SoFi is committed to fighting racism, standing in solidarity with all of our communities, providing space for open dialogue,
as well as taking action as informed allies. We are donating $1 million to organizations that empower people of color and their allies.
Student loans aren’t fun, and they can be confusing. What frustrates us at SoFi is the dogma in the market that students should always exhaust their federal loan options before considering private loans. This can be very bad advice. While we agree that subsidized Direct and Perkins loans are clear no-brainers for students if you are eligible for them, things get more ambiguous with unsubsidized Direct loans and become down right murky with the egregiously burdensome Grad PLUS loan.Read more
Just last week, we expanded our SoFi ReFi program to more schools across the country, and the response has been huge. But we’ve been also hearing from a lot students and parents who are looking for better loan options to pay for the upcoming school year. For so many people who don’t qualify for subsidized federal loans, 6.8% is the best rate they’ve been able to find until now. And often, families needing to borrow beyond the Stafford limits have been looking at 7.9% or higher for a substantial portion of their loans.Read more
SoFi ReFi Program Is Now Available at 27 Schools
In May we introduced the first phase of SoFi ReFi, our graduate loan refinancing program, to five schools: the Stanford Graduate School of Business, Harvard Business School, MIT’s Sloan School of Business, the University of Pennsylvania’s Wharton School of Business, and Northwestern’s Kellogg School of Business and worked closely with the alumni community at these schools to get the program up and running. The first few months have gone well and we’ve had a great response from both students and alumni to the program.Read more