The Financial Planner’s Guide to Student Loan Refinancing

Whether you’re a fee-based financial planner, investment advisor or other financial professional, chances are you’ve seen a uptick in clients dealing with student loans.

From the parents who take on debt to fund their kids’ education, to the lawyers, doctors, nurses and other professionals shouldering high interest rate grad school loans, an increasing number of clients are looking for guidance on how to balance a large debt load with rapidly evolving financial goals. How much should they allocate toward loan repayment versus retirement savings and investments? Should they put off buying a home until their loans are paid off? Will prepaying loans adversely affect their credit?

For some of these clients, student loan refinancing can be a great solution – and can free up money for other financial objectives. But it’s not for everyone. That’s why we put together the Financial Planner’s Guide to Student Loan Refinancing  – to help FPs have this conversation with their clients.

The guide covers FAQs around topics like:

*General refinancing criteria

*Federal loan refinancing considerations

*Direct Loan Consolidation vs. private student loan refinancing

*Evaluating a refinance lender