$210k in Grad PLUS and Direct Unsubsidized
My fiancée just graduated law school, and I’m seeing her student loans in detail for the first time.
She has about 20 federal graduate loans (Grad PLUS and Direct Unsubsidized) through FAFSA with interest rates ranging from 7% to 9%, totaling roughly $210,000.
When I look at federal consolidation, the estimate shows payments of about $2,600/month through 2035, with around $260,000 paid in total.
I’m trying to figure out whether it would make more sense to:
- Keep the loans federal and consolidate through FAFSA
- Refinance with Sofi or another private lender to get a lower interest rate
We both have strong credit and expect a solid income after she passes the BAR, but I’m unsure whether giving up federal protections (income-driven repayment, deferment, possible forgiveness options, etc.) is worth the lower rate.
For those who’ve been in a similar situation, especially with large law school debt, did refinancing save you a meaningful amount? Or was staying with federal loans the better move?
Any advice or things we should consider before making this decision would be greatly appreciated.