Student Loan Hacks

Posted by Tom Jackson on November 18th, 2017

Student Loan Hacks

Everyone wants to know about student loan hacks.

Student loan hacks help you save money on your student loan, and they are popular to get an edge to save money more quickly.

Here are popular student loan hacks to save money on your student loans.

Student Loan Hacks #1: Student Loan Refinancing

The first of the student loan hacks that you be aware of is student loan refinancing.

Student loan refinancing is a perfect example of the best student loan hacks because it saves you money on your student loans.

Student loan refinancing is the process of combining existing student loans – both federal and private – into a new student loan. This new student loan has a lower interest rate than your existing student loans, and therefore you can save more money.

Of all the student loan hacks, this is my favorite because it saves the most money. With most private lenders, you can save over ,000 on your student loans.

Student Loan Hacks #2: Student Loan Consolidation

The second of the student loan hacks is student loan consolidation. This is another of the great student loan hacks because it’s a helpful organizational tool.

While it doesn’t enable you to lower your interest rate like student loan refinancing does, it does help you combine all your existing federal student loans into one student loan.

The interest rate for this student loan consolidation is a weighted average of your federal loan interest rates.

Another benefit of this second of the student loan hacks is that you have one student loan servicer and one monthly payment.

Student Loan Hacks #3: Autopayment

It sounds basic, but this third of the student loan hacks is very important.

The reason this is third of the student loan hacks is so essential because it saves you 0.25% off your interest rate with most lenders.

Like the first of the student loan hacks, student loan refinancing with a private lenders helps you save 0.25% off your interest rate.

Student Loan Hacks #4: Student Loans Calculators

The fourth of the student loan hacks is to use a student loan calculator.

This is also one of the most helpful student loan hacks because student loan calculators help you save money quickly because you can compute your interest savings at a click of a button.

Student Loan Hacks: Conclusion

These four student loan hacks can help you navigate student loan repayment, and save money.