Study loan refinancing?

[Avery5]

Banks offer mortgage refinancing in which you obtain a loan with lower interest rate than the original mortgage loan.

I wonder if there's a similar study/tuition fee loan refinancing scheme?
Any financial institutes that offer such service?

Banks used to charge 5.25% interest/year for study loans (pre-covid), so I am hoping to pay lower interest rates when the repayment resumes.

 

[reddevil0728]

Banks offer mortgage refinancing in which you obtain a loan with lower interest rate than the original mortgage loan.

I wonder if there's a similar study/tuition fee loan refinancing scheme?
Any financial institutes that offer such service?

Banks used to charge 5.25% interest/year for study loans (pre-covid), so I am hoping to pay lower interest rates when the repayment resumes.

check with the bank you currently have the loan from?

 

[Avery5]

check with the bank you currently have the loan from?

Checked with DBS they dont offer, so I'm looking for another financial institute that could pay off my DBS loan and charge me a lower repayment interest.

I know in some other countries it's possible but not aware of any in Singapore.

 

[Shion]

So far I see education loans are excluded from these refinancing scheme.

 

[dork32]

study loans has been at this rate since time began. it is unlikely that rate will ever change.

if the rates dont change, refinance got meaning or not?

 

[Avery5]

study loans has been at this rate since time began. it is unlikely that rate will ever change.

if the rates dont change, refinance got meaning or not?

Interest rates had been stagnant pre-covid.
Only recently the interest rate fell drastically, you can see all the banks reduce interest rates for both savings and loans.

If you have a mortgage loan, refinancing now would probably save you a lot of interests.

 

[dork32]

Interest rates had been stagnant pre-covid.
Only recently the interest rate fell drastically, you can see all the banks reduce interest rates for both savings and loans.

If you have a mortgage loan, refinancing now would probably save you a lot of interests.

mortgage loans has been moving up and down all the time.

study loan interest has never changed.