 TITLE: Can You Refinance a Student Loan to a Term Longer Than 20 Years? CONTENT: Other Ways to Get Longer Student Loans\n--------------------------------------\nRefinancing may not be right for you if you're looking for a longer term because you want, or need, a lower monthly payment. Your income may not meet refinancing lenders' requirements. You may be better off not refinancing federal loans in particular so you can take advantage of their benefits for struggling borrowers.\nThese benefits include income-driven repayment plans, which lower monthly payments to a percentage of your income. Some income-driven plans extend your loan term to 25 years—and they all offer forgiveness on the remaining balance.\nYou may also wish to consolidate your federal student loans, which provides a single monthly payment, like refinancing, and a loan term of up to 30 years depending on your balance. But you'll pay more in interest if you take longer to repay a federal consolidation loan, and you won't receive forgiveness when your loan term is up. Consolidation is most helpful if you need to use it to qualify certain loan types for:\n*   An income-driven repayment plan\n*   The Public Service Loan Forgiveness program, which offers tax-free federal loan forgiveness after 120 monthly payments to certain public service workers\nTake care when considering refinancing student loans to a longer than 20-year term. You may not see the interest savings that make refinancing worthwhile. Seeking a longer term might mean it's time to consider alternatives that make your loans more affordable instead. END