Six Reasons You Should Not Refinance Your Student Loans
Refinancing often means lower interest rates, but some borrowers should avoid a student loan refinance.
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Note: The lowest listed rate for each lender is listed as an APR and includes a .25% autopay discount where available. The industry standard among nearly all lenders is to offer this discount.
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Refinancing often means lower interest rates, but some borrowers should avoid a student loan refinance.
Slight differences in interest rates, loan terms, and approval chances give Splash Financial the edge over Earnest.
Splash and SoFi are very close on interest rates and loan terms. Splash Financial is slightly ahead for now, but both lenders have been at the top of our rankings.
Student loan refinancing for lower interest rates sounds great, but there are reasons even a well-paid Doctor should not refinance.
Lawyers with federal student loans should think twice before starting the refinance process.
Understanding how student loan refinance companies make money can help borrowers find the best deal and avoid scams.
Getting the lowest possible student loan refinance rate requires shopping around. With the right strategy, checking rates takes very little time.
Refinancing might be a great idea, or it could be a horrible mistake. It all depends on your existing loans and personal circumstances.
Refinancing student debt during college usually isn’t an option, but there are moves to be made during school that make a big difference when you start repayment.