The Student Loan Debt Forum | The College Investor

Student Loans => Private Student Loans => : akapasi 25, 2016, 01:17:04

: Student Loan Refinance
: akapasi 25, 2016, 01:17:04

I currently have about $60K in student loans and I studied at University of Phoenix. I am paying about $650/month at 6.8%. How can I lower this monthly payment at a lower rate? I have been going to different student loan refinance sites and none of them seem to  have UOP as a school so I can't even check for eligibility.

I even engaged with someone to look at student loan forgiveness but both my husband and I make a decent living so we are not qualifying.

I just want to lower my monthly payments at a lower rate.

Any suggestions?
: Re: Student Loan Refinance
: TheCollegeInvestor 25, 2016, 04:04:34
First, when you have a loan at 6.8% and you talk about forgiveness, I'm always concerned you have a Federal loan and not a private loan (even though you posted in the private student loan forum).

If you have a Federal loan, read this on when it makes sense to refinance:

If you have a private loan, check out Credible. We recommend them for refinancing, and they have University of Phoenix as an option. They compare multiple lenders to find the best rate. You can try it here:
: Re: Student Loan Refinance
: akapasi 29, 2016, 01:49:30
Thank you so much for the information. I have 1 more question. Can I refinance combining mine and my husband's students loans?
: Re: Student Loan Refinance
: TheCollegeInvestor 30, 2016, 07:05:47
No, and you shouldn't want to do that either because each debt is solely in that persons name. Not to say you'd divorce or anything, but you can't predict 5-10 years away what might happen.