Consolidating school loans rates

Consolidating student loans does not affect the amount of interest you pay—it just simplifies your payments.Refinancing student loans, on the other hand, is a step beyond consolidation.

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A big part of being financially responsible is organization. I can make an extra payment through that very easily.When you refinance multiple loans, the lender will evaluate your current financial profile to provide a rate that reflects your financial progress since you originally took out the loans. I had tried on numerous attempts to refinance my student loans and every time there was some excuse by the loan company regarding credit history, or amount to refi, or that I hadn't completed my degree.Whereas consolidation just streamlines bills, refinancing also shrinks them. I had never had the opportunity to explain myself, not that I need to because my life fell the way it did for a reason, but always thought having that option may help.You also get to choose your monthly payments and let's you know how much you'll be paying in interest with the amount you've chosen.I would definitely recommend to people I applied for school loan refinancing with Earnest and got the best interest rate possible, because they didn't just look at one thing in order to determine it.

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