Student Loan Refinancing Can Help Borrowers

This first appeared on demos.org

As student debt continues to make up a larger financial obligation for American households, it is imperative that we provide student debtors with as many mechanisms as possible to pay back their loans as quickly as possible. One way to do so is to provide borrowers with an opportunity to refinance federal and private student loans down to current interest rates, thereby lowering their monthly payment and saving potentially thousands over the life of their loan.