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First Republic Bank Student Loans Review

Find the Best Student Loan Refinance Lenders

First Republic Bank offers only student refinancing loans. The lender does not provide private student loans to students looking to finance their education.

First Republic Bank offers fixed-rate refinancing loans from $40,000 (or $25,000 if you have a graduate degree) to $300,000. Repayment terms include five, seven, 10 and 15 years.

The lender doesn’t charge origination, annual or prepayment fees. In fact, you’ll receive a prepayment rebate of the interest you paid on the loan (up to 2 percent of the original balance) if you pay off the loan within four years.

To be eligible for the lender’s listed rates, you must have a First Republic ATM Rebate Checking account. Your interest rate will increase by 5 percent if you close the checking account, and it will increase by 2 percent if you don’t receive direct deposits from your main source of income and set up automatic payments from the account.

You will, however, receive a 0.50 percent discount if you have the greater of $5,000 or 10 percent of your loan amount in your checking account.

To qualify for student loan refinancing with First Republic Bank, borrowers must live near one of the lender’s 74 branches. The bank has branches in California, Connecticut, Florida, Massachusetts, Oregon, Washington and Wyoming.

The lender doesn’t list a minimum FICO credit score requirement, but mentions that a 750 score and a strong salary put you in a better position to qualify.

First Republic Bank doesn’t offer forbearance to its borrowers. The lender doesn’t provide any information on whether loans are discharged upon the death or permanent disability of the student.

First Republic Bank has an A+ rating with the Better Business Bureau. In 2018, the Consumer Financial Protection Bureau received one student-loan-related complaint about First Republic Bank. The issue was related to receiving bad information about a loan. First Republic Bank provided a timely response for the issue and closed the complaint with an explanation.

  • Graduates with great credit and income
  • Graduates who have or plan to open a First Republic ATM Rebate Checking account
  • Graduates who can pay off the debt within four years

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