I have a student loan of $126,000. My student loan is currently a 15 year loan of which 13.4 years are left at an interest rate of 4.74%. I have an opportunity to re-finance at a rate of 4.24% for a 10 year loan. This would change the minimum payment from $1,185 to $1,290. However, I have been paying an extra $460 each month for the past 2 years, so I don’t think the extra $105 will be very difficult. Is there any reason I should not refinance?