Benefit of consolidating student loans
One of the biggest downsides to student loan refinancing is that you may not qualify for it.
So Fi does look at your credit, but they stress emphasis on your career experience, financial history, education, and monthly income vs. Another downside is that it is possible for your rates to be higher than the estimated amount.
In fact, you will find that you can easily and quickly apply over the Internet with an approval in as little as 15 minutes.
So Fi allows you to consolidate both your private and federal student loans and the company helps members save roughly ,000 or so over the course of their loan.
If I have missed any companies please let me know and I will add them to this comparison post.In addition, So Fi also offers unemployment protection, which will come in handy when you lose your job.If your job is lost, So Fi will suspend your payments temporarily to help you get back on your feet and start earning an income once again.Nowadays, 7 out of 10 college graduates have student debt and the average has over ,000!If you took out a loan to pay for college, you are probably paying too much, and could potentially save thousands through refinancing!