My wife and I have more than $ 150,000 in student debt, with interest at 9-11% of each loan. Is it better to just refinanced our house and pay it all for a lower monthly payment and interest rates? To further clarify our house is estimated at $ 250,000. We entered into an inheritance and it paid off, we currently have no mortgage payments. Since we had to move into a new state, we are both unemployed and payments to be felt on us. I’m sure we can at a rate on the loan under which the school takes care of us get ready, and that way we can increase our credit rating with a mortgage payment and a larger tax deductions? What do you think?