If you have student debt, you may be wondering whether or not it is a good idea for you to refinance the loan. To be honest, it depends on your situation and several important factors. But make no mistake, you do have to pay them back. If you don’t, you risk defaulting on your loan, which could lead to other drastic consequences.
Not everyone will benefit from refinancing their student loans. So it is important that you take some time to think about it before you jump in feet first. Below, are some of the reasons why and why you should not refinance your student debt.