You can not currently refi federal loans at lower rates. Federal loans are the only ones that qualify for IBR. The federal government loan servicers are amongst the worst in the industry. If you have Great Lakes, you're not so bad off. However, if you got stuck with Sallie Mae, RUN, don't walk to SoFi or any other private lender if you qualify! Sallie Mae works for Satan himself! There are three private companies that I know of that will allow you to refi federal loans: SoFi, CommonBond, and Darien Rowayton Bank. All three have stringent qualification criteria. Good Luck!