Watch a short video on the Mint.com Web site on how to set up a Mint account. Explore the
Website to determine who funds the program. Read one or more of the personal finance
blogs and write a two-page essay on what you learned from the Web site and blog(s).

Answer preview

The fourth step in refinancing a student loan is to beware of the variable and fixed-rate terms. A fixed-rate requires the debtor to pay the same amount of the loan every month. However, a variable –rate is beneficial because it allows changes in the amount to be paid based on economic fluctuations. It will enable an individual not to make drastic changes in spending when one loses their income source. Lastly, the blog advises on regularly checking interest rates on student loans (Kumok, 2020). The rates are likely to change due to factors such as improvement in credit scores. Effective refinancing of student loans helps boost the overall credit score and offers a more relaxed schedule that best fits the financial budget.

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