Why are student loans a pain in the a**? The reason we found is that the government issue student loans to college students without issuing an interest rate based on their credit score. Instead, loans are issued at one standard interest rate, which is given to each and every student. The government also does not offer refinancing options. Unfortunately, this tactic hurt the students in the long run. Once students graduate and they enter their 20s, 30s and 40s, the interest rates increase and the loan amount skyrockets. This makes it extremely difficult for the loan to be paid off. Thankfully, there are private institutions available that will refinance student loans. One company, Purefy, has a quick and easy application process, which will lower monthly loan payments. They even have customized repayment terms (i.e. 5-year, 8,-year, and 12-year terms) with lower rates. The 6-step process starts with Applying Online on their site, www.purefy.com. Next, borrowers can Choose A Loan Option, Submit Loan Documents, Review Disclosure, E-Sign, and then, receive the Loan Disbursement(s). Borrowers must have on hand a valid drivers license, pay stub or tax return, transcript to verify degree, and payoff statement from current loan servicer. To be eligible for refinancing your loan, you must met the following qualifications: must be a U.S. citizen at least 23-years old strong credit history one outstanding education loan minimum of 2 years of employment annual income of $42,000 (or $25,000 with co-signer) For more information, visit www.purefy.com.
