Anyone have any advice? I have about 64k left to pay and I havent refinanced my student loans since I took them out. My goal is to lower my monthly as much as possible. I’ve had a couple people recommend using SoFi but just wanted to get your opinions. TC: 240
I refinanced 100k through SoFi. At the time they were the only lender that recognized the school I went to. My credit wasn't great and I did the flat rate interest. They have variable which they promoted to be lower (2.5%). I didn't go for that and got hit with a 6%. (Which was lower than what I originally took it out for. 😭 I haven't ever had any issues with them as a lender. I've done a few personal loans and was even looking at some investment accounts.
First Republic . Their rates are consistently one of the lowest around. I think I got 1.95% for 5 years.
+1 to First Republic
I refinanced all of my wife's and my students loans through Wells Fargo. They were one of the very few big banks that would do it. They also refinanced both federal and private loans which few are willing to do. Not sure if they were the lowest possible rate (although by no means bad) but the fact that they were able to refinance everything into a single monthly payment was what I needed
I did mine with sofi, got 3.5 rate (originally had 6.5). But it’s been a few years...
Sofi requires a credit score of 660 to refi, but I had a good experience with them in 2013
First Republic for sure
I’ll offer you a micro loan 4%apy