5 Downsides to Refinancing Federal Student Loans
Paying back student loans can take a lot of time and can be expensive. During your repayment period, you may decide to consider refinancing your loans. This would involve getting a new loan and using it to repay existing student debt.
There's a host of options for student loan refinancing on offer from private lenders. Depending on your financial situation and the lender you choose, you can usually borrow enough to refinance the entire amount you owe, including both federal and private student loans.
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Source Fool.com