Best advice on consolidating student loans
Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans.
And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options. With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.
Refinancing your student debt is just like your car or home mortgage.
The new lender pays off your old one and gives you a new one with new, hopefully lower interest rate.
If you choose to consolidate or refinance your loans with So Fi, you will also receive additional benefits such as unemployment protection, career counseling, and support every day of the week when you need it.
There are also a number of federal loan repayment plans that can ease the burden for borrowers facing tough economic times.The company boasts its desire to help its customers by offering zero fees, better interest rates, and unmatched customer service.The company has a mission to help others achieve all of their financial goals.For example, the government’s Pay As You Earn (PAYE) and Income-Based Repayment (IBR) programs allow borrowers to make reduced monthly payments based on financial hardship.But if your income is over a certain threshold, you won’t benefit from these programs.