This tech company could save you thousands on student loans

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Do you feel overwhelmed by debt? You’re not alone. In addition to mortgages, car loans, and credit card debt, more Americans than ever are drowning in college life loan Fault. We pay thousands of dollars a year in interest while leaving hardly a dent on the principal. But here’s the good news: you don’t have to just sit and let debt control your life. A breakthrough startup called Credible uses technology to make refinancing student loans — let alone other types of debt — incredibly easy with just a few clicks.

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If you’re still reading this, we probably don’t need to tell you that the student loan crisis is crippling the US economy. As of 2020, an estimated 44.7 million borrowers are on the hook for amazing credit $1.56 trillion in student loans, with an average debt of $32,731. In fact, student loans are now the second highest category of debt, just behind mortgages. The way things are going, some experts are predicting that 40% of all borrowers will default on their student loans by 2023. And already a whopping one 32% of people filing for bankruptcy have significant student loan debt.

All of this debt doesn’t just affect individuals and households. It is burden the entire economy. When people are paralyzed by debt, they can’t save for a down payment on a house, qualify for a mortgage, or borrow money to start a small business. And all of this fuels economic growth.

Then there are the social effects of debt. More and more people are reluctant to get married and have children because they don’t feel financially strong enough. In fact, 13% of people between the ages of 20 and 45 said they decided not to have children because of student loan debt. And things like that can have a big impact later on, as society begins to come to terms with a generation of older parents.

Unfortunately, what most people don’t realize is that there are steps you can take to lessen the burden of debt on your shoulders.

Which brings us to Credible.

In the past, refinancing student loans or other debt required a ton the footwork. You would have to call a number of different financial institutions, provide each with your financial information, and get individual quotes from each. The whole process was incredibly lengthy and designed to maintain the status quo.

Credible was created to turn this system on its head.

Credible is not a lender or a bank. It is an online marketplace for student loan refinancing options. It allows you to compare multiple lenders side-by-side based on the criteria that matter most to you, such as: B. Total Repayment Amount, APR, Repayment Options and Monthly Payment. All you have to do is fill out a simple form and in just two minutes you’ll receive up to 10 personalized pre-qualified offers.

Some loan comparison sites will only provide you with general information about their products, which means that the rates listed will not necessarily be available to you. This is what sets Credible apart. When you use Credible, they do what is called a “soft credit request”. This type of loan request will do not Hurt your credit score, but it allows Credible to actually create personalized offers. It is only after you have decided to sign with a particular lending partner that the typical “hard loan request” is made. But at this point, your rate is already locked in.

With Credible, you can refinance federal, personal, and ParetnPLUS student loans, lower your interest rate or reduce your monthly payment. On average, people who use the service reduce the interest payment on their student loan by 37 percent.

Credible doesn’t just help with student loan refinancing. They can also help you refinance mortgages or find new student loans, new personal loans, and new mortgages.

So if you’re drowning in debt, don’t wait another day to take action. Fill out Credible’s simple online form, receive your personalized refinancing options and take back control of your life.

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