Meet Ashu - he's thinking about refinancing his student loans Email not displaying correctly?
Meet Ashu | He's thinking about refinancing his loans

Meet Ashu.
He's thinking about refinancing his student loans.

Like 45 million other Americans, Ashu has student loan debt. He took out Federal student loans for his undergraduate and graduate school.

Here's what he has:

  • About $20,000 in Federally-owned student loans, $0 in private loans

  • Combination of Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans

  • Interest rates ranging from 3% to 8% (Currently at 0% due to the emergency relief period)

  • Repayment periods of 10 and 15 years

  • His loans are serviced by AidVantage and Great Lakes

He's received marketing materials from private banks that say he's prequalified to refinance at a fixed interest rate of 2.89%. He likes the idea of combining all of his loans into one, easy payment, and if he extends his repayment period to 20 years he could save over $100 per month.

Ashu called an IonTuition advisor to learn more about his options. The advisor helped him apply for a Direct Consolidation Loan that will give him a single monthly payment to a single servicer for a lower monthly payment. Also, Ashu's loans will maintain the 0% interest rate under the emergency relief provision until May 1, 2022.

Are you considering refinancing?
Talk to an IonTuition advisor first -- especially during this emergency relief period

Go to IonTuition
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