Can I refinance my student loans with my bank since interest rates are low?

Question by dl204612000: Can I refinance my student loans with my bank since interest rates are low?
I have ~12,700@~7% and 12,500@5% in student loans. Can I refinance with my bank? Should I?

Best answer:

Answer by missypooh 7
yes, my bank have a special loan program for school loans. if you already deal with a bank and in good standing, you should speak to someone about refinancing those school loans to take advantage of the low interest rates.

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One thought on “Can I refinance my student loans with my bank since interest rates are low?”

  1. Student loans are covered under a government program in that they are guaranteed from the banks perspective. If the bank will refinance a “student loan” you will pay almost the same rate you are now. If you go to a bank to refinance it outside of a student loan program (which would be awesome because if you default, which I don’t endorse, you are not followed by the debt if you file bankruptcy if it were a student loan) you have to think about it from a bankers perspective…for them it is basically a $ 25,200 unsecured loan. Most unsecured loans carry really high rates like 10 to 20 percent. Just something to think about….

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