<prompt> Human: I have a mortgage of around 140k and my student loan is at around 34k. Interest on the mortgage is fixed at 3.9 for 10 years 6 years to go, and my student loan is at 4.5 percent. Would I be better off refinancing at a lower interest rate 2.9 for a 5 year term? I did the math and my monthly cost would actually go down by like 30, but then my overall mortgage would be 174k... Currently, just the interest on my student loan is about 135 per month, so Id effectively be saving 160ish per month, which could go toward savings. In the long run, whats going to cost me more? Paying off my loan a few hundred each month or refinancing it into my mortgage? Thanks in advance.  <response>: So I did something similar a few years back. I bought my house for 290K and took out a mortgage for about 230k at around 3.6. At that time I had about 60k in student loans, some at the variable rate and some at fixed rates 6.8 and 7.9. A few years after me and my wife decided to refinance. the bank appraised our house at 350k and we refinanced for a mortgage of 260k at 3. Since the original mortgage was around 220k at the time of refinancing we had about 40k left over in cash, which we used to pay off our high interest rate loans. Now we may have paid around 2k in closing costs, but we were able to pay off the student loans at the higher rate in exchange for the new mortgage at a much lower rate. We essentially traded student loan debt for more mortgage debt. 2 main benefits I found was saving on interest rate and the ability to basically write off student loan debt through the mortgage interest deduction now. 