Total Interest Paid: $0
If you have federal student loans, be very careful before refinancing them with a private lender. While a private lender might offer a lower interest rate, you will lose access to federal protections like Income-Driven Repayment (IDR) plans and Public Service Loan Forgiveness (PSLF). Once you refinance to private, you cannot go back.
Most student loans are automatically set to a 10-year "Standard Repayment" plan. This minimizes your interest but maximizes your monthly payment. If you are struggling to pay, call your loan servicer immediately to discuss extended or graduated repayment options—don't just stop paying.