• Default Repair – This option was suggested for you to consider because the applicable student loan is currently in default (based on information provided by your loan servicer). If you have questions about your options or anything related to this loan please call your servicer.
• Forbearance/Deferment – This option was suggested for you to consider because even though the applicable student loan is not in default, you indicated that you cannot afford your current payments. Additionally this is a private student loan, which means it is not eligible for the suspension of payments and interest until 9/30/2020, and our estimate of your debt to income ratio (based on limited information you submitted) suggests you might not be eligible to refinance.
• Refinance Reduce Payment – This option was suggested for you to consider because the applicable loan is a private student loan in good standing and you expressed a desire or need to reduce your monthly payments. Based on high-level estimates, you may be eligible to refinance the applicable loan(s) with SoFi at a lower interest rate. In order to check your eligibility and potential rates for a refinance loan, please check your rate.
Refinance Lower Interest – This option was suggested for you to consider because the applicable loan is a private student loan in good standing and you expressed a desire to reduce how much interest you pay. Based on high-level estimates, you may be eligible to refinance the applicable loan(s) with SoFi at a lower interest rate. In order to check your eligibility and potential rates for a refinance loan, please check your rate.
• Refinance Payoff Sooner – This option was suggested for you to consider because the applicable loan is a private student loan in good standing and you expressed a desire to pay off your student loans sooner. Based on high-level estimates, you may be eligible to refinance the applicable loan(s) with SoFi at a lower interest rate. In order to check your eligibility and potential rates for a refinance loan, please check your rate.
Financial Coaching and Extra Payments – This option was suggested for you to consider because the applicable loan is a private student loan in good standing but the prefigured rules in SL Navigator identify any debt with an interest rate greater than 7% as a good candidate to pay-off or refinance. However, you may not be eligible to refinance your loans based on estimates of your debt-to-income ratio (based on information you submitted), but you might want to explore that option in the future. Financial coaching is often helpful for a person in this situation.
• Financial Coaching and Value of Investing – This option was suggested for you to consider because the applicable loan is a private student loan in good standing and is at a reasonable interest rate relative to market rates. As a general rule, based on your age, many financial planners recommend you prioritize saving and investing rather than making excess payments to reduce the principal of a loan at this interest rate. Our estimate of your debt to income ratio (based on limited information you submitted) suggests you might not be eligible to refinance or the rate on your current loan appears reasonable, but you might want to explore that option with a financial planner
• Financial Coaching and Minimum Payments – This option was suggested for you to consider because the applicable loan is a private student loan in good standing and with a reasonable interest rate lower than 7%. Therefore, you might consider investing for other goals rather than making excess payments towards the principal on your student loan.
*Take advantage of suspension of payments and interest of federal student loans- This option was suggested for you to consider because the applicable loan is a federal student loan in good standing. This means that it might be eligible for suspended payments without interest through 9/30/2020