SoFi Blog

If you’re unable to make payments on your student loans, you might be considering some extreme options, like leaving the country, going underground, or building a time machine. But there are other, more practical options out there, such as forbearance. What is forbearance, you ask? It’s a federal program that can help postpone payments for qualified applicants.

Sounds like a perfect solution, right? Not so fast—it’s a little more complicated than that.

While you’ll temporarily be able to stop making payments, interest will continue to accumulate on your loan. This interest gets added to your balance when the loan switches out of forbearance and back to your payment plan.

The past month has been extremely active when it comes to initial public offerings (IPOs) from major companies in tech. For some, like Lyft , whose company stock suffered after their IPO, April can really be the cruelest month. But others, like Zoom , experienced sky-high gains.

Residency can be both exhilarating and terrifying. You survived med school and are officially a doctor. You’re finally practicing medicine in the real world. But behind the excitement and responsibility is stress.

As a resident, you’re working crazy hours, running on minimal sleep, all while trying to save lives and make no mistakes. On top of all that, many residents are acclimating to life in a new city. And trying to figure out how to pay off a boatload of medical school debt in residency.

As the saying goes, first comes love, then comes marriage. But after the joyous celebration, what really happens in the first year—and beyond—of wedded bliss?

SoFi recently partnered with Zola , the company reinventing wedding planning and registry with free wedding websites, beautiful wedding paper, the best wedding registry, and more. We’re excited to say that as of today, Zola couples can register for their financial goals like a joint investment account or help with student debt repayment with SoFi.

“Zola’s new partnership with SoFi helps guide couples through the process of creating joint bank accounts so they can save for the future. Couples already rely on Zola to easily plan their wedding and register, so now we are helping them make the transition to newlywed life a little easier too,” says Jennifer Spector, Zola’s Director of Brand.

As part of the partnership, Zola and SoFi surveyed over 1,000 newlyweds* to uncover their attitudes toward money.

In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more.
Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would be beneficial to our members, and will make sure to call it out when we do. Our reporting otherwise is for informational purposes only, and shouldn’t be construed as an endorsement.

The Trump Administration has proposed a cap on the amount that parents and graduate students would be able to borrow from the federal government to pay for higher education. The administration says their effort is an attempt to curb tuition costs and student loan debt, which reached an outstanding $1.465 trillion in late 2018. Here’s a look at what these changes might mean for parents and grad students.