If you borrowed to pay for college, it is important to remember that student loans have to be repaid. Refinancing is one option to consider as you begin repayment.
Refi loans combine all your private student loans and possibly federal student loans into one loan and one payment with an interest rate based on your current situation. This option may reduce the amount you pay and/or provide a more manageable monthly payment amount.
Please Note: If you combine federal loans with private loans, make sure you clearly understand any impact to losing federal loan repayment benefits.
Refinance option for Indiana residents
INvestEd works with Indiana families to help them make responsible decisions in the refinancing process and offers refinancing options designed specifically for Indiana residents or students that attended an Indiana College.
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Important information as you consider refinancing
- Identify all your current loans (lender, servicer, type of loan, type of interest rate, borrower benefits, repayment options, etc.)
- Understand that you may need a cosigner to refinance your loans
- Refinancing is not always the best solution, so review the possible rates and overall costs to determine if this is the right choice for you.