SoFi Blog

Every year around this time, I notice a slowdown in the number of phone calls I get from job candidates.  Some of it has to do with people taking time to relax and enjoy the holidays, but I think it’s also due to the myth that December is a bad month to find a new job.  Many candidates simply take a whole month off from their search because they assume that employers are doing the same on their end.

When was the last time you took a hard look at your student loans?

If you’re like many borrowers, you probably try hard not to think about them.  That monthly deduction from your bank account might be an aggravating reminder, but one that you’ve grudgingly come to accept over time.  After all, what’s the point in dwelling on your loans if there’s nothing you can do to change them?

Last Wednesday, the Consumer Financial Protection Bureau (CFPB) released a report summarizing complaints from 3,800 student loan borrowers. SoFi was not named in these borrower complaints, but as a private lender focused on refinancing existing student loans, we hear a lot about the challenges our customers have faced with their previous lenders.

Congratulations – you’ve just landed your dream job!  It should be smooth sailing from here on out, right?

Of course, most of us know from experience that this isn’t usually the case.  Even the most happily employed person will encounter challenging work situations from time to time (a negative review, for example).  And if you want to grow in your chosen career, it requires a proactive approach.  The truth is, “career strategy” doesn’t end once you get the gig.  In some ways, it’s just getting started.

There are a lot of factors to take into account when choosing a student loan – differing interest rates, private vs. public, the pros and cons of working with various lenders.  Among those choices, we at SoFi have found one of the things that trips up borrowers the most is the choice between fixed rate and variable rate (also known as floating rate) loans.