I graduated Physical Therapy school with $151,000 in student loan debt.
Unfortunately, I wasn't alone.
Student Loans can be a lonely experience that makes it feel like you're spending more time drowning than keeping your head above water. On this blog, I hope you find the hope you’re looking for to keep going on your journey toward freedom.
In 2022, I’ll be sharing all I know about student loans in an online course, to be notified when it goes live click the button below.
refinance your student loans like a boss
The #1 way I have paid down over $58,000 on my student loans in less than five years ($83,000 in seven years) is by re-financing for lower interest rates.
Initial Federal/Private Loans: average 7.2% interest rate: 8 loans, varying terms (10-year to 25-year terms), fixed and variable interest rates.
Starting Amount: $151,613.50 in 2013 — Current loan amount: 47,389.31 (Feb 2022).
Current amount paid toward student loans as of 2/23/22: $141,292.32.
First Refinance (2014) 4.99% fixed interest rate 10 year term with citizen’s bank
Second Refinance (2018) in 4.26% fixed interest rate 7 year term with laurel road
Third Refinance (2019) 3.97% fixed interest rate 5 year term with sofi
Fourth Refinance (2020) 3.24% fixed interest rate 5 year term with sofi
Fifth Refinance (2022) 2.49% fixed interest rate 5 year term with sofi
There are important things to note when refinancing from federal to private so make sure you read all the fine print, but in my case I am so glad I did. It’s totally free to check what interest rate you’d qualify for and to re-finance (unlike re-financing for a house which costs money).
*this page contains affiliate links please check my disclosure here for more information.
the companies I’ve re-financed with
other companies out there
Curious about what I did to refinance (four times) or
need help creating a plan for your six-figures of student loans?
Book a consultation below by choosing, “Online Consultations.”
Investment: $50 for a 60 minute video consultation
*I am not a financial advisor, certified financial planner/advisor, certified financial analyst, economist, CPA , accountant or a lawyer. I’m not a finance professional through formal education. Any consultations with me are solely to share with you my personal experience and systems utilized to help pay off $151,000 accrued during my Doctorate of Physical Therapy degree from 2011-2013. By booking a consultation you agree to the acknowledgement of the above and release Lauren Baker from any liability for information provided or results directly from the consultation.
