Interest rates are accurate as of May 2022 and subject to change.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
But it comes with both benefits and drawbacks, so weigh both before turning over your loans.
You could save hundreds or thousands of dollars in the long run.
You could also try refinancing if youre having trouble repaying private loans.
see to it you dont accept a loan offer that eats up those savings in unexpected fees!
They remain responsible for the loans until theyre paid off.
If your loan didnt come with a cosigner release option, you could release them by refinancing, instead.
Refinancing pays off the old loan, so the cosigner will no longer be responsible for the debt.
Refinancing usually is NOT worth it if you have federal loans that could qualify for forgiveness or cancellation.
In other cases, student loan refinancing should get you a lower interest rate than your existing loans.
The savings that comes with lower interest is the main benefit of refinancing.
Refinancing student loans shouldnt hurt your credit as long as you repay on time.
When you log into your bank account, how do your savings look?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
