WASHINGTON, Aug. 3, 2021 /PRNewswire/ — U.S. News & World Report, the global authority in rankings and consumer advice, today announced the addition of a fourth major category to its Best Loan Companies Ratings: Best Student Loan Refinance lenders.
Best Loan Companies Ratings is a five-star system to help consumers compare more than 70 lenders as they seek to conserve cash when buying a home, paying for emergency expenses or consolidating debt. In addition to Best Student Loan Refinance lenders, U.S. News rates the best loan companies semiannually in three other major loan categories: Best Private Student Loans, Best Mortgage Lenders and Best Personal Loans. The ratings appear on U.S. News lender profiles and are accompanied by relevant information about each lender, such as minimum credit score requirements.
«With the pause on federal student loan payments set to expire at the end of September, refinancing your private student loan may be an option to lower your monthly payment and save on interest,» said Kim Castro, editor and chief content officer at U.S. News. «The Best Student Loan Refinance lenders ratings will help you see how lenders stack up and choose the best lender that will save you on time, money and stress.»
U.S. News scored lenders in three categories – affordability, customer service and eligibility – based on several factors, and then assigned ratings based on a weighted, cumulative overall score. Factors for the Best Student Loan Refinance lenders ratings include customer service ratings, refinancing interest rate, refinancing loan term, refinancing loan amounts, refinancing minimum FICO score, product availability and online features. For further details on how the ratings were calculated – including factors that determine the Best Private Student Loans, Best Mortgage Lenders and Best Personal Loans – see the methodology.
The best loan companies in many other categories are identified periodically. U.S. News also publishes content to help consumers make informed decisions on mortgage refinancing, home equity loans, small-business loans, debt consolidation and more. Consumers can find advice about the loan application process, learn how to evaluate lenders and save money on costs.
U.S. News’ College Loan Center also has tips and tools to help consumers navigate through financial aid, student loans and overall financial planning.
About U.S. News & World Report
U.S. News & World Report is the global leader in quality rankings that empower citizens, consumers, business leaders and policy officials to make better, more informed decisions about important issues affecting their lives. A multifaceted digital media company with Education, Health, Money, Travel, Cars, News and 360 Reviews platforms, U.S. News provides rankings, independent reporting, data journalism, consumer advice and U.S. News Live events. More than 40 million people visit USNews.com each month for research and guidance. Founded in 1933, U.S. News is headquartered in Washington, D.C.
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SOURCE U.S. News & World Report