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GradFin Student Loan Platform
GradFin Student Loan Interest Rates and Terms
Frequently Asked Questions / Learn More
what can i expect to learn in the one-on-one consultation
Our GradFin reps will discuss what information impacts the interest rate and how you can best be in the position to get the lowest rate from one of our lenders. Every person has a different FICO score, income level, student loan balance, and current interest rate structure, and we walk you through the ways in which you can get the best new rates on your loans.
Our GradFin Rep will break down your loan situation, provide a chart on what your new loan payoff looks like, answer questions about what terms are the best for your particular situation, and answer any application questions that come up.
when can i set up a conversation with a gradfin rep?
We have over 400 time slots each day that you can choose from, including weekends. We are very conscience of your time and want you to choose what time best works for you. With that said, we have allotted 20 minute time slots which is enough time for our GradFin rep to discuss with you the various refi options that are available.
what if my parents or spouse has student loans?
We would love to set up a consultation with your parents, spouse, friends, family members, or anyone else. In fact, many parents take out student loans for their children called Parent Plus Loans. These loans usually have higher interest rates. Please reach out to your GradFin rep to set up a consultation.
what refinancing terms are available?
Our lenders offer various terms from 5 to 20 years as well as fixed and variable. Depending on your personal cash flow and monthly budget, you have some options to make your future payments work for you.
what are the benefits of gradfin's multi-lender platform
GradFin's multi-lender platform will give you the best opportunity to get the lowest rate possible. We are well positioned to find you the best rate because we understand the underwriting standards of our lenders.
should i track down my loan information before the call?
Yes. We want to make the best use of your time, so we recommend that you send your current interest rate and account balance to the GradFin Rep before the one-on-one consultation. This will allow us to chart out some options for you before we speak to you on the phone or in person.
what is the minimum loan amount that can be refinanced?
what is the maximum loan balances that can be refinanced?
Most of our lenders do not cap the amount to be refinanced. However, if the balance is higher than $150,000 many lenders will look at the borrowers debt-to-income ratio to determine if they are a good fit for a new loan.
how is my new interest rate determined?
Interest rates are determined in many ways: 1) rates set by lenders to compete for your business; 2) the federal funds rate and the LIBOR rate; 3) your FICO score; 4) your debt-to-income ratio and/or current household income; and 5) the term of the loan that you choose (i.e. fixed, variable, 5, 7, 10, 15, 20.)
can i only refinance a portion of my loans?
In most cases, you can selectively refinance individual loans. If you have an opportunity to lower your rate & match your term, it is worth exploring the savings.
I'm almost paying off my loans, why should i refinance now?
Our partners offer short term loans as short as 5-years. It makes sense to refinance into the shortest term to get the lowest rate available. Saving you money is our goal.
where is the refi and consolidation application?
The GradFin rep will send each employee an application to refinance their loan after discussing their needs. Each of our lenders has different underwriting criteria and we want to match borrowers with the lender that will be able to give them the best refinancing options.
will you discuss loan options with my children?
Yes. We will not only discuss your parent plus loans but also provide options for your kids to refinance their loans.
can i take my parent off the loan as a cosigner?
Yes. GradFin now offers products for the kids to refinance their parent loans under their own name.
can you consolidate federal and private loans into one loan?
Yes. We can refinance federal and private loans into one loan.