Save Money Today on Your Student Loans
Got a Navient student loan? If so, you may have wondered if you qualify for a lower interest rate to save some money or lower your monthly payment.
The challenge is that Navient doesn’t offer a refinancing option. But that doesn’t mean you're stuck. Here are a few answers to common questions about refinancing with a different lender—and why you may want to do it.
Did you know that Americans now owe more than $1.48 trillion in student loan debt, with 2016 graduates owing an average of $37,172?
If you're part of that statistic, you may have heard that refinancing your student loans can be a smart way to pay off your loans faster and save money. In fact, refinancing can save borrowers an average of more than $15,000 over the life of their loan.
If you've been diligently paying all of your bills every month, maybe you're reading this article while enjoying a congratulatory glass of wine or a piece of chocolate cake. After all, don't you deserve a reward for all that discipline?
But hold on ... shouldn't your excellent credit score be worth a little more than a booze or sugar hangover? So why, exactly, is your lender not showing you some love?
If you're currently wrestling with student loan debt, you’re not alone. A study done by Brookings Institution found that two in five borrowers are likely to default on their student loans within five years.
But before you go into panic mode, let's talk about what those survey results really mean and discuss ways you can avoid becoming a statistic.
You may not follow the financial news in your spare time, but if you're in the midst of purchasing a home or refinancing your student loans, you've probably noticed that interest rates are expected to rise.
While, yes, that could have a negative impact on your immediate financial future, you don't have to panic. As long as you're prepared, you can take action now and benefit from the continued low interest rates—because these are still low in comparison to historical rates