Refinance Private Loan as a Federal Loan

Can a person refinance private student loans as federal student loans?

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Bill's Answer: Bills.com Resident Expert

Unfortunately, no. A person can refinance federal student loans as private student loans, but the converse is not true. You are referring to the Public Service Loan Forgiveness (PSLF) program.

You did not ask, but I would strongly urge anyone contemplating refinancing a federal loan as a private loan not to do so. The repayment programs for federal loans are far more flexible. Also, if the debtor dies or becomes disabled a federal student loan will be forgiven.

I hope this information helps you Find. Learn & Save.

Best,

Bill

Bills.com

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