4 Reasons to Refinance Your Student Loans

After graduation, student loan debt might seem like an untamable beast, but it doesn’t have to stress you out. Refinancing might be a smart move if any of the following apply:

1 – A lower rate or shorter term is available.
If interest rates have fallen since you took out your loans, a refi could lower your payments. Or if you have more income coming in, you may be able to pay off your loans faster.

2 – Current fixed interest rates are lower than your variable-rate loan.
Switching to a lower fixed rate could save you money over the life of your loan.

3 – Your finances have improved.
If your credit score or income has recently increased, you may be eligible for a better interest rate.

And 4 – If interest rates are expected to rise, refinancing your variable rate loans could help you lock in a lower rate before that happens.

Refinancing federal student loans means you’ll lose access to federal benefits and protections, ​​so visit studentaid.gov to get all the details first.

Check your rates today to see if a student loan refi could help ease your mind and take some of the sting out of student loan debt.