Top 3 Companies Offering Private Student Loan Refinancing
Explore the top three private student loan refinancing companies, including SoFi, Earnest, and CommonBond. Learn about their loan options, benefits, and protections to help you make an informed financial decision. Find the best refinancing plan to lower your monthly payments and secure better interest rates, ensuring a smoother educational journey and financial stability.
Leading Private Student Loan Refinancing Providers
As living expenses continue to rise, the cost of education is becoming increasingly difficult to manage. Student loans have become essential for many students to afford their studies. Refinancing student loans has gained popularity as a smart financial move. Numerous banks and lenders now offer student loan refinancing options. Before choosing a refinancing plan, it’s important to compare different lenders to find the most suitable one for your needs. This article highlights three top private student loan refinancing companies in 2017, helping you make an informed decision.
- SoFi: Offers loans starting at $5,000 with no cap. Benefits include a 0.25% interest rate reduction for automatic payments and average monthly savings of around $22. It also provides unemployment protection for up to 12 months.
- Earnest: Similar to SoFi, this lender provides customizable loans with a minimum of $5,000 and no maximum limit. An auto-pay discount of 0.25% is available, with average savings of $21,810, and unemployment protection for up to 12 months.
- CommonBond: Lending amounts start at $5,000, with a maximum of $500,000. The auto-pay interest reduction of 0.25% applies here as well, with potential savings of $24,046. It extends unemployment protection up to 24 months, offering greater security.
