refinanced my private loans!

i had private loans through sallie mae while i was in college, which made my monthly payment nearly $1,000 a month. i had been paying on them for two years at that amount, with little change. i had a variable rate at sallie mae too. i had tried refinancing before, but always told no despite having a good credit score (720+).

i applied for refinancing at elfi over the weekend, and i was approved on monday! my payment is $500 a month, much more doable than my previous payment amount and i have a fixed rate. payoff is the ultimate goal, but right now i’m glad to not have $1000 a month going to student loans. i felt trapped with sallie mae.

just wanted to share how happy and excited i am about my payment being lower and having the room to actually save money!