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Paying for an education abroad is a major financial concern for many students. While student loans provide much-needed relief, repaying them can be a daunting task, especially when you have a high loan amount. One effective way to ease your financial burden and repay your student loans is through refinancing. Here is all you need to know about it: What is a Student Loan Refinance? Student loan refinance  is a process where a borrower takes a loan at a new interest rate to pay off their existing student loans. The main goal of refinancing is to potentially secure better interest rates and save money in the long run. For eligibility  for abroad education loan   refinancing, lenders generally consider factors such as borrower’s income, credit history, credit score, debt-to-income ratio, financial behaviour, employment history, and residency status. Should You Opt for Student Loan Refinancing? Loan refinancing can be a good option for you if: ●  Your current loan EMI is ...

Student loan refinancing is the process of switching the lender of your existing student loan with a new one, often at a lower interest rate. The new lender approves the loan amount, which is used to pay off the old lender, the remaining repayments are then made to the new lender at lower interest rates, potentially helping you save money over the remaining loan tenure. S tudent loan refinance  has a number of benefits to offer, such as lower interest rates, reduced monthly payments, and even have the liberty to choose modified loan terms to better suit your financial situation. Top 3 Features of Student Loan Refinance Easy Loan Eligibility The criteria for eligibility for an abroad education loan  refinance may vary from one lender to another. However, anyone wanting to apply for refinance should have an existing education loan for higher studies in India or abroad. Borrowers should also have completed their studies and should be in the repayment phase before applying for ref...