Refinance Student Loans Sofi ✅

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Sofi was always told that if she went to college she would be able to pay her loans off faster. She did everything right, applied early, never missed a payment and even paid several thousand dollars over the last two years. When she graduated she still owed over $30,000. She had no choice but to take out private student loans, which were difficult to afford. After graduation, she had trouble finding a job, so her parents helped her out by taking out a second mortgage. Even after getting a job working 50 hours a week, she couldn’t make any payments.

She is now facing bankruptcy and she doesn’t know what to do. We have some great options for people who need to refinance their student loan debt, including both fixed-rate and adjustable-rate refinancing.

Refinance Student Loans Sofi

What Is Refinancing Your Loan?

A refinance loan is simply the refinancing of your student loans. If you have private student loans, they were probably issued before July 1st 2009, and therefore you could not get any type of federal student loan. However, if your private student loan was issued after July 1st, 2009, then you may be able to refinance them, and lower your monthly payments!

How Do I Get Started?

If you want to start looking at refinancing your student loans, you should first make sure that you qualify. Because if you do not meet the requirements of the program, you will not be eligible to refinance. Next, you will need to check out whether or not it is possible to refinance your loans. As long as your current interest rate is under 6%, then you may be able tp refinance.

When Will My Payments Be Lower?

You will save money when you refinance your loans, but how much will actually be saved depends on many factors. Your original amount borrowed, the length of time you have had your loans, your credit score, and even what kind of repayment plan you currently have will influence how much money you can expect to save.

Where Can I Find More Information About Refinancing Student Loans?

You will find everything from details about the program, helpful tips, and answers to questions you might have about the process.

Refinance Student Loans Sofi

Sofi’s family was struggling financially and she wanted to go back to college. Her parents were concerned about her taking out student loans again, but they did not have enough money to pay for tuition at two colleges without going into debt. She decided that if her parents could refinance their home (their house equity) to use the extra cash to pay for school, then she would get financial aid to cover the rest.

Her parents contacted a company called Refi-StudentLoans.com who specializes in refinancing student loans. They had a special offer for students who qualified. If they took out a loan with them, and paid off their existing student loans, they would eliminate $20,000 dollars in interest payments! That is almost half of what they were paying each month before.

They got a letter from Refi-StudentLoansas.com stating that Sofi met the minimum requirements and that they were able to do the financing. She applied online for the best rate offered by the company and she was approved over the phone. Before long, Sofi’s loan payment went down by $200 per month. Her monthly payment dropped from $600 to $400. This allowed her to save $100 in interest per month.

Not only that, but now her parents didn’t have to worry about being able to pay for her tuition either. They felt relieved knowing that they wouldn’t have to default on any of their bills anymore. After six months, the debt had been completely paid off. As their daughter worked towards finishing school, they were happy knowing that they always had the option of refinancing should the need arise, which it didn’t.

Sofi graduated with honors and will soon start working on her master’s degree. Her parents are proud of how responsible she has become and how much she deserves all of this. All she did was take care of business and keep her priorities straight.