If You Can’t Pay Student Loans, Here’s The Expert Advice You Need

Are you struggling and can't pay student loans off? Here's what you can do if you need help paying off student loans.

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Did you know you can get paid to lower your student loan bill? Learn about refinancing student loans and if it's right for you.

The student loan crisis is worse than ever, with a rising number of college grads falling behind on repaying their loans.

More than 1 million Americans a year are defaulting on their federal student loans!

If youโ€™re in this boat, it might be time to think about refinancing. Doing so can help you pay off your student loans faster and save money in the long run.

Remember, sometimes you can make extra money just byย finding new ways to save.

A big one that many people fail to remember is that you can save around $300/month just by refinancing your student loan debt.

How To Manage Your Student Loans

One easy way to do this is withย BeatStudentLoans.com, a website that allows you to quickly review top student loan refinancing lenders and much much more.

Are you wondering did I get the best deal on my student loan?

Should I refinance?

How do you go about refinancing?

Let's face it, refinancing student loans can be confusing.

Luckily websites likeย Beat Student Loansย will help you determine ifย refinancingย is your best optionย or find the best debt payoff methods to helpย pay off your student loans faster.

Get Paid for Having Student Loans

Did you know you can get paid to lower your student loan bill?

There are actually companies that pay you ($200-400) to refinance your student loans. This is a great way toย save thousands on your student loans.

Beat Student Loans has compiled a great resource for you if you are interested in refinancing your student loans in order to save thousands on your loans. The caveat? You must have a good credit score usually to get approved.

Justย get your rate instantlyย and see which companies are offeringย $200 sign up bonusesย by using the table below.

Below are the top 3 lenders for 2019ย (get estimated savings in under 2 minutes):

COMPANYLOAN AMOUNTVARIABLE APRLOAN TERMS (YEARS)ADDITIONAL DETAILSCOMPANY WEBSITE

$5K to $300K

2.25% toย 6.39%

5 - 20

โœ…ย Cosigner Optional
โœ…ย No Origination Fees
โœ…ย No Prepayment Fees
โœ…ย Unemployment Protection

Get Started

refinancing student loans

$5K to $300K

1.90% to 5.25%

5 - 20

โœ…ย Cosigner Optional
โœ…ย No Origination Fees
โœ…ย No Prepayment Fees
โœ…ย Unemployment Protection

Get Started

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LendKey Student Loan Refinance

$5K to 300K

1.88% to 5.64%

5 - 20

โœ…ย Cosigner Optional
โœ…ย No Origination Fees
โœ…ย No Prepayment Fees
โœ…ย Unemployment Protection

Get Started

When Should You Refinance Student Loans?

creative ways to save money

  • You have a High-Interest Rate: Fortunately, for many graduates, refinancing can be a great opportunity to help with loan payments. If you have federal or private student loans with an interest rate of over 4%, then refinancing them will save you a lot of money. Student loans with 6.8% interest rates mean that youโ€™ll need to pay $586 a month in interest alone for every $100,000 you owe. You could also refinance your student loans to a longer-term to help lower your monthly payments.
  • Don't Qualify for PSLF: Public student loan forgiveness (PSLF) was created in 2007 in order to encourage graduates to pursue full-time work in public sectors including nonprofits and government organizations. If you are working in one of these fields, and have been consistent with your payments, itโ€™s best to weigh your options and see if refinancing or PSLF will save you more money over the life on your student loan.

What Would You New Rate Be by Refinancing?

If you are interested in refinancing student loans, it's simple to check. Here are our top 3 picks for refinancing student loans. You can get your new rate in under 2 minutes by visiting the site:

COMPANYLOAN AMOUNTVARIABLE APRLOAN TERMS (YEARS)ADDITIONAL DETAILSCOMPANY WEBSITE

$5K to $300K

2.25% toย 6.39%

5 - 20

โœ…ย Cosigner Optional
โœ…ย No Origination Fees
โœ…ย No Prepayment Fees
โœ…ย Unemployment Protection

Get Started

refinancing student loans

$5K to $300K

1.90% to 5.25%

5 - 20

โœ…ย Cosigner Optional
โœ…ย No Origination Fees
โœ…ย No Prepayment Fees
โœ…ย Unemployment Protection

Get Started

LendKey Student Loan Refinance

$5K to 300K

1.88% to 5.64%

5 - 20

โœ…ย Cosigner Optional
โœ…ย No Origination Fees
โœ…ย No Prepayment Fees
โœ…ย Unemployment Protection

Get Started

If you have more questions about if you should refinance your student loans, take a look at our expert guide.

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Brian Meiggs
Brian Meiggs
Brian is the guy behind TopSavings and My Millennial Guide and is a personal finance expert who has spent the last few years writing about how people can save and make more money. He has been quoted in several online publications, including Yahoo! Finance, NASDAQ, MSN Money, AOL, Discover Bank, GOBankingRates, Student Loan Hero, Fit Small Business, Cheapism, SmartAsset, Bankrate, RISE Credit, AllBusiness, Cheddar, Commonbond, Niche, Rewire, Credit Donkey, Debt.com, and more. He uses the free Personal Capital app to manage his cash flow and net worth.