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How Often Can You Refinance Student Loans – Refinance Student Loans 101 | Pros and Cons of Refinancing Student Loans

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How Often Can You Refinance Student Loans – Review

In this video, I’ll give you the refinancing 101 details for student loans, the pros and cons of refinancing student loans, who it may be more appropriate for, and what the process of refinancing is like. When you refinance student loans, you are consolidating your federal or private student loans into a new loan with a lower interest rate with a private lender. There are many pros and cons of refinancing your student loans and refinancing your student loans may not be for everyone. Before you make your decisions, do all the research you can to make the best decision for your financial circumstance. I personally refinanced my student loans 3 times, and with each time I have gotten a lower interest rate, which helps me save thousands of dollars in interest payments in the long run. I currently have refinanced $85,000 with Earnest at an interest rate of 3.87%.

Here is my Earnest affiliate link if you want lower your interest rate, pay down your debt faster, and get FREE $200: https://www.earnest.com/invite/france4

T I M E S T A M P S :
0:00 – Intro
2:00 – My Experience with Refinancing
3:20 – Pros of Refinancing
5:45 – Cons of Refinancing
7:34 – Things to Consider and Process

S T A Y C O N N E C T E D :
πŸ“Ί Subscribe:
https://www.youtube.com/channel/UCJ-IzXNu9X-dRrJI-ibizAw?sub_confirmation=1

πŸ“± Instagram: @firecrackerfrance
https://www.instagram.com/firecrackerfrance/

P R E V I O U S V I D E O S :
✨ MY STUDENT LOAN DEBT JOURNEY -Graduated from Physical Therapy School, All My Numbers and Refinancing:
https://youtu.be/BMj9LJcajSw

✨ Should You Invest or Pay Off Student Loans? | Finance for Beginners: https://youtu.be/4W38jLZzBFU

✨How To: GET 800+ CREDIT SCORE | Finance for Beginners: https://youtu.be/V-u0Wb60FFk

✨ How I Paid Off $50,000 in Student Loan Debt in 1.5 Years | Student Loan Debt Journey: https://youtu.be/_cgKdcsKKMw

✨ How To Stay Motivated When Paying Off Student Loan Debt | My Student Loan Debt Journey: https://youtu.be/ADJTiSrvbns

*Disclaimer: I am not a financial expert or professional, please do not take anything I say as professional advice. Everything in this video is for entertainment purposes. All numbers are accurate as of posting date. Please seek a professional and do your own research when it comes to your own financial decisions.

#refinancingstudentloans #debtfreejourney #studentloandebt

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36 Comments

  1. Mirei Sakane
    July 25, 2021 at 11:44 am

    This was extremely helpful!! Not gonna lie I didn't know anything about the cons of refinancing- I'm glad to know that it's not all just sunshine and rainbows so I can make more educated decisions lol. Thanks so much for another great video France!

  2. λ…Έλž˜ν•˜λŠ”Hyun
    July 25, 2021 at 11:44 am

    Hello…
    oh… great video!!
    Kk. Nice to meet u😺😺😺
    I’m corea^^πŸ™‚πŸ™‚

  3. Ryan Chang - Financially Fashionable
    July 25, 2021 at 11:44 am

    Quite a few of my family/friends did multiple refinances on their student loans and mortgages this year but this was really helpful in getting an objective view on the process. The aspect of lowering monthly payments and reducing interest is great, but I never thought about private vs federal loans and how the global situation would affect those people. Thanks for sharing France!

  4. Xena Kai Finance Videos
    July 25, 2021 at 11:44 am

    The reason I havent refinanced my federal loans is because it's currently at 0% interest

  5. Scott Edward
    July 25, 2021 at 11:44 am

    I didn't realize that you would lose your federal loan benefits when you refi. Good to know!

  6. The Everyday Life of an OCDish Chick
    July 25, 2021 at 11:44 am

    Here to learn.

    Hi there! New subscriber.

    Looking forward to seeing more of your content.

    I do gardening, DIY’s, cooking and DIML videos.

    Have a great evening!

  7. Milone Money Mindset
    July 25, 2021 at 11:44 am

    Great breakdown of the pros and cons. Yeah having a good credit score is really important when considering to refinance.

  8. Financial Lift
    July 25, 2021 at 11:44 am

    I'd like a college redo versus a refi!

  9. Trish Lee
    July 25, 2021 at 11:44 am

    You explained this so well! Learned so much from you! Thanks for all of the info! :)❀

  10. Ways To Wealth
    July 25, 2021 at 11:44 am

    So smart to consolidate debt!
    I really like the Paris backdrop!!!

  11. moongirl
    July 25, 2021 at 11:44 am

    idk why I'm watching this i dont have student loans. :p

  12. moongirl
    July 25, 2021 at 11:44 am

    i love your name

  13. Personal Finance
    July 25, 2021 at 11:44 am

    Glad to see that rate go lower and lower πŸ‘πŸ”₯πŸ‘

  14. Katie from Canada - Frugal Living
    July 25, 2021 at 11:44 am

    Great video as usual France you give so much information in these videos!!!πŸ’•

  15. The Money Management
    July 25, 2021 at 11:44 am

    Really nice list you got there, and great video! Thank you for sharing! πŸ”₯

  16. μš”λ¦¬μ‘°λ¦¬μ—°κ΅¬μ†Œ Culinary lnstitute
    July 25, 2021 at 11:44 am

    He speaks well and is pretty and beautiful. This is the best video.

  17. Trading With CJ
    July 25, 2021 at 11:44 am

    Nice breakdown! Ive heard of re financing but never really looked into it or heard much, soo this was good to know πŸ‘ŒπŸΌπŸ‘ŒπŸΌ

  18. Orlando Miner
    July 25, 2021 at 11:44 am

    Refinancing can really save you some money. Especially with these lower rates happening.

  19. Your Neighbor Jenny
    July 25, 2021 at 11:44 am

    So glad that your interest rates lower with each refinancing opportunity!
    I was definitely not aware of the cons to refinancing. Thanks France 😊

  20. Vangie Abian Vlogs
    July 25, 2021 at 11:44 am

    Wowgreat video sister.. I love it.. Thanks for sharing this vedio.. Take care.. GOD bless

  21. Vic & Lucy - Personal Finance & Investing
    July 25, 2021 at 11:44 am

    Thanks for breaking everything down and your personal experience refinancing your student loans. I have federal student loans so its really good to know how of the drawbacks of refinancing. Great video France!! πŸ™‚

  22. Frugal too Freedom
    July 25, 2021 at 11:44 am

    Hi france, I think u pointed out really good information giving both sides. I didn't know you could do this.

  23. Unorthodox Savings
    July 25, 2021 at 11:44 am

    Makes sense to save money on interest where you can invest it to make more money or pay off the loan/other expenses faster. Great video !

  24. DebtFree Dad
    July 25, 2021 at 11:44 am

    You right on time I'm looking into it.

  25. Her Penny Potential - Personal Finance
    July 25, 2021 at 11:44 am

    Oooo i wonder if you can refinance it here in the UK- great video!

  26. JIM INCOME
    July 25, 2021 at 11:44 am

    wow Earnest seems much better! I have to refinance my car in a month or two down from 2.9 to hopefully 1.9% .

  27. Emily Dowgialo Figuring Out Life
    July 25, 2021 at 11:44 am

    This was great, refinancing seems like such a great idea!

  28. Matt Welter
    July 25, 2021 at 11:44 am

    Great break-down! As you mentioned, refinancing is a great way to get lower interest rates!

  29. Diana Au
    July 25, 2021 at 11:44 am

    Great job France! I think you hit all of them and personally I would keep mines with the govt because most of my interest rates are under 4% and I'm taking advantage of this forebearance to speed up my process to pay them off. Can't wait to be debt free

  30. Rosangelica Juarez
    July 25, 2021 at 11:44 am

    Can you refinance private student loans?

  31. whatthefooze
    July 25, 2021 at 11:44 am

    Great video. Love a pro and con list. Direct information and well spoken

  32. Wagner Saucedo
    July 25, 2021 at 11:44 am

    Great info on getting your student loans paid off! Refinances is a good option!

  33. Josh Is On A Mission: FIRE & Debt
    July 25, 2021 at 11:44 am

    Re-financing is the best option if you're committed to paying off your loans.

  34. Kamran Nafison
    July 25, 2021 at 11:44 am

    Great information France, so many people with student loans out there that don't know they can refinance them! πŸ‘

  35. asianamericanlegalfocus
    July 25, 2021 at 11:44 am

    Great info for all those with student loans!

  36. Finance AP
    July 25, 2021 at 11:44 am

    Great pro and con list!