Cut Student Debt Fast With Secret Refinance Comparison Magic
How Refinancing Works
When you refinance, a private lender pays off your existing loans and issues you a new loan with different terms. This can be particularly beneficial if your credit score has improved since you first took out your student loans, as lenders often offer better rates to borrowers with strong credit profiles. It's important to note that refinancing federal loans with a private lender means you'll lose federal protections, such as income-driven repayment plans and loan forgiveness programs1.