 TITLE: Which Loans Should I Refinance Right Now? CONTENT: Think About Refinancing Private Student Loans\n---------------------------------------------\nWhen it comes to student loans, there's more at play than the interest rate and monthly payment. Many borrowers have federal student loans, which come with special repayment and forgiveness programs, including paused payments and 0% interest on federally held loans in response to the coronavirus pandemic.\nFederal student loans are also eligible for income-driven repayment plans, which you can switch to for free and can lead to lower payments based on your income. But if you refinance your student loans, you'll need to do so with a private student loan.\nPrivate lenders may offer some benefits, but your loans will no longer be eligible for the federal repayment, forgiveness or special programs. Refinancing may be a good idea if you can lower your interest rate and save money, but you may want to build your emergency fund and feel confident about your employment before refinancing. END