What up, debt slayers!
It’s a great day to be on this blog if you’re holding any student loans right now :)
We’re partnering with my friends over at StudentLoanHero.com and gonna help one of y’all kill off a solid $500 of that nasty debt of yours! And hopefully help the rest of you by sharing a little about what SLH does for people too, and how they can help you pay less over the course of paying off your loans.
Here we go!
A Little About Student Loan Hero
This line on their homepage says it all:
We’ll show you how to save $14-17k on your student loans. For free.
In a nut shell they do two main things, and from what I know do them well:
- They help you find the best places to refinance your loans
- They aggregate all of your info into one sexy dashboard so you can finally see what the hell is going on with everything :) Kinda like mint.com, but for your student loans. They also offer some pretty cool calculators and tools too.
SLH was started by a dude trying to get $100,000+ of his own student loans figured out (and paid off), and they’ve since gone on to help over 60,000 other borrowers manage a total of over $1 billion dollars so far… Definitely worth checking out if you haven’t already: StudentLoanHero.com
The Debt Dashboard
Here’s a real-life snapshot of my friend Rebecca’s account to give you an accurate idea of what the dashboard looks like (you can click that link to read her full review of SLH too!):
You’ll notice the following in this shot:
- A list of all your loans
- The balances, interest rates, and status of each loan
- How much you’re paying in interest & principal each month
- And a place to adjust your monthly payments to see how it affects your loans…
Student Loan Hero’s Top Refinancing Lenders
As mentioned, they also have an area where you can see if refinancing is available to you, and what the going rates are for their handful of partners. Here’s the current live rates they’ve got going on, all of which are actually clickable if you want to start poking around them:
|Lender||Rates (APR)||Loan Types||Terms||More Info|
|2.13% – 7.49%||Variable & Fixed||5, 10, 15, 20||Learn More|
|2.13% – 7.19%||Variable & Fixed||5 to 20||Learn More|
|2.13% – 7.49%||Variable & Fixed||5, 10, 15, 20||Learn More|
|2.17% – 9.39%||Variable & Fixed||5, 10, 15, 20||Learn More|
|2.14% – 9.22%||Variable & Fixed||5, 10, 15||Learn More|
|2.13% – 6.75%||Variable & Fixed||5, 10, 15, 20||Learn More|
I don’t know the ins and outs of all these guys, but I can tell you that I spent a few hours learning about Earnest the other week, and from what I saw they’re definitely doing things right. Super focused on their customers and have the highest amount of $$$ saved per applicant across the entire field too ($17,936 avg). Look for a separate article on them later as soon as I get back to my to-do list… (I’ve also heard good things about SoFi too, fyi – just haven’t poked around as much yet)
And that’s the quick rundown on Student Loan Hero!
Now to The $500 Student Loan Giveaway!
The part I know you’re most excited about ;) A chance to win $500 in cash money to help pay off some of that debt – woop! Just answer these two questions below and you’ll be entered to win:
- How much student loan debt do you have left? (Feel free to go anonymous if you’d like)
- Have you heard of Student Loan Hero before? If so, what are your thoughts? If not, does it seem like they can help you out? (Check them out here: StudentLoanhero.com)
Please be as open and honest as you can – it won’t affect your entry at all, I promise :) As someone who’s fortunately never had to deal w/ student debt before, I’d love to gauge the public opinion on them as well… Everything I know about them over the years have been super positive (or else I wouldn’t be writing about them today!), but it always helps to get more opinions, right? So think of this article today as half giveaway / half poll :)
Answer both questions *below in the comments* by next Sunday night (Easter) @ midnight, March 27th, and you’ll be officially entered to win.
Good luck!! And stay tuned for future articles/reviews on student loan stuff as I’ve been majorly slacking on this over the years… I know how crippling this stuff can be, so hopefully this helps!
*BONUS* If you share this article on Twitter or Facebook, we’ll give you one extra entry :) But make sure you let us know you did it in a *separate* comment below so we catch it (and count it).
*** GIVEAWAY NOW OVER *** Thanks for participating and sharing your debt stories, everyone! Been eye opening for ME to say the least about student debt out there (wow), as well as hearing y’alls thoughts and experiences with Student Loan Hero too.. They loved reading ’em all! And now to the part y’all been waiting for – the winner… After using Random.org to pick our person, the lucky winner of $500 to help pay off their debt is…. dum dum dum….. Maggie from Chicago! (Commenter #139). Congrats Maggie! Thank you for reading the blog and participating – we hope this help you kill off those debts sooner! See y’all back for another giveaway soon! :)
Giveaway open to U.S. Residents only, ages 18+. This giveaway is sponsored by Student Loan Hero which means I’ve been paid to help give away $500 to one of you ;) There are also affiliate links included here to the respective services. Please note I only promote companies I find to be super helpful though, so you won’t see me hawking nonsense left and right just for a chance at a quick buck. You guys – the community – comes first, always.
Bonus tip: Find a good "balance transfer" offer to help pay off debt faster!
If you’ve been making payment after payment (on time) and still haven't been able to get your debt under control, snatching up a good balance transfer credit card offer may be the ticket to try. That’s where in order to gain your business - credit card companies will let you transfer your existing debt to a new card and let you pay ZERO PERCENT interest on it. Saving you tons every month!
What's the catch? Usually balance transfer cards charge a fee (around 3% of your debt balance) to let you transfer your balance to their 0% interest offer. But we've found a great credit card that will let you do a balance transfer absolutely free. Click here to learn more and see if you qualify!
PS: If you don't trust yourself with another credit card, ignore this! This strategy is to help you get out of debt quicker, not risk adding more to it.