Refinancing? Sounds boring, honestly. True. It does. But here’s the reason why it might be super helpful for you and your student loans: Refinancing means swapping out your current student loan for a new one. Maybe one… With a lower interest rate With lower monthly payments That relieves your cosigner
When I first began making payments on my student loans in 2015, I owed about $55,000 at a 7.5% interest rate, and was paying $11 per day in interest alone. If your student loan accrues interest daily, and you don’t know the amount of interest you’re paying on your loan
If you have a student loan, there are 2 main things you need to know about it: 1. Principal Amount This is the amount you borrowed for your education, your car, your home, etc. This number will (hopefully!) be decreased by the payments you make on it and will
Hey! Welcome. I guess I’ll jump right in since this is the first post! I’m really just your typical college grad dealing with the pain of student loans and wishing I didn’t have any. I’m grateful for my education, but now I have $40,800 left to pay for it. My