Risk Management

We handle coins on virtually a daily basis. We talk about their worth, and collectors like us discuss their designs in great detail. But unless the coin is some precious metal we rarely investigate what metals make up the coin and why they were used. So I thought I would.

Can we use any metal?

Actually, no. We have to remember that coins are the physical and practical manifestation of money. We handle them, store them and exchange them on a very regular basis. So coins must have some fundamental properties

Coins must be safe to touch.

We can’t have radioactive coins or made from material that would be toxic to humans.

Coins need to be durable.

We would like coins to have a long life of 30 years of more. The metal used must be fairly hard wearing and not decompose due to the constant handling of humans or from the weather. Coins that would rust quickly are no use to us. So the metal needs to have high wear resistance and anti-corrosive properties.

Coins need to be easy to manufacture.

We need to have tens of millions (or more) of coins in circulation. We must be able to used efficient processes to manufacture this number. We use stamping and pressing so the metal need to be soft enough for use to use dies to do this.

The value of the metal must be less than the face value of the coin.

If we made pennies using gold they would disappear to the smelters as fast as they were minted and the country would be bankrupt!

It’s not always obvious as you may think, as conditions change with time. Pre-1992 British pennies were 97% copper with 2.5% Zinc plus 0.5% tin, an alloy known as Bronze. Twenty years later this meant there was 1.5 pence of copper in each penny.

So the range of metals suitable is limited and in most cases alloys of one or more metals are used.

Coin metals have changed over the years

To prevent the penny problem described above, from 1992 the British penny is actually copper-plated steel, consisting of 94% steel and only 6% copper.

America had a similar problem. Cents were made from copper (except during the War years when copper became scarce) but nowadays cents are copper plated zinc.

Silver was a popular material for circulating coins from very early days. In Britain before 1921 silver coins (like shillings, florins, halfcrowns) were 92.5% pure silver (sterling silver, the rest usually copper). This became 50% silver and by 1947 there was no actual silver in “silver” coins.

Cupronickel (75% copper, 25% nickel) became the popular choice to replace silver. Cupronickel is shiny like silver and highly resistant to corrosion in seawater. However, by 2011 the copper price was sufficient to move the lower denomination silver coins (5p, 10p) to use nickel-plated steel (94% steel, 6% nickel).

50 pence pieces are still Cupronickel (75% copper, 25% nickel), as are £5 coins (which replaced the 25p crown in 1990). For some reason, 20 pence coins are called Cupronickel but have a different ratio of 84% copper, 16% nickel.

As coins last much longer than banknotes, the One-Pound note was replaced with a one-pound circular coin introduced in 1984. To give it a gold-like colour the alloy was 70% copper, 24.5% zinc and 5.5% nickel.

Bi-metallic Coins

Bi-metallic Coins have been around for some time but not in the UK. There was a tin farthing with a copper plug in 1692 but for most purposes the £2 coin was a first.

The Two Pound (£2) coin is a bimetallic coin introduced in 1998 (although the first are dated 1997). The outer circle is Nickel-Brass (76% Copper, 20% Zinc, 4% Nickel) and the inner ring is Cupronickel (75% copper, 25% nickel).

Having different materials for outer and inner circle means that the outer circle can be harder then the inner circle, giving protection to the coin. It also makes the coin more difficult to duplicate as counterfeiting is an eternal problem with circulating coinage.

Unfortunately, coins are much easier to forge than banknotes. By 2014 it was estimated that 3% of the round pound coins were counterfeit and the Royal Mint redesigned the one-pound into a 12-sided bi-metallic coin with many built-in security features.

The new one-pound coin was launched in 2017. The outer ring is gold coloured nickel-brass (76% Copper, 20% Zinc, and 4% Nickel) and the inner ring is a silver coloured nickel-plated alloy. The Royal Mint struck 300 million of them!

Precious Metal Bullion and Proof Coins

UK gold coins are basically the gold Sovereign and the gold Britannia and their families.

Years ago the sovereign was a working coin that was often handled and as gold is a very soft metal copper was added to make the coin harder and more resistant to wear. The gold sovereign is 22 carat, which is 91.67% gold as in the traditional ratio of 11/12ths gold, 1/12th copper.

These days bullion coins are only lightly handled and proof versions are almost never touched, so the UK has gone with the trend and the gold Britannia is minted in 999.9 gold (99.99%).

Maundy Money are coins traditionally given out by the Monarch as a gift to the poor at Royal Maundy. The ceremony, which is associated with Christianity, is held on Maundy Thursday which is the day before Good Friday. The Maundy set consists of four coins, denominated one penny, two pence, three pence and four pence. The number of sets given out to each man and woman is equivalent to the age of the Monarch in years.

History

Royal Maundy probably dates back to the 13th Century. Maundy derives from mandatum which Jesus said meaning ‘that ye love one another’. It was the act of washing the feet of the poor and giving food and clothing to the poor. The Royal Families of the middle ages copied the ceremony as a way of showing humility.

By 1699 the Monarch opted to send a representative rather than attend themselves, and not long after the act of washing feet was abandoned. By the 19th century the Royals thought that giving money was more convenient than food and clothes and originally gave coins of the day but later gave specially made silver coins.

It was not until 1931 that King George V restarted the tradition that the Monarch attended in person. Queen Elizabeth almost always attends and has only missed a few ceremonies. The ceremony was traditionally in or near London (mainly Westminster Abbey) but in recent years has moved around the country at various Cathedrals such as Leicester, Sheffield, Manchester, York Minster and Armagh.

The coins used to be given to the poor but these days are given to people nominated for their work done in the local Church. So on (say) the Queen’s 90th birthday, she would give 90 sets to selected men and 90 sets to selected women. The coins would be issued in a leather purse; a white one contains the Maundy coins, and a red purse containing current coinage as an additional gift.

The Maundy Coins

The four coins are specially made: one penny, two pence, three pence and four pence. They are not the same coins as in circulation and are quite small (between 11.1 mm and 17.6 mm).

Since decimalisation these have been upgraded by law from penny to new penny. They are made from Stirling silver (92.5% silver) and although specifically made for this ceremony they are still legal tender. The design is virtually unchanged from 1822.

The reverse, which is a crowned numeral within an oak wreath, was created by Jean Baptiste Merlen back in 1822 and has only been altered slightly since then.

The obverse shows the head of the monarch as you would expect. However, if you look at the Queen Elizabeth obverse you can see that the portrait is the original portrait used from when she first issued coins; although the Queen has had about five portraits the original (by Mary Gillick) is still used.

Even back in Victorian days the recipients of Maundy money soon sold their sets for a premium, especially around the time of the Jubilee when Americans prized the souvenir. The purses could also fetch a handsome amount.

Besides the sets given out by the Monarch, many other sets are minted for official gifts and for collectors. These are issued in a case rather than a purse. Many were given to Mint workers or other officials. Maundy sets could be ordered from the bank until 1908, when 9,929 were minted in that year. Dealers scrambled for sets and sold them at high profit. This eventually got a little out of hand and the Mint cut back production heavily. In recent years the mintage numbers have been around 1600-1900 sets.

Here’s How To Invest In Gold

Are you currently wondering how to purchase gold? A lot of people want to invest, nonetheless they don’t realize how to begin. The simple truth is there are many techniques for getting started with investing in gold. Here are some of the more common ways to purchase gold, as well as the positives and negatives for each and tips.

1. Physical Gold

Undoubtedly, buying physical gold is one of the most frequent ways people spend money on gold. With regards to how to invest in gold, there are many things to understand about buying physical gold. Here’s a few:

How To Accomplish It

Buying psychical gold is actually simple as it is the best way it sounds. You acquire gold items, like jewelry, coins, collectibles and just about other things. The purpose of most investors is usually to hold onto their psychical gold after which sell it into a gold dealer or other kind of buyer.

People have a number of options in relation to where they may buy physical gold. They are able to purchase them at the store or online. Whenever they find the gold, they will have to store it whilst keeping it until they are ready to market it for a higher price. When gold prices increase, then investors can consider selling their pieces.

The Benefits

First pro is that physical gold can be a tangible asset, and history indicates that gold tends to increase in value as time goes by. Very few investments are tangible and also have a high probability of going up in price, even though the economy isn’t doing too well. If you want a great investment you can easily hold, see whilst keeping within your possession, then look no further than investing in physical gold.

Second pro is physical gold can not be hacked or erased. Nowadays, folks have countless assets that they can invest in and are generally held online. A gold piece with your hand doesn’t need the internet or any electricity to operate or anything like this. It really is a foolproof investment in relation to protecting it from hackers.

Your third advantage of buying physical gold is that you simply don’t have to be a professional. Perform quick research on the price tag on gold then research gold dealers. Then you can find the gold items you wish to keep and then sell them off when you’re ready. It’s as easy as that.

The Cons

First, buying psychical gold can be expensive. According to in which you purchase it from, you might want to pay commission fees. Even when you buy it coming from a private seller, you can bet how the gold will likely be expensive. If spending large amounts of cash upfront isn’t for you, then you might like to think twice about buying gold, but generally gold is generally definitely worth the investment.

Second con is storing the gold. It doesn’t matter what kind of gold pieces you get, if you purchased it directly, then you’re in charge of storing it. You should be careful with how its stored, otherwise you may well be putting your gold in danger of getting stolen, damaged and even lost.

The past major con that the physical gold, when stored by yourself, won’t gain interest. You must secure the gold up until you decide it’s a chance to sell it off. If you’re looking to gain a little bit of interest in your gold items, then buying physical gold and storing it all by yourself is probably not the best option.

Tips

Buying physical gold is quite easy. It’s also straightforward. Just be sure you need to do just as much research as is possible into gold dealers before deciding what type to do business with, and make sure you research current gold prices because you need to try to find good deals on gold pieces. This can all could be seen as commonsense advice, but trust us once we say it comes in handy when the time concerns purchase gold.

2. Gold Futures

Gold futures are contracts which were standardized and they are generally traded on specific exchanges. Gold futures allow investors to get a unique number of gold (for example 100 Troy ounces) at a price that has already been predetermine. However, the delivery transpires in a future date.

How To Buy Gold Futures

The first thing you need to do is open a brokerage account. You will find brokers that specifically cope with futures trading, so take some time when picking one. Next, you can trade gold futures and just how it functions is you’ll must deposit the absolute minimum money so that you can open a situation. When the price goes into the proper direction, then you’ll stand to generate a profit, but you’ll generate losses when it goes in an unacceptable direction.

The Benefits

First, you simply will not have to store anything. As previously mentioned, you have to find storage space when you purchase physical gold. With gold futures, this isn’t a challenge.

Secondly, lower amounts come to mind with golds future. During the time of making a deal, you’ll only be asked to pay a certain amount of cash. The others pays as soon as the agreement is signed.

Another great thing is there exists a good amount of liquidity. In addition to that, however, you can day trade gold futures. This means there’s a prospective to produce and withdrawal profits regularly.

The Cons

There’s only some cons. One includes that there is a major risk to trading anything, and gold is no different. Default risk can leave the most experienced traders inside the trenches.

Also, gold prices can greatly fluctuate daily. It is simple to gain money, but you can easily as easily lose it. Remember, the price of gold can be appealing at the time of signing the agreement, but they can drop as soon as delivery is made.

One third con is the volatile from the marketplace. One day the markets may be good and then the next it could crash. In no time, there may be a phase as soon as the markets don’t move much whatsoever.

Tips

Regarding tips, it’s all about opening a merchant account with a great broker. You can find dozens and many brokerage accounts, so compare as many as possible. Find one that will provide you with good advice on gold futures trading then one that doesn’t charge a number of fees. The greater number of brokers you compare, the more effective.

Also, research gold prices for a couple of weeks before making an investment in gold via futures. If the prices appears to be stable, then go ahead. If there’s an excessive amount of volatile from the markets for these couple of weeks, then consider waiting until everything grows more steady.

3. Gold ETFs

Gold ETFs are a fantastic replacement for gold futures. You won’t own contracts, but rather you’ll be buying shares of any ETF. In turn, you’ll be open to gold, hence why they may be called gold ETFs.

How To Do It

You may get a brokerage account via a broker that permits you to trade gold ETFs. Then you’ll be able to select the gold product you want to purchase. It’s as elementary as that.

The Pros

One of the best reasons for gold ETFs could it be acts like a hedge against inflation. Normally, this is the truth with a lot of gold-based investments. Should you own gold ETFs, then they are utilized to safeguard your assets up against the inflation and fluctuation of currencies. Gold is definitely a safe investment and if you buy the proper ETFs, then you’ll do your major favor.

Second, it is extremely an easy task to trade gold ETFs. You will be only required to invest in a single unit of gold, that is with regards to a gram of gold in weight. Furthermore, it is possible to trade ETFs via your ETF fund manager or even your stockbroker.

Third benefit is that you can take a look at stock exchanges and learn just how much gold is selling for. This can be done at any given time. If you believe prices are great, then go ahead and buy something, otherwise you can hold off until prices be a little more appealing.

Another benefit may be the tax side of things. The sole taxes you spend is either short or long term capital gains tax. Long term is gold that is held for any year or longer, while short-term is under a year.

The Cons

One con is the fact ETFs can be expensive. Actually, they could be more pricey than other styles of investing, but they are often more lucrative. It’s your decision to make a decision whether or not purchasing gold ETFs makes it worth while. That is actually the only major con related to buying gold ETFs.

Tips

If you can, consider investing large sums of capital or enter into the habit of trading regularly. The reason being ETFs tend to be profitable than other types of gold-investing. Basically you can end up building a lot if you are prepared to trade regularly or invest large sums of money.

Another helpful tip is usually to never choose a fund manager or ETF product since the fees are alone. Do a bit of research to learn precisely what the performance has looked like over the last few years. If everything looks good, then choose that fund, otherwise keep seeking another fund manager.

4. Purchase Gold Mining Businesses

This can be the best way it may sound. It requires purchasing mining businesses that mine gold. You happen to be essentially buying stocks into gold mining companies.

How To Make It Happen

You can get a stockbroker or investing firm. They may take your funds and invest it into gold companies of your choice. A different way to get it done would be to join an internet stock trading platform and spend money on gold businesses that are listed on the platform. You purchase a particular amount of shares and then sell them when you’ve made a profit.

The Pros

First, buying shares into gold mining companies is straightforward and thus is selling them. All that you do is purchase the amount of shares you would like then sell them off when you’re prepared to. Also, you may invest into several companies and increase your chances of making profits frequently.

Second, the retail price swings may be huge, but they do typically take awhile to take place. When you are patient, then you can definitely sell when these swings happen. Remember, in case a company is doing well and doing things right, then their stock could go up of course, if the price of gold is high too, then you might end up doing adequately.

Third, buying stocks is beginner-friendly. It doesn’t take a great deal of knowledge to shell out, nevertheless it usually takes some research into gold mining companies. Just do a great deal of research into several companies and discover what kind of financial reputation they already have prior to invest into them.

The Cons

The risk is about the high side because gold mining companies carry plenty of risk, that may cause their stock to lower, whether or not the price of gold is high. Also, remember that gold miners put themselves in danger and stuff they generally do also can impact the cost of the company’s stock. Investing in gold mining companies is as risky as buying almost every other type of stocks.

Tips

There’s only one really specific tip to remember. You need to research various stock trading platforms and make sure the ones you utilize have gold mining companies’ shares available. Better yet, research gold mining companies and create a set of them prior to search for stock trading platforms. Then you could find out if those platforms offer shares in those companies.

When applying for student loans, one of the most important things for you to consider is how you can get your loan approved in the fastest possible time.

Certainly, when you are just starting your study, these are the times when you have to be totally focused on the decisions you are making and this certainly includes the financial ones as well.

What is certain, is that you need to be de-stressed about your choices and helping to get your loan approved in the fastest time possible will certainly help in the de-stressing process.

Let’s look at few methods to help fast-track your finances and then let’s take a look at some methods you can help turn around the debt process and put some money back in your pocket.

Tips to Help Fast Track Your Loan

Standard Student Loan. This type of loan will give you funds almost straight away and the bonus is, that you won’t have to may repayments until after you have received your academic qualifications.
Cosigner. Having someone cosign your loan agreement will certainly speed up the approval process, certainly if your cosigner has a good credit score will also help. A cosigner can be a family member, friend or anyone who has faith in you.
Online. One of the ways to fast track your loan approval is to apply online and use the online application that the lender has available. Once your loan is approved, you will have access to the funds almost immediately.
Tips to Help You Generate a Passive Income
Blogging. This seems a bit cliché but people are making big dollars from simple blogs. Some of these blogs can cost $0 to set up and only require an hour or so a week for you to maintain them. Do a search for the ‘top ten bloggers’ and you will be amazed.
Kindle. Did you know that you can publish a book on the kindle platform in about 7 minutes? This system is so simple to use that many people are now starting to jump on board and self-publish micro-books (these are short books 10-30 pages that solve a specific problem).
Crowd-fund. This is perhaps one of the quickest ways to raise some fast capital that exists today short of winning the lottery. You can put up a short campaign on one of these sites so that ‘the crowd’ can donate to your cause. You can even get your own software and set up your own crowdfunding website in minutes.

Studying in a global university is an uphill task. With increasing admissions and other expenses, parents cannot guarantee the finance for their child’s higher education. Securing admission under this scenario requires money and time management too. The range of expenses include admission costs, hostel rent books and the tuition fee. Parents dream of a successful career, and therefore, nothing should come in way of pursuing the studies. Parents help to a great extent money wise, but even they have their limits. In this situation, students are offered an opportunity to take care of their expenses in the form of short term student loans. Availing the loan is fairly simple. A loan benefits by providing the funds to take care of their cost of education.

Advantage of the Student Loan

The loan is important to anyone looking forward to secure finance for their higher education. The acquired funds have capability of helping the students for further education. There are a few advantages to these loans listed here that will help the borrower make a sensible decision:

• Minimal Interest Rates

Before applying for any type of loan, people are cautious about the interest rates. Nobody wants to burden themselves with whopping interest rates that would result in non-repayment of the loan amount. Student loans are suggested by many brokers on competitive APRs and manageable terms of repayment. The borrowers have an option to consider all the available offers through a comprehensive online research and compare the prices. Only after proper research, the customer should approach the regulated broker.

• Flexible terms of repayment

Before countersigning the documents, applicant must clearly understand the terms and conditions that are being laid down. The intermediary will explain them to the borrower, if he is unable to understand. The repayment provisions are kept trouble-free. The payment amount is decided keeping in view the financial condition of the applicant. Sufficient time is provided to repay the borrowed money. Paying off the loan is reflected on the credit report, finally improving the credit score and establishing the credibility.

• No requirement of guarantor

When the individual applies for the loans online, there is no need to provide the guarantor. Adviser makes sure, the lender disburse the funds without putting forth the condition of arranging the guarantor. This saves a lot of time, as you do not need to search for the person, to act as your guarantor and support your application.

Student loans not only serve the purpose of providing quick funds for the education. These types of loans also assist in creating a positive credit history. The funds are not provided out for free. The short term student loans must be repaid when the borrower completes his or her education. Adequate time is provided for the payback.

After graduating, many people make paying off their loans one of their top priorities. Unfortunately, what people discover is that, as it often does, life will throw them curveballs, such as job loss, medical emergencies and divorce, which will force them to change their priorities. In such cases, paying off college debt can often end up at the bottom of people’s to-do lists. However, when people do this, what they often find out is that ignoring these debts is one of the worst things you can do. Depending on their loan’s interest rate, what was once a seemingly affordable expense has enough time to develop into an unaffordable debt.

How Can I Pay Off My Student Loans Quicker?

Whether you are hoping to find a way to vault paying off your loans back to the top of your to-do list or you are a new graduate hoping to knock out your school debt right out of the gate, here are a few tips to help you pay off your student loans sooner rather than later:

Avoid skipping payments – If you cannot afford your payments, do not just skip them. You should get in touch with your lender and speak with them about options, such as lowering your monthly payment amount or forbearance.

Make sure to read the fine print – You need to read your loan agreement, because knowing certain details before a problem arises could allow you enough time to contact your lender and fix the issue without incident. For example, if the interest rate on your loan rises, it can make your monthly payment more expensive. If you know ahead of time that your payment is about to increase to an amount you will not be able to afford, you may be able to get in touch with your lender and renegotiate the terms of your loan so that your payment remains affordable.

Treat student loan forgiveness like a myth – Aside from situations where a person was scammed by a private lender, generally, people must pay off their loans in full. If people think that they will not have to pay off their student loans, then they could allow their student loan debt to grow out of control. People can allow this to happen, because they believe it does not matter since they expect their loan to be forgiven eventually. However, once they figure out they are wrong, it can be too late.
Student Loan Debt Is an Issue That Is Not Going Away Anytime Soon

President Obama considered the student loan debt crisis such a pressing issue that as his time in the Oval Office was winding down, he continued to work to solve it. Before his administration left the White House, President Obama implemented protections that prevented debt collection companies from charging high fees on student loans in default.

Unfortunately, after taking office, President Trump undid many of President Obama’s student loan protections. As a result, many people are racing to not only pay off their student loans in full, but also to do so as quickly as possible.

More than 1.1 million Americans defaulted on their federal student loans for the first time last year. When you default on federal student loans, the consequences are severe and can affect several areas of your life. You may experience consequences that include:

Wage garnishment: The Department of Education can garnish up to 15 percent of your disposable pay. Unlike private collectors, the Department of Education does not need a judgment to garnish your income.
Your balance increases: Your remaining balance immediately becomes due once you default. Unpaid interest and collection fees may also be added to your balance. The latter is especially true for borrowers with FFEL loans.
Reduced credit score: Loan servicers will report you to the three credit agencies if your loans remain delinquent for too long. You are also reported to the three credit agencies after defaulting. This can significantly lower your credit score. Having a low credit score can make it more difficult to secure employment, housing or other lines of credit.
You lose eligibility for financial aid: You are not eligible for federal financial while your loans are in default. Defaulting on your loans may cause problems if you plan on returning to school.
You lose eligibility for repayment plans: One of the major benefits of most federal student loans is that you can take advantage of income-driven repayment plans. You lose these options after defaulting on your student loans. In addition, you also no longer qualify for economic hardship deferments or forbearance.
Can I Get My Student Loans Out of Default?
Depending on your situation, it may be possible to get your federal student loans out of default. Borrowers generally have two options available – the Education Department’s loan rehabilitation program or converting your loans into a Direct Consolidation Loan. Both options may have pros and cons that are dependent on your individual situation.

If you choose loan rehabilitation, you must make nine monthly payments within 20 days of the due date for 10 consecutive months. For Perkins Loans, the requirement is nine payments for nine consecutive months. You can only use the loan rehabilitation program once. Once your loans are taken out of default, you can qualify for helpful repayment programs. In addition, records of the default are removed from your credit report.

Your second option is to consolidate your defaulted loans into a Direct Consolidation Loan. This will consolidate your loans into a single loan with a fixed interest rate. By consolidating your loans, you can exit default within a period of weeks instead of months. However, you may pay more over the life of your loan if your prior interest rate was lower.

Are you thinking of applying for a student loan? If so, a promissory note will need to be signed. Basically, this is a contract. On the due date, you will have to pay the loan along with the amount of interest based on the terms and conditions. Often, students don’t think much before accepting the terms and conditions of the promissory note. If you have got a loan but you are finding it hard to pay it back, you can refinance your student loan. However, make sure you consider 4 important things before you go ahead and refinance it.

No financing from the federal government

Remember: it’s the congress that decides on the rate of interest for the federal student loans. Moreover, the rates of interest are set based on the law irrespective of how good your credit rating is. If you have lower credit score, the interest rate will be higher and vice versa.

It’s possible to use a private loan to refinance a student loan. However, keep in mind that the same can’t be true about refinancing a federal loan into another federal loan.

Know the difference between refinancing and consolidation

Some borrowers believe that the consolidation of their loans is a good way of reducing the rate of interest just like refinancing. This is a common confusion as the options are quite similar. You get a new loan accepting new terms to replace a loan you took earlier. However, it’s important to keep in mind that you can’t reduce your interest rate by consolidating a federal loan.

However, you can enjoy some benefits with consolidation. For instance, you are free to opt for a service you like. Moreover, you can qualify for other forgiveness and repayment options.

Refinancing and your loan terms

Remember: refinancing will made changes to the terms of your loan. For instance, your interest rate may come down based on your cosigner or credit rating. The reduction in the rate of interest is the main thing that entices students.

As said earlier, the new loan will feature new terms and conditions. What this means is that the rate of interest may go up.

If you are finding it hard to repay your loan, the protection that come with federal students loans can help you. For instance, you can try repayment plans that reduce the payments.

Other methods

You can use other ways to cut down on the interest. Moreover, if you want to get federal student loans, you can use other options to reduce your interest rate. Therefore, it’s a good idea to give them a go. Some servicers may choose to reduce the interest rate provided you register in automatic payments.

You may also choose to pay an additional amount each month. As far as prepayment goes, federal student loans have no penalty. If you pay back faster, your overall interest will come down.

So, if you are going to refinance your federal student loan, we suggest that you consider these 4 things. They will help you get through the process more easily. Hope this will help.