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Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » Best way to refinance the student loan?

Best way to refinance the student loan?

My girlfriend has an outstanding student loan of $3,000 with 8% annual interest day. What’s the best way to refinance this loan in order to reduce the payments? If you know any good student loan programs, I would like to hear about them.

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2 Responses to "Best way to refinance the student loan?"

  1. curious george says:
    Before you look into consolidating/refinancing your loan, check with your current lender to see if you can reduce payments or defer them for a short period of time.

    If the problem is that the current payments are too high or if you are in between jobs then definitely check with your lender, but be aware that reducing your payments or delaying your payments will significantly add to the total amount that you’ll end up paying.

    Good luck!

  2. knight01 says:
    Typically lenders won’t do a refinance for any amount less than $7,500, it’s just too costly for them to make sense.

    Contact the current lender to see if the offer any type of rate reduction program. Some lenders offer a discount if you allow them to auto deduct the payment from your checking account, also if you have a good payment history you may get a discount for that.

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