Student loan refinance

[MattB]

Yeah CC is the big one...I can tell you when I don't pay my CC off fairly quickly and put a big charge on it the score drops more so than you would think...even when you pay it off quick you only gain a percentage of that back..

I got a notification from a credit reporting bureau earlier this week that my FICO score dropped 11 points because my revolving credit utilization increased from 1% to 2%. Mind you, this for a card I have paid off in full every month for 2+ decades.

 

[Riplip]

Check out SOFI.

 

[quinnjalan]

I am doing mine the same but in a different way. I took my payment that I was normally paying and put them towards monthly contributions into a TD ameritrade account. With the growth i had in the account i have more than enough to pay off whats left. Now its just a waiting game to see what they are going to do with student loans.

Sounds like whatever happens you’ll have it covered.

 

[DuckDogDr]

Sounds like whatever happens you’ll have it covered.

No doubt… I wish I had thought enough to do that

 

[BwanaKubwa]

Have you seen the stock market lately? NOT GOOD

 

[DuckDogDr]

Have you seen the stock market lately? NOT GOOD

You’re not wrong either

 

[Cooposo]

I'll second what a few others have said. I'd be very hesitant to refinance if it takes your loans out of the federal servicer realm (even if said servicer sucks) and sells them to a private party.

 

[Wallace]

Unless you are getting a rate that blows your current rate out of the water AND you plan on having your student loan around for a very long time, I would think long and hard about not refinancing your student loans. Your loans can not be forgiven if you are in one of the fields that has loan forgiveness. Your loan can not be discharged in the event of your death or if you become permanently disabled, so your spouse/family will have to use some of your monies to still pay off the loans.

I paid my student loans off 7 years ago. I threw all my extra money at paying them things off. I was tired of lugging them around for years and losing part of my pay checks to them each month. One of the best decisions I ever made.

I only had a couple thousand dollars in student loans and paid them off within 6 months of graduating. My wife has a pharmacy degree as well as a large amount of student loan debt. What you mentioned above is why we have never refinanced. If the worst happened and she died, those loans go away with her. If we refinance and she passes, I'm holding the bag.

 

[go_deep]

Just pay it off as fast as you can.
Never understood sitting around hoping someone else or the goverment will fix the problem I created.

 

[browning2480]

Just pay it off as fast as you can.
Never understood sitting around hoping someone else or the goverment will fix the problem I created.

This right here. Did you all not apply and sign your name on the loans saying you would pay them back? Man up and take care of your responsibilities. This is why this country is in the shape it is in. Everyone always waiting for someone else to fix their problems they created.

Half of you probably complain about the welfare system and the leaches that are abusing it and then justify your own abuse here.

 

[Ratamahatta]

This right here. Did you all not apply and sign your name on the loans saying you would pay them back? Man up and take care of your responsibilities. This is why this country is in the shape it is in. Everyone always waiting for someone else to fix their problems they created.

Half of you probably complain about the welfare system and the leaches that are abusing it and then justify your own abuse here.

My man! I love the way you think. I paid mine off a year ago and didn't miss a payment during the covid shutdown. I was laid off with unemployment and kept making the payments. I actually made money during the whole shutdown and the student loans were first on the list to get rid of.

 

[DuckDogDr]

This right here. Did you all not apply and sign your name on the loans saying you would pay them back? Man up and take care of your responsibilities. This is why this country is in the shape it is in. Everyone always waiting for someone else to fix their problems they created.

Half of you probably complain about the welfare system and the leaches that are abusing it and then justify your own abuse here.

I’m not trying to weasel my way out of payments… I was asking for opinions / options for potentially re-financing at a lower rate…

The same as a bunch of individuals refinancing their mortgages for better rates when the interest rate went down… just looking for better options since the government is moving my skit around . Figured I would look for options besides where the government places them… not a lot of trust with our current gooberment.

I have been paying them each month even with the payment freeze in hopes of paying some off and having a lower payment when they actually re-start. And I’ll be happy to provide proof of steady payment.

How about actually reading the original post instead of going off half cocked on something that was never implied, or is that too hard with out pictures and crayons

 

[browning2480]

I’m not trying to weasel my way out of payments… I was asking for opinions / options for potentially re-financing at a lower rate…

The same as a bunch of individuals refinancing their mortgages for better rates when the interest rate went down… just looking for better options since the government is moving my skit around . Figured I would look for options besides where the government places them… not a lot of trust with our current gooberment.

I have been paying them each month even with the payment freeze in hopes of paying some off and having a lower payment when they actually re-start. And I’ll be happy to provide proof of steady payment.

How about actually reading the original post instead of going off half cocked on something that was never implied, or is that too hard with out pictures and crayons

Easy my post wasn’t directed to you. I already answered your post early on and gave my opinion and also a good organization to look into. The last post I made was in reference to the others posting about not making payments and hoping someone would bail them out. Sorry if I hurt your feelers but it wasn’t directed at you. Figured you would understand that if you are making payments and trying to knock yours out. Maybe crayons could be helpful

 

[willfrye027]

I’m not trying to weasel my way out of payments… I was asking for opinions / options for potentially re-financing at a lower rate…

The same as a bunch of individuals refinancing their mortgages for better rates when the interest rate went down… just looking for better options since the government is moving my skit around . Figured I would look for options besides where the government places them… not a lot of trust with our current gooberment.

I have been paying them each month even with the payment freeze in hopes of paying some off and having a lower payment when they actually re-start. And I’ll be happy to provide proof of steady payment.

How about actually reading the original post instead of going off half cocked on something that was never implied, or is that too hard with out pictures and crayons

Refinanced my med school loans (400k) through laurel road, 2.9% for a 10 year. PM me if you want to chat more about it.

 

[DuckDogDr]

Browning2480 pm sent

 

[CorbLand]

I’m not trying to weasel my way out of payments… I was asking for opinions / options for potentially re-financing at a lower rate…

The same as a bunch of individuals refinancing their mortgages for better rates when the interest rate went down… just looking for better options since the government is moving my skit around . Figured I would look for options besides where the government places them… not a lot of trust with our current gooberment.

I have been paying them each month even with the payment freeze in hopes of paying some off and having a lower payment when they actually re-start. And I’ll be happy to provide proof of steady payment.

How about actually reading the original post instead of going off half cocked on something that was never implied, or is that too hard with out pictures and crayons

His response was to my post about not paying a bunch of money because I dont want to and then watch them get wiped. Nobody would directly call me on it but I know who they were referring too.

I am not hoping that someone bails me out. I disagree with them being forgiven but I am not going to hurry to pay them off if they keep putting the interest rate to zero and talk about forgiving them. To this I would pose the question. How many of you saying I just want a hand out turned your stimulus money back? How many continue to work for companies that took advantage of PPP? How many continue to buy food from the farmers that manipulated the shit out of things to take advantage of PPP? Hell, the stupid low interest rates we saw for two years was nothing more than a handout in disguise.

 

[DuckDogDr]

Indeed and a book … I need thick lines though

 

[browning2480]

Browning2480 pm sent

PM replied. Keep your head up and keep fighting. You too Corbland

 

[Jason K.Y. Wild]

With your loans through the government, you have more options like income based repayment, short term pause if your laid off or become disabled. Just some advantages of not refinancing. My loans are all under 3.6% with the government ( navient and now aidvantage) I doubt any private loan company’s would give out lower rates


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[billoo349]

This right here. Did you all not apply and sign your name on the loans saying you would pay them back? Man up and take care of your responsibilities. This is why this country is in the shape it is in. Everyone always waiting for someone else to fix their problems they created.

Half of you probably complain about the welfare system and the leaches that are abusing it and then justify your own abuse here.

You know what your right. It's not fair to you that we haven't had to pay interest on our student loans. The banks are entitled to those interest payments. Now about all the PPP loans and stimulus checks. People should pay those back now. And why were at it, same with tax loopholes. Pay up. That'll fix the country right up.

0% interest extended to August. I gotta figure out how to pay the bank interest I don't owe as to not be less of a man in your eyes.

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