Discover plans to start refinancing student loans later this year, though CEO David Nelms acknowledges that many borrowers are already paying low rates. "Frankly in a lot of cases, there’s not a huge incentive to refinance," he says.

Discover to Start Refinancing Student Loans

The Riverwoods, Ill., company is the second large private student lender in two weeks to announce plans to enter the long-moribund refinancing market.

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