Reply to How to minimize monthly interest ($550/month) accruing on student loans?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, what kind of degree do you have and do you make?  Just trying to wrap my head around the amount of student loan debt you have.[/quote]
Not OP but my husband had almost this much student loan debt.

Just from law school, since he had a full ride to college.

This was twenty years ago.[/quote]

Yeah seriously. I graduated law school 18.5 years ago with $160k in loans. Now I hear of kids graduating with two and three times that much. (Which blows my tiny little mind - I am still 4 years from being done with my loans; I can't imagine how these new grads are ever going to get done with theirs).[/quote]

Particularly if they won't or can't do a stint in Biglaw.[/quote]

I graduated with my MBA in May and am still freaking out over my loans ($180k total). I hate that I went into finance, but I have a very detailed spreadsheet for repayment and I figure it’ll take 2, maybe 3, years max. Then I can do what I actually enjoy. Not helpful at all, sorry. [b]I have SoFi too and you may be able to refinance again at an even lower rate. 5%+ is still pretty high for them.[/b][/quote]

OP here - this is really helpful, actually.  I think you're right.  If I can afford $900 extra a month, I should refinance into a shorter term loan with a lower rate.  Though I just checked and unless I want to do a 5 year variable, which makes me nervous, the difference in rates is only .5% or so.  I'm really tempted to do the 5 year variable, but this just isn't a good year with some likely big medical expenses coming up.  Thanks though for putting the idea in my head![/quote]

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