The US is currently clenched by the claws of debt and while we pray that Uncle Sam shouldnât succumb to the pressure, the situation is turning worse by the day. We all have to confess that the crumbling economy has made us all remember the Ghost of Recession Past (2008), however, things are different this time aroundâŚ
Some reports suggest that student loan debt is on an all-time high and forms the bigger share of the countryâs debt than credit card debt.
Delving into the growing menace of student loan debt, it can be torturous (Seriously). It cripples you if things donât work out the way you want. For instance, what if you land up in a mediocre job and have to hustle your way to the American Dream (excuse the clichĂŠ)?
Albeit, several federal student loans offer some flexibility regarding repayment based on unforeseen events, but the interest continues to soar without an exception.
As loans keep on accruing interest at these astounding rates, the most intelligent thing is to pay loans off as fast as you can, by paying more than the base sum every month with the goal that you can keep wearing down the principal.
When you refinance a credit, you basically take out another advance â at a lower interest rate â to pay back the first advance. Albeit, contingent upon the kind of advance and the financer, there might be some extra expenses, the lower interest rate can spare you a lot of cash over the life of the credit â and every month. Obviously, in the event that you keep your installments the same, youâll wear down additional principal and complete the process of paying it off sooner.
But donât you think that there is something missing in the way overall student loan matrix works? Donât you feel as if you have been devoid of some right as you have to alter your choices (sometimes which may include career choices as well) to counter the student loan you owe? Donât you feel that the process of getting a quote for student loan refinancing is laid back? Have the refinancers done enough to make a bundle of options available at your disposal? If your answer is noâŚ then itâs high time that you get acquainted with SoFi; a high consumer-centric financial service that has changed the way how things used to fly in the financial market of US.
SoFi has brought much of renaissance in student loan refinancing, for instance, to get a quote you donât have to move even an inch. It is available at your fingertips. Besides, making optimum advantage of the convergence of technologies, SoFi has done justice to the social aspect of its name i.e. Social Finance. Undoubtedly, it is one of the pioneers to adopt consumer-centric ways and align its service with mobile first technologies and this has made SoFi standout from the lot. It has successfully designed an easy application experience and a highly engaging and supportive approval process as well a well thought out post signing experience.
When you go to SoFiâs landing page, the first thing youâll see is an option to âDiscover My Rate.â This is a no fixed way to get a clue of what SoFi will put on the table â remember that it doesnât include a âhardâ credit check, so it wonât have any impact on your credit score.
Next, round out your basic data
On the accompanying page, discover the item youâre interested in. SoFi also offers personal loans, mortgages and the sky is the limit from there. Choose the one that is apt for you. Note that despite the fact that it says âApply now,â you have the liberty to just request a statement without really applying for anything.
On the following page, round out your data, basic training and work history, and the credit sum you need to refinance. At that point scroll down to âcheck my rate.â
You will be served with a decent number of fixed and flexible plans, so you can choose the one which best fits in your situation. Even if you opt for a long-term plan, you can also pay back more than the minimum amount to pay off your loan faster.
Whatâs the biggest evil that keeps lurking over your head once you have signed the loan contract? Can anything be worse than getting fired? Donât worry SoFi has got your backâŚ
For instance, should you lose your job after applying for a line of credit with SoFi, they have Unemployment Shield to save you from collateral damage. It allows you to defer your advance in increments of three months, to give you an opportunity to get recovered. When you lose your job, youâre already in a mess, endeavoring to work out how to pay the bills and how to land another position. The last thing you need is to add to that stress level. SoFi comes to your rescue in such casesâŚ
If this Doesnât Convince You Enough To Visit SoFi, We Donât Know What Will đ
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