Study Outlines Benefits of Refinancing Student Loans - Higher Education
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Study Outlines Benefits of Refinancing Student Loans

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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

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