2721: When You Should & Shouldn’t Refinance Your Student Loans by Travis Hornsby with JackieBeck.com
Optimal Finance Daily - Financial Independence and Money Advice
Factors to Consider Before Refinancing Student Loans
Ensure you can cover all expenses before choosing to refinance. Credit card debt may hinder the ability to access a good interest rate for refinancing. Income-driven repayment plans are only available for federal student loans. Do not refinance if there's a chance of qualifying for PSLF. Avoid refinancing if you are close to paying off your loans. Refinancing is not the ideal choice for everyone as it may entail giving up federal loan perks. Consider cutting expenses to pay off debt quickly before opting for student loan refinancing.
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