Federal student loans consolidating again
The new loan, even though it was originally a federal loan, is a private loan in every way.
The news is worse for borrowers who refinanced or consolidated their federal student loans..
The good news for some borrowers is that there are a number of steps between rate shopping and the point of no return.
Additionally, a second refinance can fix some errors.
Lenders offer these services because they think they can identify the lower risk and more profitable borrowers.
The refinance process normally starts with a borrower checking interest rate offerings of various student loan refinance lenders.