This depends on your situation. If you have student loans and want to save money on interest by refinancing, you need to first evaluate your current financial situation. What benefits and protections will you lose by refinancing? Confirm that the pros outweigh the cons before jumping ship. These savings can be worth it for some borrowers, but not all.
If you have private student loans, then student loan refinancing probably makes sense. Private student loans are more likely to have higher interest rates and don’t qualify for student loan forgiveness or federal repayment plans (Forbes).
However, if you’re considering refinancing your federal student loans, then please research what protections you will lose to determine if it’s worth the risk. For borrowers who have a steady job, heavy cash reserves, and can pay off their debt in a short period of time - refinancing may make more sense. As a result, their interest payments would lower so they can pay off their debt faster. CNBC demonstrates what makes student loan refinancing so successful through real stories, but they also make it clear that this can be a major risk for federal student loan borrowers.