Can you refinance student loans while in school?

+1 vote
asked Mar 11, 2018 in Financial Aid by sharp tack (400 points)
Can you refinance student loans while in school?

can Student Loans be refinanced while you're still in school or do you have to wait until you complete school before refinancing a student loan?

1 Answer

0 votes
answered Mar 12, 2018 by Lilly21 (57,780 points)
Unfortunately you cannot refinance a student loan while still in school because when you refinance a student loan you're basically taking out an entire new student loan with different terms and conditions and interest rates as well as payment terms.

The lender will want to know exactly how you're gonna be able to pay back the student loan when you go into refinance it and it's gonna be hard to convince the lender that you'll be able to pay back the loan when you go to refinance.

So you have to wait until you graduate college or leave college to refinance the student loan and hopefully by then you'll have a good job that will allow you to keep up with the student loan payments.

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