Private student loans might not have the flexibility in terms of repayment that federal loans do, however, with federal loans you can’t refinance them without losing that flexibility. No, private student loans, unlike federal student loans, can be refinanced without losing flexibility. In fact, depending on who you refinance with, might give you some flexibility. Also, if you’re doing it right you will actually save money since you will be repaying the loan at a lower interest rate. Read the Full Answer Here