I have 6 figures in student loans, and my interest rate is ridiculous (7.8% on some). I kinda got shafted since the class two years before me locked in at 2%......the rates spiked after my first year of grad school. Since the rates are so low right now, i wondered if its possible to borrow from a bank/CU at ~3.5% and pay off the high interest loans? Would there be any disadvantage to doing this? The only negative i can think of is the federal loans will allow me to defer payments if i ever get in a jam with money. Any other things to consider?