FEATURED BLOG POST

Millennials Are Seeking Prenups—and It Might Just Be Worth Considering

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Those Deals Aren’t Real

by Joanne Bradford

‘Fifty percent off’. ‘Buy one get one free’. ‘Twenty four hour sales’. Yes, Black Friday and Cyber Monday are all about the deals, as well as the associated frenzy that comes with them every year.

But while we’re rushing stores and frantically going online to fill our carts, we often don’t think about the hidden prices that can come with those discounted items. If we took a moment to consider that swiping a credit card on all those bargain purchases comes with the added cost of APR fees, we’d probably be less excited to camp outside a store for the evening, or actually fight over a TV. Point blank: With credit card interest bills over time, Black Friday and Cyber Monday sale items actually cost more than those crazy deals suggest.

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SoFi Launches Student Loan Refinancing for Medical Residents, So That Residents Can Tackle Their Student Debt ASAP

Anyone who pursues the medical field knows that the path to becoming a doctor is laden with student debt. In fact, 76% of 2016 medical school graduates have student loans, with a median student debt load of $190,000 at graduation. And future doctors aren’t just sitting on a pile of debt throughout medical school; even upon starting residency, they’re still accruing interest on that debt while only earning, typically, about $60,000 a year.

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SoFi Entrepreneur Program 2.0

Four years ago, we kicked off what would become our first Entrepreneur Program class. Since then, we’ve helped four classes of 70 companies founded by SoFi members get off the ground with our coaching and resources. We’ve been excited by what these alumni companies have gone on to do: for instance, four out of the five FinTech companies that have participated have had significant liquidity (Standard Treasury, Good April) events or markups (Funding Circle, Axio). Further, companies like Augmedix, CancerIQ, Metrix, Stasis, and others are working on solving huge problems through innovation and technology.

As we enter what will be year five of the program, we thought about what kinds of improvements we could make to further benefit future classes. As a startup ourselves, we understand the challenges first-hand and want to contribute back to the ecosystem, and continue to find ways to serve our members. Today we’re unveiling those improvements as part of the relaunch of the program, and we’re accepting applications now through November 17 for ten open slots.

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At the “SoFi Payoff Celebration” Event, SoFi Members Celebrate Debt Payoff and Reaching That Next Milestone

When you’re in the personal finance business, the real human impact of debt can get overshadowed by interest rates, terms, and other number jargon. But—there is a hugely meaningful moment when that debt is suddenly gone. It’s the culmination of years of hard work, sacrifices, and pushing toward a goal of seeing a $0 balance over the span of many years. Despite all that effort, the final payment usually happens without much fanfare.

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Responding to The New York Times

Over the last few days, we’ve been engaged with The New York Times about a story they’ve now published regarding SoFi’s business, culture, and our CEO Mike Cagney. We’re going to set aside the personnel matters raised in the story as a matter of policy, and will not address every inaccuracy in the story. However, we have some issues with the story that we want to address.

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