In fact, student loans are such a hot topic right now that they are a frequent, if not focal, point of discussion in the 2016 presidential primary debates.Interns from around the city protest near the Senate steps to urge the Senate to act on a House passed bill, Smarter Solutions for Students Act, which would prevent student loan interest rates from doubling.
The biggest advantage to keeping your student loans with the federal government is repayment-plan flexibility.
Consolidating those loans into a single new one can simplify your payments, especially if your loans are with different loan servicers, the companies that oversee your payments.
It can also be a way to get into repayment plans you otherwise wouldn't be eligible for.1. One of the myths of consolidation is that it makes your debt less expensive by lowering your interest rate.
That said, it’s important to keep in mind that when you refinance your student loans, you replace all of your current and future benefits with the benefits of the new refinance loan.
Check out the two grids below for helpful tips on what to consider before refinancing your student loans.