Should You Refinance Your Student Loans? (4 Things to Consider)

Refinancing your student loans is can be as simple as a process as one-click shopping on Amazon, but that doesn't always mean YOU should do it. Here are the reasons to refinancing your student loans.

1. Your Loans Were/Are Unsubsidized

If your loans were unsubsidized, it's not a bad idea to refinance those loans at a lower interest rate to combat all the interest built up.

2. You have high or variable student loan interest rates

If your federal student loans have high interest rates or variable interest rates, refinancing allows you to lock in a fixed and lower rate.

3. You want to deal with one payment

Student loans comprised of a bunch of little student loans, you just happen to make one standard allocation payment that gets divided into each individual loan.

4. Refinancing HELPS your cash flow

If you refinance your student loans and you are now required to throw more towards your payment each month, then you have lost liquidity. 

Is it time to refinance?

Refinancing your student loans thoroughly depends on your personal situation and financial goals.

Tap the link below to learn More about Refinancing Student Loans

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