Refi'd with SoFi

[Snook_on_the_Line]

So I had a student loan that's been in default for years , to the point where it's aged off my credit reports years ago

so last year I decided it was time to finally pay it off 

so I did the fresh start thing and got it transferred to nelnet 

after making six months of payments and seeing them all go to unpaid interest I decided it was time for a refi

sofi refinanced me at 4.69% (nelnet was 6.9)

quick and easy online app (exp hp)

my payments went from 115 months remaining at $96 per month  

to 60 months at $144 

saving me a minimum  of  $2400

and cutting my repayment term in half 

I'm two months in and after throwing extra payments at it from my checking account bonuses as they come in, I'm 12% paid off already 

this is the best decision I've made in a while. 

I'm making payments and actually seeing my principal go down (along with the amount of interest that accrues daily)

if I can keep this pace I'll be paid off in less than two years 

[DakotaM]

Congrats! Very nice shaving more than 2% off the interest rate! 

[nortc]

Congrats on getting that sorted. One thing worth knowing since you went through SoFi: if any of those were federal loans before refinancing, you are no longer eligible for RAP (Repayment Assistance Plan) which launches July 1, 2026. Private refi trades federal protections for a lower rate. For anyone on the fence about refinancing federal loans right now, the RAP math might be worth running first — depending on income and balance, RAP payments can end up lower than a refinanced fixed rate.