I recently refinanced my student loans through SoFi. It was an A+ experience and I would it especially if you are in a similar situation. I heard about SoFi through
Mr. Money Moustache, and although they've grown, it's more or less the same.
My situation is textbook SoFi:
-Young, few years out of college
-Great credit score, after years of having credit cards and never paying interest
-Engineering degree & job, high income
-High amount of debt in private and federal loans
The application process was extremely simple and took maybe fifteen minutes. After submitting my paperwork and necessary documents, I was given a rate quote. My refinance interest rate was lower than my private loans but higher than my federal loans, so I decided to only refinance my private loans. This leaves my federal loans still applicable for IBR, which is very important as
iknowexactly points out.
At the end of the day I was given ~ 2% discount in interest rates and a sign up bonus. This was a no brainer, and I accepted.
If you are even thinking about refinancing, I suggest you give them a call. The customer service was spectacular and called me every few days to check on my application, or to see if I had any questions regarding the terms and conditions.
I did have one issue, but they solved it immediately. Mr. Money Mustache advertises a $300 referral bonus. I followed the instructions, but did not get the cash. A week after refinancing, they sent me a questionnaire about my experience. I let them know that I never got the referral bonus. A customer service representative called me directly, we troubleshooted the problem, and I had the cash in my account by the end of the week.
Let me know if you have any questions. There is a referral program that would get me some kickback but it only pays out $100 to the refinancer, so MMM's $300 bonus is a better deal. Happy refinancing!