SoFi Blog

Tips and news—
for your financial moves.

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Pros & Cons of Paying off Student Loans Early

How many college graduates have responded to travel invitations or big life purchases with, “Sure, as soon as I pay off my student loans.” It’s a burden that can saddle a graduate for years after the last day of classes, but what if smart planning could erase that debt sooner rather than later?

But we should first mention that this member’s story is just an example we can learn from—and what worked for them might not work for someone else. Following in her footsteps might not yield the same results, because everyone’s finances and debt payoff strategy is different. But the key takeaways from these members’ repayment approaches might help if you’re currently crafting a plan to knock out your student debt.

Erika Jimenez, a member of the SoFi Community, is an MBA graduate who left grad school with around $50,000 in debt. At first, she said she was resigned to paying it off over the next nine to 10 years. But after paying for three years and only making a $10,000 dent in her total balance, she decided it was time to revisit her options.

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A Look at Andrew Yang’s Universal Basic Income Plan

If you’ve kept up with the democratic debates or campaigns recently, you may have heard the term universal basic income, or UBI, tossed around.

The program’s biggest proponent, democratic candidate Andrew Yang, says that a universal basic income will be key to protecting the American economy in the future, especially as more jobs are replaced by automation and technology. His plan for a “Freedom Dividend ” would give Americans $1,000 a month, which he argues would increase productivity and boost economic growth.

Here’s a look at what universal basic income is, Yang’s proposed plan, and how adopting a UBI could possibly affect you in the future.

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August Monthly Market Commentary

As many of us enjoyed the final month of summer, plenty of attention was focused on a somewhat bumpy August which delivered political turmoil, escalations in a trade war, and concern in the fixed income market. Overall, the stock markets ended the month down slightly, so sit back and catch up on some market moving news.

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How Much Does it Cost to Repair a Foundation?

Like the roots of a tree, your home’s foundation is essential. Without it, your home is anchorless, and if there’s a problem, the rest of your home will reflect that.

Not only does your home’s foundation keep the house standing up, it also works as a barrier for moisture, cold, and movement beneath the ground. Like a tree’s roots, the foundation is essential, and your home couldn’t be here without it.

The average foundation weighs 7.5 tons , and when built properly, it’s meant to last several lifetimes. Issues in your foundation will likely mean a costly repair, but nonetheless is essential to the health and longevity of your property.

Read on to get a proper foundation on foundations, as well as the types of repairs and costs associated with them.

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Changing Careers So Soon After Graduation

Do you find yourself dreading the commute to work in the mornings? Do you feel like the work you’re doing isn’t fulfilling or interesting, even though you majored in this very subject? While the prospect of a career change so early in your life can be scary, it may be worth it for your future success.

A job change requires an investment of time and possibly money. But if you’re unsatisfied and are looking for a new career, making the decision now is the first step toward the rest of your life.

Here are some things to consider as you think about changing jobs to a new field or industry.

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