In the following sections, we will go over the refinancing and consolidation lenders in the industry and what they offer.
This post is the result of extensive research into the best options and compares the 9 most common online consolidation and refinancing choices.
The repayment term length will vary depending on your needs; however, So Fi offers 5-year to 20-year plans for both the fixed and variable interest rate.There are many different benefits to choosing and working with So Fi to refinance your loans.In fact, the company has a total of 3,200 ATMs throughout 11 different states and about 1,200 branch locations.Citizens Bank is dedicated to offering a wide variety of services to its customers including convenience when it comes to banking.These companies are all reputable private or federal companies that accept online applications.
If I have missed any companies please let me know and I will add them to this comparison post.
In addition, So Fi also offers unemployment protection, which will come in handy when you lose your job.
If your job is lost, So Fi will suspend your payments temporarily to help you get back on your feet and start earning an income once again.
One of the biggest downsides to student loan refinancing is that you may not qualify for it.
So Fi does look at your credit, but they stress emphasis on your career experience, financial history, education, and monthly income vs. Another downside is that it is possible for your rates to be higher than the estimated amount.
Refinancing your student debt is just like your car or home mortgage.