Question for So-FI/DRB Refinancers

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
User avatar
Anastasia Dee Dualla
Posts: 1165
Joined: Wed Nov 12, 2008 2:03 am

Question for So-FI/DRB Refinancers

Postby Anastasia Dee Dualla » Mon Apr 06, 2015 7:36 pm

I didn't want to muddy up the student loan (actual numbers) thread with this question but for those of you who re-financed for sub 3.0% rate; are you all just dumping money into the loans to get rid of them or did you consider easing up on repayments to push money into some taxable accounts? I realize some threads sort of address this question, but they are usually arguing with folks who also have $100k of 5.8% interest loans.
Last edited by Anastasia Dee Dualla on Mon Apr 06, 2015 7:47 pm, edited 1 time in total.

User avatar
Desert Fox
Progressively loosing literacy
Posts: 14403
Joined: Thu Sep 04, 2014 4:34 pm

Re: Question for those who re-financed with So-FI/DRB

Postby Desert Fox » Mon Apr 06, 2015 7:41 pm

I eased up on paying it down real fast. But I'm considering speeding back up because if I have to take a lower paying job 2,400 a month is a huge cashflow issue. I want to get my total below 100k and then I'll slow down again.

thsmthcrmnl
Posts: 247
Joined: Fri Dec 25, 2009 3:07 am

Re: Question for those who re-financed with So-FI/DRB

Postby thsmthcrmnl » Mon Apr 06, 2015 7:42 pm

Anastasia Dee Dualla wrote:I didn't want to muddy up the student loan (actual numbers) thread with this question but for those of you who re-financed for sub 3.0% rate; are you all just dumping money into the loans to get rid of them or did you consider easing up on repayments to push money into some taxable accounts? I realize some threads sort of address this question, but they are usually arguing with folks who also have $100k of 5.8% interest loans.


With interest rates where they are, I make minimum payments.

User avatar
Anastasia Dee Dualla
Posts: 1165
Joined: Wed Nov 12, 2008 2:03 am

Re: Question for those who re-financed with So-FI/DRB

Postby Anastasia Dee Dualla » Mon Apr 06, 2015 7:45 pm

Desert Fox wrote:I eased up on paying it down real fast. But I'm considering speeding back up because if I have to take a lower paying job 2,400 a month is a huge cashflow issue. I want to get my total below 100k and then I'll slow down again.


Hey! Long time no chat. Thanks for the info. I had a fairly small debt load to begin with but I'm contemplating dumping my savings and calling it a day. Haven't made a firm decision on this yet.

User avatar
Anastasia Dee Dualla
Posts: 1165
Joined: Wed Nov 12, 2008 2:03 am

Re: Question for those who re-financed with So-FI/DRB

Postby Anastasia Dee Dualla » Mon Apr 06, 2015 7:46 pm

thsmthcrmnl wrote:
Anastasia Dee Dualla wrote:I didn't want to muddy up the student loan (actual numbers) thread with this question but for those of you who re-financed for sub 3.0% rate; are you all just dumping money into the loans to get rid of them or did you consider easing up on repayments to push money into some taxable accounts? I realize some threads sort of address this question, but they are usually arguing with folks who also have $100k of 5.8% interest loans.


With interest rates where they are, I make minimum payments.


Thanks!

iVi
Posts: 102
Joined: Mon Jun 30, 2014 9:23 am

Re: Question for those who re-financed with So-FI/DRB

Postby iVi » Mon Apr 06, 2015 7:56 pm

Anastasia Dee Dualla wrote:
Desert Fox wrote:I eased up on paying it down real fast. But I'm considering speeding back up because if I have to take a lower paying job 2,400 a month is a huge cashflow issue. I want to get my total below 100k and then I'll slow down again.


Hey! Long time no chat. Thanks for the info. I had a fairly small debt load to begin with but I'm contemplating dumping my savings and calling it a day. Haven't made a firm decision on this yet.


Assuming the total amount is manageable, what are the downsides to this approach (paying down all debt with savings)?

User avatar
Anastasia Dee Dualla
Posts: 1165
Joined: Wed Nov 12, 2008 2:03 am

Re: Question for those who re-financed with So-FI/DRB

Postby Anastasia Dee Dualla » Mon Apr 06, 2015 8:19 pm

iVi wrote:
Anastasia Dee Dualla wrote:
Desert Fox wrote:I eased up on paying it down real fast. But I'm considering speeding back up because if I have to take a lower paying job 2,400 a month is a huge cashflow issue. I want to get my total below 100k and then I'll slow down again.


Hey! Long time no chat. Thanks for the info. I had a fairly small debt load to begin with but I'm contemplating dumping my savings and calling it a day. Haven't made a firm decision on this yet.


Assuming the total amount is manageable, what are the downsides to this approach (paying down all debt with savings)?


I lose the "layoff cushion," which makes me nervous, but holding on to debt (even with the low interest rate makes me uncomfortable as well.




Return to “Legal Employment”

Who is online

The online users are hidden on this forum.