There are many benefits to refinancing your student loans. But it may not be for everyone. Federal student loans have some benefits that a private refinance or consolidation of the loan may not offer.
It depends on various factors including your personal financial situation, your current interest rates, your monthly payment, the remaining balance on your loan, etc.
Working graduates who have high-interest, unsubsidized Direct Loans, Graduate PLUS loans, and/or private loans will greatly benefit from refinancing their student loans. Federal loans do have some benefits that are not available in private loans. Check our articles to learn more about student loan refinancing.
You can refinance your student loan as often as you would like. But it is beneficial to refinance after your credit score improves significantly or the interest rates go down.
The primary applicants can release their cosigner from the loan obligation after making the required full principal and interest payment and meeting the required credit and income criteria through the cosigner release process.