Can I refinance my student loans?

Can you refinance federal student loansfederal student loansStudent loans in the United States are a form of financial aid intended to help students access higher education. In 2018, 70 percent of higher education graduates had used loans to cover some or all of their expenses.

Is student loan refinancing worth it?

You can potentially save tens of thousands of dollars throughout the life of your loan by refinancing. There are three main benefits to refinancing student loans: You can get a lower monthly payment, freeing up cash for other expenses. You can pay off your loan faster, saving you money in interest.

How much money do I need to make to refinance my student loans?

Do I make enough to refinance? Some lenders have minimum income requirements if you want to refinance your student loans with them. Although it varies by lender, the minimum income is typically $24,000 or more (this also depends on whether you have a qualifying cosigner or not).

Can I refinance student loans with 650 credit score?

Private lenders check your credit score when you apply for refinancing, and many require you to have a credit score of at least 650 to qualify.