How to Refinance Student Loans

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Refinancing student loans right after graduation is an important step to getting a better interest rate, and consolidation can usually only be done once. Refinance student loans for a better rate with helpful information from a financial aid officer of a university in this free video on education.

Part of the Video Series: Federal Financial Aid
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Video Transcript

Hi my name is Brooke Kramer and I am the financial aid officer with Argosy University in Salt Lake City and today we're going to talk about how to refinance your student loans. And the first thing you're going to want to do is usually wait till after you graduate or stop attending school before you try to refinance your student loans. The reasons being is because you can only consolidate your student loans once and once you do that, you're pretty much going to be stuck with that interest rate, that repayment period. So second thing you're going to want to do is check out what types of interest payments are available at the time and what types of options you have available to you. You're going to want to talk to your lending institute to see what types of repayment options they have, what types of consolidations that they have and work between the two of you to see what works out the best for you for your monthly payments and also for your long term goals. As soon as you consolidate your loans, you'll be starting to make your payments so make sure that you know what you're getting yourself into. If you have additional questions regarding Pell grant, you can visit our website at www.argosy.edu.

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