This chapter explores the signs of being ready to refinance student loans, cautioning against it for those pursuing Public Service Loan Forgiveness. It stresses the importance of thorough lender research, co-signer implications, and various debt management strategies like quicker repayment through refinancing or utilizing forgiveness programs.
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Episode 2184:
The Finance Twins from TheFinanceTwins.com share the critical signs that indicate you're ready to refinance your student loans. By understanding the benefits, maintaining a solid credit score, and having a steady income, you can make informed decisions to manage your debt effectively.
Read along with the original article(s) here: https://thefinancetwins.com/7-signs-youre-ready-refinance-student-loans/
Quotes to ponder:
"You can adjust your payments to fit your lifestyle, whether you want to pay more now to get them over with or create a lower monthly payment so you can get by until you earn more."
"Lenders want to see that there’s a low risk you’ll be unable to pay and will default on your loans."
"It’s going to take a little bit of work to get the best deal."
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