It’s never been a better time to think about refinancing your student loans. With interest rates at record lows, refinancing can be a smart move for many student borrowers—assuming they’ve taken everything into consideration. There are currently more than 43 million people with student loan debt in the U.S., and borrowers carry an average balance of more than $39,351.

As a result, tens of millions of people stand to potentially save some money by refinancing their loans at lower interest rates—particularly with student loan payments resuming in February after a two-year freeze. Here’s what to keep in mind before shopping around for a new rate.

Important things to consider before refinancing your student loans in 2022

The first thing to know about refinancing your student loans in 2022 is that the timing is perfect in terms of interest rates.Continue reading→