I currently have a student loan of $126,000. I refinanced the loan 1.5 years ago from an interest rate of 6.25% to 4.74% on a 15 year plan. I could potentially refinance the loan to a 10 year plan at 4.24%. The payments would increase from a minimum of $1,185/month to $1,290/month. For the past 1.5 years, I have been paying an extra $460/month, so I think the extra $105 commitment will be no sweat. No application, origination or disbursement fees are involved with the potential new 10 year loan. I was strongly considering this as interest rates are predicted to increase post-election. Any thoughts?