1. Module Number 6 Refinancing Student Loans Yale School of Medicine
Paul S. Garrard
Founder and President, PGPresents, LLC
Independent Student Loan Consulting
January 2019
2019 PGPresents, LLC - All Rights Reserved

2. Private refinancing
Trading debt for debt (but moving your debt to a private lender)
The bait is the rate
Generally based on credit, debt-to-income ratio (DTI), and employment history
Tends to be risky during residency when flexibility may be needed

3. Should you refinance You may be a candidate if you
Are ready to start active repayment, perhaps aggressively
Are not interested in Income-Driven Repayment plans or forgiveness, including PSLF*
Are not concerned about postponement
* Public Service Loan Forgiveness

4. Should you refinance You may not be a candidate if you
Need to be cautious with payments
Need payments tied to income
Are interested in forgiveness, especially PSLF*
May need to postpone payments
Are risk averse
* Public Service Loan Forgiveness

5. Questions to ask Interest rates Repayment plans Postponement options
Fixed and variable
Repayment plans
Postponement options
Ask about fees to postpone and impact on capitalization*
* This can have a dramatic impact on your loan balance

6. More questions to ask Cosigner requirements and cosigner release
Forgiveness provisions
Assumptions behind projected amounts you may save that they provide you
Will preliminary application result in hard or soft credit pull

7. PGPresents, LLC Independent Student Loan Consulting www.PGPresents.com
END OF MODULE SIX
PGPresents, LLC
Independent Student Loan Consulting
2019 PGPresents, LLC - All Rights Reserved