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Top Three Private Student Loan Refinancing Companies

Top Three Private Student Loan Refinancing Companies Finance

The cost of living is increasing with each passing day. This would also mean that the cost of the things we look for, which are absolutely important as education is also going out of hand and is becoming unaffordable with each passing day. That is where student loans come in and play an important role in helping us continue our education without any trouble. Nowadays, refinancing college loans have become extremely normal. Student loan refinancing is being found to be extremely helpful for a good portion of the population and there are multiple banks that offer student loan refinancing. However, before one jumps into that, it would be suggested to compare student loan refinancing plans and find the best lenders to refinance student loans. There should be a thorough analysis of whether student loan refinances is meant for you and making a list of 10 best student loan refinance can give you a better idea of the best companies for student loan refinancing. Here are some of the best student loan refinancing options seen in 2017:

  • SoFi: It provides a minimum lending amount of $5k with no maximum as such. There is an auto-pay interest rate reduction of 0.25% and the average savings would be $22 per month. An unemployment protection is also offered up to 12 months.
  • Earnest: This company provides a minimum lending amount of $5k with no maximum lending amount. Similar to SoFi, it also has an auto-pay interest rate reduction of 0.25% and the average savings would be $21,810. An unemployment protection is offered by this company too for a period of up to 12 months.
  • CommonBond: Similar to the last two companies, the minimum lending amount provided by this company is also $5k but the maximum lending amount is $500k. Just like the previous options, this company also has an auto pay interest rate reduction of 0.25% and the average savings that this company can provide would be $24,046. The unemployment protection provided is greater than the previous options and extends up to 24 months.
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