I am currently in the SAVE program, but as we all know that is ending. I have a range of interest rates from 4.3%-7.08%. I looked into refinancing with sofi. Problem is we are trying to buy a house next year and in the process of selling my husband’s co-op. Obviously depending on what we sell it for will depend on how much more we need to save. Last year my husband and I made about 350,000. The realtor thinks we can get between 250-300,000 for it. We will be in putting it on the market soon. He has about 136,000 left to pay on it. We currently have about 30,000 saved for the house. I ideally would like 200,000 in cash prior to purchasing. We have more in other accounts we can use, but would prefer not to. My question is… do I refinance for a longer term with little higher interest rate (5.3%) while we are buying a house and then refinance to lower interest rate (hopefully) once the house is bought ? Or do I do a 7 year term to get the interest rate in the 4% range? Part of me just wants to be done with the loans, but I also need to be realistic. Thanks for your help!

    Student loans should I refinance?
    byu/Organic_Double1480 inStudentLoans



    Posted by Organic_Double1480

    1 Comment

    1. TuscaroraBeach on

      I don’t see any value in refinancing for a longer term at the cost of a higher rate. Have you looked at other repayment plans?

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