Match Day Milestones—Medical, and Now Dental Too
Today represents a huge milestone for tens of thousands of medical students about to embark on the next stage of their medical careers: Match Day. If you’re a resident, we know you’ve been anxiously counting down the days. And if you’re friends with a 4th year medical or dental school student, we know you’ve been dealing with their anxiety. And hopefully for both of you, today is a huge relief.
We here at SoFi wish a hearty congratulations to all soon-to-be residents who have spent many sleepless nights in the library, crisscrossed the country interviewing, and are readying yourselves to become our next generation of health-care providers.
We know that attending medical school is a significant financial burden: in 2016, the average medical school debt was $190,000, with 25 percent of students holding more than $200,000. At SoFi, we’re here to support medical professionals toward their goal of getting out of debt sooner. That’s why we recently introduced Student Loan Refinancing specifically for medical residents and fellows. And we’re excited to announce today that we’ll be expanding that offering to dental residents, as well.
As medical and dental residents and fellows, you have a lot to do. Growing interest on your student loans shouldn’t stand in the way. With SoFi, you can refinance your federal and private student loans while in residency and reduce your payments to just $100/month for up to four years.1 And now’s the time to lock in your rates—as you may have read, interest rates are rising.
In just five short months, we’ve reached over $100M in funded volume specifically for our medical resident and fellow loan product across over 500 new members. Not to mention, we’ve done over $25B in total funded loan volume for all student loans. We know there’s a need, and we’re here to provide support for medical professionals during residency and beyond.
SoFi is here to support you on all of the financial journeys life may take you with the tools, resources, and products tailored just for you to make your life easier, including SoFi membership, which includes access to career counselors, financial advisors, and complimentary, exclusive member events.
Terms, conditions, and state restrictions apply; see SoFi.com/eligibility for details. SoFi Lending Corp. or an affiliate is licensed by the Department of Financial Protection and Innovation under the California Financing Law, license number 6054612. Advisory services are offered through SoFi Wealth, LLC.
1 The minimum monthly payment of $100 while in the Residency Period may not pay all of the interest due each month, which will likely result in negative amortization and a larger principal balance when you enter the Full Repayment Period. Dental residents and fellows are unable to receive additional tuition liabilities for the duration of their Residency Period; see SoFi.com/eligibility for details. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE or REPAYE. In addition, federal student loans offer deferment and forbearance options that are not available for SoFi Lending Corp. or an affiliate Medical or Dental Resident Refinance Loan borrowers.