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I’m waiting to refi until more updates on student loan forgiveness, etc. Even if interest rates go up, the rates will still be less than the rates for my federal loans, so it makes no difference to refi now or later.
Mentor
Who knows. I refi’d $155k at 2.69% for 7 years, monthly payment of $2,024. The uncertainty was killing me and I highly doubt earners like us are getting any meaningful forgiveness. I didn’t want to wait out the freeze just to be stuck refinancing near 4%.
I could be wrong but I just wanted to get it over with. If I’m wrong, my partner will benefit greatly and that’s fine with me. They’re waiting to refinance.
i'd probably wait to refinance, no idea what's going to come
Mentor
I’m waiting but only have $40k so I don’t get murdered on interest.
I don’t see how dems don’t extend the interest freeze with midterms coming.
Enthusiast
I am waiting. Too many unknowns and I don’t want to sacrifice the possibility of some sort of forgiveness. There’s no way I will be in big law/private practice more than 6 years.
I bet it gets delayed at least one more time. Last time he said “this is really the last time” or something like that and this time he just extended it without the same warning…
Enthusiast
You should be aggressively paying while the interest is frozen. There is a near 0% chance of any forgiveness, and even if it happens, everyone on a big law salary will be excluded because of income.
Enthusiast
Yep, certainly a reasonable view as well. Assumes the market will go up during the time you’re aggressively investing. I just want the debt gone. Maxing out all tax sheltered space (401k and HSA + back door Roth) and rest towards debt. Down to the last 15k!
Wait.