SoFi Blog

SoFi continues to make waves in the media this week on public radio and in print. We were thrilled to see top business radio program Marketplace bring much needed attention to important education issues. In this recent story, Amy Scott reports on the challenge of refinancing Federal student loans. While one youth advocacy group is encouraging the government to take action on this issue, SoFi already helps graduates refinance their private and Federal educational debt!

Last week, SoFi co-founder Dan Macklin was invited by Chicago Booth to participate on a social enterprise panel in San Francisco.  Local alumni from the University, prospective business school students, and other members of the community were in attendance to hear the panel’s take on the future of social entrepreneurship.

Much has been written about the new income based repayment (IBR) rules the President recently signed into law. Notably, maximum payments on qualifying federal loans are now capped at 10% of disposable income rather than 15% before, and after 20-years, any remaining balances are forgiven, versus 25-years before.

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.

Since Hurricane Sandy first hit the East Coast, our thoughts at SoFi have gone out to all those affected. Much of the devastation is still being realized, and we continue to be saddened by the challenges many face as a result of this terrible storm. Beyond the significant hardship, however, we have been impressed by the resilience of people, the strength of communities, and how both neighbors and strangers can come together in these difficult times.