Making Time for Your Student Loans

Published on Author Bethany Sims

Spring is an exciting time. New life is coming up from the ground, the weather is getting warmer, and hopefully your team is still in the running for March Madness. Sunshine and warmth can be the best motivation to do all those things you said you would do over the winter – like taking another look at your student loans.

Finances are top of mind this time of year, with taxes due and planning summer travel. Taking care of finances can sometimes feel like a task you will take care of “later”  – like switching cable providers or cleaning out from under the bed. Why not make “later” today?  Let us help you by breaking it down to three easy steps. Here is what you need to do to refinance your student loans with Purefy.

  1. Know your loans  – You probably know what you owe but do you know what you are paying in interest? If you have multiple loans, which most people do, the interest rates can vary. A general guideline is that if you have interest rates at or above 6%, you can most likely lower your rate by refinancing. Our fixed rates start at 3.50% and you can see exactly what you qualify for and your new monthly payment with our Find My Rate tool, which leads us to the next step.
  2. Find your rate – Before you apply you can see your new monthly payment, interest rates (not ranges), and your lifetime savings – before a credit check. It takes 30 seconds to find your rate on our rate calculator. Estimate your loan amount, interest rate, and term remaining for your current loans to get the most accurate estimate of what you can save with Purefy. Once you find your rate, see if you can save even more with a cosigner.
  3. Apply and save – The final step is to apply. You will need your loan information (lender, servicer, loan number, etc.) for the application and it only takes 15 minutes. We have a chat feature on our application and you can always call or text us if you have any questions. After applying, you’ll receive a credit decision in a few minutes, although sometimes we need to manually review applications, which can take up to 24 hours. Once you are pre-approved (congrats!) you need to upload your documents after approval. It’s easiest to gather all your documents and upload them at the same time.

So many things can seem to get a refresh this time of year – making student loans part of that can save you thousands in interest costs. If you have any questions, you’ll get your own personal student loan advisor from Purefy to help you through every step of the process – wouldn’t that be nice for those other spring time activities?

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