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 >>
Minority-Serving Institutions Anxious Over Tax Bill While the Senate Republicans just passed a major tax overhaul on Friday, higher education writ at-large has been wringing its hands for weeks. Especially for colleges and universities with large minority populations, the bill would only pile on more ...
Chicago STAR Scholars Program Provides College Access Tony Tran was all set to report to his dorm at the University of Illinois at Urbana-Champaign when his mother told him she had been diagnosed with cancer. “So I couldn’t in good faith go,” Tran says, explaining that he didn’t want to leave his fa...
Education Secretary DeVos Praises Senate Action on FAFSA Legislation U.S. Secretary of Education Betsy DeVos has praised a Senate committee for moving forward with legislation to simplify the Free Application for Federal Student Aid (FAFSA). Education Secretary Betsy DeVos DeVos’ praise followed a hearing Tuesday ...
DOJ Affirmative Action Investigation Unprecedented, Experts Say News that the Department of Justice has threatened to sue Harvard University if it fails to turn over applicant records, has raised new concerns about the future of affirmative action. It appears that the Department of Justice is persisting in its...
Semantic Tags: