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What companies to choose to refinance student loans?

I wonder should I consolidate my student loans or not. I’ve heard that this process can make the interest rates lower and provide better terms. However, I’m not sure how to refinance student loans. What company do I choose? Should it be a private lender?

Many people wonder how to get rid of student loans, I’m one of them. Consolidation and refinancing are the most common terms when it comes to loans. I understand the basics of the process, yet do not know what company to choose for it. Also, are bad credit student loans possible? Because if not, I have no choice but refinance my debts.

Jan Berry

in Student Loans

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Tara Andrews on March 30, 2018

Yes, bad credit loans for students are possible. There are many private companies that do not pay attention to your credit history and are ready to issue you a loan. However, I should understand that the conditions offered in this case are far from ideal. Interest rates are huge and you will lose a lot of money. Student loans without cosigner are also possible. Everything can happen if you are ready to pay more.

So, refinancing student loans is really your best option. Thanks to consolidation, thousands of students save thousands of dollars every year. Depending on your rates and loans, the sum you save will be different. So, if you already know the advantages of the process and how to do it all, let’s move on to the companies that can help you with it.

For starters, look here - https://www.credible.com/blog/best-companies-to-refinance-and-consolidate-your-student-loans/  These six companies are believed to be the best. I completely agree with this list. All of them are well-known. I’ve heard about a few unsatisfied clients of some of them, but mistakes happen; no one is ideal. What I love the most about this article/list is that all necessary information is showed in a table that compares all of them in a convenient way. Thus, you can see major differences between these lenders and can choose what offers you like the most. More information can be found below where each one of them is described in detail.

If I had to choose, I would pick Citizens Bank. In my opinion, this is the most reliable option. The terms may be not as great as some other companies have. But you’ll be sure that nothing will happen to your loan.

“I should consolidate student loans.” This thought comes to all of us sooner or later. Personally, I think that the first option is better. The sooner you do it, the more money you’ll get to save. I’m all about efficiency and saving what I can. There is no need to pay more if you can just spend a little bit of time on refinancing and be happy with your choice.

If you wonder how to get rid of a student loan, you should pay attention to the federal ones. If you have this type of a loan, there are certain conditions that have to be met for a part of your debt to be forgiven.

Jordan Soto2 years ago

I completely agree with this answer. Consolidation is awesome when it comes to private student loans. I’ve done it myself and am happy with my choice. I don’t know exactly how much money I’ve got to save but it’s definitely more than 5000. I used SoFi. I liked its offer the most and was right to choose this bank. However, I also know that Citizens is a popular choice and people choose it.

So, here is another list for you to consider: https://studentloanhero.com/featured/5-banks-to-refinance-your-student-loans/ There is also a lot of information that may help you make the right choice. In addition, find a place to read the clients’ feedback and what they can say about consolidating student loans with their lenders.

Here is also a useful article by Forbes about refinancing student loans: https://www.forbes.com/sites/nickclements/2015/05/13/student-loans-refinance-consolidate-or-call-for-help/#32c181392641

I hope my advice will help you save your money and lessen the loans burden.

 


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