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Don’t overpay on your student loans
Private student loan interest rates have fallen dramatically, which means your current interest rate might be costing you. By refinancing your student loans, you could qualify for a much lower interest rate — and save yourself from paying more on your student loans than you need to.
Take a look at this chart to see how drastically rates have dropped:
Why you should refinance today
Refinancing lets you consolidate all or part of your student loan balance into a new private loan.
When you refinance, you could get:
- A lower interest rate, which could reduce your overall cost
- A lower monthly payment, which could reduce the strain on your monthly budget
If you refinance right now, you might qualify for a historically low interest rate. Don’t wait — check your rates today to make sure you have the best deal on your student loans.
Keep in mind that if you refinance federal student loans, you’ll no longer have access to federal programs, such as income-driven repayment, deferment, and student loan forgiveness.
It also might not be a good idea to refinance right now as interest and payments on federal student loans have been suspended through Dec. 31, 2020.
Where should you start?
Student loans can be overwhelming, but refinancing them doesn’t have to be. That’s why Credible’s here to help. We let you compare rates for FREE and as a bonus:
- It can take just 2 minutes
- Checking prequalified rates won’t impact your credit score1
- You can compare multiple lenders at once to find your perfect fit
The student loan refinancing companies in the table below are Credible’s approved partner lenders. Credible will receive compensation if you use Credible’s marketplace to obtain a loan from these lenders. Our compensation does not affect placement on the table below.
You can compare prequalified rates from all of them by filling out a single form:
|Lender||Fixed rates from (APR)||Variable rates from (APR)|
|Compare personalized rates from multiple lenders without affecting your credit score. 100% free!
1 To check the rates and terms you qualify for, Credible or our partner lender(s) conduct a soft credit pull that will not affect your credit score. However, when you apply for credit, your full credit report from one or more consumer reporting agencies will be requested, which is considered a hard credit pull and will affect your credit.