Study Outlines Benefits of Refinancing Student Loans - Higher Education
Higher Education News and Jobs

Study Outlines Benefits of Refinancing Student Loans

Email




by Jamal Eric Watson

Recent college graduates should consider refinancing their student loans as one of the many options that might help them to save money in the long term.

That’s the findings of a recent study released by NerdWallet, a personal finance website that caters to college students and recent graduates.

In states like New Hampshire, recent graduates benefited from refinancing—a process to change the terms of a loan to take advantage of a lower interest rate—and were able to save more than $1,000.

“This isn’t a topic that is discussed very much so we wanted to bring light to the topic,” said Victoria Simmons, an analyst who conducted the study. “If you do have a lot of private debt, you might want to look into refinancing.”

Simmons said that refinancing isn’t for everyone, particularly those who live in states that have high interest rates on loans.

For more information on the study click here.

Jamal Eric Watson can be reached at jwatson1@diverseeducation.com. You can follow him on twitter @jamalericwatson

RELATED ARTICLES >>
Report: Student Borrowers Mired Deeper in Debt More student loan borrowers are finding themselves deeper in debt and taking a longer time to pay off their student loans — and an increasing number of student loan borrowers are older than in the past, according to a report released Wednesday from t...
Unaccredited and Undeterred: Morris Brown Seeks Turnaround Morris Brown College, a historically Black institution in Atlanta, Georgia, lost its accreditation in April of 2003 but has kept its doors and classrooms open in spite of a significant loss in funding and enrollment. The well-known college, which ...
No More Hawaiian Affairs Scholarships for Mainland Colleges HONOLULU  — Scholarship money from the Office of Hawaiian Affairs will only be going to students at the University of Hawaii system this academic year, officials said. The office gives $500,000 each year to Hawaiian students and could be used in t...
Dorm Overcrowding Affects 500 Students at Georgia State ATLANTA — Georgia State University must find room for roughly 500 students as more have applied to stay on its Atlanta campus than there are places to live. Local news outlets report that according to the school’s website, the campus’s increasing ...
Semantic Tags: