As we may presently be in a rising interest rate environment, a student loan refinancing done now with a private company may lock in a lower interest rate for the future. Additionally, several companies may allow a token monthly payment until six months after you graduate. This keeps payment at a minimum while you are on a small resident or fellow income. It also locks in a lower interest expense. As a result, total cash savings can be as much as $20,000 - $30,000 over a loan's timeframe.

The risk is that refinancing with a private company will eliminate one's ability to qualify for Public Service Loan Forgiveness or Income Based Repayment in the future. Should one's career plans change, or if a situation of illness, job loss, or lower income were to occur, then these options would not be available. However despite these caveats, for many young physicians, loan refinancing may be a worthwhile pursuit. If you would like to look into refinancing, please feel free to use these discount codes: