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Student loan refi rates - is this really the best I can do?

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Established Member

Student loan refi rates - is this really the best I can do?

Bit of background: I currently have about $70k of student loan debt, which I have consolidated at a 5.5% rate (that's with auto-pay discount). Right now I'm on a fixed rate repayment plan for the next 27 years, which is about $420/month, but I'm aggressively trying to pay it down and giving almost double that every month.

 

Obviously I want to pay this down as fast as I can, so I was looking into refi programs. So far I've look at SoFi, Earnest, Citizens Bank, and Laurel Road. But all the rates they quote are more than the 5.5% I'm paying now, unless I do variable (seems like a bad idea) or a 5 year term (payment would be too high).

 

Are there any other options I'm not considering? I think I have good credit (high 770s) and would love to get my rate down into the 4% range.

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2 REPLIES
Member

Re: Student loan refi rates - is this really the best I can do?

I just refinanced at 2.x percent through first republic Bank. You need to live about 40 miles from one of their branches to be able to do it. PM me and I can give you some more info. There is a referral bonus if you list me as your referrer.

I also looked at many other options, but this is the lowest interest rate that I could find. You need to have a good credit score, which you have.
Message 2 of 3
Established Member

Re: Student loan refi rates - is this really the best I can do?

Wow! That is really good... Sadly I'm in Texas, and it looks like all of their branches are in California...

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