Student loans.....

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How much of a decrease are y'all seeing on the apr's? I've applied and gotten a quote from laurel road and the best they gave me was like 0.25% lower than my average rate. I have fairly good credit >750 and make approx 120k/year. I really don't know what else they're looking for.
 
MirrorTodd said:
How much of a decrease are y'all seeing on the apr's? I've applied and gotten a quote from laurel road and the best they gave me was like 0.25% lower than my average rate. I have fairly good credit >750 and make approx 120k/year. I really don't know what else they're looking for.
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Why are you even refinancing as a resident? When you could be enrolled in RePAYE? Rates get better when you finish residency and have a real job.
 
for most people, after repaye pays 1/2 the unpayed interest each month, your actual interest rate is somewhere around 3.5 if i remember correctly. so you should be doing repaye in residency
 
abolt18 said:
Why are you even refinancing as a resident? When you could be enrolled in RePAYE? Rates get better when you finish residency and have a real job.
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pocafx said:
for most people, after repaye pays 1/2 the unpayed interest each month, your actual interest rate is somewhere around 3.5 if i remember correctly. so you should be doing repaye in residency
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These are things I was unaware of. I will look into it. Thanks!
 
SaltyDog said:
Only if in exchange I get to “refer” you to an AMC job in California’s high desert.


One of my buddies actually proposed a scam whereby 3 or 4 of us would rotate referring each other to refi our loans every year back and forth between Sofi, Earnest, and Laurel Road.
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Don’t you need actually sign up? Or just rotating through them, yearly...... hmmm.... interesting idea.....😉

I think at some point the time may not really worth it for you guys.
 
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