'Sharp spike' is relative. Look at the numbers; Mr. Winiarz is going from 6.55% to 2.69%. If a 'sharp spike' doubled his interest, he's still paying less intere

'Sharp spike' is relative. Look at the numbers; Mr. Winiarz is going from 6.55% to 2.69%. If a 'sharp spike' doubled his interest, he's still paying less interest than he was on the Fed's legislatively-fixed rate. Mr. Chopra, who warned of the 'sharp spikes', works for the Consumer Financial Protection Bureau, which is a federal agency. I wouldn't go so far as to say that Mr. Chopra is spreading FUD, but from where the CFPB is standing, student loan refinancing is creating a threat to consumer financial safety, so they absolutely have an interest in discouraging it.