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

Study Outlines Benefits of Refinancing Student Loans

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 >>
Asian Americans: Right to Be Angry at Harvard, Not African-Americans People of all backgrounds become so angry about affirmative action that it is difficult to discuss the subject. The current emphasis is on Asian American applicants to Harvard College and younger Asian American students competing for entry to the mag...
NCAA Softening Transfer Rules College athletes will no longer need permission from their coach or school to transfer and receive financial aid from another school. The NCAA Division I Council approved the change Wednesday. It takes effect Oct. 15. The long-awaited transfer ...
Campus Child Care Critical in Raising Single Mothers’ Graduation Rates Access to campus child care is a key factor in determining if single mothers in college will graduate within six years, according to the latest in a series of reports released Wednesday by the Institute for Women’s Policy Research. Just 8 percent ...
Study: College Financial Aid Award Letters Lack Clarity, Transparency Financial award letters from colleges often are so unclear or misleading that students and their families don’t get an accurate picture of the full cost of schooling and just how much money they will have to ante up on their own. That’s the conclu...
Semantic Tags: