The Student Loan Ransom: How Refinancing Became a Privilege for the Few The SAVE program may be ending, and federal student loan borrowers are facing significant changes this year.
Amidst the uncertainty, many students are turning to refinancing as a way to manage their debt. But what does it mean to refinance your loans? And who is left behind in the process?
Refinancing involves paying off high interest loans with lower interest rates or consolidating multiple monthly payments into one manageable sum.