Fix Your Student Loans By Getting a Lower Interest Rate

October 4, 2018

Why should you refinance your student loan debt?

Well, it's simple to check your rate and by doing so you can save yourself a lot of money. There are a lot of competing student loan companies and that’s good for you. That means you can get the best possible interest rate which can save you a lot of money. The average user saves $18,668 when refinancing. You can check your rate for all of the lenders on this page in under 3 minutes.

Read the Full Guide

If you have a high interest rate on your student loans.

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 over 4%, then refinancing them will save you a lot of money. Student loans with 6.8% interest rates mean that you’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.

If you don't qualify for public student loan forgiveness.

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, it’s best to weigh your options and see if refinancing or PSLF will save you more money over the life on your student loan.

LOAN AMOUNT	VARIABLE APR	FIXED APR	LOAN TERMS (YEARS)	ADDITIONAL DETAILS	COMPANY WEBSITE
$5K - 300K	2.47-5.87%	3.89-6.32%	5 - 20	✅ Cosigner Optional ✅ No Origination Fees ✅ No Prepayment Fees ✅ Unemployment Protection	Get Started
$5K - $300K	2.47-6.61%	3.90-7.80%	5 - 20	✅ Cosigner Optional ✅ No Origination Fees ✅ No Prepayment Fees ✅ Unemployment Protection	Get Started
$5K - $300K	2.72-7.25%	3.49% - 8.72%	5 - 20	✅ Cosigner Optional ✅ No Origination Fees ✅ No Prepayment Fees ✅ Unemployment Protection	Get Started