The Top 3 Benefits of Student Loan Refinancing (2)

One of the best gifts that you can give yourself is to lessen your financial worries so you can move on up to saving for the future. Graduation is an unforgettable moment in the lives of many college students. It’s a time when everybody is optimistic for the road ahead. What await us after graduation are job opportunities and a chance to prove our worth as individuals. But one hurdle that graduates need to overcome are student loans that were obtained to finance their college education.

If you are one of the millions of Americans who are still struggling to repay student debts, we encourage you to sign up for debt refinancing instead. When you refinance your student loan, a new lender will pay back the remaining balance on your student loan and will reissue a new loan featuring a lower repayment scheme.

Student loan refinancing is considered by experts to be more beneficial than debt consolidation; yet another option of loan repayment. Here are reasons why:

  • A more efficient bill payment process

Refinancing through debt consolidation allows borrowers to streamline the process of paying for financial obligations. With refinancing, you do not have to make payments at multiple due dates, one which most often very confusing.

  • Extending the term of the student loan

If you are currently having a hard time in paying off your student loans or if you are expecting a change in income or expenses, you will absolutely benefit from refinancing your student debt. By stretching the life of your student loan, you will effectively make the monthly payment amounts substantially lower when compared alongside the original student debt monthly payment.

  • Successfully reduce your interest rates

This is undoubtedly the main reason why a lot of people are actually refinancing their student debt. Since almost all student loans feature incredibly high interest rates, your main goal is to lower it down to reasonable levels. By refinancing, you can effectively do this to private student loans but not on federal loans. If you have started with no credit history or an average credit score, you will want to look at refinancing. Once your credit status has improved since you applied for a loan, you will be entitled to reduction of interest rates. Your monthly payment will decrease significantly and you gain the chance to pay off the loan at a faster rate as well.

Car Insurance Quotes That Are Meaningful (1)

It is fairly easy for just about anybody to get some car insurance quotes from any auto insurance company website. All you have to do is go to the site, type in your information and find our what your rate will be.

Most of us don’t really think much about going to the website of our car insurance company, unless we just received notice from our insurance company that our rates are going up. Then suddenly, we become very interested. It will depend of course on how much the rates increase, because if they go up just a little bit, it is not so much that it matters. However, if the rates increase a lot, we spring into action.

It must be kept in mind that just because you get a certain rate on your car insurance company’s website, does not necessarily mean that is what your premium will be.

There are several factors that go into the makeup of insurance rates, not the least of which is your driving record. If you have had several tickets since the last time you applied for your car insurance, you can just about guarantee yourself that your current company is going to hike your rates big time. If that is the case, it is likely that everyone will be charging you more.

Other factors such as where you live, what kind of vehicle are you currently driving, do you use your car for work, or just for family use, and several other modifying factors will affect the rates of the policy.

One of the best strategies, if you really want to get to the bottom of things, is to locate an independent broker who is licensed with several car insurance companies and set an appointment to speak with him or her. Now, you won’t be talking to many of the name companies, because most of them are company shops. However, once you meet with the broker you will be surprised at the number of companies that will become available to you that are just as viable as the ‘name’ companies, and some of them may be easier to deal with too.

Offer to take the broker to lunch, and that way you can interview him or her for the job of becoming your auto insurance broker. He or she will be working for you, so you have the right to ‘interview’ your prospective broker. You will learn a lot, probably the most important thing being that car insurance rates change all the time, even when you are a perfect driver. In most cases it has nothing at all to do with you. They raise rates because they can.

What your broker can do for you is keep tabs on your insurance rates, and he or she will take care of shopping for the best plan and rates whenever it is appropriate, and you won’t have to worry at all about it. That works out a whole lot better for you and that is how it should be (for sure, you’ll end up getting the best auto insurance).

My Parents Will Not Be Around Forever

The other day was my mom’s birthday and it has me thinking. There are only so many more of these she will have and she needs to get prepared for this. While she thinks of herself as a young 59, it will only be a matter of time before she is retired and getting older by the moment. My dad is 61, so he is in the same boat. I am going to talk to them about getting life insurance policies. They have a very limited income, so I can cover the premiums if they need me to (been checking life insurance sites like

This is a complicated conversation to have with your parents, especially since it seems like you are planning for their demise, but I think that it is very important to be prepared in case anything happens. I know many people who dawdled around and did not worry about that until it was far too late. By that time, they were going around getting second mortgages and other loans in an effort to cover the expenses of burying one of their loved ones. I do not want my family to end up having to go through that.