I assumed the payment on the student loan is going to be $350 a month. If you pay all the minimums, you will pay $3765 in interest and have it all paid off in July 2017. Which is initially a monthly payment of $1289.

If you reduce the interest rate of the 2 from 7.5 to 4.75% but still pay $700 a month towards it that you were paying to them before the balance transfer, you would pay a total of $2,480 plus the $300 fee = $2,780 or a savings of close to a $1,000.

If you stay with the same loans and pay $1,600 a month towards debt reduction and use the snowball strategy to pay them off, you will pay $2,897 in interest also with a savings of close to $1,000

And using snowballing with $1600 a month with the Home Equity Loan would cost $1,915 in interest plus the $300 fee would yeild a savings of $1,550.

Finally, if you refinance and the minimum on the Home Equity Loan at 4.75% has a minimum of $350 a month for example, and you are going to pay the minimum on all, you will pay a total of $4755 in interst plus the $300 fee, it will cost you an extra $1290 all together.

So it all depends on what your plan is. See the attached speadsheet and play with the numbers