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Refinance student loan
To refinance student loan, please take a few minutes to consider the following issues.
Refinancing federal student loans and private loans must be done separately, due to intrinsically different structures of the two.
Federal loans allow obtaining a substantially lower interest rate than private loans.
Private loans are essentially based on the assumption that with more education the level of income will rise.
Therefore, it is critical to refinance student loans separately depending on their nature.
Should you mix the two together, you’ll end up paying twice as much interest rate on the loan.
Remember, the more impeccable your credit history, the smoother your refinancing process will be.
Also, keep track of the annual rate changes for refinancing federal student loans.
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