Are you looking to create a better student loan repayment situation for yourself by refinancing a student loan or consolidating multiple student loans?
Refinancing student loans into a new loan to lower monthly payments and/or lower interest rates may be the right fit for some. For others, consolidating their various student loans from potentially multiple lenders can create a convenient single monthly payment.
Private education refinance/consolidation loans offered by banks or credit unions allow borrowers to combine their outstanding private and/or federal student loans into a single new loan. The interest rate on a refinance or consolidation loan is based on credit criteria set by the lender, which can include credit scores, debt-to-income ratio and annual income level of a borrower and, if applicable, co-borrower.
Learn more about borrowing smarter:
- Informational Videos
- Worksheet to track existing loan
- Refinancing Example
These local Maine Lenders offer loans with variable interest rates to help refinance or consolidate student debt.