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Student Loan Refinance

Started by akapasi, August 25, 2016, 01:17:04 pm

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akapasi

Hi

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?

TheCollegeInvestor

August 25, 2016, 04:04:34 pm #1 Last Edit: March 15, 2019, 12:26:08 pm by TheCollegeInvestor
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: https://thecollegeinvestor.com/17113/refinance-federal-loans-private-loans/

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: http://go.thecollegeinvestor.com/credible-tci

akapasi

Thank you so much for the information. I have 1 more question. Can I refinance combining mine and my husband's students loans?

TheCollegeInvestor

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.