Applying with a co-signer can help you increase your chance of qualifying for refinancing, and could also help you get a better interest rate than you would get if you applied by yourself.
In that case, a seven-year term could bring a more manageable monthly payment, while still ensuring you pay off your loans in under 10 years.
Remember, though, that no matter which lender you go with, you can always pay more than your required monthly payment and pay off your loans faster Set it and forget it: If you want to avoid the hassle of remembering to make your monthly payments, setting up auto-pay can be a great option.
However, what sets Connext apart from other lenders is that it helps connect students with smaller regional banks and alternative lenders.
Borrowers must: Choose from a variety of loan term options: Connext offers up to seven choices for refinancing loans ranging from 5 to 20 years for variable rate loans and between 5 and 15 year terms for fixed-rate loans No fees to worry about: Connext does not charge loan origination fees or prepayment penalties Smaller lenders might mean better loan terms: Connext helps to connect borrowers to smaller banks and lenders, which might help borrowers get better loan options or interest rate deals Dedicated support per borrower: When you choose to refinance your loan(s) with Connext, you’ll be assigned a dedicated advisor who will support you through the process and be on hand to answer any questions you might have A relatively new service: Connext is a new entrant to the student loan scene, and has only been offering student loans and student loan refinance since 2016, making them less established than some other lenders Edvestin U is not like other lenders — whereas most other lenders are typically for-profit banks or credit unions, Edvestin U is a non-profit lending program offered by the New Hampshire Higher Education Loan Corporation.
And College Ave will even reward borrowers who opt for auto pay with a 0.25% discount on their interest rate Fee free: College Ave doesn’t charge any origination fees, pre-payment fees, or fees for paying more than the minimum amount due each month, which is great news for those who are able and want to pay off their loans faster High interest rates: While College Ave provides very competitive interest rates for creditworthy borrowers, even lower rates may be available to borrowers through other lenders.
Comparing prequalified rates from College Ave and other lenders can help you find the absolute lowest rate available In August 2016 Relia Max, a platform and service provider for student loans, introduced Connext, its private student loan solution, which aims to help students find lenders to refinance their student loans or issue them new undergraduate or graduate student loans.
Adding a creditworthy cosigner can help you qualify for offers you might not qualify for by yourself.
But cosigning a loan is a big responsibility — i Help offers borrowers the option to release their cosigners from obligation after two years.
Refinance without a degree: Unlike some lenders, Citizens offers refinancing to some borrowers who have not completed their bachelor’s degree.
If you have stopped attending school and do not plan to complete your degree, you are eligible to apply for refinancing through Citizens after making twelve full, on-time payments Forbearance options: Citizens borrowers who meet the eligibility requirements and are struggling to make their monthly payments can opt for up to twelve months of forbearance (which essentially puts your payments on hold for a set number of months) Pay off your loans early with pre-payment: Got extra money to pay down your loans sooner?
The primary borrower must also meet certain credit requirements before cosigner release can be granted, including a minimum income and credit score, and a maximum debt-to-income ratio Multiple repayment options: i Help borrowers can request interest-only payments for up to 24 months.