Credit unions entered the private student loan consolidation market in late 2010. cuStudentLoans, a network of over 130 credit unions offering one loan with common underwriting and pricing, launched its offering nationwide February of last year. This may be a saving grace for those students who need to refinance their existing student loans for better rates, lower payments, and shorter terms. […]
You gain a great deal when you refinance student loans if you do it right. The lender you choose to refinance your loans essentially buys all of your loans from the original lenders and reissues you a new loan, leaving you with one loan for the total amount of loans consolidated. This may result in a smaller monthly payment with a longer repayment schedule and, subsequently, a lower risk of default. But you have to start by knowing what you can do. The best way to start do that is to do a current financial assessment. […]