One of the questions that is often asked is should you give up your life goals and repay your student loans ? Here’s a question that was asked on Fox Business News, and Nerd Wallet recently:
Q: I want to get married, buy a house and hit other adult milestones in my 20s and 30s, but my student loan debt is holding me back. Should I put off other goals while I repay my student loans?
A: Feeling stymied by student loans is becoming a defining part of being a 20- or 30-something. The numbers are stacked against us: College is more expensive, we’re taking on more debt to afford it, and it’s harder for us to repay the money we borrow.
Through student loan refinancing, borrowers can refinance high-interest student loan debt and potentially score a lower rate, saving thousands of dollars in interest over time. Those savings can then go toward extra payments to get out of debt even faster. Additionally, borrowers can select a longer term to obtain a lower monthly payment as well.