‘It’s not the same as the warm and fuzzy student loans that you started out with. It’s a bank loan,’ one student-loan expert said
There are potential benefits and drawbacks when refinancing federal student loans with a private lender, experts say. One question to consider: Can you afford to give up the protections and repayment leeway that come with federal loans?
MarketWatch photo illustration/iStockphoto
Millions of student-loan borrowers are determining how — or if — they can fit a student-loan bill back into their budget after a three-year break.
Student-loan payments will resume in October, at a time when interest rates are high and inflation is slowly retreating. Borrowers will not have the benefit of loan forgiveness; the Supreme Court blocked the Biden administration’s plan to forgive up to $10,000 to $20,000 each for eligible borrowers.
To…