Student debt refinance rates can be as low as 2.13%, refinancing with these lower rates can save some borrowers upwards of ,000 over the life of their loan.
At Lend EDU, we help borrowers compare all of the top student loan companies in one place.
Private and federal student loans cannot be refinanced or consolidated together.
If you find yourself paying 4% to 10% in interest each year you are paying too much.Over the last couple years student loan refinancing has become a hot topic in the United States.As it sounds, refinancing allows undergraduate and graduate borrowers to refinance educational debt at a potentially lower interest rate.Now that you know it’s an option and you understand how it works, you can better assess whether it’s right for you.Today, the answer to that question is probably yes!Read the detail lender reviews for more information regarding lender approval. Today, there are a number of new private consolidation companies looking to help borrowers improve their financial health.
Our favorite, So Fi, aka Social Finance, has quickly positioned itself as the top student loan refinance lender on the market.But if your income is over a certain threshold, you won’t benefit from these programs.And if you do qualify, but you’re at the high end of the spectrum, your slightly lowered payments may come at a through the refinancing process won’t make sense for every borrower, but it provides great benefits for some.It is free to apply, and the process usually takes about 15 minutes. If the requirements above sound good, we think that you are a great applicant for student loan refinancing and consolidation.Each lender has its own specific underwriting criteria, so you may have a higher chance of approval at certain lenders.So Fi was founded by a group of Stanford business students who wanted to help their peers escape from student loan debt with lower interest rates.