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SoFi Blog

Tips and news—
for your financial moves.

Undergraduate vs. Graduate Student Loans: 6 Ways They Differ

Heading off to graduate school? You’re probably not a newbie at the financial aid process after your years as an undergraduate. You might even have a few things to say about the increase in graduate student loan borrowing and the $1.3 trillion in outstanding student debt that’s become a key 2016 presidential campaign issue.

However, it’s a mistake to assume that graduate student loans are the same as undergraduate loans. There are actually significant differences between the two, and knowing those differences can be the key to saving money on your grad school debt in the long run. Here are six key factors to consider when taking out graduate school loans.

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What do ‘Bankless’ and ‘Great’ Mean to us? Our CEO breaks it down.

We created SoFi to do something huge – transform a retail-banking paradigm that hasn’t changed for 50 years. We want the world to demand something better than the old transactional and impersonal financial model. We want to deliver a solution that integrates money, career and relationships – the things that really matter to people. For the first time in SoFi’s history, we have used mainstream media to get our message out using two key themes: “Bankless” and “Great”. I want to talk about what these themes mean to us.

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What makes our members #SoFiGreat?

When you apply for a loan, most banks look at the same criteria when evaluating your application – things like your debt-to-income ratio. These factors give banks a good idea of your history with debt, but they don’t say much about your ability to pay it back in the future.
         
At SoFi, we’ve made it our business to invest in borrowers with awesome potential. That means we go beyond the traditional methods of measuring creditworthiness to look at metrics that speak to your future financial wellbeing. In our opinion, these factors are what make our members ‘great.’ Identifying great borrowers allows us to give them great rates—and that’s just one of the reasons our members think we’re great, too.
    
So what makes a SoFi member ‘great’? Read on to find out.
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Quiz: Here’s Who You Should Date Based on Your Financial Style

Finding your soulmate in 2016 is not for the faint of heart. Singles today have to contend with misleading profile photos, creepy texts, and intense pressure to make yourself sound epic in just 500 characters or less. And even when you do make it to the first date, you may hit it off with someone only to find out their student loan balance is higher than the GDP of a small country.

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