We are asked this question often not only by clients, but those who reach out to us for our expertise on student loans. While there is not a simple answer to this question, for the purposes of the ReCap, here are the basics. If you have federal loans (either subsidized or unsubsidized), it almost never makes sense to consolidate with a private lender like Sofi. Why? Because when you refinance your loan with a private lender such as Sofi, you are disqualifying yourself from generous public service loan programs, income based repayment programs (i.e. IBR, PAYE, or ICR), or more importantly, flexibility if you encounter financial hardship.