Hello all.
So I had started the SoFi application months ago to see what sort of rates I could get, but I didn't act on any of it at the time for a couple of reasons:
1) My loans weren't active yet. They become active January of 2016
2) I was in the process of buying a house and that took priority.
So now I went back on there to re-do the application (address changed, income changed, total loan amount changed since more interest accumulated) and now the SoFi options are telling me the fixed interest rate for 10, 15, or 20 year plans is ~6.5% and UP!
My current average interest rate through Navient for all of my loans is 6.7%. Total amount + interest between them is $37,800.
I can currently have a 25 year repayment plan through Navient.
My goal was to have the lowest monthly payment locked in around 5-6% in order to free up more cash to invest and hopefully make more than 5-6% on it.
The SoFi rate at 20 year repayment was 7.229% or something ridiculous.
Does anyone have other options? If I can't find a reasonable fixed rate then I may just have to focus on paying the loans down faster because that will give a better rate of return than investing.