How can you get a lower interest rate on your student loans?
Let’s face it: student loans are expensive. However, there are ways to save money on your student loans. Here are 3 easy ways to get a lower interest rate on your student loans. Let’s dive in.
1. Refinance student loans
Student loan refinancing is the best way to get a lower interest on your student loans. Student loan refinancing enables you to consolidate and refinance your current federal student loans, private student loans or both into a new, single student loan. Yournew student loan has a lower interest rate, which helps you save money, pay less interest, and pay off student loans faster. Plus, you’ll only make one monthly payment and have one student loan servicer. How do you get approved for student loan refinancing? Student loan refinancing is best if you are employed, have stable monthly income, a credit score of at least 650 and enough monthly cash flow to pay your living expenses and student loan debt.