We recently refinanced $78,000 in student loans after paying as much as possible each month for the last two and half years. But you want to know whether or not you should refinance your student loans. Well there is a reason for waiting to refinance our student loans.
Refinancing is really simple. There is an application process for companies like LendEdu who match you with the best private student loan lendors for you.
1. Do you need a cosigner? 2. How is your career? Is it stable? 3. What are your life and family goals? 4. Is it better to stay federal or go private?
We live in a world of interst focus. We see the low number and we automatically think the lower the better. Myself included, sometimes I think the lower interest rate means I am saving money.
Consolidating student loans is almost always a bad idea. Just like the scenario above, consolidating student loans hurts cash flow and the ability to attack student loans individually.
Chances are if you are reading this article you are serious about paying off your student loans. If you are just looking to lower your payments and keep paying the minimum then go to Lendkey and refinance your loan here.