Скачать или смотреть Don't Make These MISTAKES When Refinancing Student Loans: Best Way to Refinance Your Student Loans

Should you refinance your student loans? Learn the pros and cons! And follow on Tik Tok and Instagram @clobaremoneycoach.

Now that student loan forgiveness is not included in Biden’s new budget (boooo!) AND student loan forbearance has been extended into 2022, should you look at refinancing your student loans?

I wish I could give one blanket answer-- but the truth is? It depends. There are pros and cons to each option-- especially if you have federal student loans.

Here are a few pros and cons of refinancing your student loans:

Pro: You may get a lower interest rate on your loans. One of my clients this week refinanced and it took her loans from almost 12% to 4.68%! That’s an insane amount of savings and will ultimately help her get out of that debt quicker.

Pro: You can remove old consignors so no one else is liable for your debt but you. This is something to think about if your parents cosigned for your loans and now, ten years later, they’re still on the hook because you’ve never refinanced. For example, my dad was on the hook for ALL FIVE OF HIS CHILDREN’S student loans, until we all refinanced. His credit score went up after we refinanced because he’s not burdened with all these different cosigned loans.

Pro: You simplify your finances. Instead of making several different payments a month-- you can just make one.

Con: You will no longer qualify for federal forbearance or loan forgiveness. This is a big con if you qualify for loan forgiveness or you need the protection of federal forbearance when things get rough.

Con: You do need good or excellent credit to get a good interest rate. If not, you’ll need a cosigner.

Lots to think about!

And if you’re in the market for a tool that helps you refinance, I love Juno. It’s a company that provides a free service for folks looking to refinance. They basically negotiate your student loans for you and use group buying power to get the lowest interest rates possible. If you want to check them out, here's an affiliate link to get you started: https://joinjuno.com/p/clobare?grow=c...

Here’s how it works:

1) You sign up on their website.
This is where you’ll join the Juno loan negotiation group, for free. You’ll send in some of your information, like your contact, education and financial information, as well as estimated credit score, annual income, co-signer status and estimated amount of loans needed.

2) Let the competition begin.
The Juno team gets to work to get you the lowest interest rate possible. You can sit back and relax as they go to lenders and negotiate lower rates, lenders submit bids, and Juno selects the single winning lender.


3) You receive a negotiated deal for a lower interest rate.
Juno will inform you about your negotiated deal via email and share a link where you can take advantage of it. They’ll provide you with a calculator to help you determine which loan is best for you, and they’ll be fully transparent about the negotiated deal and any federal loan options.

Best part?

You’re under no obligation to take the deal. You’re able to take or leave it, no pressure. If you do take it, you’ll complete the loan application process directly through the lender. Juno will then make sure that the lender is following through, and you’re receiving a great experience from the lender.

_______________
_______________

Get Your FREE Money Guide:
https://www.thelazyinvestorscourse.co...


Register for a FREE investing class!
https://www.thelazyinvestorscourse.co...

The Lazy Investor's Course:
thelazyinvestorscourse.com


Enjoy! To support this small channel, please like and subscribe.

Links to other goodies:

How to Start Investing as a Beginner: Part 1:    • How to Start Investing for Beginners: Step...  

How to Start Investing for a Beginner Part 2:    • INVESTING FOR BEGINNERS: Picking a Brokera...  

Clo Bare's Social Media:
Instagram: (@clo_bare)   / clobaremoneycoach  
TikTok:   / clobare​moneycoach  


#millennialmoney​
#budgeting​
#financialindependence​
#financialfreedom​
#personalfinance​
#financialindependenceretireearly​
#retirement​
#savemoremoney​
#budgetingtips​
#personalfinanceforwomen