LeatherRebel5150 | 1,056 Posted April 19, 2021 Share Posted April 19, 2021 Im going to be looking at refinancing my student loans and have never gone through a refinancing of any kind before. Anyone have any experience with this? Any particular companies to check/avoid? Anything specific to be on the look out for? Any and all advice appreciated, thanks. Link to comment Share on other sites More sharing options...
phart010 | 1,707 Posted April 19, 2021 Share Posted April 19, 2021 Are they subsidized or unsubsidized? Just asking because I think it’s better to not refi subsidized loans as there are benefits in the terms that you’ll lose when a new lender buys the old loan Link to comment Share on other sites More sharing options...
LeatherRebel5150 | 1,056 Posted April 19, 2021 Author Share Posted April 19, 2021 35 minutes ago, phart010 said: Are they subsidized or unsubsidized? Just asking because I think it’s better to not refi subsidized loans as there are benefits in the terms that you’ll lose when a new lender buys the old loan Non subsidized private loans Link to comment Share on other sites More sharing options...
VegHead | 127 Posted April 20, 2021 Share Posted April 20, 2021 My partner and I refinanced both of our college loans in early 2020. We used SoFi/MOHELA to do it, and aside from consolidating various lenders into a single payment for each of us, we also got very good interest rates. We both took 5-year terms, but there were other options. Link to comment Share on other sites More sharing options...
Californication | 1,477 Posted April 20, 2021 Share Posted April 20, 2021 (edited) I've been thinking about refinancing because the low interest rates, but with the Biden administration under constant pressure about getting rid of publicly owned student debt, I am not going to take the risk of refinancing atm. Edited April 20, 2021 by Californication 2 Link to comment Share on other sites More sharing options...
JamesRobot | 5,800 Events Team · Posted April 20, 2021 Share Posted April 20, 2021 (edited) Similar to @VegHead, I consolidated/refinanced in 2019 through Laurel Road/Mohela for a 5 year term. Looked at SoFi and a couple others. Laurel Road gave me the best rate for the payments I wanted to make. Stellar customer service from their end. Nelnet fucked up and returned the initial payoff and gave me some fierce runaround but LR did everything they could to get it corrected. Edited April 20, 2021 by JamesRobot 1 Link to comment Share on other sites More sharing options...
LeatherRebel5150 | 1,056 Posted April 20, 2021 Author Share Posted April 20, 2021 9 hours ago, Californication said: I've been thinking about refinancing because the low interest rates, but with the Biden administration under constant pressure about getting rid of publicly owned student debt, I am not going to take the risk of refinancing atm. I have federal loans too that Im not going to refinance for that reason. But from what I understand whatever he does wouldn’t affect the private loans to @JamesRobotand @VegHeaddid you guys refinance federal loans? because I think only my federal loans show up on Mohela paperwork. Link to comment Share on other sites More sharing options...
VegHead | 127 Posted April 20, 2021 Share Posted April 20, 2021 I had a mix of federal and private. I was able to consolidate them all into one. Link to comment Share on other sites More sharing options...
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