SoFi Loan Volume Surpasses Alumni Capital
When we launched the SoFi Loan Program at 40 schools this April, we had high hopes for how our innovative model would disrupt the $1 trillion student loan marketplace.
And disrupt it has.
With more than $130 million of loans in process at 79 schools, the demand for our product has blown us away. Given this success, our loan volume has outpaced our alumni capital investment requiring us to put all SoFi loan programs on temporary waitlist status.
What this means for you:
- If you are a current borrower, you will not be impacted.
- If you have a complete application, please contact us at (866) 357 6342 with any questions about your status.
- If you have an incomplete application in the system, you will be placed at the top of our waitlist.
- If you have not begun an application, we encourage you to join our waitlist as we anticipate demand will remain high and loans will be funded on a first-come basis.
With a 100% repayment rate to date, we have confidence in our community-based lending model – where the interests of all members are aligned. This is what has been missing from student loans, and we look forward to renewing our funding of waitlisted loans once additional alumni capital is secured.