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Can You Refinance Student Debt Before You Graduate?

An increasing number of student borrowers are looking for payment relief by reducing their interest costs through student loan refinancing. The question is, can you refinance your student loans before you graduate? The answer is yes.

Below, you will see why it may make sense to refinance before you graduate and what to keep in mind before doing so.

  • Income-driven repayment is an alternative

What to consider when refinancing before graduation

When you refinance student loans, you are taking out a new loan with new loan terms through a private lender. Oftentimes, the goal of refinancing is to lower your interest rate, therefore decreasing the overall cost of your loan.

Income-driven repayment may be an alternative

Alternatively, if you have federal student loans you can wait until your repayment starts after leaving school (with or without a degree) and enroll in an income-driven repayment plan.

With the help of LendEDU’s blog, tools, and resources, our goal is to assist you in making educated financial decisions. LendEDU: Educated Financial Decisions.