Refinancing Your Student Loans With ConfidenceMay 16, 2018
Updated March 17, 2020
You’re out of school and thinking through your financial life more clearly, you’ve hopefully looked into refinancing student loans. Whether you’re looking for a lower monthly payment, lower interest rate, or even if you just want to consolidate multiple loans into one. Refinancing is a great way to get some serious traction on the long journey to being student loan debt-free.
With dozens of lenders enticing you with the ‘lowest interest rates’ on the market, how do you know which one to trust?
When a lender says they can offer you a lower rate, perhaps you suspiciously scan the room for conspirators hiding in the shadows waiting to stab you in the back. Sound dramatic? It happens to thousands of unknowing borrowers every day. “Et tu, Brute?”
The Street Cred of Credit Ratings
It is important to find a student loan refinance company that has credibility in the marketplace and you can trust. Fortunately, credit rating agencies who evaluate the creditworthiness of a student loan refinancing company and its operations can provide an independent assessment of the lender. A credit rating agency conveys the creditworthiness of a company and its debt financing with a letter grade. The grading system is similar to the way your credit score numerically reflects your own borrowing history.
Credit ratings are awarded by independent rating agencies, like Standard and Poor’s and DBRS. Rating agencies are hired to analyze a lender’s financing and operations. Since the rating agency’s reputation is on the line, they scrutinize every possible detail of a lending company. These agencies can be quite difficult to impress.
AAA is the highest rating a lending company can be awarded, and subsequent ratings drop in value (and confidence) – AAA, AA+, AA, AA-, A+, A, A-, BBB+, BBB, and so on, all the way to lowest rating – D..
‘AAA’ Straight Out of the Gate
Because of the premier quality of an AAA rating, it frequently takes a lender several years to earn. But we, at Education Loan Finance, recently became the first student loan refinancing lender to receive the AAA rating with our inaugural financing in the market.
This recognition from both Standard & Poor’s and DBRS (two of the nation’s top rating agencies) is a testament to the stability of our platform and the high quality of service and products we offer.
We believe that knowledge is power, and providing you with comprehensive refinancing and consolidation options enables you to step forward on your financial journey with confidence. That is why we created a state-of-the-art loan application platform and a customer service delivery model (through our Personal Loan Advisors) that provides you with personalized service throughout the refinancing process.
High Credit Rating Means Lower Interest Rates
Our AAA credit rating means that we attract responsible borrowers and bring a high credit quality to the market. We take pride in our ability to save our borrowers an average of $286 per month and more than $22,500 over the life of their loan*.
Empowering a Brighter Future
We want to help you make educated financial decisions and offer practical advice for achieving balance in life, business, and finances. In just a few minutes, you can find out how much you could save by refinancing, as well as explore repayment terms and interest rates that best fit your budget.*
*Subject to credit approval. Terms and conditions apply. Average savings calculations are based on information provided by SouthEast Bank/ Education Loan Finance customers who refinanced their student loans between 11/01/2021 and 12/15/2021. While these amounts represent reported average amounts saved, actual amounts saved will vary depending upon a number of factors.
Notice About Third Party Websites: Education Loan Finance by SouthEast Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the websites that have links here. The portal and news features are being provided by an outside source – the bank is not responsible for the content. Please contact us with any concerns or comments.