Reduce your student loan payment
A lower payment on your student loans could mean more financial freedom.
Published Wednesday, November 16, 2016 to Advice
Don't let your high student loan payment tie you down. When you refinance your student loans with Veridian through LendKey, you could get a lower payment each month. So what could this mean for you?
A smaller percentage of your salary could be used towards your debt.
When less of your income is being used towards your student loan payment, your debt-to-income ratio, or DTI, is lower. The lower the ratio, the better you look to lenders. Lenders take your DTI into account when considering your eligibility for loans, including purchasing a new car or buying your first home.
Work towards paying off other debt.
Use the extra you save on your payment each month to put towards other debt you may have with high interest rates, such as credit cards, store cards, or personal loans. The sooner you can pay these off, the better your credit score will be.
Save your cash.
Keep the money you save each month and invest it back into your savings account. Give yourself an extra financial cushion each month, or save up for a big purchase.
Putting you on the path to financial freedom – that's the value of Veridian.