<prompt> Human: I owe about 140,000 in student loans from graduate school. The interest rate on the bulk of these loans roughly 95,000 is a little over 7. The remaining amount has an interest rate of about 5.5.My parents offered to pay off the entirety of the loan up front with cash, so long as we agree to make monthly payments to them at an interest rate of 3. Getting into this kind of arrangement with family makes me pretty nervous, but it is a good deal for both parties - since I get a lower interest rate and they get a higher interest rate than theyre receiving now on those savings. Ive tried using private consolidators before e.g. SoFi, but have not been able to get an interest rate of less than 5. Plus the idea of losing the flexibility of the government loan makes me nervous.Does anyone have any advice on how to move forward with my parents proposal? Im happy to enter into an agreement if thats the safest way to go. Any tax implications I should be thinking of?  <response>: Getting into this kind of arrangement with family makes me pretty nervous...Yeah, dont do it. Borrowing from family and effectively turning them into your creditors rarely ever ends well. I would just thank them for the offer, but insist that youll take care of the loans yourself. OT: What field did you go into that cost you 140,000 in grad school? 