Hello, Sabii! Thank you once again for your help.
I appreciate your feedback; are you saying that there are many individuals who regret their decision to not stay with the federal student loans (and refinance to private)? If so, I will consider staying with my federal loan but do my research, possibly add more to the principal. I will use the repayment estimator and watch out for over-paid interest.
Unfortunately, PSLF is something that does not qualify in my case due to income.
Again, I truly appreciate your deep insight and guidance, Sabii. I wish you and yours a Happy New Year.
Hello. All servicers are not bad. You will find some helpful and not so helpful reps pretty much in any business. They pretty much answer the questions you ask. Not offer all the information . Very seldom do they go over everything because to be honest it takes too much time and can sometimes leave the caller confused with so much information. Even if you are able to get a lower rate I would suggest not refinancing federal loans to private. Like Sabii said you do lose protections and if for some reason you ever have a problem with payments or need some relief down the line there aren't very many options at all. If I went into all the cons it will be a very long post and an overload of information. Lol. A lot of information you can find if you just do a google search. But the short answer is I personally don't think it's a good idea
I switched to nelnet a couple years ago for my student loans, and nelnet has been extremely good to me. Their level of customer service is a million miles away from the last three lenders I used.