If you are eligible for a lower interest rate than what you are currently paying on your student loans, refinancing usually makes sense as long as you aren’t dependent on federal benefits such as income-driven repayment plans and student loan forgiveness.

LendEDU provides free resources, including a calculator, to help students and young professionals determine how much they could save by refinancing their student loan payments. You can also learn about additional factors to consider, as well as alternatives to refinancing. For more information, please click here.

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