The interest rate was 13.000%, but after making a large payment, it increased to 13.375%. If this continues, would it be better to take out a bank loan to pay off the student loan in one lump sum?
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Try refinancing that with a different lender to get a fixed-rate loan. According to the loan agreement you signed, variable-rate loans are normally related to an external benchmark such as LIBOR or SOFR; hence, changes in interest rates will affect your variable interest rate.
Before considering refinance applications, lenders normally want to see a completed degree, a solid debt-to-income ratio, and a good credit score. Compare rates from various lenders to see which one offers you the best-fixed interest rate.
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It is clearly evident that your loan is currently variable. You should consider refinancing to a lower fixed rate.