I have about 41k of student loan debt, it was about 50k two months ago and im aggressively trying to pay them down.
I was able to get a SoFi reconsolidate offer at 5.25% (most of my loans are at 6.8 now, and one is at 5.65) - which was higher than i expected, considering I have a 790 credit. Regardless, I will save about $1500 over the course of the loan if I refinance.
HOwever... I am really scared of doing so. If you do, you lose all ability to do income based repayment, so if I lose my job or have an emergency during the next 1.5 years, I could really slide backwards and quickly start wracking up debt or get sued/lose everything.
Anyone taken a similar plunge? What are your thoughts?
Submitted March 07, 2017 at 07:36PM by tyrspawn http://ift.tt/2m02P45
