Student loan refinancing in 2022 is at an all time high because interest rates are at an all time low. If you are one of those people that did not get their loans forgiven it is the perfect time to check into getting a new loan, at much better terms. Keep in mind, though, that just because interest rates have been extremely low does not mean that it is the perfect move for you. Before making any type of move to refinance you must evaluate your financial situation. If you are in a better place than you were when you first applied, then by all means go ahead. If you are in a worse place you will want to analyze your numbers before moving forward. Getting your student loan refinanced at an excellent rate will depend on your personal credit score, and history. Even if that is not the best, though, you can always take a month or two and improve it. Now, with that being said, if you are still confident that getting a student loan refinance is your best move it is important that you follow a few simple steps. Compare: The first step that you will want to make in the student loan refinance process in 2022 is to compare all your options. Your best bet is to use an online comparison site that will take some basic information from you and then the platform will connect you with some of the top lenders that they work with. This is a straightforward way to compare the loans that you can get without having to put a ton of time into researching to find a good lender. All you must do after they send you offers is to find the one that is best for you. Finding a good student loan refinance is as simple as that. Check Your Numbers: Before you jump into refinancing your student loan you will want to see where your credit score is. There are many sites and mobile applications where you can check your scores for free, and once a year you can get a free report from the three main credit agencies. The higher your number is, the better rates you can get on a refinance loan. You want to be around seven hundred for your credit score, and your credit history should show that you are stable and set up well for a job and a place to live. If you need some tips on getting your score, check out Investopedia. Application: After you have taken the time to compare all your options, and you have done work on your credit score (as much as you can anyway) it is time to fill out the application. Go through every line and make sure you fill everything in that they are asking for. Check to make sure that there is not anything on the application with which you do not agree. Make sure that the repayment terms do give you better rates and lower monthly payments, and check for any hidden charges. If all is good sign on the dotted line and submit it. Now you wait. Payments: Once the new loan provider has accepted your application you will get set up on making payments once again. That is, of course, if the lender that you have chosen to go with accepts your application. If you have done your homework this should not be an issue, but every once in a while, a lender will surprise you. If you have a bank account, you will want to set up automatic payments to prevent yourself from missing a payment or being late on one. If not, make sure that you have the due dates written down on your calendar, or programed into the calendar on your mobile phone. That is all that there is to it. Getting a student loan refinance in 2022 is that simple. Just make sure, before taking the leap, that it is the best move for you. If things have changed and you can qualify for a loan with the rates being so low, it is something that you should take advantage off. You need to understand, though, that if you refinance through another lender, you will not qualify for any of the federal programs such as loan forgiveness or forbearances. You will not be able to get a loan that is based on your income, and once you have made the move you will not ever be able to go back to a government backed loan provider. If not, it is still worth looking in to. You truly never know what you can find. If a refinance loan can be received with higher rates than the norm, but lower than your existing student loan, it would still worth the effort of applying for the new one. Any money saved is extra money earned.