The Lafayette School Corporation expects to save between $300,000 and $400,000 by refinancing bonds.
The loans were issued through the Vinton-Tecumseh Holding Corporation to pay for several middle school projects.
LSC Chief Financial Officer Eric Rody says the lower interest rates give the district a chance to save money.
District officials are meeting with the holding corporation to discuss terms of refinancing.
Rody says he is not sure when the process will be complete.
He says if agreed upon, the savings will be put toward building renovation and repair projects.