What do I need to qualify for refinancing?
When you apply to refinance student loan debt, lenders consider these factors for qualification:
Credit score: Most lenders have a minimum credit score requirement and offer low interest rates to borrowers with good to excellent credit.
Debt-to-income ratio: Your DTI is how much of your monthly income is required to pay expenses like your rent or mortgage, car loan, and other bills.
Income: Private lenders want to make sure you have a steady job and enough monthly income to live on after making your loan payments.
Degree: Not all, but some lenders require that you have completed your degree in order to refinance your student debt.
Amount of debt: Lenders have a minimum and maximum amount they’ll refinance — typically between $7,500 and $300,000.
Learn more.