College refinancing options open up for parent PLUS loans

22856641_SAParents who borrowed to put their kids through college now have several options to refinance their federal PLUS loans, including, in some cases, the ability to transfer their debt to those children.

The situation is a sharp turnaround from the period after the financial crisis, when private lenders fled the student loan market and few borrowers were able to refinance their debt to take advantage of lower rates.

Lending began to thaw in 2012 when a few start-ups, credit unions and banks began offering refinancing to student borrowers, said Andy Josuweit, chief executive officer of education loan information site Student Loan Hero.

In my latest for Reuters, a look at which lenders have added PLUS refinancing.

And in my latest for CBS Moneywatch, a look at “card cracking” scams that are taking over social media.

Thursday’s need-to-know money news

321562-data-breachesToday’s top story: Health insurer CareFirst is hit with a massive data breach. Also in the news: How to dive into the investment pool, when you shouldn’t use a credit card, and identity theft facts that will terrify you.

1.1 Million User Records Stolen From Health Insurer CareFirst
Another day, another data breach.

5 Tips First-Time Investors Need to Know
Jumping into the investment pool.

3 Times You Shouldn’t Use a Credit Card
Using your card wisely.

Are you susceptible to a ‘cracking card’ scam?
How to safeguard your cards.

5 Identity Theft Facts That Will Terrify You
Fear can be a good thing.