Alumni-Funded Student Loans from SoFi Now Available for the Upcoming 2012-2013 School Year
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.
So today we are expanding our alumni-funded SoFi program to try to meet the needs of current students and their families. We’re expanding to 45 schools and are now making new loans to cover costs for the 2012-13 academic school year for undergraduate students and graduate business school students. We’d always planned to get to this point, but we’re moving sooner than we expected after hearing from so many people who are looking for better funding alternatives now.
Everyone here at SoFi knows that our borrowers would much rather not be in the position of even needing loans in the first place. I’ve never met anyone who wants to take out student loans. But if you have to borrow money to pay for school, we’re going to do all we can to put together the best deal we can.
I know it can be confusing to try to figure all of this out, and we want you to consider and evaluate all of your options. If you have any questions about SoFi’s alumni-funded loans, just call us at 866-357-6342 or send us an email at [email protected]. We’ve got real people right here in our San Francisco our office who can help walk you through the process and answer your questions.
One other thing you should keep in mind, the number of loans we can make at each school for the upcoming school year is limited. We’ll process as many loans as we can on a first-come, first-served basis until the alumni-funded loan pools at each school have been completely allocated. If you’re interested in SoFi, let us know soon.
Julie, SoFi Marketing