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Here’s Why You Should Speak to a Student Loan Advisor Before Refinancing

Adam Sisson
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Student loan refinancing can you help you save money on interest.

You’ve probably heard it before from a friend, colleague, or social media ad.

But how do you know if it’s a smart idea? Would you really qualify for a lower rate? Will it actually save you money?

That’s where a free student loan refinance consultation from Purefy can help — whether you don’t know where to start, want to learn more about lenders and rates, or simply have some questions about the process.

Find out how a Student Loan Advisor can provide indispensable support during your refinancing journey.

Why a student loan refinance consultation is important

Refinancing your student loans is a major decision.

There are great benefits to take advantage of with a student loan refinance — the most popular of which is getting a much lower rate to save big on interest costs.

But there are also some potential drawbacks that might make refinancing the wrong choice in certain situations. For example: after refinancing, you lose federal student loan benefits including Public Service Loan Forgiveness (PSLF). PSLF is typically a more favorable repayment option than refinancing — for those who qualify.

With lots of nuances that depend on your circumstances, deciding whether to refinance or not can be confusing. Is it the right option for you — or is there a better solution out there?

A consultation helps you discover if refinancing makes sense and explores your other repayment alternatives in-depth. All with a Student Loan Advisor who does this day in and day out.

The best part? Each consultation is completely personalized to you. Your Student Loan Advisor is dedicated to your success — providing specific recommendations and guidance based on your unique needs.

Oh yeah, and it’s totally free.

What you can learn from a Student Loan Advisor

Should you refinance your student loans?

Your personal and financial information will customize your consultation and refinancing recommendations. We’ll look at your credit health, education history, and employment background to understand you and your situation — and if a refinance makes sense in that picture.

What are the pros and cons of refinancing?

You’ll learn the positives and drawbacks of student loan refinancing — from saving money on interest and paying off your debt sooner to losing access to PSLF and income-driven repayment plans.

Using your financial goals, we’ll weigh the pros and cons to help determine a path forward.

Do you qualify?

Getting approved for a refinance is often the biggest question mark for those who are interested. There are stringent eligibility requirements for a refinance — especially to qualify for the lowest rates.

To get approved, you’ll need a high credit score and solid income. We’ll check with a variety of reputable, vetted lenders to check your eligibility and rate offers.

If you don’t qualify, don’t worry. We’ll walk you through steps you can take to improve your credit, as well as other solutions available to you like applying with a cosigner.

How much can you save?

After checking your refinance offers, we’ll compare your rates, terms, lenders, and more.

We’ll take care of calculating your monthly payments with your new interest rates and see how much you can save with different options.

What is the application process like?

With a dedicated Student Loan Advisor at your side, the application process is made easy.

We’ll walk you through the entire application process including what information you’ll need, how much time it takes, and what to expect from your new lender. And we’ll be there for you along the way to answer any questions or provide any guidance — from start to finish.

What you need for a refinance consultation

To get the most accurate advice possible, you’ll need some essential information on your current student loans handy:

  • Remaining balances
  • Interest rates
  • Remaining repayment terms
  • Monthly payment amounts

How to schedule your free refinance consultation

Our award-winning team of dedicated Student Loan Advisors is here to help — on your schedule.

NerdWallet even named Purefy the 2019 Best Refinance for Customer Service, so you know you’re in good hands.

Simply book your free consultation whenever works best for you and we’ll take care of the rest.

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