Student Loans are going DOWN.

Student Loan Progress. Bam.
Now that’s what I call Progress!

This might not seem like much, but I hadn’t paid on this thing in YEARs. Talk about stupid. Just a few years ago I started battling with my budget to find more money to throw at this thing. I went back and forth on paying minimum, to double payment, to a fixed amount and couldn’t get it on a “Set-it-and-forget-it” plan. Since February of 2020, I have doggedly paid $1,000 a month towards this thing – a feat completely impossible for me if I didn’t have a budget, reducing my principle by nearly $10K. That’s not nothin’.

Budgeting + a little refinance magic + autopayments = Serious progress in 2020.

Let me tell you a little about the past few years’ of my student loans. I had Navient – THE WORST I could imagine – and stumbled across Sofi and ultimately Mohela as a lender.

Complaints about Navient.

No terms. My biggest complaint about Navient was that I couldn’t change my terms. I really wanted to reduce from say, a 20 year loan to a 5 or 10 year loan – but I was stuck with what I had. I had chatted with my bank, but the most I could do there was take a HELOC or Personal Loan out and rob Peter to pay Paul.

Difficult payment process. I was stuck having to pay extra on my minimum. Which normally wouldn’t be so bad – except their auto-pay doesn’t allow for extra payments on a schedule. To pay extra, you literally have to go onto their website monthly and enter an extra payment. Might not seem like much, but it was a pain in the butt.

Depressing. But my biggest gripe with Navient and my current loan terms was that lack of movement. I couldn’t get traction, they made it difficult to pay them and I’d lose hope that it would ever get better or go away. These student loans had to go – so to Google I went.


I had done some hopeless Googling, having heard long ago that Student Loans couldn’t be refinanced. Wasn’t expecting to find much. Really wasn’t looking for Student Loan Forgiveness – I just wanted to update my term from a life sentence to a 5 yrs out with good behavior.

Well – along came SoFi. I had seen a referral link from somewhere. I cautiously tip-toed through the process and was pleasantly surprised to not only have my refinance application accepted, but also in receipt of a $300 referral bonus. I was like – Okay. You have my attention.

My student loan ended up purchased by Mohela from Navient through SoFi.

What is so nice about this was SoFi in addition to all of their online resources and information was that 1) My loan was now a 5 year note – if I did nothing more than pay the new minimum, its gone in 5 years. 2) I can now double up my payments in a meaningful way – straight to principle.

Doesn’t have to be SoFi, but it did work out (correction – “is working out“) very well for me in terms of seeing actual progress being made and getting excited to see the finish line. That might be half the battle.

Doing a little math…. 21K left, 24 months in 2 years – I got this.

I do get credit if you end refinancing with SoFi, so please use this link when you go check them out, to help me out.

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