6 ways refinancing your student loans could save you cash

Read on for a list of the benefits that may come your way when you refinance your student loans.

[{"selector":"#anim-af273701-cc20-4bd3-a290-fd3408ea67cd","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c033a379-1569-4ba9-88e9-c3a6ee5ad4e3","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more

Refinancing may lower your monthly payments because you may lower your interest rate.

[{"selector":"#anim-4cbc3f59-b5d1-4dd9-9cbb-ee8369bbfd6a","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-72a18db3-fa16-4818-b3e5-da060bc42d05","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more

Reducing your interest rate may mean that you’ll save money over the life of your loan.

[{"selector":"#anim-447ce661-702a-470c-897b-fa1155dc703a","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-355fcbd3-2b8c-4e0c-8ec2-11bafaec1eea","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Medium Brush Stroke Learn more

Shorter Repayment Terms

[{"selector":"#anim-2563df35-d534-4fab-b69f-655ffc9b1f16","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-09ddcf58-ea6b-4953-adf1-b97278973285","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more

Qualifying for a lower interest rate and either shortening your repayment term or keeping your current loan term may allow you to save money.

[{"selector":"#anim-88f1d4b8-02dd-4cbf-bc10-f972be3e6a41","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-aad2fb86-c10f-4820-aa82-8549b6cc27c4","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Medium Brush Stroke Learn more

SWIPE UP NOW TO READ MORE!

[{"selector":"#anim-f0ce8035-d443-45ac-8beb-9a460c06eefa","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-84bae574-78a0-46f4-8627-e47b38b4d540","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Learn more

Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

[{"selector":"#anim-1aeb6bf6-409d-4b2b-a127-64329d621b0c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3c0772c5-39f5-49a2-9512-4ddc72e9be48","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b65eb264-6949-4cab-b855-145e498ac74b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-03e94b1c-58ec-445c-bdad-6074556165c0","keyframes":{"transform":["translate3d(0px, 99.16371%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] 5 best places to shop for smart devices Travel hacks: 6 ways to save on Airbnb

6 ways refinancing your student loans could save you cash

Read on for a list of the benefits that may come your way when you refinance your student loans.

Refinancing may lower your monthly payments because you may lower your interest rate.

Lower Monthly Payments

Reducing your interest rate may mean that you’ll save money over the life of your loan.

Reduced Interest Rates

Shorter Repayment Terms

A shorter repayment term may save you money because you’ll pay interest over a fewer number of years.

Qualifying for a lower interest rate and either shortening your repayment term or keeping your current loan term may allow you to save money.

Opportunity to Save Extra Money

SWIPE UP NOW TO READ MORE!

Finding a financial advisor doesn’t have to be hard. SmartAsset’s free quiz matches you with fiduciary financial advisors in your area or who serve your area. If you are ready to be matched with financial advisors that can help you achieve your financial goals, take the quiz now.

READ MORE