Student loan refinancing can help you get a better interest rate, or change the length or terms of your loan. When you refinance, you’re trading your old loan for a new one. The old loan is paid off and a new one is created to take its place. You may be able to consolidate, or combine, multiple old loans into a single new loan when you refinance. Granite Edvance offers student loan refinancing for both private and federal student loans through our EdvestinU program.
Is refinancing right for me?
Refinancing might be a good option if you’re looking to:
- Lower your monthly payment: This is the most common reason why people refinance. You may be able to lower your monthly payment by qualifying for a lower interest rate, and/or extending your repayment term. Extending your repayment term increases your total loan cost, since you’ll be paying interest on a greater number of monthly payments.
- Remove a cosigner: Refinancing is one way to do this.
- Consolidate multiple loans: Refinancing into a single new loan can help streamline your monthly payments.
Visit https://edvestinu.com/student-loan-refinancing/ to learn more!
Financial Aid Professionals
Attention, financial aid professionals! We have a dedicated loan counseling team ready to work with you. They’ll answer all your loan product questions, and help with loan origination, certification, disbursements, loan changes, and more. Check out our Financial Aid Professionals page.