<prompt> Human: I have refinanced my private Student Loans a few times and am considering refinancing again. I always get a better rate and lower payments always pay way above minimum. This was super helpful last year when I was out of work for a few months. I get that it would be a minor hit to my credit score for age of accounts, but is there any other reason I shouldnt refinance?Assistant: IF you are able to get better terms, then sure. My guess is that you are still in a credit situation where you arent yet qualifying for the best rates. You are getting a better deal each time because your situation is improving.When you do get to the best rates, youll soon find that rates are actually increasing and if you are at that level, it is currently getting less advantageous to refinance. Human: Huh, that seems counter intuitive of the financier to do that, but Ill keep a look out for that.Edit: I guess I misunderstood, When you do get to the best rates, youll soon find that rates are actually increasing and if you are at that level, it is currently getting less advantageous to refinance. Essentially when you get to the best rate it will hurt to refinance, but until then Im fine.  <response>: What do you mean? Riskier borrowers end up paying higher rates. All the rates are based off the bottom rate, the bottom rate is increasing as governments set their lending rates higher. So think of it like a stair case that keeps getting taller. You are walking your way up the stair case getting a better rate, but the bottom keeps going up. 