 TITLE: Is Now a Good Time to Refinance Your Student Loans? CONTENT: What are the Pros and Cons of Refinancing Your Student Loans?\n-------------------------------------------------------------\nLike any financial move, there are pros and cons to refinancing your student loans. Here are the advantages and disadvantages:\n### Pros\n*   Refinancing may lower your interest rate and monthly payment.\n*   There are usually no application, origination or prepayment penalty fees.\n*   Some private lenders offer borrower benefits, such as forbearance, if you face financial hardship or payment deferment if you decide to go back to school.\n### Cons\n*   You likely need a high credit score to qualify for a rate that makes refinancing worthwhile.\n*   Refinancing federal student loans will make you ineligible for generous federal loan benefits such as income-driven repayment and grace periods.\n*   If the government decides to forgive student debt, private loans may not be eligible. END