With the holiday season approaching, it is important to start looking for ways to save money. Student loan refinancing may be the right option for you.

By refinancing your student loan you can:

You may be a good candidate for refinancing if:

• You have graduated with a degree
• Your loan balance is $5,000 or more
• Your credit score is at least 660
• You have a steady source of income or a firm job offer

Let's face it, growing up is hard. Who ever thought being an adult brought so many changes so fast. But it isn't all bad right? Like most transitions, there are things to look forward to in adulthood. Here are 8 signs that indicate you're in the middle of a quarter-life crisis.

1. When Friday nights on your calendar are booked as "Netflix".
   
   Late night partying is a thing of the past. The only “parties” you’re familiar with now are the political parties in “House of Cards”. (Bonus points if you actually own and update a calendar).
   
   
   
2. You sip your cocktails, instead of chugging them.
   
   Cocktails are expensive, and you work hard for your money! So yes, you are going to sip that drink and enjoy Every. Last. Drop.
   
   
   
3. A “weekend getaway” no longer means crashing on your buddy’s couch.
   
   Say goodbye to awkward sleeping positions. Though your friend’s couch may be exotic and exciting by some standards, your discoveries there are not as pleasant. No more cheese dust and loose change, you have more exciting adventures waiting!
   
   

Refinancing your student loan can lower your monthly payment and potentially save you thousands of dollars on interest. While the process isn’t difficult, refinancing college loans does require some research on your part in order to get the most benefit. Here’s what you need to do:

Preparation is Key

Your credit score is a major factor that lenders consider when you apply to refinance your student loans. Since earning your degree, you have probably been earning a salary and consistently making payments on your loans and credit cards. These can contribute to a good credit score. You should check your credit report to make sure it accurately reflects your creditworthiness and that all the reported information is correct. Here’s how:

What’s your next step and what’s holding you back? If you are like most who have graduated college and started a new career, you probably have dreams of getting your own place, traveling or maybe getting married. And it’s also likely that student loan debt is interfering with those plans.

If you want to save thousands of dollars in interest payments on your college loans and reduce your monthly payout so you have more cash every month, student loan refinancing is the answer.

When prospective college students don’t qualify for enough federal funding, a supportive parent may step in to cover the financing gap. The Department of Education’s Direct PLUS Loan program allows parents to take out a federal student loan on their child’s behalf to cover any remaining education expenses.

While this is a popular solution to soaring education costs – more than 3 million parents are currently repaying PLUS loans – it also leaves parents with a major portion of their kids’ student loan debt. And, Parent PLUS loans come with a much higher interest rate than other federal student loans.

If you are like most college graduates with student loans, you probably have two goals that seem to cancel each other out: pay off your student loans and save money.

Ready to get both those goals in gear and breathe a whole lot easier? Here’s how:

As a recent grad with student loans, you probably already know your repayment is just around the corner. I encourage you to take advantage of your grace period and not wait to get your first bill before making plans for repayment. Here are a few tips I thought I’d share to help you tackle your student loan debt head on.

Striking out on your own after college can be challenging for financial novices. For graduates with record student loan debt and entry-level jobs or worse, no jobs at all, learning to manage debt wisely will pave the way to a good credit score. That in turn creates opportunities down the road, including the possibility to refinance student loans at a better rate.

If you're a recent college graduate who took out student loans, you likely owe about $35,000. As eye-popping as that average debt figure is, you're certainly not the only one wondering how you'll possibly get out from under your loans. As with any difficult assignment, though, research and a well-thought-out plan will help you tackle even the most challenging of debt situations.

Making use of the following strategies will help you get out of student loan debt. Here's a look at where to get started.