Student loans are a huge problem for many students. They often end up with mountains of debt, and they never get ahead financially because they spend every penny they earn on paying back their loans.
There’s only one solution to this problem – refinancing. But how do you find the best loan program for you? And how do you make sure you get the lowest rate possible?
Let’s take a look at the differences between Discover and Laurel Road so you can make an informed decision about which company is right for your student loan refinancing needs.
Discover Student Loan Refinance
If you’re a student, Discover Student Loan Refinance is the perfect way to refinance your student loan. It’s available for both undergraduate and graduate students, and it can help you lower your interest rate and pay off your balance faster.
With Discover Student Loan Refinance, you’ll save money on interest payments for up to ten years after graduation, and you won’t have to pay anything up front. You’ll just make monthly payments until the loan is paid in full, and then you can stop making payments as well.
You can also use this program if you’ve already graduated from college or school and are looking to consolidate other types of debt into one low payment.
How Does It Work?
The first step is to apply online at discoverstudentloan.com/refinancing. Once you submit your application, you will receive an email with instructions on how to set up automatic payments.
Once you’ve completed these steps, you will be able to choose between two repayment options:
• Fixed Repayment – This option allows you to spread out your payments over a fixed period of time (usually 10 years).
• Graduated Repayment – With this plan, your monthly payments will increase each year based on a percentage of your discretionary income. Your final payment will be equal to what you originally borrowed plus any remaining principal.
What Are The Benefits Of Using Discover Student Loan Refinance?
There are several benefits to using Discover Student Loan Refinance. Here are some of them:
• Interest rates that start at 2.99% APR and go down as low as 1.49%.
• No prepayment penalties.
• Lower monthly payments.
• Flexible repayment terms.
• No origination fees.
• No hidden costs.
Laurel Road Student Loan Refinance
If you’re a student or parent who’s looking to refinance your student loans, you might be considering Laurel Road Student Loan Refinance. With rates starting at 3.99% to 6.65%, this company is one of the best for student loan refinancing.
Laurel Road offers fixed and variable loan rates, depending on what kind of refinancing you need. Fixed rates are available as low as 3.99% and variable rates as low as 2.50%.
The best part is that they offer more than just loans; they also offer parent PLUS loans and private student loans, too!
How Do I Apply For A Loan From Laurel Road?
To get started, visit laurelroad.com/apply. There, you’ll fill out a simple form and provide information about yourself and your financial situation.
After submitting the form, you’ll receive a call from a representative who will answer all of your questions. After you complete the process,
you’ll receive a letter confirming your eligibility and details about the next steps.
Keywords: Discover Student Loan Refinance, Laurel Road Student Loan Refinance
