I'm currently a sophomore in school. I got 7,300 balance across five accounts. I don't wanna pay that interest rate after school, so I wanna start tackling now. I have a decent credit score of 690. Right now I'm teaching piano and I make about 1,000 a month. Where can I refinance those loans?
Hello @JustTrynaEatMan - I have moved your thread to the Student Loans section of the forums to provide better exposure to your question.
You don't have to refinance to start paying down the loans - you can pay on them now.
People sometimes do it to avoid additional interest while they're still in school, it's not uncommon.
Is the interest rate very high?
Is there any other reason (besides starting to pay) that you want to refi?
Are these private or federal?
If they're federal, you would lose the additional protections (ability to get deferrals, forebearance, additional payment plans, forgiveness optins). If private, then no harm/no foul.
You can check with any financial institution - credit unions might give better rates - plus there are online companies such as Sofi, Lendkey, Earnest and others that you can see if you prequalify without doing a hard pull on your credit.
I concur with @Sabii - you're going to be hard pressed to find a rate better than 4.9, plus there are interest payment options with different payment plans. A 690 isn't bad, but I don't think you'll find something for less.
If you were to start paying your loans now, you definitely want to start with any that are unsubsidized first.