Reported 2 days ago
The Federal Reserve's recent 25-basis-point rate cut is expected to significantly benefit private student loan borrowers, potentially leading to lower interest rates on existing loans. Betsy Mayotte, president and founder of the Institute of Student Loan Advisors, cautions that federal loan borrowers should avoid refinancing into private loans to retain important protections. The Consumer Financial Protection Bureau highlights the common misconception among borrowers regarding the loss of federal protections when refinancing.
Source: YAHOO