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Student Loan Refinance Companies
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- Опубликовано: 18 авг 2024
- 👉Earnest ($100 Bonus for refinancing): trufinancials....
👉SoFi ($300 Bonus for refinancing): trufinancials....
🩺 SoFi Medical/Dental ($1000 Bonus): trufinancials....
👉Splash Financial: trufinancials....
👉LendKey: trufinancials....
Check your credit score for free with Credit Karma: trufinancials....
Refinancing is a good idea for students who want to save more or are on a budget. Typically, this is because it reduces the financial burden. When you refinance, it means that the new lender will be paying off the old loan as well as lowering your interest rate. Just by getting a lower interest, you could save up much more money in the long run.
Knowing who to refinance with is essential as well. You have to make background checks on lenders before finally settling on the one you desire to work with. Other than finding a lender that caters to your needs, you should make sure they are credible and have a good reputation.
Refinancing is definitely a good thing for the people who need it. It can save you money each month and over the course of the loan. Just make sure you are aware of your credit history and paying your bills on time. Some people may want to refinance but don’t meet the criteria, such as having a low debt-to-income ratio or an unstable job. These things can be improved over time and allow you to consider refinancing.
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👉Earnest ($100 Bonus for refinancing): trufinancials.com/earnest
👉SoFi ($300 Bonus for refinancing): trufinancials.com/sofiloan
🩺 SoFi Medical/Dental ($1000 Bonus): trufinancials.com/sofimed
👉Splash Financial: trufinancials.com/splashfinancial
👉LendKey: trufinancials.com/lendkey
Most underrated video of 2020! starting in 2021 after the covid forbearance for federal loans, all my federal and private loans together would be like $800 a month, and I still can’t find steady employment. Thank you for this video and helping me weigh my options 👍🏾
Much appreciated and glad you found the video!!! I hope things work out well for you. Keep looking for that steady work! Opportunity comes to those who push though during the tough times.
This is one thing I've been wanting to look into because I pay 6%-7% in interest over my 5 student loans. I feel like I can get a better deal.
The best part about these companies I mentioned is that there is zero cost to refinance. Just takes a small amount of your time, but well worth it when you are able to lower the interest and save a lot of money. Let me know if end up refinancing!
The student loan mountain gets bigger and bigger.
At one point it won’t be catchable anymore.
Very true!!! We need to have better control of student loans.
I don’t even have student loans but this is some quality information
Haha Thank you, Shannon. Figured it's a good time to share the info for all those who still are paying on them.
TruFinancials It’s always a good time to help people !!
SoFi. My credit is 820. I have solid 110 on time student loan payments. SoFi best rate is 4.86 during COVID!
Once you got approved and submit your application, will the new loan company pay off your existing student loan (then you start paying the new loan)? or the new loan company deposits the money into your bank and then you have to pay the existing loan manually? Sorry I haven't refinanced before.
Hi Shao, that's a good question to ask. So the refinance company will pay off you existing loan. Then you would start paying them. Hope this helps.
I just refinanced with Sofi. They offered $100 for transferring but then gave me $200 instead for funding my account. I just barely made the $5,000 cut off because my monthly payment had not posted yet.
That's exciting that you got the extra bonus. They change the offer so often I didn't want to mention it in the video itself. Just a nice surprise 😊
...Also is earnest the only company (that you mentioned that allows you to combine multiple loans? private and federal?)
I miss your net worth updates and monthly reports. Can you bring those back?
Hi Sharon. I don't believe I'll be bringing back budgeting, although I might do yearly updates on my net worth.
What is the best fixed rate company? And has a good unemployment policy.
Earnest might be your best path to take in that regard with fixed rate and do have Forbearance for unexpected situations.
Does earnest get you with a hard pull on your credit ?
Only if you continue with the application process. It starts with a soft pull and an estimate of your rate.
SoFi denied my application, so I'll look into these other ones.
Just out of curiosity - did they tell you why?
@@amandaramsay1501 they did not. Their answer was very vague. I was denied by all the rest as well.
are these options for private loans?
Hi Laura. Yes, these companies are also able to refinance private student loans as well.
Thank you!!
You're welcome, Amber!
so my school is offering me $41,000 which cuts my cost down to $13,000 per year and I am terrified because my family is not showing any sign of wanting to pay.they said community but the community college does not have my major. i am trying to apply for last minute scholarships (it being late May and all) and i am trying to consider whether or not student loans are worth it and where to look. if anyone can please help me that would be great bc i am having breakdowns from the panic and worry my family is causing me.
Usually, you can get a lot of basic classes done at a community college and then transfer to a university. That can save you thousands. Most local community colleges work with universities to make it an easy transfer. Talk to a community college counselor to help you figure it all out.
Also it is cheaper and you can set up a payment plan at the community college