Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans.
And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options. With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.
We’ve got you covered with our Student Loan Smarts blog series.
Our expert tips and hacks will help you save money, pay off loans sooner and stress less about student loan debt.
Your financial history — including your credit score, income, job history and educational background — will dictate your new interest rate when you refinance.
You typically need a credit score at least in the mid-600s to qualify, and rates range from around 2% to more than 9%.
As part of the process, you’ll need to provide details about your existing federal student loans, and choose a federal loan servicer and repayment plan for your new consolidation loan.