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refinance all federal loans or leave some in case of forgiveness?

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  • refinance all federal loans or leave some in case of forgiveness?

    Currently in the process of refinancing my fed loans to private lender so that I get a lower rate after 1/31. I'm wondering if I should still leave some with fed loans in case of forgiveness. And how much should should be left? I'm thinking of leaving $10,000 in case Biden makes his promise.

  • #2
    It’s anyone’s guess at this point.. I personally hedged my bets and left 10g early on, but now with the debt and inflation, I highly doubt they are going to fork out that much more money..


    • #3
      I'm in the same boat. Wondering how much to refinance vs keep. I thought I had heard rumors that the max forgiveness would be 50,000, but I'd have to assume that would have an income limit disqualifying most of us.


      • #4
        I guess its easy for me to say at this point in my life, but hanging on to $10k in hopes of forgiveness at some point isnt worth the headspace for me. Id nix em and never think about them again. Its just not enough to move the needle either way.


        • #5
          Eh, I don't think I've even heard about the 10k stuff in any of the recent bills. Seems like a risk I wouldn't want to pay for (in higher interest while holding out hope)


          • #6
            You could leave it there, but it's very unlikely it's going to happen and even if it does most in the forum would probably be phased out of the benefit due to your high income.
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