Student loans is complex and always changing. The minute you learn something, it changes. (That’s why I have a hard time writing posts and having to go back and re-edit them a couple months later!)
For that reason, this is one area I recommend hiring out instead of DIY. It’ll cost you a couple hundred bucks but you have the reassurance you have done it right. And you can say “goodbye” to the stress and anxiety your loans are causing you.
I recommend Travis Hornsby of the Student Loan Planner. His team only deals with high student loans and consists of CFP® and CFA professionals. We used Travis and have no problem recommending him.
Is Refinancing Right For You?
First off, if you’re looking to refinance, you need to know you forfeit benefits and options when you refinance your federal student loans. These include giving up:
• Income-driven repayment plans (i.e. IBR, PAYE, REPAYE)
• Extended forbearance and deferment in periods of hardship
• Federal Loan Forgiveness programs such as PSLF
Refinancing your loans to a private lender is irreversible.
If you are 100% sure refinancing is right for you, let’s move forward!
Refinancing Options for Medical Families
There are many companies out there that refinance loans, and each will have their own offers.
For example, some offer unemployment benefits, some don’t. Others offer lower rates than others. Splash is famous for having a program for those in residency or fellowship training with very low $100 monthly payments regardless of the loan amount.
Make the effort to apply to all of to companies below so you can choose the one that offers you the best deal for you.
Cash Back Bonuses!!
I have negotiated large cash back bonus rates if you refinance through my affiliate links below. Many other bloggers also offer this, but you may find that my bonuses are more generous.
Below rates updated 10/24/2019
Variable rates 2.25%-6.65%
Fixed rates 3.50%—7.02%
$350 sign-up bonus
Variable rates 2.14% to 7.944%
Fixed rates 3.46% to 7.944%
Variable rates start at 2.37%-9.72%
Fixed rates start at 3.49%-9.99%
$250 sign-up bonus