Refinance student loans now and you will likely save money heres why
On March 3rd, the Federal Reserve announced an emergency rate cut in resopnse to covid-19. The cut, which drops the federal funds rate to a target range of 1 to 2 percentage points, is the first emergency move to lower interest rates since 2008.
This move is designed primarily to help stimulate the economy can also be of great use for struggling cash strapped students in need of probable long term assistance as the economic conditions in the country is likely to recover in a slow gradual pattern leaving many students with limited job opportunities after graduation, especially the juniors and seniors.
All private lenders consider credit and income when determining loan eligibility, though. and borrowers without a high credit score or sufficient income may need a cosigner or may find it difficult to refinance their student loan.
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