I am a 23 year old, employed, Software Engineer working for a startup in an inexpensive city in the United States. I make $71k/year plus stock options that incrementally vest over 3 years. I have no savings currently, as I have graduated college in the few months. I feel comfortable dedicating $2000/month to debt repayment/investing, although I could manage more. I have $210k of student loans, some private, some federal, divided in the following:
Private: $58k @ 11.25% interest Private: $30k @ 5% interest Federal: $120k @ 7% interest
Clearly, I need to refinance the private student loan @ 11.25%. I might as well be in $60k worth of credit card rate at the interest rate they have me at. That being said, I have some options for the others. I have researched the private refinancing options and I could get fixed ~4.8% interest rate with zero fees attached.
Would it be wise to refinance ALL of my student loans at this point? If I were to refinance my federal student loans in private, I would lose all federal protections, as well as the potential for forgiveness that is being hinted at (albeit unrealistically) for the 2020 election. Would it be wise to maintain a loan with better protections at a higher interest rate in the face of potentially declining interest rates?
Additionally, how should I be structuring my income at this point in my career? It's hard to stay out of speculative investing, but given the potential for a downturn in 401k/IRA accounts, should I funnel what percentage of my liquid cash should I be investing in my student loans?