09/17/2020

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SoFi Blog

Tips and news—
for your financial moves.

Top Cities for College Grads

Finding the right place to live after graduation can be tricky. Do you pick the biggest city with the most diverse job market, or do you find a smaller city with a lower cost of living? Do you prioritize culture and entertainment or community and family? How important are climate and access to outdoor recreation?

While those are questions you’ll have to answer for yourself, the process could be a little easier with some research. You’ll likely want to consider things like employment, cost of living, housing, and overall job growth in the areas you are interested in moving to after graduation.

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Tips for Maintaining a Healthy Work-Life Balance

It’s no secret that today’s generation can have a hard time setting healthy boundaries between their work life and their personal life.

Whether it’s figuring out how to stop checking work emails late at night or how to develop a healthy relationship with work income and spending in the face of student loan debt, navigating the workplace in a sustainable way is often easier said than done.

The constant demands on today’s workers can sometimes make it feel like work doesn’t really have an “off” switch. Thanks to social media and email, it can sometimes start to feel like you’re losing control of your own time and life—working around the clock, even when you’re outside of your physical office.

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Bernie Sanders’ vs. Elizabeth Warren’s Debt Forgiveness Plans

In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more. Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would be beneficial to our members, and will make sure to call it out when we do. Our reporting otherwise is for informational purposes only, and shouldn’t be construed as an endorsement.



If there’s one thing most of the 2020 Democratic presidential candidates seem to agree on, it’s that it’s time to make college tuition more affordable for Americans.

For some, that means tuition-free community college, expanding Pell grants for students who come from a lower-income background, or even making tuition completely free for undergraduates attending public colleges and universities.

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rocket ship

Sick of Student Loan Debt and Fed Up with the Shame: How Millennials Really Feel

There’s no sugar coating the current state of student loan debt. It is grim, especially when you read the numbers: Over 44 million Americans hold nearly $1.5 trillion in student debt. Much of the people who owe this debt are
millennials .

The millennial generation is constantly facing backlash, whether it is about the amount of student debt they owe or their “frivolous” spending habits on things like $5 coffees and avocado toast. However, maybe it is possible to have your avo toast and pay off your debt, too.

We wanted to find out how millennials really felt about the stereotypes against them and what they think about their student loan debt, so we polled over 1,000 millennials (ages 22-35)1 across the U.S. to get their opinions and found some surprising statistics.

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unhappy college student

How Betsy DeVos’ Change to the Gainful Employment Rule May Affect You

In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more. Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would be beneficial to our members, and will make sure to call it out when we do. Our reporting otherwise is for informational purposes only, and shouldn’t be construed as an endorsement.



Betsy DeVos, the United States Secretary of Education, is nothing if not controversial. On July 1, 2019, she made a decision that has American citizens and politicians up in arms: She canceled the Gainful Employment Rule that President Obama put into effect in 2015. This rule held colleges to certain standards so that students would be more financially stable after graduating.

The Department of Education claims that the rule unfairly targeted for-profit schools. Rather than make adjustments to the regulations, Secretary DeVos chose to repeal the Gainful Employment Rule completely. This repeal will become effective July 1, 2020.

People may be divided on this issue, but most can agree that DeVos’ decision will impact not only the colleges that had to comply with the Gainful Employment Rule, but also students who attend those schools.

Are you curious about how this decision could affect you or your college-aged child? Read on to learn about what the Gainful Employment Rule accomplished, why DeVos appealed the rule, and how canceling the legislation could affect students.

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