6 Pros and Cons of Student Loan Refinancing
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Pros of Student Loan Refinancing
1. Lower interest rate
2. Ability to add a cosigner
3. Ability to change the loan term
Cons of Student Loan Refinancing
1. Loss of access to federal programs
2. Approval is not a shoo-in
3. Federal loan consolidation becomes moot
Is It Worth It to Refinance Student Loans?
The Takeaway
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About the Author
Anna Davies specializes in writing for the fintech and startup space. In addition to her personal finance and investing articles for SoFi, she has written for such startups as WeWork, Happy Money, and Haven Life. Fortune 500 finance clients include American Express, Citi, and Chase. Davies has ghostwritten and collaborated on multiple New York Times bestsellers.
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