Student Loan Refinance

[Erik Heldt]

Hi everyone and thanks in advance for your help. I have a $58,000 Sallie Mae loan currently at 10.75% for 15 years and I'm going to refinance it. I've been on credible and I have a few options as far as terms go. I'm thinking to go with a 20 year fixed at 7% which would bring down my monthly payment by a few hundred dollars a month. The goal of all this is to decrease my debt to income ratio so that I can qualify to refinance my cash flow negative long distance rental that I stumbled my way into before finding Biggerpockets. This would make it cash flow about $250 a month and would free up my VA loan to use on a house hack where I am now and decrease my housing expenses. This would ultimately free up a lot of my income to throw at the student loan and get it paid off aggressively. Has anyone done something like this or have any insight? Thanks so much for your help.