<prompt> Human: I have about 50,000 worth of federal student loans at 6.5 interest rate. I am currently able to pay them off fairly quickly and pay more than i need to every month. I have been approved to refinance with sofi at 4.58 fixed rate fpr a 10 year term. I would of course lose the ability to choose income based repayment which i currently no longer really qualify for and they wouldnt be forgiven after 25 years i work in the private sector. Sofi offers deferment for unemployment, if god forbid i lost my job. So long as i kept my current job and nothing crazy happened, this would save me roughly 10,000 in interest, if it took me the full 10 years to pay. Hopefully it will take me way less than that, but still - thats a ton of money. I am leaning towards doing it but i am worried that there is something im overlooking. What else should i be thinking about? Should i do it?  <response>: Use unbury.me to calculate the actual interest savings between your current payoff method and one at the other lender.For example, if youre on track to pay it off in two years then it really wouldnt save you that much, maybe like 800 bucks. Then you weigh that cost against the protections you lose and do your own risk analysis on it.People in here will all tell you to never give up federal loans. But it all depends on your risk tolerance and if youve done your homework in my mind 