Once you have graduated from college or received your advanced degree and have established yourself in the work force, there is a distinct possibility that your credit will improve and you will want to get out from under the loan you took out while you were still in college. Refinancing your student loan can save you thousands of dollars compared to sticking with your original loan, and allow you to breathe a lot easier by reducing your monthly payment.
If this is your situation, you should call LoanMerica to discuss the possibility of refinancing your student loan to get a more favorable interest rate and lower monthly payments. If you have a Bachelors, Masters or PhD and meet credit requirements, you are eligible to refinance your student loan. To help determine if refinancing is right for you use our student loan refinancing calculator.
Note that refinancing a federal student loan will disqualify you from federal loan forgiveness programs. But if you are not eligible for a forgiveness program, refinancing your student loan is the best way to lower your payments.
LoanMerica offers a lot of student-loan refinancing options, including fixed and variable-rate loans, so contact us at (800) 391-9310 to discuss just how much money you can save.