Refinance · Educational guide

Should you refinance your student loans?

The most important question isn’t which lender — it’s whether to refinance at all. For many physicians, the answer is no.

By the AttendingFi research team · Our methodology
Last updated June 2026

Read this first. Refinancing federal loans into a private loan permanently forfeits Public Service Loan Forgiveness, income-driven repayment, and federal protections — and it cannot be undone. For physicians at nonprofit or government employers, refinancing is often the wrong move and can cost six figures. Check your free plan first →

When refinancing is usually the wrong move

If there is any real chance you’ll pursue PSLF — which most residents at teaching hospitals can — refinancing federal loans ends that possibility forever. The same is true for the federal safety net: income-driven plans, forbearance, and forgiveness all disappear the moment you refinance into a private loan. If you’re still in training, or your career path isn’t settled, the flexibility of federal loans is usually worth more than a slightly lower rate.

When refinancing can make sense

Refinancing is worth modeling once you’re an attending with a stable, high income, you are not pursuing PSLF or any federal forgiveness, you have a solid emergency fund, and the rate you qualify for is meaningfully lower than your federal rate. In that situation, refinancing to a shorter term can save real money. The key is that this is a decision you make after the forgiveness question is settled — not before.

How to actually shop — if the tool says refinancing is right for you

Get quotes from several lenders the same week (rate checks are typically soft credit pulls that don’t affect your score), compare the real fixed rate and term — not the advertised “as low as” rate or a one-time sign-up bonus — and pick the shortest term whose monthly payment you can comfortably afford. Our refinance lender comparison walks through the lenders physicians use most.

If the tool confirms refinancing is right for you, compare physician-friendly lenders on our refinance lender comparison, or check your rate with SoFi (a soft credit check that won’t affect your score).

Not sure if you should refinance at all?

That’s the right question. Run your numbers free and we’ll tell you whether refinancing actually beats PSLF or an income-driven plan for you — before you give up federal protections you can’t get back.

Run your numbers free →

Educational estimates, not financial advice. Product terms, rates, and program availability vary by provider and state and change frequently — verify current details directly with each provider. See our disclosures.