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?Read more
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.Read more
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.Read more
As CEO of a company that’s working to revolutionize the student loan industry, I have to say the past couple of weeks have been interesting to watch.
President Obama’s much-debated plan to increase college affordability has stoked the fires of an already heated national dialogue about the rising cost of higher education. I applaud the President for addressing this issue, and I’m pleased that this event is bringing the conversation to the forefront. However, I still think there are some fundamental flaws in the plan.Read more