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.

102,799 questions

99,099 answers

1,305 comments

7,015,693 users

...