What is student loan refinancing?

What is Student Loan Refinancing?

Refinancing student loans allow you to do a few things. If you have multiple loans, you can combine them into one brand new loan making it more convenient to stay on top of personal finances. You’ll also sometimes have the opportunity to release cosigners on your existing loans eliminating them from any liability for your loans. But probably most exciting is the opportunity to save money. With a student loan refinance, you are replacing all of your existing student loans (or a single student loan if you only have one) with a new loan with new terms. By qualifying for a lower interest rate or reducing the payback period of the new loan, you could save thousands in interest over the life of the loan.

Refinance Student Loans

Save thousands by refinancing through credit unions and community banks that prioritize people over profits.

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Checking rates will NOT affect your credit score.

Savings of over
$16,000

rates as low as (with AutoPay)

2.47%

VARIABLE APR

OR

3.49%

FIXED APR

Save Money with Student Loan Refinancing

The average student graduates college with more than $30,000 dollars in student loans. Those that go on to graduate school will graduate with even more debt, many times in the six figures for professional degrees. Borrowers don’t always realize that their loans are costing them more than they think. Interest is tacked on to the loan amount (i.e., principal) making the total cost of the loan greater. While there is no way to eliminate student loan debt without paying it off, there are some tactics to reduce the overall cost of the principal and interest combined. One way is with a student loan refinance.

You could be saving thousands of dollars when you refinance your student loans.

Many borrowers are eligible to refinance but don’t know where to start. The first step is to get familiar with how student loan refinancing works.
You can easily refinance your loan using lendkey

Benefits of Using LendKey

Lower Your Payments

You can reduce your interest rate, lower your monthly payments, and save thousands over the lifetime of your loan when you refinance student loans.

Simplify Your Finances

Through lendkey you'll be able to refinance student loans, both federal and private, including graduate loans, into one convenient loan at a great rate.

No Origination Fees

When you refinance student loans through lendkey, the community lenders won't charge you any origination fees.

Flexible Options

Many of lendkey's student loan refinance lenders offer various repayment options, including interest-only payments for the first four years.

CHECK YOUR RATE

Let's not forget about SoFi.

SoFi is a finance company that actually wants you to get ahead. That means low rates to refinance student loans. Personal loans to help you cut credit card rates by an average of 42%. And all kinds of cool community and networking events.

Use this link to get a $100 bonus once you become a member by refinancing your student loans or taking out a personal loan