Student loans are a double-edged sword. On the one hand, they may have made college possible. On the other, it may feel like you’ll never get them paid off. The truth is, you can get out from under them and refinancing them into a new loan with lower rates may be the answer. We’re INvestEd, an Indiana not-for-profit that has been helping Hoosier families access and fund education for over 35 years. Now we’re helping new families refinance existing high-interest private and federal loans to better manage their educational loan debt. There are three key questions to ask to find out if refinancing makes sense for you:
Can I get a lower interest rate on my current loans?
Can I reduce the overall amount I have to repay?
Can I lower my monthly payment?