Did you know that Americans owe more than $1.2 Trillion on private student loans? Unfortunately, many private loan borrowers don’t understand the difference between private and federal loans when they take out the loans. That lack of information can destroy the financial future of the student loan borrower and the cosigner.
Student loan refinancing is all over the news these days. You may have borrowed federal and private student loans and found that while you can handle the federal student loans, you’ll have tough time with private student loans. Unfortunately, there is no way to refinance federal student loans within the federal student loan system.
There are some unique private student loan refinancing options these days which might provide both immediate and long-term solutions for private student loan borrowers.