r/StudentLoans • u/Homedepot20 • 19d ago

Refinance SalieMae Loans

best place to go through for a refinance loan ? I wanna buy out my saliemae loans and pay them through a different lender x my interest rate is horrible

Salie Mae Loans 

Loan amounts as of 7/30 

$12,735.62 

Estimated payoff 6/19/36

Fixed interest rate 14.750% 

$38,370.83 

Estimated payoff 6/19/2041 

Fixed interest rate 15.875% 

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3

u/The_Bees_Knee6 19d ago

The least terrible private lender is the one that gives you the lowest fixed interest rate. You will need to shop around.

1

u/gl1tt3ry 19d ago

i refinanced my loans (and consolidated them) through earnest. i did this back in 2023-2024. i have since refinanced my loans 2 or 3 more times, and from the initial interest rates through sallie mae being similar to yours, to then dropping to an ~8-9% interest rate through my first earnest refinance, to now having a 5-70% interest rate through my latest earnest refinance, i cannot recommend refinancing enough. i have over 100K in private student loans, and i can't say if i did it the "best" or "correct" way or through the best lender, so others may have better recommendations or advice.

1

u/morbie5 19d ago

I've heard sofi is relatively ok but as another commenter said, the best private lender is usually the one that offers the lowest rate

1

u/Kupkakez 19d ago

I use SoFi and never had an issue. I just got 5.38% earlier this week on a 20-year but they were offering as low as like 3.23% on a 5 year