Student Loan Payoff Options

[Joe Pieretti]

Hey guys,

I’m in a tricky situation. I have about 40k in student loans. They are divided up into 3 private loans all with interest rates ranging from 8% to 11%. 

As you can see the rates are extremely high. The loans are through Wells Fargo and I have already paid 5 out of the 15 total years. I have a good job making 140k a year and credit in the upper 700’s. My only problem is I did not graduate from college so I am Inept to refinancing my loans. 

I am basically looking for an option to get the interest rate down. Take out a private loan? I don’t know my options. I have not seen this question asked before. 

Thanks a bunch for the help 

Joe 

[Andrew B.]

You already have a private loan, so no reason you cant refinance. Just google student loan refinance and shop around for rates. However, at $140k income, you should be able to pay them off. Instead of spending the money to refinance, just tighten your belt for a year and pay them off asap.