Time to refinance your college loans?

According to the Wall Street Journal, banks, credit unions and other lenders are more willing to refinance student loans than they have been.  In addition, Senator Elizabeth Warren (D-Mass) says that low interest rates make this a good time to refinance; so she is introducing a bill that would allow millions of borrowers to refinance both federal and private student loans into federal loans.

You can wait to see if Warren’s bill will pass, or you can check with banks or other private lending firms  to see what they can do.  For example, the WSJ says a firm called CommonBond in NYC reduced the loan rate for one borrower from 8% to 5.99% by refinancing.

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