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.

SoFi Blog

Tips and news—
for your financial moves.

How to Pay Off Student Loans Faster Using Momentum

Paying off student loans is all about momentum and resourcefulness. Staying current on your payments—or ideally getting ahead of them a bit—can give you the motivation you need to tackle and clear your student loan debt quickly.

When it comes to student loan repayment, there are two great ways to build momentum: prepaying (or paying more than the monthly minimum) and reducing interest rates (through student loan refinancing). Here are five tips to help you leverage these strategies to build momentum and make it work in your favor – so you can make student debt a distant memory sooner rather than later.

Read more

5 Online Financial Calculators to Power Your Personal Finances

Are you wondering how much money you can save if you refinance student loans? How many years you have to keep saving to retire comfortably? Should you rent or buy?

Sure, you could take pen to paper or punch some numbers into a calculator in order to figure out how long it would take you to do these things. But for most of us, time is a precious commodity that we’d rather not waste on such manual tasks.

Thankfully, there are a lot of great online financial calculators available to help with these important financial decisions. Here is a quick summary of five tools that can power your personal finance prowess.

Read more

Should You Go to Grad School? 3 Questions to Ask First

The “should I go to grad school?” question is a lot different today than it was just a few years ago.

Between 2000 and 2012, graduate programs were the fastest growing segment of the higher education market, with the annual production of master’s degrees increasing 63% during that timeframe, according to federal data. In particular, enrollments spiked after the 2008 global financial crisis, when many people returned to school to bolster prospects in a depressed job market.

Read more

Considering Grad School? This Factor Can Help You Decide

If you’re thinking about going to graduate school, you’ve probably got a lot of questions – things like which program to pursue, what schools to consider, and whether to attend full- or part-time. You’re probably also wondering how to measure whether the investment in another degree will be worth it in the end.

While there are many non-monetary things to consider, like impact on professional development and job satisfaction, it’s important to keep the big picture in mind. Given the high cost of grad school (often accompanied by student loan debt), having a sense of the financial outcome the degree will provide can help you make a more informed decision about making such a big investment.

Read more
TLS 1.2 Encrypted
Equal Housing Lender