Student Loans - Low Interest Rate Refinancing Information
Student loan refinancing can be the answer to consolidating your college loan debt. Refinancing is frequently done by federal government-backed state loan agencies. In the past several decades, as the college loan industry grew in the mid-1970s and early 1980s, several states created these agencies to issue supplemental private loans to students as a way to provide financial aid to those pursuing higher education. Federal student loans are federally backed by the United States government and are issued at a competitive interest rate. The interest rate on federal student loans varies widely from school to school, depending upon the state or federal government that issues the federal student loan. By consolidating your college loan debt into one, fixed monthly payment, you can pay your debt off over a longer period of time. You will be able to pay your student loans on a more even basis, as well as eliminate a lot of the interest you have accumulated over the years, since fe...