Rates dropped a few times this year, never hurts to check! Originally I had a few from 8-10% when I graduated, about two years ago I consolidated most of them into one for 7.65% with the same local lender.
I just refinanced again with SoFi again for 5.11%, have saved thousands, have a much lower monthly payment, and still plan on paying them off around the same time (I do pay 10% over the minimum monthly payment).
Just remember there's an end :)
Don't Forget to Check Rates on Refinancing Private Loans
byu/Taymyr inStudentLoans
Posted by Taymyr
1 Comment
Not to be a dork, but 7.65 is pretty high right? I just did a refi through Earnest and got 4.6% for 11 year paydown. My previous avg was 5.8%. So saved 1.2%