They’re Paying 0% to 1% Interest on Private Student Loans After Variable Rate Refinancing

Find out more details anytime by swiping up on this story.

I knew that borrowers with federal student loans were benefitting from temporary interest-free loans during the pandemic, but I was quite surprised that some who had chosen variable rate refinancing via private companies are also benefitting from 0% interest or close to it.

In two threads in our physician-only Physicians on FIRE Facebook group, more than a dozen borrowers with refinanced variable rate student loans reported paying under 1% currently.

All but two were paying less than half a percent, and two were paying no interest at all. These great interest rates were not limited to one company; the borrowers had refinanced using five different refinancers.

One thing they all had in common was a variable interest rate and a 0.25% autopay discount. Let’s dig into how these borrowers were able to score such a low interest rate.

Read More About Front-Loading Options by Swiping UP Right Here.

Want to learn more? Visit us at...

Physician on FIRE