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Can you refinance student loans after you have consolidated them?

I consolidated my student loans a couple years ago and got them to a fixed interest rate. I didn’t know what I was doing–I was young and no one explained to me what was going on. Now that I’m a little older, I know that my interest rate is not the best that it could be. I’d like to refinance, but I don’t know if it’s possible since I have already consolidated. Please help! Thank you!


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2 Responses to "Can you refinance student loans after you have consolidated them?"

  1. shaneeiu says:
    As of 2yrs ago no, unless it has changed. You can always call and ask who you consolidated with.
  2. patticharron says:
    There’s not much you can do. Student loans are not something that another lender will willingly take on. Your best bet at this point is to call the lender who holds your loans and ask if the rate can be adjusted a couple of points. Very often, after 12 consecutive, on-time payments, you can get a break on the interest.

    Failing that, the best thing to do is to voluntarily increase your payment amount. You will be amazed at the impact this will have on your balance and repayment term.

    I had about $5000 in student loans set up to pay $50 a month for ten years. I paid $100 a month and paid them off in three years. You don’t have to double your payment to get results. Any extra you pay goes a long way to reducing the debt, the accumulated interest and the repayment period.

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