Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.
When you refinance student loan rates, you take out a new loan, usually with a lower interest rate, to pay off your existing student loans. You then make one monthly payment on your student loans to the lender of the consolidation loan. You can choose to refinance student loan rates for both federal and private student loans.
