If your student loan is being managed by MyFedLoan, you have no other choice than to continue using the service until you pay off your entire student loan balance.
If you have good credit and a solid income, however, you may qualify to refinance your loan with a private lender, such as a bank or SoFi.
This is an appealing option, since the interest rates they offer may well be lower than your current interest rate, assuming you have a credit score of 700 or more.
However, if you do choose to refinance with a private lender, you will lose out on the perks of federal student loans such as the ability to apply for income-based repayment or student loan forgiveness programs.
And if you suffer a health setback or lose your job in the future, private lenders likely won’t let you put the student loan in forbearance and take a break from paying it as the federal government does.