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Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » what does it mean to refinance a student loan and do yo get money in the process?

what does it mean to refinance a student loan and do yo get money in the process?

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3 Responses to "what does it mean to refinance a student loan and do yo get money in the process?"

  1. miss_chrissy_dawn says:
    you do not get extra money..you refinance to get lower payments but often end up paying for the loan longer.
  2. scoutsagirl says:
    No, you do not get money from refinancing and consolidating school loans, but you may save money by having a permanently lowered interest rate and lower monthly payments. It is also more convenient to have all student loans coming in on one bill at one interest rate. If you are looking in to refinancing and/or consolidation, I recommend Nelnet. They were easy to work with and their statements are easy to read. You can also pay your bill online.
  3. jjgerez says:
    You can refinance your student loans but only to get a better interest rate and or consolidate multiple loans into one loan. There is no equity so you can not pull money out. However if you are still in school, and are receiving loans, usually all of your loans are in deferment until six months after graduation, unless otherwise stated by your schools financial officer. If you have finished a degree, you can go back and enroll and complete 6 units or halftime and all of the loans that are defer-able will go back into deferment. Double check with your loan company. Also if you are married don’t consolidate or refinance with your spouses loans, because if anything bad should happen(God-Forbid It) but divorce, or even death you will still be responsible for your spouses loans. Hope this helps….If I can help you with more info just let me know. Take care

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