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Did not graduate, but still have a student loan? The best lenders to refinance without a title are: (((Shutterstock).
Some private student lenders only refinance loans for those who have graduated, while others allow you to refinance your student loan even if you have not graduated. However, you must meet other requirements, such as sufficient credit and a stable income, to qualify for an undergraduate refinancing.
These four trusted lending partners allow you to refinance your untitled student loan.
With access to Credible, you can: Find out more about refinancing student loans. Compare rates from lenders of various private students.
1.1. residents
Citizens offers fixed and floating rates for refinancing, as well as interest rate cuts and the release of auto-signers. The loan repayment period ranges from 5 to 20 years.
Minimum credit rating: 600-700
Loan amount: $ 10,000 to $ 750,000
Qualification:
- Must be a U.S. citizen or permanent resident
- Annual income of at least $ 24,000
- You may not be currently enrolled in school
- Applicants with or without an associate degree must make at least 12 eligible payments after graduating from school.
2. Inversion
INvestED is based in India, but offers student loans with repayment periods of 5 to 20 years to borrowers nationwide. INvestED offers several deferral options and a simple co-signer release process after 48 months.
Minimum credit rating: 670
Loan amount: $ 5,000 to $ 250,000
Qualification:
- Must be a U.S. citizen or permanent resident
- Annual income of at least $ 36,000
- 12 consecutive months of continuous employment
- No bankruptcy in the last 5 years
- Other approved monthly credit payments (mortgages, car loans, etc.) should not exceed 40% to 50% of total monthly income.
3. MEFA
The Massachusetts Department of Education Fund encourages you to apply for a student loan or refinancing even if your state resident has not yet graduated. You can refinance up to the full balance of your student loan and benefit from a flexible repayment period of 7 to 15 years.
Minimum credit rating: 670
Loan amount: $ 10,000 up to full loan
Qualification:
- Must be a U.S. citizen or permanent resident
- You currently need to pay for a student loan
- No bankruptcy or foreclosure in the last 60 months
- Must attend a MEFA (non-profit) qualified university
4. RISLA
The Road Island Student Loan Department offers student loan refinancing services nationwide, allowing you to refinance your loan even if you have not graduated. The lender does not charge a prepaid fee and you can set up automatic payment to reduce the fee. RISLA offers immediate and deferred loan refinancing options and payment terms of 5 to 15 years.
Minimum credit rating: 680
Loan amount: $ 500 to $ 250,000
Qualification:
- Must be a U.S. citizen or permanent resident
- Annual income of at least $ 40,000
- Meet debt-to-income ratio and liquidity requirements
You can easily Compare pre-qualified rates From some lenders using Credible.
Can student loans be integrated without a degree?
Consolidating loans makes it easier to manage your debt by consolidating all your monthly payments into one. If you have federal student loans, you can integrate them with a direct integrated loan that does not cost you any. Federal and private student loans cannot be combined directly into an integrated loan, but they can be combined by refinancing into one private student loan.
Refinancing gives you a new lender and resets the terms of your loan. This may or may not reduce your monthly payments, but you may only manage one payment and may be able to fix it at a low interest rate.
Some lenders allow you to refinance your student loan without a title. However, you must meet certain credit, income, and debt-to-income ratio requirements. Other lenders may require you to be absent from school for at least 6 months and start paying off your loan.
The good news is that you may be able to use a co-signer to qualify for a student loan refinancing. Some of the best refinancing lenders allow the co-signer to be released after payment within a time limit of approximately 12-24 months.
To start refinancing your student loan, go to Credible Compare pre-qualified rates From some lenders.