Is it a good idea to refinance your student loans?

+1 vote
asked Mar 16, 2018 in Financial Aid by Irby9 (350 points)
Is it a good idea to refinance your student loans?

If I refinance a student loan will it help me in paying back the student loans?

1 Answer

0 votes
answered Mar 16, 2018 by Grahlu (51,270 points)
If you can get a lower more affordable payment and a lower interest rate on your student loan then it can be good to refinance the student loan with another student loan company.

When you refinance a student loan you're taking out an entirely new loan with different terms and conditions and payment options.

If you can't get a lower payment or lower interest rate on the student loan then it's best to not refinance and stick with the current student loan company.

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