank account.