The conversation between human and AI assistant.
If you were asking a student loan borrower just five questions about their loans what would those be?
How does someone go about refinancing their student loans?
To refinance student loans, a borrower can apply with a private lender or financial institution. The goal is to get a lower interest rate and potentially save money over the life of the loan. However, refinancing federal loans could mean sacrificing certain borrower protections, such as income-driven repayment plans and loan forgiveness programs. It's important to carefully consider the pros and cons before deciding to refinance.