Student refinancing is an excellent option for individuals with high-interest private loans.
If a graduate has a mix of federal and private loans, it is possible just to refinance the private loans.
Firstly, the refinance can secure you a better interest rate, which in turn gives you a lower monthly payment and even saves you money on the life of the loan.
Many graduates can secure better interest rates because their credit scores have improved since they first applied for a loan.
Both lenders offer lower interest rates, flexible terms and perks.
Both lenders take a more modern approach at student loan refinancing.
Cosigning for a student loan is a massive undertaking and comes with high risks.
You can end up paying tens of thousands of dollars more due to accruing interest.
Another perk of refinancing your loan is that you might be eligible to refinance the loan on your own.
Refinancing your federal loan with a private lender takes these repayment plan options off the table.
There is a way to consolidate just your federal loans together with a Direct Consolidation Loan, but this might also disqualify you for special repayment of forgiveness plans.