Are you ready to refinance your student loans?


This is a BIG decision; once you refinance your loans, there is no going back. So before you take this any further, here are some questions you should be asking yourself:

  1. DO I HAVE PRIVATE STUDENT LOANS? If so, remember that these are not eligible for federal programs that offer income-driven repayment plans and forgiveness options. The general rule is to refinance all private student loans if you're able to secure lower interest rates.
  2. DO I PLAN TO HAVE MY LOANS FORGIVEN? In order to have your federal loans forgiven, you must stay on an income-driven repayment plan that is designed to have your loans forgiven after a 20-25 loan repayment term. PSLF (public service loan forgiveness) also requires that you are on an income-driven repayment plan in order to qualify. Bottom line: going for loan forgiveness means that you should not refinance at this time.
  3. WHAT KIND OF MONTHLY PAYMENTS CAN I AFFORD? Make sure that you run your numbers, especially if you're switching from an income-driven repayment plan. Even with a lower interest rate, it is possible to have a higher monthly payment when you refinance. You will need to make sure that you can easily afford this amount for the loan repayment term. Here is a free online calculator.
  4. HAVE I SHOPPED AROUND? There are many private lenders, all with different offers, terms, and conditions. This is a competitive space as the demand for refinancing has continued to rise. Make sure you're getting the best deals out there that fit your unique needs.

I have more questions you should be asking yourself in this detailed post about student loan refinancing and consolidation here. Make sure you know the difference between the two!

In addition, check out my Student Loan Advice page for more information and resources regarding student loans.




If you're confident about your decision to refinance, then make sure you're getting the best deals that are out there.

Richer Life DVM is proud to partner with the following companies when it comes to refinancing your student loans. They take a less than ideal situation and are committed to making this process as painless as possible so that you can achieve your goal of paying off your loans once and for all!


By using the links below, you will get a cash-back bonus that you won't be able to get on their main websites. This site will also receive some compensation if you use these links, so thank you for your support! It's a win-win situation!

This list is just getting started, so be sure to check back in the future.

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Splash Financial was started with the young professional in mind. They have partnered with lending institutions in order to provide their customers with the best rates.

Rates: Starting at 1.98% (variable) and 2.88% (fixed).

Cash Back bonus: up to $500

Earnest is committed to providing a customized loan experience for their customers through their Precision Pricing methodology. For those that like the idea of using technology for true optimization, Earnest is your company. *Bonus Disclosure Note

Rates: Starting at 1.99% (Variable), 2.98% (Fixed)

Cash Back Bonus: $300

Commonbond is unique in that the company also has a social mission. For every loan that is funded, they are also helping to fund education through their partnership with Pencils for Promise.

Rates: Starting at 3.18% (Variable), 2.99% (Fixed)

Cash Back Bonus: $300