About 44 million Americans currently have a student loan debt. So if you're one of them, you're definitely not alone.
But to be honest, your student lenders could upset you with too high interest rates – just getting rich while floundering in debt. Year after year.
But there are other, nicer companies that can help you get out of debt faster. A website called credible knows the best and could bring you together tomorrow.
Here's how it works: With Credible, you get a loan that covers your student loan fund. Use this loan to repay your federal and / or private loans. Now you have a new monthly payment. This process is called refinancing.
At first, it may sound like you are just shifting your debts, but the key is to find a loan with better interest rates or lower monthly payments.
In fact, we spoke to Ashley Williams, a financial analyst who has a $ 46,000 debt. Through refinancing, she has saved more than $ 18,000 in interest over the life of her loan. Now she is debt free at least five years earlier.
If you're not sure where to start, we like Credible because it's an easy way to compare your options, and does not make you stand in line or call a bank. And if you're worried that you will not qualify, it's free check online, It only takes two minutes and you could save thousands of dollars.
It's definitely worth it.
Carson Kohler ([email protected]) is a staff member at The Penny Hoarder.
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