Pros and cons of consolidating student loans
And if you combine a refinanced student loan with some serious money management habits in your personal life, you could be paying down your debt incredibly fast.So is student loan refinancing feels right for you, just how do you go about doing it? You can start with your personal bank and ask them about student loan refinancing options. The student loan refinancing market is growing more and more as the student debt problem grows with it, and there are now many tech-savvy options for refinancing.Consolidating or refinancing student loans are two popular options that could help you manage your payments, save money and open up additional options for loan forgiveness and repayment.
If you have a relatively steady job or financial situation but you’re stuck with extremely high interest rates, you may get some loan relief through refinancing, which will help lower your monthly payment and insure more of your money is going towards the principal and not interest.
I’m part of the , which means that if you’re interested in refinancing with them and you get approved, they’ll give you a 0 cash bonus towards your debt – a nice chunk of change to help you start paying down those loans!
I earn a small commission if you decide to use my link – but so do you 🙂 And like I say on the rest of my blog, I only recommend products I love.
And they have a great-looking, easy-to-use interface (which is more than you can say for other loan websites). I’ve watched them grow so much over the last few years from serving just grad students to opening up their doors to thousands of undergrads struggling to pay off their debt.
I’ve also gotten a chance to meet the founder and the So Fi team; you can tell they’re genuinely interested in helping as many people as possible lower their student debt payments.