Prime Student Loan, a startup aiming to help recent graduates reduce their student loan expenses, said Wednesday it has raised $250,000 of seed funding from CommonAngels.

Prime Student Loan focuses exclusively on refinancing existing student loan debt for the most highly qualified borrowers. We work to match qualified candidates with banks willing refinance student loans to lower interest rates resulting in drastically lower monthly payments. To date, we've seen an average savings of ~30% on monthly payments and a ~50% reduction in interest rates.