Save your hard-earned money by comparing student loan refinance options now
If you’re one of the 53 million borrowers looking for student loan debt solutions, you’re far from alone. However, there are options. Student loan refinancing is currently available to help ease the burden of repayment.VIEW LOAN OPTIONS
How does student loan refinancing work?
You can refinance both your federal student loans and your private student loans through a private lender, such as a bank or one of the lenders offered by our affiliates and partners. Refinancing your loans will combine all of them into one loan with one monthly payment. Your interest rate will be based off of your credit score, so if it’s higher than when you first applied, you should score an incredibly low rate.
If you’re planning on taking advantage of federal loan forgiveness programs, you may not want to refinance your federal loans. Refinancing your federal student loans will disqualify you from any forgiveness programs. However, if you are ineligible for loan forgiveness, a refinance is the best way to lower your payments.
Understanding student debt
Student loan debt in the U.S. is one of the hottest topics in the news today. Unfortunately, there are some pretty mind-boggling statistics:
Am I eligible for a student loan refinance?
If you feel trapped to your student loan payments and your high monthly payments are preventing you from living your life, refinancing can be a great way to lower your interest rate and reduce your monthly payment.
If you have a Associates, Bachelors, Masters, or PhD, you are eligible to refinance student loans. Lenders generally work with individuals with good credit and who are currently employed.