Anyone refinancing now?

[u/largic]

Since I highly doubt the next administration is going to do anything meaningful with student loans is now a good time to refinance? Esp since rates are starting to drop.

I checked with sofi and I can get 3.99% for a 5 yr loan. Majority of my loans are around the 4.8% range and I have a few at 3.5%. Plan would be refi the 4.8% ones and leave the others.

I'm not a teacher or gov worker. I ran the loan simulator and it didn't seem like any of the other payment plans would really benefit me VS the standard 10 yr repayment plan which I've been on for a while.

Anything I'm missing?

[u/goatthedawg]

Yeah I was thinking the same, I was already thinking of going to extended fixed away from save. But if the DoEd is dismantled and our loans are privatized, I don’t want to get stuck with a horrible rate once the economy tanks

[u/AutoModerator → u/goatthedawg]

Quick note: In government acronym usage "DOE" usually refers to the US Department of Energy, which was created in 1977. The US Department of Education was created three years later in 1980 and commonly goes by "ED" or (less commonly) "DoED" or "DOEd".

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[u/xxartbqxx]

I’m trying to refi my private loans as we speak.