Endnotes and citations can be found in the PDF and Scribd variations.
Rates of interest are in historic lows and everyone—homeowners, corporations, as well as state and regional governments—are refinancing their debts. Refinancing enables the debtor to displace their current financial obligation by having a new loan with reduced interest levels and better terms. Which means that borrowers can lower their monthly obligations, which frees up earnings for acquisitions and creates ripple effects through the entire economy. There was one group that is critical nevertheless, that is getting left out within the refinancing growth: pupils and families whom sign up for loans to fund advanced schooling.
Relating to a current Lumina Foundation poll, the majority of respondents without having a certification or level beyond senior high school said if they did have such education that they would feel more secure in both their job and their financial future.