I am considering refinancing my student loans and was looking at a variable apr loan. Right now I have a fixed 4. 6% interest rate in a 10 year loan with a minimum payment of $764. I have been paying $1200 with an expected payoff date of February 2025. With interest rates being low right now, I am considering refinancing and have two options: a 2. 98% variable APR with a monthly min payment of $1, 172 for 5 years or a 3. 82% fixed APR with a monthly min payment of $1, 197 for 5 years. Both would save at least $1500 in interest. I would continue paying at least $1, 200 if not more. Both my husband and my jobs are stable, so not taking that into consideration what are people's thoughts about fixed vs variable in this scenario?
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