Refinancing is a way to get better terms and interest rates on a loan. Student loan refinancing can help you access better repayment plans and even lower your interest payments.
See some common questions and answers below
By refinancing a student loan, you can lower your interest rates and possibly pay off your student loan more rapidly. If you have a federal student loan, you may lose some repayment flexibility and even loan relief, so investigate the change in terms carefully.
If your interest rates are higher than current interest rates, you may be able to refinance your student loan to get lower interest rates. This lowers the amount of money that you will repay over time.
Anyone with higher than current interest rates should investigate student loan refinance options. If you have federal student loans, investigate the refinance carefully as you may have better terms with your existing loans.
Because loan terms, interest rates, and amounts vary widely, there is no average. Your refinance options are based on the total amount, interest rate, credit history and similar factors.
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