A new study by MyBankTracker revealed that of 200 millennials surveyed with student debt, 30% would sell an organ if it meant they could get out of debt faster. An organ – typically considered important – this is what some people are willing to sell to get out of student debt faster.
While most will not take things to such extreme measures, it’s no secret that many millennials are putting off major life purchases and decisions because of student debt. The study also found that while people are seeking to get out of debt quickly, they are not looking for a way to skip out by defaulting. If you are sick of student debt, and want to stay healthy, consider refinancing as a way of getting out of pain faster. Refinancing offers many potential benefits including:
- Shortening your term
- Lowering your interest rate but keeping your payment the same so you are paying down the principal faster
- Lowering your monthly payment
- Consolidating all your loans into one easy monthly payment
- Discounts for advanced degrees
Contact us if you have questions about refinancing, or see what rate you qualify for with our rate calculator by answering 3 simple questions.