Finally Refinanced SL's

[beefjerky]

Well, I did it. For years I've been saying I'm going to refinance and every time a thread about it pops up I go and research and inevitably something annoys me (they need forty years of pay stubs, etc.) and I stop.

So, I read an article about credible which will compare lenders and give advice on pros and cons. Well, I did it and ended up refinancing with SoFi (which I had tried before and their rate was crap) for 3.88%, 7 years fixed rate. I had approx 40K left from my PhD and this will get me done about the time my oldest son is a junior in college, sigh.

It's done, I'm saving money, and I'm happy lol. If anyone is still waiting and on the fence it took me about 15 minutes to get everything done and was super easy. I started the process last Weds and all my loans will be paid by SoFi tomorrow. Shameless disclosure *** I have a referral link if anyone is interested, it gives you $100 if you refi with them.

[maloney]

Congratulations!

[Deleted]

Congrats! I was really fortunate and got a great rate on my SL from the get-go (2.49%) but it still took me until this past October to finally get them paid off and my oldest is 24 y/o LOL

[jlt19]

Congrats! 

I've thought about doing this since my grad loans are at 6%, but I actually haven't graduated yet, so I'm not currently paying. I think I'll revisit once my grace period ends though for sure!

[brooke77]

Congrats! It took me far too long to refi too. I had horrible rates (7-8%) and refi’d a couple years ago to half that with a shorter term. I’m hoping to be done in less than 5 years.

SLs suck.

[Chrysanthemum]

This needs to be something we do for my H’s grad school loans. Besides credible, does anyone have a good recommendation for how to go about this?