Refinancing Your Student Loans? 4 Things You Have to Understand About Interest Rates First.
The three-and-a-half-year repayment and interest pause on federal student loans is officially over. Interest started accumulating on Sept. 1, and most federal student loan borrowers will have a payment due at some point in October.
There are several private companies that offer student loan refinancing, and some might offer better interest rates than you're paying on your federal student loans -- even in the relatively high-interest environment we're in. But before you seriously consider refinancing your student loans, here are a few things about student loan interest rates you need to keep in mind.
This isn't just important for student loans but is an important financial concept to understand for all adults. When you're buying a house for example, the difference between APR and interest rates is very important when applying for a mortgage.
Source Fool.com
