https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sun, 24 May 2026 19:12:19 +0000 https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2551808 Thu, 19 May 2016 08:50:13 +0000 Silva 2551808@https://boards.hellobee.com/ <p>I'm just bumping this and wondering if anyone has experience with refinancing as a SAHM. I work part time, but with my current income/debt ratio don't qualify. I'm certain if my husband was a co-signer we'd qualify to refinance both our loans (he is a doctor). Anyone had to go this route? </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2323456 Fri, 16 Oct 2015 12:53:19 +0000 Rockies11 2323456@https://boards.hellobee.com/ <p>@littlejoy: we refinanced ours into our mortgage when it was up for renewal. It was amazing, like they just disappeared. </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2323372 Fri, 16 Oct 2015 12:01:13 +0000 Meowkers 2323372@https://boards.hellobee.com/ <p>What we did is we refinanced our house and used the extra money to pay off my high interest student loans. The interest rate on the house refi was SO much lower than the interest we were paying on my student loans. </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2323309 Fri, 16 Oct 2015 11:26:28 +0000 doxielove 2323309@https://boards.hellobee.com/ <p>@yoursilverlining: I encountered that issue when I forgot to check one of the boxes agreeing that I'd read the terms. Maybe try that? If I remember, there was a box at the end of a paragraph (w/ a scroll bar).</p> <p>@Bluemasonjar: Full disclosure, my SM interest ranged between 8-13% on my loans :shocked: (Yup, I wasn't that bright when I was 18 and financing my tuition!) So in my situation, even if I got approved at DRB for the max fixed interest rate (5.75%, 10 years), it would STILL be below what I'm currently paying. Win-win! I almost cried when I got approved, lol. </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2323305 Fri, 16 Oct 2015 11:23:19 +0000 littlejoy 2323305@https://boards.hellobee.com/ <p>@doxielove: Yay for you!!! I'm so happy you updated here, because it reminded me I wanted to do this!!! </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2323264 Fri, 16 Oct 2015 11:08:20 +0000 yoursilverlining 2323264@https://boards.hellobee.com/ <p>@doxielove: Thanks for sharing! My private loans are all lower than 3% but my dang federal (the bulk!) are at the fixed 6.8%, which is INSANE. </p> <p>I started an application, but when I click on "continue and save" nothing happens. Did this happen to anyone else? I'll try again when I get home - maybe it's my work internet explorer being a pain. would love to refi and get the federal loans down to 3% too!! </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2323255 Fri, 16 Oct 2015 10:59:24 +0000 Bluemasonjar 2323255@https://boards.hellobee.com/ <p>@doxielove: Sallie Mae is the worst! DH has a good but left in student loans with 4-5% interest rates. I'm going to have him look into this. </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2323123 Fri, 16 Oct 2015 09:30:05 +0000 doxielove 2323123@https://boards.hellobee.com/ <p>@simplyfelicity: Yup, that's the one! </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2323121 Fri, 16 Oct 2015 09:28:13 +0000 simplyfelicity 2323121@https://boards.hellobee.com/ <p>@doxielove: looking into it, too! Is this it?</p> <p><a href="https://student.drbank.com" rel="nofollow">https://student.drbank.com</a> </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2323108 Fri, 16 Oct 2015 09:19:51 +0000 doxielove 2323108@https://boards.hellobee.com/ <p>Just wanted to thank @littlejoy for starting this thread; it prompted me to refinance my student loans with DRB. I was able to cut my interest rate by more than 50%...! (I was paying a pretty egregious interest rate on my private loans...damn you, Sallie Mae!) The interest we'll save over the life of the loan is life changing, so, thank you!!!!!! :grin: </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2283438 Fri, 04 Sep 2015 17:55:22 +0000 gingerbebe 2283438@https://boards.hellobee.com/ <p>@gotkimchi: Same. My husband refinanced his law school loans with DRB. I cant remember why SOFI didn't work for us, but DRB gave us a great rate. DH's consolidated loan from law school was something like 8% interest so the savings has been great. We are paying less than what we were on the 30-year payment plan with Direct Loan on a 10-year note. We hope to have his loans paid off within the next 3-5 years, however. </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2283353 Fri, 04 Sep 2015 15:42:21 +0000 gotkimchi 2283353@https://boards.hellobee.com/ <p>I refinanced with DRB ( they gave me a better rate then sofi). Mine is more then 3 percentage points lower and I refinanced for 5 years with basically the same payment and I had 7.5 years left on my original loan. Super fast super easy. With DRB I got a $250 promo so that was nice </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2283343 Fri, 04 Sep 2015 15:31:55 +0000 catlady 2283343@https://boards.hellobee.com/ <p>I consolidated mine many years back. Actually I did it twice since I was still in grad school the first time I did it and still accumulating debt. I don't remember much about the process except it was very easy and they locked me into a super low rate. I was young and didn't even shop around for rates or anything, but I did well. You should probably do a little more research than me, but I have never seen a downside to consolidating. I have not refinanced (my rate is so low, I couldn't get a better one now), so I have no experience with that. </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2283337 Fri, 04 Sep 2015 15:25:02 +0000 regberadaisy 2283337@https://boards.hellobee.com/ <p>I've always been curious. Does refinancing only make sense if you have a high interest rate? My student loan has been paid off but DH still has a pretty significant Stafford loan. But his rate is super low, like under 3% so I'm wondering if it's even worth it? </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2283274 Fri, 04 Sep 2015 14:38:16 +0000 littlejoy 2283274@https://boards.hellobee.com/ <p>@reverie: I think I'll check with my local bank to see if they offer anything (probably not). Thanks!! </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2283273 Fri, 04 Sep 2015 14:38:00 +0000 littlejoy 2283273@https://boards.hellobee.com/ <p>@Aria: Great!! Thanks for the input. :) </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2283272 Fri, 04 Sep 2015 14:37:51 +0000 littlejoy 2283272@https://boards.hellobee.com/ <p>@reverie: Amen to that!! :) I had a friend pay a $70K loan off in a year!! I am still jealous of that! </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2281976 Thu, 03 Sep 2015 16:27:07 +0000 reverie 2281976@https://boards.hellobee.com/ <p>I have a friend that refinanced with SOFI and was very happy with the service she received. I still have a significant amount left (63k) and looked into it -- the only way to get a lower interest rate than my 4 something right now was to do a ridiculously fast repayment.... like 5 year repayment. If I had 12k a year to throw at the loan I wouldn't need to refi :) </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2281972 Thu, 03 Sep 2015 16:24:23 +0000 Eko 2281972@https://boards.hellobee.com/ <p>I looking into refinancing through sofi then I saw citizens bank was now offering student loan refinancing and consolidating and that's what I ended up going with. I was approved within 2-3 days. It was a really easy process. </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2281929 Thu, 03 Sep 2015 15:59:53 +0000 Aria 2281929@https://boards.hellobee.com/ <p>We refinanced my husbands law school loans with SoFi. We have approximately the same monthly payment but we'll pay it off in half the amount of time which is great. I think the process was fairly simple and straightforward but my husband dealt with most of it so I don't have more specifics. </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2281896 Thu, 03 Sep 2015 15:38:40 +0000 littlejoy 2281896@https://boards.hellobee.com/ <p>@psw27: Their rates look good! I'm paying between 6-12% (!!!) on all of mine. </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2281893 Thu, 03 Sep 2015 15:35:41 +0000 psw27 2281893@https://boards.hellobee.com/ <p>@littlejoy: ooooh! I really hope I could cause my interest rates stink! </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2281892 Thu, 03 Sep 2015 15:34:28 +0000 littlejoy 2281892@https://boards.hellobee.com/ <p>@psw27: From their site: "Is it possible to refinance both federal and private student loans? -- Yes, SoFi will consolidate all qualified education loans." </p> <p>I'm not sure if that helps!! </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2281870 Thu, 03 Sep 2015 15:23:15 +0000 psw27 2281870@https://boards.hellobee.com/ <p>Following this... I've been hearing about it and wondering if I would qualify. My loans are mostly Staffords. Do you know if those can be refinanced? I hate my loans :sad: </p> https://boards.hellobee.com/topic/success-with-refinancing-student-loans#post-2281861 Thu, 03 Sep 2015 15:20:21 +0000 littlejoy 2281861@https://boards.hellobee.com/ <p>I heard about a company called SoFi today on NPR. It prompted me to compare interest rates on my student loans. It's gross how much interest I'm paying.</p> <p>Has anyone refinanced with a place like this? Was it as easy as it seems? Pros? Cons? </p> <p>FWIW, I have about $25,000 left, and DH has about $65,000 left. </p>