Key factsCustom Choice student loans are best for upperclassmen ... You’ll have a harder time finding a private student loan from a bank, credit union or online lender if you have bad credit.

But keep in mind that refinanced student loans are always issued by private student loan lenders—so if you originally had a federal student loan, refinancing means you'll lose some key benefits.

Stephanie is a freelance writer and contributor with over a decade of experience in the personal finance field. While she covers a variety of topics, her expertise centers around loans, insurance ...