To determine if refinancing your student loan is right for you, there are a few things you’ll need to keep in mind as you explore your options.
Before you go shopping for a loan, it’s important to understand your credit profile. Brazos Refinance Loans are a private student loan and your rate will depend on your credit. For refinance loans, the better your credit, the lower the interest rate you will qualify for, reducing your payment and saving you interest. Understanding your credit history and rough FICO score can help you shop for refinance options more effectively.
Brazos strives to provide transparent pricing. Check out our Rates & Terms to see our loan options, rates, and terms.
Brazos Refinance Loans begin repayment immediately and do not offer repayment options such as graduated repayment schedules or income sensitive repayment options. These options may be available to you through your current lender and will be lost if you refinance your existing loans. If you believe you may want to take advantage of these special repayment options, refinancing may not be right for you.
Also, forbearance and deferment options may be available with your existing loans that are not available with a refinance loan. If you plan on going back to school, for instance, your existing loans may allow you to defer payment on the loans until you are no longer enrolled in school, whereas a Brazos Refinance Loan will not have this deferment option.
In order to make an informed decision about refinancing your student loans, you’ll need some information about your existing loans.
This information will be necessary in order to calculate and compare total interest and monthly payments on your existing loans to those of refinance loan alternatives. If you don’t have this information, check with your current loan servicer. You should be able to get this information by logging in to their payment website or by referencing a recent billing statement.
Once you have this information gathered, check out our Refinance Calculator to see how a Brazos Refinance Loan can help you meet your financial goals.