Whenever is the best time and energy to re-finance your own student loans?

Whenever is the best time and energy to re-finance your own student loans?

  • Your own loans are almost paid off. Applying for a private student loan refinance generally triggers a hard credit pull, which can temporarily lower your credit scores by a few points. Many private lenders also charge origination fees for processing the new loan, which are deducted from your new loan amount. If you’re close to paying off your student loans, refinancing likely won’t save you all that much in interest, and any savings probably won’t be worth paying a fee or adding a hard pull to your credit report.

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