What Refinancing Student Loans Means to our Borrowers

Published on Author Bethany Sims

This month, we are launching our borrower spotlight series. Each of the borrowers highlighted in this series had a unique experience refinancing their student loans with Purefy. Our first borrower, Christine Houchens, saved over $65,000 in lifetime interest cost when she refinanced her Sallie Mae loan. Read on to learn more about her refinancing experience.

1. Why did you decide to refinance your student loans?

To save money and time. I had been looking for quite some time for a way to refinance and was disappointed that none of my banks, credit cards, or even my credit union could offer an option to refinance with an appealing interest rate or terms. There were no options for my situation, until Purefy.

2. We are thrilled you chose Purefy; how did you find us and what influenced your decision?

Richmond Bizsense posted the article to Facebook; I liked that {Purefy} was created for typical working adults with high balance student loans. I used the calculator on the website to match my specific situation and to find my rate with Purefy, and it was a huge amount of money to be saved. I did have a lot of questions so I started emailing and calling. It’s a huge deal when you are talking about high dollar loans, so I wanted to make sure I understood the program and that it wasn’t too good to be true.
3. How would you describe the application and approval process?< It was really easy since everything is done online and the application itself took minutes. I really liked how everything was electronic; I didn’t have to mail or even email anything. I just uploaded the required documents. 4. Has refinancing your student loans changed your financial behavior at all?
It hasn’t really changed as I’m naturally a bit “overly responsible” with my finances. I always do a lot of research, thinking and planning.
5. How likely are you to recommend Purefy?
Extremely- I have already suggested it to a couple of people, put it on my Facebook page and even provided flyers at my work. I tell people about my own situation, how much I owed and what a huge difference it has made.
6. Is there anything else you would like to add?
I’m really glad there is this program; there haven’t been any other options for those in similar situations as mine. I’m surprised it took so long for someone to come up with this. My old term was 25 years for just under $60,000 in loans with Sallie Mae that would have totaled more than double that- and now I have an 8 year term which will save me around $65K – $70K in interest costs.

If you have a story to share on refinancing your student loans, we want to hear from you. Contact us to share your story.

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