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re: Fun with student loan refinancing
Posted on 4/5/17 at 5:52 pm to LSUSUPERSTAR
Posted on 4/5/17 at 5:52 pm to LSUSUPERSTAR
quote:
Each time you satisfy a bill due, we will automatically advance your next payment due date and your billing statement will indicate a payment is not required for that bill. You may still continue to make payments to decrease your total interest cost and pay your loan off sooner.
My experience with Great Lakes was similar--had a 20 year but I wanted to pay it over 10, they told me they didn't have the option to do that.
Created my own payoff schedule in excel, calculated the 10-year payoff, and found out about a little setting I could do in the online portal to deselect "advance due date" on the excess over their calculated monthly payment and voila--10 year payoff.
I haven't looked at all into re-financing with a private lender. Good credit here, never missed a payment, etc.--anyone know if it's worth it in the current marketplace? Paying ~6% rate right now with 7-ish years left
This post was edited on 4/5/17 at 5:54 pm
1
Posted on 4/5/17 at 6:38 pm to LSUSPARKY621
Their lowest advertised rate would be 3.375. If you could get that, it would be a nice savings from approx 6 and to me would be worth it
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