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Refinance Student Loans at New Rate?
Posted: Tue Mar 10, 2020 9:58 am
by Anonymous User
Curious if anyone has tried to refinance their
student loans now that rates our slashed (or is planning to do so)
Re: Refinance Student Loans at New Rate?
Posted: Tue Mar 10, 2020 10:39 am
by Elston Gunn
If you’ve previously refinanced, it’s a no-brainer if you can get a significantly better rate. If not, it’s a little trickier because the reason rates are getting slashed—and probably will be again at the next FOMC meeting—is obviously that a recession is looming. A recession is obviously the time when the protections provided by federal loans, especially income based repayment, are most valuable.
Re: Refinance Student Loans at New Rate?
Posted: Tue Mar 10, 2020 2:15 pm
by Anonymous User
Where are you all finding the best rates (other than FRB)? Have rates started dropping significantly because of Corona?
Re: Refinance Student Loans at New Rate?
Posted: Tue Mar 10, 2020 2:18 pm
by Elston Gunn
Anonymous User wrote:Where are you all finding the best rates (other than FRB)? Have rates started dropping significantly because of Corona?
Earnest has offered the best to me other than FRB. I saw it drop like .06% since the Fed rate cut.
Re: Refinance Student Loans at New Rate?
Posted: Tue Mar 10, 2020 2:23 pm
by tlsadmin3
Anonymous User wrote:Where are you all finding the best rates (other than FRB)? Have rates started dropping significantly because of Corona?
When I was looking in to refinancing mine Splash Financial had pretty good rates (3.19% fixed or 1.99% variable)
Re: Refinance Student Loans at New Rate?
Posted: Tue Mar 10, 2020 2:39 pm
by Whatislaw
First Republic purportedly has good rates too. Like an earlier poster mentioned, I value that IBR component more and more given our industry's trends and reactions to recessions.