Refinance Student Loans from Brescia University

Depending on the current amount of student loan debt that you have, you may be eligible to save tens of thousands of dollars in interest over the life of your loan. With that being said, here are the three main benefits to refinancing your student loans:

Lowering your monthly payment, which can help you free up additional income for other expenses.
The ability to pay off your student loans faster, but saying that extra money you would be paying towards interest.
Lowering your monthly payment would also help to decrease your debt-to-income ratio, in turn making it easier for you to qualify for things like a mortgage or car loan.

Use our calculator above to see how much you may be able to save towards refinancing your student loans. You can compare multiple lenders at one time all competing for your business and offering interest rates far below what the government currently offers.

When looking to see if you qualify for student loan refinancing, there are a few areas within your finances that you will need to look into in order to see if you qualify. With that being said, here are a few areas to look into for student loan refinancing eligibility.

Personal

‣ You are a US citizen, possess a 10-year (non-conditional) Permanent Resident Card or visa holder ((H1-B, J-1, L-1, E-2 or E-3)

‣ You are at least 18 years old

‣ You must be employed, have sufficient income from other sources, or have an offer of employment to start within the next 90 days

State Eligibility

Most of our lenders offer to refinance loans in 49 states plus the District of Columbia. Residents of Nevada are not eligible for a refinance loan at this time. Check with the desired lender to see if your state is on their eligibility list.

Loan

‣ You have a minimum credit score of 650 or higher for some lenders. (This does not include co-signers) check with your lender for current requirements.

‣ Your student loan accounts are all in good standing with your student loan servicer

‣ You are current on mortgage or rent payments

‣ The debt must be from a Title IV-accredited school

‣ All debt is coming from your education specifically

‣ You are not requesting new loans for future schooling (See Student Loans)

‣ You do not have a bankruptcy on your credit report or accounts recently in collection

‣ You are looking to refinancing a minimum of $5000 (maybe higher in specific states due to legal requirements)

Factors for Approval

‣ You have a history of making all payments on time

‣ You do not regularly have charges on your account for late fees, overdraft, or other accounting fees

‣ You do not carry large amounts of debt outside of student loans, mortgage, car loan, etc (e.g. Personal Loans, Credit Cards)

‣ You spend less than you earn

‣ Your account balances are going up due to your spending habits

‣ You have enough savings to cover at least two months of normal expenses, this would include housing

This is a great question and one you really need to look into prior to going through the process of refinancing your student loans. If you have a low debt to income ratio, a history of on-time payments, a strong credit score above 650 in most cases (or the ability to use a cosigner to help you get a lower rate), you are in a good position to qualify for student loan refinancing. If you do not meet the above general criteria, you can still apply, but you may be in a position where you get a higher interest rate or do not get approved at all. Take a look at our eligibility page to see the general guidelines in an effort to help you get approved. You can apply for student loan refinancing at any point in time throughout the year. Check out our student loan refinance page to learn more about our lending partners, current rates, and auto-pay discounts.