A Smart Way to Handle Student Loans
Pay all of your student loans to one creditor instead of many
When you first take out your student loans, you’re probably not in a position to shop around for the best rates, and you might not even understand what terms you are getting yourself into. You just want to get your education so you can go out into the world and be successful. It’s understandable. But now that you’re in the real world and are stuck paying back those student loans, you may want to consider looking at your original terms and seeing if there are other, better financial options available to you. What used to be an industry monopolized mostly by banks is now an area where private lenders like ProFinance have stepped in to help you consolidate your student loans. If you have multiple private or federal loans with high interest rates, a student debt consolidation loan may be a smart way to pay off those outstanding debts faster and easier every month.
Clients Choose ProFinance for their Loans and lines of Credit Because:
The quick and easy loan process lets you apply in minutes.
Upon approval, you can have your funds as early as the same day.
Our multiple alternative lending options let you choose the financing that fits your needs.
Like with any form of financing, there are pros and cons to consider before you jump into a student debt consolidation. Here are some of the benefits that make this type of lending attractive to borrowers:
- Lower monthly payments – Depending on your creditworthiness, you may be able to consolidate your multiple bills every month into one monthly payment. If your payment is reasonably attainable for you and the terms of your loan agree, you may even be able to pay extra and pay off your debt sooner.
- Lower interest rates – The goal of student debt consolidation is to take multiple high-interest loans and combine them into one fixed payment with a lower interest rate. If your creditworthiness lets you get approved for this type of financing, your interest rates will go down and your credit score will go up as you continue to make your monthly payment.
- One creditor – If you are like most students, you will have at least three different creditors servicing your student loans by the time you graduate. Multiple accounts can reduce your credit score and make it difficult to keep up with, much less pay off, your loans. One creditor means less overall interest and less risk of defaulting.
- A fixed interest rate – You may have loans with low variable interest rates, but those rates are tied to the economy’s performance. A poor performing economy means that your interest rates can skyrocket. With a fixed rate, you know exactly what you’re paying and for how long.
How To Apply:
1. Complete the short application form
Our application process takes less than 10 minutes, either online or on the phone.
2. Choose the lending option that suits your needs
Our agents will let you know which financing options you qualify for and you can decide which one you want to go with.
3. Access your funds
Complete the online checkout and the money is in your business bank account within 24 hours