The aim of refinancing is to lower one's student loan payment every month. To refinance student, this can be attained by locking in a lower fixed interest rate or by extending the term of payment. The latter costs more in general though it substantially lowers monthly payments. Many students who wish to refinance student can do so by myriad student loan consolidation programs offered by various lenders. College students who obtain a federal or private loan must be wary of their finances especially when graduation is nearing. In order to simplify a college student's finances, in theory, he may opt to stretch out his repayment of loans or refinancing...
