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Worth Refinancing?- And where?

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

Worth Refinancing?- And where?

Total balance $19,115.XX


Loan 1) $908 balance - 3.15%

Loan 2) $1973.03 balance - 6.55%

Loan 3) $1234.11 balance - 3.15%

Loan 4) $3216.45 balance - 6.55%

Loan 5) $1900.72 balance- 3.610%

Loan 6) $4011.02 balance - 3.610%

Loan 7) $1007.87 balance - 4.410%

Loan 8) $4863.76 balance - 4.410%


I am looking into refinancing my student loan's, I have been paying on them for approximately three year's, and estimated maturity date is 2025. Ideally I would like to pay these off in the next few year's, I do have the cash to pay them off in full. However I am eyeing an investment oppurtunity and would like to keep my cash at the moment. Does refinancing make sense in my situation (above % rates are after a .25% discount for auto-pay) given that most of the rates aside from two of the loan's are in the 3-4% range? Scores are high 700's-low 800's depending on bureau/model.


I have also thought about knocking out the smaller balances with my bonus checks as I get them, or knocking out the higher APR loan's first.


I need some guidance and opinion's on this matter, and more importantly, what financial institution's are respectable/offer the best rates for SL refi's?



AMEX BCE ($39,500) CITI AAdvantage ($20,500) Region's Platinum Card ($14,400) Discover IT ($23,000) Macy's ($7,000) Chase FU ($10,000) Barclay's Aviator ($22,000) TU:778 EX: 781 EQ:791
Message 1 of 3
Frequent Contributor

Re: Worth Refinancing?- And where?

If you can get a better APR, Take it. No institutions to offer, but 54k in SL's and rate shopping. I'll return with suggestions if I find something worth sharing.

FICOs: EQ - 731 / TU - 737 / EX - 727
Garden: 6/1/19 / U 6%
Profile: Aaoa - 4.6y / Aooa - 13y / Aoya - 1m
"An investment in knowledge pays the best interest." - BF
Message 2 of 3
Frequent Contributor

Re: Worth Refinancing?- And where?

I'm pretty sure you can check on lender's websites to get an idea of what rate they can offer you without a hp. I checked a few, but didn't get real far as most required me to add a co-signer (income is <40,000). I ended up refinancing with Earnest as they looked at other things (amount in savings, stocks, and retirement accounts). The interest rate they came up with is the same rate they officially offered after I submitted an app with a hp. And keep in mind that you don't have to refinance all of your loans. If you can only get a rate that's better than half of your loans, then only refi those.
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