OP, if you can refinance to 5% then add $60 per month that would keep the payment at approx. the SAME $225 per month. that would cut five years off the loan and reduce the amount of total interest paid from near $20,000 to about $5,600.
For some others here, I am fortunate, I have done without and saved all my life. I now can pay cash. I detest being in debt. As for as "finicial genius" I like most of us, wasn't born with that knowledge, It had to be learned on my own because it wasn't taught in school. I will attempt to give the best advise I can, and not rag on someone trying to learn and be responsible.
