This 2-Minute Move Can Save You Thousands On Your Student Loans
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Few college graduates manage to escape their institution of higher education without a mountain of student debt. Said student debt tends to stick around for years due to their high dollar value.
There isn’t much you can do to eliminate your loan balance (barring loan forgiveness programs for certain occupations), but wouldn’t it be nice if you could score a lower interest rate on your debt without looking around for hours and sifting through tons of options?
You could find a lower rate in 2 minutes by using Credible, an online student loan refinancing marketplace that does the hard work for you.
Checking your student loan refinancing rate with Credible is free.
What is Refinancing?
Refinancing is the process of replacing a current debt of yours with a new one under different terms.
People refinance their loans for several reasons: securing a lower interest rate, consolidating multiple debts into one loan with better terms, lowering the monthly payment amount, and generally simplifying their debt situation. Overall, refinancing is best used when it can save you money.
When you’re approved for refinancing, the bank gives you the entire loan upfront just like any other loan. You then use this loan to pay off your old obligation, then you begin your monthly payments for the new loan.
Now, you already know that shopping for a loan can be time-intensive. But what if you could compile several refinancing options that you’re qualified for in a couple of minutes?
That’s where Credible comes in.
Use Credible to Find A Better Rate and See How Much You Could Save
When you’re looking to refinance your student loans to a lower rate, you can spend hours shopping around for options, let alone ones that you’re qualified for.
Credible does all that work for you. You spend all of 2 minutes filling out information about your education and finances.
Credible instantly presents you with prequalified refinancing options from up to 10 lenders.
In just a couple quick minutes, you could get a better interest rate on your student loans, helping you to save thousands over the lifetime of those loans.