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How to save money on student loans

Get out of debt faster


If you're still stuck paying the same monthly fee you've always been paying your student loan provider, you may be paying too much. 

40 million Americans owe an astonishing total of $1.2 trillion USD in student loans. Shockingly, the total balance of the US student loans grows by an estimated $2,726.27 every second*.

If you are one of these 40 million Americans, it's easily to feel overwhelmed under a mountain of debt; but there's good news. If your interest rate is greater than 2.14% APR, you are likely overpaying and may be able to save up to $20,000 on your student loan debt by refinancing.

How to pay less for student loans

What is refinancing?

Refinancing can sound complicated, but at its simplest, it is simply taking out a new loan with better terms to pay off an older, worse loan.

We recommend looking into refinancing if:
-You want to take advantage of a better interest rate or loan terms
-You want to consolidate other debt(s) into one loan
-You want to pay less over the lifetime of the loan

So how do you do it? The process is easy, and quotes are free and no-obligation. Here are some of our favorite providers compared:

About our top pick:

Credible lets you compare personalized loan offers from multiple vetted lenders, giving you the power and confidence to improve your financial future. By switching to a loan with better terms, you can save almost $19,000.

Save time and money by refinancing your student loans with Credible
-Refinance federal, private and ParentPLUS loans
-Lower your interest rate or reduce your monthly payment
-Average user saves $18,668 when refinancing through Credible partner lenders

How it works:
1. One simple, safe and secure form - no sharing of your personal data.
2. Get personalized rates (real rates - not ranges) - from multiple lenders in 2 minutes.
3. Checking your rates will not affect your credit score.
Customers rate Credible 9.4/10 on Trustpilot. 
Join thousands of others who have already received offers. 

Best student loan refinance 2017

Saving Money Starts Here. 

It's just that easy to save money on your student loan repayments and get out of debt faster.

Read more about this tool. 


Looking for a comprehensive budgeting app? Hundreds of thousands of people just like you have transformed their finances with You Need A Budget, now free for 34 days

*Source: America’s growing student-loan-debt crisis (MarketWatch)

We selected our top student loan refinance picks based on 2017 data. We hope that this tool helps you save thousands of dollars on your student loans by offering lower interest rates and lower monthly payments, meaning money back in your pocket each and every month. SmartCityMoney is not a lender and does not make loans. SmartCityMoney is a free, independently run website that seeks to empower borrowers to enable them to make informed financial decisions. The rates, terms and other student loan information provided on this website are believed to be 100% correct as of the time of writing however we cannot ensure their accuracy, and they do not legally bind SmartCityMoney or the lenders referenced herein. The rates, terms and other student loan information are estimates and may change periodically and/or differ from your final rate and terms, which may be based on your individual credit profile and other factors as determined solely by the lender. If you would like to apply for a loan, please visit the website(s) of the provider and carefully review their rates, terms and conditions for further information. Average savings is for all customers generally, and not necessarily for this product specifically. Please note that this is general financial advice that is applicable to most people, but it is not a substitute for consulting with a professional financial adviser. Your mileage may vary. Affiliate links may be used as a means of providing revenue to this site when they are offered by the service provider. 



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