3 reasons to refinance your student loan

When interest rates are dropping

The Fed’s 0.5% rate cut this week could mean lower student loan interest rates across the board. A lower rate could potentially save you thousands of dollars over the course of your loan, and even lower your monthly payment.

When your financial situation has improved

If you’ve graduated and scored a job, your credit score, debt-to-income ratio, and annual earnings are all likely to have improved. These factors could help you qualify for better terms regardless of the macroeconomic situation.

When you want to have only one payment

If you’ve had to take out several student loans during the course of your education, refinancing can serve as a form of debt consolidation. It can allow you to combine all of your loans into one, convenient monthly payment.

The information provided in this email is for educational purposes only and is not intended as financial advice.