Nerdwallet Refinance Student Loan
Nerdwallet Refinance Student Loan
NerdWallet’s ratings for personal loans award points to lenders that offer consumer-friendly features, including soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider the number of complaints filed with agencies like the Consumer Financial Protection Bureau. This evaluation is a comprehensive assessment of the qualities that lenders are most important to borrowers, which include consideration of rates and fees, quality of online tools and loan availability.
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from partners. Here’s how we make money.
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from our partners. Here’s how we make money.
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from our partners. Here’s how we make money.
NerdWallet’s ratings for personal loans award points to lenders that offer consumer-friendly features, including soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider the number of complaints filed with agencies like the Consumer Financial Protection Bureau. This evaluation is a comprehensive assessment of the qualities that lenders are most important to borrowers, which include consideration of rates and fees, quality of online tools and loan availability.
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Who it’s good for
It’s not a good idea to use a refinance student loan to pay off your credit card debt. In this case, NerdWallet recommends considering a personal loan instead.
- You have bad credit and want to improve it. NerdWallet’s analysis shows that people with higher credit scores tend to qualify for better interest rates than those with lower scores who are trying to rebuild their credit after bankruptcy or other events that negatively impact their score.*
- You’re looking for certainty in your financing conditions. The NerdWallet study also found that consumers with poor or fair credit who go through traditional lenders have more unpredictable interest rates than those who refinance through private banks.*
- You want an easy process without all the fine print. Refinancing student loans can be done quickly and easily online without having to visit your local bank branch—and without having a personal relationship with the lender, which could get you better deals on interest rates and fees.*
If you want a simple process
The Nerdwallet Refinance Student Loan process is easy to follow and simple to understand. If you’re looking for a loan in minutes, it’s the way to go!
All you have to do is complete a few simple steps:
- Get a quote on the site. It takes only about 5 minutes, and once you’re done answering questions about your personal finances, Nerdwallet will give you an idea of how much it could potentially save on future interest payments if refinancing with them was possible.
- Apply online using the application form provided by NerdWallet. Once again, this part takes less than 15 minutes and can be completed from home or work—no need for an appointment at a bank branch!
If you’re looking specifically for a set term
If you’re looking for a set term, NerdWallet’s top picks are the Wells Fargo Home Mortgage Refinance Plus, Citi Simplicity and Chase Slate.
Wells Fargo offers 30-year fixed rates as low as 3.875% APR (with an average of 4.1%). The rate is variable, but it’s lower than the average rate on our list of student loan refinance lenders by 0.15%. It also has no origination fee and no prepayment penalty if you pay off your loan early.
Citi Simplicity charges between 2% and 5% based on creditworthiness and allows borrowers to choose a 10-year or 15-year repayment plan with equal monthly payments ($1,200 to $2,400). There’s also no penalty for paying off your loan early, making it suitable for graduates who want flexibility in their financial lives over the long run but don’t necessarily want to rush into buying a house or car soon after graduating from college or trade school.”
If you have bad credit
If you have bad credit, NerdWallet refinance student loan can help. If your credit isn’t great, a higher interest rate is probably in your future. You may also pay a higher loan origination fee and monthly payment due to the fact that there are more of these costs associated with student loans than other kinds of debt. You might be able to get help from a cosigner if they have good credit and are willing to help out with payments while you rebuild yours over time.
If you want to know more about this lending company check out their site here!
NerdWallet has been around since 2007 and they have a ton of experience getting people the loans they need. They offer student loan refinancing, home loans, car loans and credit cards. If you want to know more about this lending company check out their site here!
They have a great customer service department that is available 24/7 to answer any questions you might have about using their website or getting a loan from them. Their reviews are very positive with an average rating of 3 stars out of 5 on Google Play Store where most reviewers say that it’s easy to use and quick as well as having great customer service which is important when dealing with financial companies especially when it comes time for your monthly payment date!
If you’re looking for student loan refinancing, NerdWallet has you covered. We offer a comprehensive review of student loan refinance options and more than 10 lenders to choose from. Our team of experts has read thousands of customer reviews, listened to hundreds of hours of personal finance podcasts, and dug into every aspect of each lender’s offering so that we can tell you exactly what you need to know before signing on the dotted line with one company over another!
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