Your strategy will depend on if they are federal or private loans and how aggressively you can pay them off.
An auto refinance could save you hundreds of dollars, but its not for everyone. If you find yourself in one or more of these situations, it could be a good idea.
Refinancing a personal loan could save you money on interest and help you repay your loan faster.
4 Types of Loans You Can Refinance: You often hear about refinancing to get a lower...
You might find it difficult to qualify for student loan refinancing if your income is low. But options exist that can help you meet this lender requirement.
Homeowners often refinance mortgages for better rates or renovation funds. Similarly, business owners can benefit from refinancing small business loans.
Consider these things as you decide whether to change the terms of your loan via a refinance or loan modification.