Is Now a Good Time to Refinance Your Student Loans?

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.8 • 1.6K Ratings

🗓️ 5 October 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Student-loan borrowers resuming payments this month might consider refinancing their loan to rein in costs. Wall Street Journal reporter Gabriel T. Rubin joins host J.R. Whalen to explain why financial experts suggest borrowers should think twice before refinancing. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Sam Bingman Freed, the founder of CryptoGiant FTX,
0:03.0	promised to give away his fortune.
0:04.8	But then, everything fell apart.
0:06.6	Sam, are you an ethical person?
0:08.8	I think I've tried as hard as I can to be one.
0:11.9	He's been accused of stealing billions of dollars from customers and investors.
0:16.0	Is there anything you would want to say to Sam if you could?
0:19.0	Give me my f***ing money back.
0:20.8	Now he faces the jury.
0:23.2	From the journal, this is the trial of crypto's golden boy.
0:26.4	Find it in journal feed-ons platify or wherever you get your podcasts.
0:32.9	Here's your money briefing for Thursday, October 5th.
0:35.8	I'm JR Whalen for the Wall Street Journal.
0:40.8	From any student loan borrowers, the resumption of payments this month
0:44.5	couldn't come at a worse time.
0:46.4	The prices of food, rent, and gas are significantly higher than when payments were paused three
0:52.0	years ago. To help make their loans more manageable,
0:54.9	borrowers might look to refinancing as an option.
0:57.8	You can either change the rate on your loan,
1:00.1	hopefully to make it lower, or you can change the term of that loan,
1:04.7	which means that if you would prefer to make smaller monthly payments over a longer period of time,
1:09.9	you can choose to do that.
	...

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