Question

With Student loans at 0 interest I'm taking the time as most of you might be at looking into repayment options come September when FedLoans kick back into gear. What refi companies have you used that you liked ? and do you at all regret the decision to go private? Additionally has anyone used loan forgiveness companies such as Student loan planner or Student loan Tutor for the long game strategy? -what are the potentials for these to be adequate in the long run? Thanks for your input!  

Answer 1

I refinanced a couple of years ago with Earnest. No problems thus far, I’d recommend them.  

Answer 2

I think it’s worth considering what you’re giving up by refinancing. (Current zero interest rate, income driven repayment plan, forbearance option if they aren’t set up for it, forgiveness plan if you believe in it, and the benefit of having forgiveness upon death! Depending on your amount, payment and how aggressive your repayment strategy is, I’d rather owe the Feds.  

Answer 3

Interest is tax deductible on fed. student loans. Not a big deal, but other debt is often not.  

Comments

Student loan interest is tax deductible whether the loan is public or private.