Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter


redhotloantips fat loss

The Truth About Refinancing Student Loans

Written by: Bob Hett

There are many students and graduates out there that are struggling with paying for their student loans. Often times, these people have heard of refinancing student loans in order to make their payments lower and more manageable. But before you consider refinancing student loans, there are some things you should first consider. Let this be your guide to the truth about refinancing student loans.

Refinancing student loans often seems like a good idea. In fact, refinancing student loans is a good idea, if you use it to your advantage. We shall go over that in a minute. First, you need to know that most student loans are often of a variable percentage rate until the rate is locked through means of a loan consolidation, or by refinancing the loan. Currently, interest rates are quite low so it is a good time for refinancing student loans.

Refinancing student loans is only available to students who have always paid their student loan bill on time. If this does not sound like you, then I wish you good luck trying to refinance your student loan. Refinancing rates are often offered between one and two percent lower than your original student loan rate. Most refinancing rates will save you up to 60 percent. But this is where the drawback is that most people don't realize when they refinance their student loans.

The drawback is a hidden drawback that most people never really see. I will explain. In order to get your payment lower through refinancing, you are given a much longer time period to pay the loan off. Instead of 5 years, it may be 20! This may sound good in the beginning. At the time, it will leave you with extra money that you may need for other bills. But in reality, it just costs you more money in the end because you will be paying interest much longer to the lender.

The smart way to do it is to pay more towards your lower interest rate student loan bill that you have just refinanced. This way it is cheaper and you will pay it off much quicker than normal. But only do this if you can afford it. If you refinanced your student loan because you couldn't afford the payment, then just pay it off as best you can at your own pace.

This is the truth about refinancing student loans. This information can either be welcomed, or a hard thing to hear. Try to use this information to help you when you refinance student loans. If you utilize all of the information at hand, you should be able to pay your loan off faster and save some money.

Bob Hett, a Financial Advisor, offers expert advice and great tips regarding all aspects concerning Medical Insurance coverage. Get the information you are seeking now by visiting http://www.medicalinsuranceguide.info
About the Author

Bob Hett, a Financial Advisor, offers expert advice and great tips regarding all aspects concerning Medical Insurance coverage. Get the information you are seeking now by visiting Travel Medical Insurance

Other Related Articles:

Debt Consolidation Loans- Presenting a Systematic Approach to the Debt Problem
Most of us will wonder whether consolidation of debts in the debts consolidation process is as important to make the entire debt settlement process named after it. Considered just a preliminary processing of debts, borrowers do not regard the...read more

Miami Online Home Loans
Living in Miami, Florida has so much to offer. Tropical weather, mild winters, lovely beaches, a thriving night life, a diverse community, and great food are some of what you can find in this bustling city. Home prices have been increasing sharply...read more

Homebuyer's Loan Guide
If you are a first time homebuyer, there are a few points on a loan for homebuyers that you should keep in mind. These pointers simply ensure that you donít burden yourself with a loan or the repayment and that you can get a justified return. The...read more

Return to Home


Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map