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Refinance Student Loans

Save thousands on
your student loans.

You could save money each month—or pay off your loan faster.

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Checking your rate will not affect your credit score.

Why refinance with SoFi?

Serious savings

Save thousands of dollars thanks to
flexible terms and low fixed or variable rates.

Fast, easy, and all online

Simple online application and access to live customer support 7 days a week.

No hidden fees, no catch

No application or origination fees.
No pre-payment penalties.

Access to member benefits

SoFi members get career coaching,
financial advice, and more—all at no cost.

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SoFi is the leading student loan
refinancing provider.

  • in refinanced student loans
  • members have refinanced their student loans
  • % of surveyed members would recommend SoFi to a friend3

How it works

Get pre-qualified online.

We’ll let you know if you’re qualified before you complete the full application.

Select your rate and term.

Choose between saving on your monthly payment or saving on total student loan interest.

Get your new loan.

Upload screenshots of your information, then sign your paperwork electronically. Then we’ll pay off your servicer(s) and issue you one new student loan.

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Q: Who should refinance?+-

Refinancing is a great solution for working graduates who have high-interest, unsubsidized Direct Loans, Graduate PLUS loans, and/or private loans. Federal loans do carry some special benefits, for example, public service forgiveness and economic hardship programs, that may not be accessible to you after you refinance. Check out this blog post that provide more information: When to Consolidate Federal and Private Loans by Refinancing. Or, call us for a free consultation about your particular situation.

Q: Can I refinance both federal and private student loans?+

Yes, SoFi will consolidate all qualified education loans.

Q: Am I a good candidate to refinance my student loans with SoFi?+

SoFi aims to revolutionize financial services- ultimately improving the system for everyone. Today, we’re able to offer significant savings and flexibility to US citizens or permanent residents who have graduated from a selection of Title IV accredited university or graduate programs, are employed, has a sufficient income from other sources, or hold a job offer with a start date within 90 days, have a responsible financial history, and a strong monthly cash flow.

Q: What is the difference between consolidating and refinancing?+

Student loan consolidation is when you combine multiple loans into one single loan. Student loan refinancing, on the other hand, is when you get a new loan at a new interest rate and/or a new term. You can refinance both federal and private loans. Learn more here.

Q: What’s the difference between fixed and variable rate loans?+

Fixed rate loans are loans that have an interest rate that does not change over the life of a loan, which means you pay the same amount each month. It also means you know with certainty the total interest that you’ll pay over the life of the loan. Fixed rate is a general term that can apply to different types of loans with a variety of uses, including student loans, mortgages, auto loans, and unsecured personal loans.

Variable rate loans are loans that have an interest rate that will fluctuate over time in line with prevailing interest rates. They generally have lower starting interest rates than fixed rate loans, but the interest rate and payment amounts can change over time. Sometimes they are also known as floating rate loans.

Learn more at https://www.sofi.com/fixed-vs-variable-rate-loans/

Q: Where can I find more information about student loans in general?+

Deciding how to best handle your student loan obligations can be an intimidating process. That’s why we’ve put together our Student Loan Help Center to give you guidance on payments, refinancing, budgeting, and common terminology so you can feel more confident in your journey to becoming debt free.

See all FAQs

Find your rate in just
two minutes.

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