Student Loan Refinancing: Variable vs
Fixed Rate
When student loan borrowers are looking to refinance student loans, they typically come across two options: a fixed rate student loan and a variable rate student loan. Variable rate student loans are the most common when refinancing orconsolidating your loans, but fixed rate loans are available.
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What to Keep in Mind When Refinancing Your Student Loans
Refinancing your student loans is an important step that can help you save money over time. If you have a better credit score or if your financial status has improved since the time you took out your initial loan(s), you may be able to get a better interest rate and get your loans repaid faster. This will make it easier…
The Smartest Investments You Can Make with Your Student Loan ReFi Savings
Refinancing student loans can allow for lower monthly payments, and consolidating your loans can be instrumental in combining everything into a more easy-to-understand, single bill. When you do this, you may discover that you have a higher cash flow each month due to the lower expense. Cash flow, here, just means how much money you have to spend for the…
Can You Refinance Your Student Loans Multiple Times?
In recent years, student loan interest rates have varied, and currently, they’re at a relative low. This makes refinancing a more attractive option than ever, especially for those who have multiple loans with different interest rates. But, the prospect of refinancing your loans can seem intimidating, especially if you’ve already gone through the process once before. What happens if interest…
Which Refinancing Strategy is Right for You?
In recent years, the demand for student loan refinancing options continues to rise. Student loans are designed to be readily accessible to young borrowers who may not have any credit history or income. As a result, they tend to carry higher interest rates than other types of debt. However, after graduating and finding employment, many borrowers are able to improve…
Understanding the Pros and Cons of Student Loan Refinancing
If you finished college with substantial student loan debt, you’re not alone. In fact, nearly 45 million Americans currently carry some form of student loan debt, with an average balance hovering around $30,000. One option worth looking into if you want to save money on your student loan payments is refinancing. When you refinance your student loans, you essentially replace…
Should I Get a Cosigner on My Student Loan Refinance?
If you’re carrying student loan debt, you’re clearly not alone. In fact, the average American with student loan debt graduates with more than $37,000 of debt. If you feel like you’re paying too much in monthly student loan payments, you may be considering refinancing your loan(s). Specifically, refinancing your student loans allows you to replace your existing student loans with…
How, Why and When to Release a Cosigner
While it is uncommon for a federal student loan to require a cosigner, cosigners can be invaluable to individuals who seek out private student loans. Many students have very short credit histories. Some may have a blemish or two. As a result, including a cosigner may offer a better chance to get a better interest rate and qualify for a…
Variable vs. Fixed Student Loan Refinance Rates: What You Need to Know
There are many reasons to consider refinancing your student loans. Perhaps interest rates were high when you took out your loans, and you’re ready to take advantage of lower rates. Or maybe your credit score has improved since you took out your student loans, and you’re curious to see how low of an interest rate you could qualify for now….
Deciphering Student Loan Refinance Rates
If you graduated from college sometime in the last decade, chances are that you’re seriously burdened by student loan debt. More than 44 million Americans have student loan debt. In 2017, 53% of adults between the ages of 18-29 with bachelor’s degrees or higher had outstanding student debt. As a result, the national student loan debt surpassed $1.5 trillion in…
Federal Loan Consolidation vs. Private Student Loan Refinancing: What You Need to Know
After graduation, many students end up with several student loans from different lenders. Whether you have federal loans, private loans, or a mix of the two, multiple payments can be difficult to keep track of. This is why many people make the decision to consolidate their student loans, either through consolidation or through refinancing. Loan consolidation essentially means combining multiple…