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When to refinance

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  • When to refinance

    I will be graduating from fellowship in July and will be signing with a private practice group starting in August. I am currently on REPAYE while in-training. When is the best time to re-finance given I won't qualify for PSLF as an attending? Some companies offer $100/month while in-training, so curious if that would be the best option.

    Appreciate any responses, thanks!

  • #2
    To us biggest factor with refi was being able to make the 'big boy' payments without them crippling us financially. That meant waiting 5 months after starting attending job to make sure we felt good about accommodating the bigger payment. IBR was about 800 at the time and increased to 3600 upon refi.
    so my answer would be to do it as early as you can handle it. Remember it's costing you $$ every month you delay.


    • #3
      Now, assuming you can get an in training payment like the $100/month you mention.

      Once you start your attending job, you might qualify for an even lower rate and you can refi again.