Borrowers can select the loans they would like to refinance or consolidate, So Fi pays them off, and then borrowers pay off a new loan issued from So Fi.
So Fi aims to help undergraduate and graduate borrowers lower their monthly payments and obtain lower interest rates.
It is free to apply and the process usually takes about 15 minutes. You may now have a general idea of how to refinance student loans and how to consolidate student loans, as well as the basics of what each lender offers, but there is much more information you should know before choosing a lender.
There are many different benefits and drawbacks of what each student loan consolidation and refinancing lender offers, and it is important to be aware of all of them.
Each lender has its own specific underwriting criteria, so you may have a higher chance of approval at certain lenders.
Read the detail lender reviews for more information regarding lender approval.
The more equity you have, the more money you may be able to get from a cash-out refinance.
The average credit card interest rate is around 15%.
Today, So Fi has expanded and now helps student debt borrowers to refinance student loans nationwide.
So Fi offers borrowers both refinancing and consolidation services.
Today, there are a number of new private consolidation companies looking to help borrowers improve their financial health.
Our favorite, So Fi, aka Social Finance, has quickly positioned itself as the top student debt refinance lender on the market.