A great way to reduce your student loan debt is to refinance. An important part of that is looking for a good lender that will offer you good terms. In fact, the best refinance companies are going to give you the best terms. But, what do you even look for? And where do you start? …
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LendKey Snapshot LendKey offers both private student loans and student loan refinancing. By connecting borrowers with a network of 100+ lesser-known credit unions and community banks, LendKey allows you to work with smaller lenders with low rates and good customer service, rather than traditional lending institutions. LendKey’s student loan refinance offering is available to graduates …
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EdvestinU Snapshot EdvestinU is a student loan program from the nonprofit New Hampshire Higher Education Loan Corp. They offer private student loans and student loan refinancing to students across the country. In order to qualify for EdvestinU’s student loan refinancing, you do not need to be from New Hampshire or even have graduated school. EdvestinU’s …
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Refinancing your student loans can save you thousands over the life of your loan. By refinancing, you can swap your current student loan(s) for a new loan with a better interest rate or terms. If you have excellent credit or stable income, or a cosigner who does, you may benefit from refinancing your student debt. …
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According to Forbes, the median total cost of becoming a doctor in 2020 was between $255,517 to $337,584, leaving many with hefty student debt totals. If you’re looking to lower the costs of your medical school loans, consider loan refinancing. Refinancing is the process of taking out a new loan with better terms to repay …
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Student loan refinancing is one of the best ways to save money when paying off your student loans. By refinancing, you’d take out a new loan with more favorable terms to repay your current debt. Ideally, this new loan will have a lower interest rate or monthly payment (or both). Although you may be wondering what …
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As a borrower, refinancing your student loans can be beneficial. For example, borrowers who use Sparrow to refinance save, on average, $17,000 over the life of their loan. That said, the savings can vary greatly depending on the borrower. With that in mind, you might be wondering, “Is refinancing student loans worth it?.” It’s always …
Managing many student loan payments at once can be very difficult. That’s why student loan consolidation sounds so enticing. You can streamline your payments into one and make it easier on yourself. It sounds like the perfect solution. However, it’s essential to think about student loan consolidation pros and cons. Before you start the application process, …
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If you’ve already refinanced your student debt once, you know just how much it can save you. For example, borrowers that use Sparrow to refinance save, on average, $17,000 over the life of their loan. With that in mind, you may be curious if you can refinance more than once. And if so, how many …
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Choosing to refinance your student loan can be a difficult decision. You must consider your loan type, interest rate, and income. The decision is not easy, so here’s what you need to know before moving forward with it: What is Student Loan Refinancing? When you refinance your student loans, you’re allowing the lender pay off …
With college attendance costs going up, Parent PLUS Loans are a great way for you to help your children attend an affordable school. However, the downside is these loans can become difficult to pay back over time. What can you do then? Transfer the Parent PLUS Loan to the student. But, how can you do …
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Refinancing your student loan can be an excellent way to save money and improve your finances. By refinancing, you can take advantage of your improved credit score, higher income, and other positive financial changes to secure a better interest rate or more favorable terms. However, it’s important to note that refinancing your student loans can …
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As a parent, it’s your job to make sure your kids are okay. That’s why back when they needed help with money for college, you gladly took out loans. But, the loans are getting harder to manage so you’re thinking about refinancing. You wonder: How can I refinance my parent PLUS loans? Can I refinance …
In a very simple sense, student loan refinancing allows you to swap your current student loan for one with a better interest rate or terms. By doing so, you can save thousands of dollars over the life of your loan. In fact, borrowers who used Sparrow to refinance reduced their interest rate by 2.29 percentage …
Before choosing just any refinance loan, make sure you’re getting the best rate possible. Here are the best rates for student loan refinancing.
Nurses are not exempt from the national student loan debt crisis. On average, nurses graduate with a median student debt of $40,000 to $54,999. For this reason, many nurses turn to student loan forgiveness programs to ease the burden of their unpaid nursing education debt. There are many available nurse loan forgiveness programs, but they …
ISL Education Lending Snapshot ISL Education Lending is a nonprofit student loan lender offering both private student loans and student loan refinancing. ISL Education Lending refinance loans are best for borrowers who want to work with a nonprofit lender, want competitive interest rates, on-site loan servicing, or want to refinance without having a degree. Fixed …
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INvestED Snapshot INvestED offers private student loans, parent loans, and student loan refinancing. INvestED’s student loan refinance offering is best if you are a resident of Indiana or student who attended school in Indiana seeking competitive interest rates and a variety of repayment options. Fixed APR Range: 5.85% to 9.48% Variable APR Range: 8.63% to …
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SoFi Snapshot SoFi is one of the largest student loan refinance companies in the industry. With competitive interest rates, a diverse set of repayment options, and exclusive member benefits, SoFi is a good fit for borrowers with an associate’s degree or higher or borrowers with a high income and strong credit score. Fixed APR Range: …
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MPOWER Snapshot MPOWER is an online lender that offers non-cosigned undergraduate and graduate student loans to international, domestic, and DACA students, as well as student loan refinancing. It is best for international students and DACA students who don’t have a credit history and can’t access a qualified cosigner. Fixed APR Range: up to 11.74% (12.69% …
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Arkansas Student Loan Authority Snapshot The Arkansas Student Loan Authority (ASLA) is an Arkansas state entity that provides educational funding for all Arkansas students who wish to attend higher education institutions. ASLA offers three types of student loans: undergraduate and graduate loans, family loans, and student loan refinancing. While ASLA’s student loan refinancing is only …
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With the way prices are rising right now, it can be hard to make your monthly loan payments. In situations of severe financial distress, you can pause your monthly payments with student loan forbearance. At least for a little bit, giving you time to regain financial stability so you can start making payments again. If …
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While the average 4-year dental program could run you around $400,000 with all expenses included, the career trajectory is promising. Average dentist salaries outrank various other industries, putting newly graduated dentists in a fairly sound financial position. Despite competitive salaries, the average dental student graduates with around $300,000 in student debt. While daunting, the significant …
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College Ave Student Loan Refinancing Snapshot College Ave offers both private student loans and student loan refinancing with competitive rates, flexible repayment terms, and strong customer service. College Ave’s student loan refinance offering is best if you are seeking a more flexible repayment term that allows you to find a loan that matches your budget. …
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Nelnet Bank Snapshot Nelnet Bank offers both private student loans and student loan refinancing. Nelnet Bank’s student loan refinance offering is best if you are seeking competitive rates, a flexible forbearance policy, and the ability to refinance both private and/or federal student loans, including parent PLUS Loans. Fixed APR Range: 7.12% to 11.19%* Variable APR …
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Brazos Snapshot Brazos is a non-profit lender that offers private student loans and student loan refinancing. Since it was launched in 1975, Brazos has focused on bringing transparency and low-cost loans to Texas residents. While Brazos student loan refinancing is only available to Texas residents, the non-profit lender offers competitive rates and flexible terms to …
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If you have a stable income and a solid credit score, student loan refinancing can save you thousands over the life of your loan. But if you’re planning to refinance federal student loans, know that it does come with some sacrifices. Let’s take a look at the pros and cons of refinancing federal student loans. …
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When paying for college, there are two main types of student loans you will find: federal and private. Within these categories, there are several kinds of loans, each designed to cover a different academic program. Before taking out a student loan, it’s important to understand the broader landscape of your loan options. That way, you …
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Paying back your student loans can be a hassle. Do you know what can make them less of a hassle? Refinancing! Maybe you’ve heard that term before but aren’t actually sure what it means. Let’s go over it. What Does It Mean to Refinance a Student Loan? When you refinance your student loans, you’re agreeing …
You’ve exhausted all of your scholarship, grant, and work-study options. Now, it’s time to start considering student loans to cover that last mile of financial need. When you look at your student loan options on paper, they may seem suspiciously similar. However, there are various elements to loans that can make them drastically different. In …
Sparrow partners with financial institutions to provide students and their families with a streamlined search and comparison process that helps borrowers find the best private student loan offers in minutes. We believe transparency is key to earning and maintaining borrowers’ trust. That’s why we take who we partner with seriously. The lenders that borrowers choose …
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With rising college costs, student loans are placing a strain on more and more people’s lives. Student loan refinancing can help with that. This is what you need to know about when to refinance your student loan: What is Refinancing? Refinancing is when a lender agrees to pay off your current loan(s) in their entirety. …
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The bad news: Unfortunately, there’s several mistakes we see students make when dealing with their student loans. The good news: We’ve compiled them into a list with steps on how to avoid those mistakes so you don’t make them. Here we go! 1. Borrowing Too Much Money These aren’t in any specific order, but this …
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Looking at your student loan balance is like biting into a chocolate chip cookie only to realize it’s actually oatmeal raisin. Tragic.
An Annual Percentage Rate, or APR, is the interest rate applied on a student loan for the whole year. This number may differ from your interest rate because it takes into account any fees associated with your loan.
Even thinking about your student debt can be overwhelming, but knowing how you’re going to pay it off is important. Let’s review the 3 main strategies for paying off debt and their general effectiveness. 1. (Least Effective) The Shotgun Approach The Shotgun Approach is where you pay just a bit more than the minimum payment …
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Refinancing is actually surprisingly easy to understand: a lender will pay off your existing loans and give you a new one with a lower interest rate or shorter repayment plan. Typically, you can refinance both your federal and private student loans.
It’s no secret that the cost of education has increased dramatically over the last several decades. This increase in price has led to more and more students taking out student loans in order to afford their education.
