student_loan Archives

Jan

2026

A smiling woman in a bright pink blazer speaks with a group of young men and women who are gathered around her.

A Look Into the Public Service Loan Forgiveness Program

By Maureen Shelly | Debt Payoff, Fresh Out of School, Student Loans, student_loan | No Comments

If you work in public service for a government agency or nonprofit, you may be able to have the remaining balance on your federal student loan forgiven after a certain number of payments through the Public Service Loan Forgiveness Program (PSLF).

Created by the Education Department (ED) in 2007, PSLF is intended to help public-service professionals who may earn lower salaries and struggle to repay their federal student loans. In this context, many teachers, firefighters, and social workers qualify.

However, it’s important to be aware that on October 2025, acting on an executive order signed by President Trump, the ED announced a final rule to the PSLF program, which may exclude some borrowers starting on July 1, 2026.

Below is the latest information borrowers need to know about PSLF eligibility and student debt forgiveness.

Table of Contents

What Is Public Service Loan Forgiveness?
What Are Public Service Loan Forgiveness Jobs?
Who Is Eligible for the Public Service Loan Forgiveness Program?
Applying for Public Service Loan Forgiveness
Current State of the Program
Pros and Cons of the Public Service Loan Forgiveness Program
Alternatives to the Public Service Loan Forgiveness Program
FAQ

Key Points

• Under PSLF, federal Direct Loan balances are forgiven after 120 qualifying monthly payments and working for an eligible employer.

• Eligibility requires working in public service for a qualified government or 501(c)(3) non-profit organization, including full-time AmeriCorps or Peace Corps volunteers.

• Only full-time workers, meeting employer definitions or working at least 30 hours weekly, are eligible for the program.

• Only federal Direct Loans, such as Stafford, Grad PLUS, and Direct Consolidation loans, qualify for PSLF.

• Borrowers pursuing PSLF can enroll in an income-driven repayment plan to qualify for Public Service Loan Forgiveness.

What Is Public Service Loan Forgiveness?

The PSLF program provides professionals working full-time in public service with a way to ease the burden of their student loan debt. After making 120 qualifying monthly payments under an eligible repayment plan, such as income-driven repayment, and by working full-time for a qualifying employer, the remaining balance of a borrower’s federal Direct Loans will be forgiven.

What Are Public Service Loan Forgiveness Jobs?

Borrowers working as teachers, firefighters, first-responders, nurses, military members, and doctors may qualify for PSLF. But with this program, it is not only the type of job you have that determines if you can get forgiveness, but also the type of employer.

Currently, qualifying employers include federal, state, local, tribal government and non-profit organizations. (As noted above, the new final rule may affect which organizations qualify, starting July 1, 2026.)

To find out if your employer currently qualifies for PSLF, you can use the Federal Student Aid employer eligibility search tool.

Who Is Eligible for the Public Service Loan Forgiveness Program?

The way that PSLF works is that borrowers must meet certain eligibility criteria to qualify. These criteria include:

Work for a Qualified Employer

Part of PSLF eligibility requires working for a qualified government organization (municipal, state, federal, military, or tribal) or a qualified 501(c)(3) non-profit organization. Full-time AmeriCorps or Peace Corps volunteers are also currently eligible for PSLF.

Some other types of non-profits also qualify, but labor unions, political organizations, and many other non-profits that don’t have 501(c)(3) status do not qualify. Working for a government contractor doesn’t count; you have to work directly for the qualifying organization.

Only full-time workers are eligible — that is, workers who meet their employer’s definition of full-time or work a minimum of 30 hours per week. People employed at multiple qualifying organizations in a part-time capacity can be considered full-time as long as they’re working a combined 30 hours per week.

Having Eligible Loans

Only federal Direct loans, including Stafford loans, Grad PLUS loans (but not Parent PLUS loans), and Federal Direct Consolidation loans, are eligible for PSLF.

If you hold Federal Family Education Loans (FFEL) or Perkins loans, you need to first consolidate them into a Direct Consolidation Loan for them to be eligible for PSLF. Just be aware that unless your Direct Consolidation loan was disbursed on or before October 1, 2024, any payments you made on the FFEL Program loans or Perkins Loans before you consolidated will not count toward the 120 qualifying payments for PSLF.

Private student loans are not eligible for PSLF.

Recommended: Student Loan Forgiveness Guide

Applying for Public Service Loan Forgiveness

To apply for the PSLF program, you’ll need to take the following steps:

1. Consolidate FFEL Program and Perkins Loans

As noted above, borrowers with FFEL Program and Perkins Loans must consolidate them with a Direct Consolidation Loan to be eligible for PSLF.

However, as mentioned, payments on FFEL and Perkins loans included in a Direct Consolidation Loan that was disbursed on or after October 1, 2024, will not count toward PSLF. Your payment count on the new Direct Consolidation Loan will start at zero.

2. Sign Up for an Income-Driven Repayment Plan

There are now three available income-driven repayment plans to choose from — Pay As You Earn (PAYE), Income-Contingent Repayment (ICR), and Income-Based Repayment. These plans are designed to make student loan debt more manageable by giving you a monthly payment based on your discretionary income and family size. You must enroll in one of these plans to qualify for PSLF.

Note that any borrowers on the SAVE (Saving on a Valuable Education) plan have been placed in forbearance due to a court injunction; the time in forbearance does not count toward PSLF. Those who are eligible need to switch to one of the other three IDR plans to continue making qualifying PSLF payments.

3. Certify Your Employment

To certify your employment, use the PSLF Help Tool. You can either print out the form for you and your employer to sign and then send it in for approval, or you can sign the form electronically and the Education Department will email your employer and request their electronic signature.

4. Make 120 Qualifying Monthly Payments

You must make these qualifying payments while you’re employed by a qualified public service employer. If you switch employers you can still qualify as long as you continue to work for a qualifying organization — but you will have to certify your employment with your new employer.

5. Apply for Forgiveness

After you make your final payment toward PSLF, you will need to fill out and submit a PSLF form for forgiveness.

Current State of the Program

Because the program was created in 2007, the first borrowers to qualify for loan forgiveness applied in 2017. However, early estimates by the Government Accountability Office (GAO) reported the denial rate as more than 99%. At the same time, many borrowers weren’t even aware that the forgiveness program existed.

In 2022, the Biden administration worked to address these issues by introducing a “limited PSLF waiver,” which allowed student loan holders to receive credit for payments that previously didn’t qualify for PSLF. That was later followed by an IDR account adjustment program. In October 2024, the administration said that more than 1 million public servants had received debt relief through PSLF.

In March 2025, President Trump signed an executive order directing the Education Department to revise the PSLF program. In October 2025, the department announced the final rule to exclude organizations that have a “substantial illegal purpose.” Because the new rule changes the definition of a qualifying employer, it could restrict eligibility for PSLF. The rule is scheduled to go into effect on July 1, 2026, though legal challenges to the rule have been filed. For now, the PSLF program is not changing, and those enrolled in PSLF do not have to take any action, according to the ED.

Pros and Cons of the Public Service Loan Forgiveness Program

There are a number of advantages of the PSLF program, but there are some drawbacks as well. These are some of the benefits and disadvantages to consider.

Pros of PSLF

1. The balance of your student loans is forgiven after a set period of time. This can result in significant debt relief for qualifying borrowers working in the public sector.

2. The amount forgiven is typically tax-free when it comes to federal taxes. Because it generally isn’t considered taxable income, the amount forgiven under PSLF isn’t subject to federal taxes, unlike other loan forgiveness programs. (Some states may tax the amount, however.)

3. By offering forgiveness, PSLF encourages professionals to work in public service roles. Professionals in qualifying jobs are making a difference, and your government appreciates it enough to give you a break on your federal student loans.

4. Those pursuing PSLF may have lower monthly student loan payments than they would otherwise because they are on an income-driven repayment plan that bases their payments on their discretionary income and family size.

Cons of PSLF

1. The rules regarding PSLF— including the types of loans, employers, and repayment plans that qualify — are strict.

2. The time commitment is long-term. Borrowers in the program must be employed with a qualifying public service employer — potentially earning a lower salary than they would in the private sector — for at least 10 years.

3. The process to enroll in PSLF and achieve forgiveness can be quite time-consuming and complex.

4. There is some uncertainty regarding the program. The new final rule scheduled to be implemented by the Education Department on July 1, 2026 could restrict some public service organizations and their employees from PSLF.

Alternatives to the Public Service Loan Forgiveness Program

For borrowers looking for student loan debt relief, there are other options besides PSLF. For example, the Teacher Loan Forgiveness program is available to full-time teachers who have completed five consecutive years of teaching in a low-income school. And borrowers reaping their loans under an IDR plan are also eligible for forgiveness after 20 or 25 years.

These federal forgiveness programs do not apply to private student loans. If you are looking for ways to reduce your interest rate or lower your monthly payments for private student loans, refinancing your student loans with a private lender may be an option to explore. When you refinance, you replace your existing loans with a new loan that, ideally, has a lower interest rate, which could reduce your monthly payments potentially saving you money.

However, it is important to be aware that refinancing federal student loans with a private lender may make you ineligible for the Public Service Loan Forgiveness program as well as other federal benefits, such as income-driven repayment and student loan deferment.

The Takeaway

The Public Service Loan Forgiveness program is one way that eligible borrowers working in public service may be able to have their federal student loans forgiven. Although changes to the program are scheduled to take place in July 2026, for now, the program is proceeding as usual.

Borrowers whose student loans aren’t eligible for PSLF may want to consider different options, including other forgiveness programs or student loan refinancing.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

Who qualifies for PSLF?

To qualify for PSLF, borrowers must have federal Direct loans and work full-time in public service for a qualifying non-profit or government agency. They must make 120 qualifying payments under an eligible repayment plan, such as income-driven repayment.

What types of loans are eligible for Public Service Loan Forgiveness?

Only federal Direct loans are eligible for PSLF. Other federal loans, such as Perkins Loans and Federal Family Education Loans (FFEL) must be consolidated into a federal Direct Consolidation Loan to be eligible.

What is the downside of Public Service Loan Forgiveness?

Some downsides of Public Service Loan Forgiveness include strict eligibility rules and a long-term commitment to working in public service — typically at least 10 years — before forgiveness may be achieved. Additionally, those employed in public service jobs may earn lower salaries than individuals employed in private sector jobs.

SoFi Student Loan Refinance
Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers. Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SOSLR-Q425-066

Jan

2026

A vet holding a tablet in one hand while examining a dog that is lying on an exam table.

What Is the Average Student Loan Debt for Veterinarians?

By Rebecca Safier | Fresh Out of School, Student Loans, student_loan | Comments Off

If you’re an animal lover, a career as a veterinarian can be deeply rewarding. However, you may end up with significant student loan debt after earning your Doctor of Veterinary Medicine. According to the American Veterinary Medical Association (AVMA), 2025 veterinary school graduates with debt owed an average of $212,499 upon graduation.

Debt of this magnitude can take a long time to pay off, but there are programs that can help make repayment more manageable. Here’s a closer look at the average vet school debt and costs, plus tips on how to manage your veterinary student loan debt.

Table of Contents

Overview of Veterinary Education Costs
Current Average Student Loan Debt for Veterinarians
Factors Influencing Veterinary Student Loan Debt
Trends in Veterinary Student Loan Debt
Impact of Student Loan Debt on Veterinarians
Career Choices and Specializations
Strategies for Managing Veterinary Student Loan Debt
FAQ

Key Points

• Veterinary school graduates face significant student loan debt, averaging $212,499 for the class of 2025.

• The cost of veterinary school can exceed $200,000 for in-state students and $275,000 for out-of-state students.

• Strategies to manage veterinary student loan debt include income-driven repayment plans, loan forgiveness opportunities, and refinancing.

• Loan repayment programs are available for vets, such as the USDA’s Veterinary Medicine Loan Repayment Program.

• Veterinary graduates have strong prospects for employment after graduation and earn an average starting salary of $129,000.

Overview of Veterinary Education Costs

Veterinary school typically spans four years after an individual earns an undergraduate degree and costs an average of more than $200,000 for in-state residents and $275,000 for out-of-state students, according to the Veterinary Information Network Foundation.

The American Association of Veterinary Medical Colleges (AAVMC) found that resident four-year tuition ranges from $78,588 to $259,720. While these figures reflect tuition rates, there are additional costs involved with paying for vet school. These include room and board, transportation, books, and other living expenses.

For nonresidents, total costs can range anywhere from $200,740 to $389,251, according to the AAVMC.

Current Average Student Loan Debt for Veterinarians

Given the high cost of veterinary school tuition, it’s not surprising that vet school debt reaches well into six-figure territory.

National Average Student Debt Figures

In 2025, the national average student debt among all veterinary school graduates was $174,484. Among the veterinary school graduates who took out student loans, the average veterinary student debt was higher at $212,499.

For some of these graduates, student loan refinancing might be an option worth considering to help make repaying their vet school debt more manageable, especially if they can qualify for lower interest rates and better loan terms.

Comparison to Other Medical Professions

While the average veterinary student debt is high, it’s not the highest among medical professions. Here’s how veterinary debt compares to the average debt of a bachelor’s degree and other medical programs.

Program	Average Debt
Bachelor’s	$35,639
Pharmacy school	$170,444
Veterinary school	$212,499
Medical school	$216,659
Dental school	$280,700

Recommended: Student Loan Debt by Major

Factors Influencing Veterinary Student Loan Debt

The main factors that influence student debt for veterinarians are the high cost of veterinary school, the price of room and board, and in-state vs. out-of-state tuition rates.

Cost of Veterinary School

Four years of veterinary school can cost more than $200,000 for in-state residents and over $275,000 for out-of-state residents. The majority of veterinary students (over 80%) borrow student loans to cover costs.

Some factors that can influence how much you have to pay to become a veterinarian include:

• In-state vs. out-of-state tuition rates: Tuition rates are lower at public veterinary schools for in-state residents and higher for out-of-state residents. The highest costs are generally at private veterinary schools.

• Cost of living in your location: Along with tuition and fees, you have to factor in living expenses. These expenses may be a lot higher in an urban area than a rural one and can vary widely depending on where your school is located.

• Room and board: Costs for housing and food are another major expense. You can save money by commuting or sharing an apartment with roommates as well as by buying your own groceries over paying for a university meal plan.

• Grant and scholarship availability: Grants and scholarships can help defray the costs of veterinary school and don’t have to be repaid, but they can be competitive. Apply to as many opportunities as you can to try to access this gift aid for school. Don’t forget to submit the Free Application for Federal Student Aid (FAFSA), which helps you receive access to federal financial aid.

• Personal savings: If you have savings you can put toward veterinary school, such as money in a 529 college savings plan, you may not have to borrow as much in student loans.

Trends in Veterinary Student Loan Debt

While the average veterinary school debt is high and has risen since 2023, it decreased in previous years. In 2022, the average student debt for all graduates was down by more than 6% from 2020. Among student loan borrowers, it was down 5% from 2020.

Total debt-to-income ratios improved somewhat in 2022, meaning that veterinary graduates were slightly better able to pay off their student loans than in previous years. In 2025, the average ratio was 1.4-to-1 for graduates who started working full-time, the same as in 2024. That means for every $1 earned in gross annual income, grads owed $1.40. The average graduate with a salary of $100,000, for example, might owe $140,000 in veterinary school debt.

Impact of Student Loan Debt on Veterinarians

Although student loan debt can be a major financial burden for veterinarians, it’s not their top motivating factor when choosing an offer of employment. According to a 2024 AVMA survey, most new graduates (82%) said they chose their jobs for the mentorship opportunities.

After that, the top reasons for selecting an employment offer were location, people, and compensation.

Career Choices and Specializations

Veterinarians have strong prospects for employment after graduation, with about 88% receiving an offer for a job or position in advanced education after leaving school. Most graduates go into private practice, followed by internships and then public practice.

In 2024, the distribution of new graduates accepting positions was:

• Private practice: 65.1%

• Internships: 27.6%

• Public practice: 2.6%

For the class of 2025, the percentage of graduates who chose to work with companion animals was the greatest (72.6%), followed by those who went into mixed animal practice (10.9%), equine practice (7.9%), and food animal practice (3.2%).

The average starting compensation was $129,000 among 2025 veterinary graduates who got a full-time job.

This is how much a veterinarian makes on average, broken down by job type:

• Private practice: $131,210

• Public practice: $105,829

• Residencies: $54,847

• Internships: $56,705

Some veterinarians also scored additional compensation in the form of signing bonuses and other benefits:

Benefit	Percentage that received benefit	Average benefit amount
Signing bonus	61%	$19,777
Moving allowance	37%	$5,688
Student loan repayment	15%	$15,628
Housing allowance	3%	$11,464

Strategies for Managing Veterinary Student Loan Debt

If you owe veterinary student loans, here are some strategies that can help you pay off your debt:

• Explore loan forgiveness and repayment assistance programs: You may qualify for student loan assistance from a federal or state program depending on where you work. For instance, the Public Service Loan Forgiveness program is available to veterinarians working in shelters, zoos, or aquariums, as military veterinarians, or in other public service jobs. The USDA’s Veterinary Medicine Loan Repayment Program offers up to $40,000 in student loan help each year to vets committed to working in shortage areas for at least three years. This student loan forgiveness guide can help you discover other forgiveness opportunities that may be available to you.

Some states also have student loan repayment assistance programs (LRAPs) for veterinarians who work in high-need areas. Unlike federal programs, state LRAPs may offer assistance toward both federal and private student loans.

• Compare repayment plan options: If you owe federal student loans, as of January 2026 you have several repayment plans to choose from, including the standard 10-year plan, the extended 25-year plan, and income-driven repayment plans. (Repayment plans are changing for loans disbursed after June 2026.) Income-driven plans can be helpful if you need to adjust your monthly payments in accordance with your income. The Income-Based (IBR) plan can also end in loan forgiveness if you still owe a balance after 20 or 25 years.

• Make extra loan payments to get out of debt faster: If you can afford it, making extra payments on your veterinary student loan debt can speed up repayment. It can also save you money on interest, which can be helpful because federal student loan interest rates have generally increased over the past four years, though rates for the 2025-2026 school year have seen a small decrease since the previous year.

• Look into student loan refinancing: Refinancing your student loans may help you get a better interest rate if you qualify, which could save you a significant amount of money on your loans. You’ll also get the chance to combine multiple loans into one loan and select new repayment terms. Keep in mind, though, that you may pay more interest over the life of the loan if you refinance with an extended term, and refinancing federal loans turns them private, meaning you’ll forfeit access to federal benefits and programs.

The Takeaway

Working as a veterinarian is an exciting career choice with solid employment prospects, but earning your degree comes with costly tuition and potentially high student loan debt. If you end up borrowing student loans, consider strategies for managing your debt, such as income-driven repayment, student loan assistance programs, or refinancing student loans for better rates or terms if you qualify for them.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

What is the current average student loan debt for veterinarians?

The current average student debt for veterinarians is $174,484 among all graduates and $212,499 among graduates who have taken out student loans.

How long does it typically take to repay student loans for veterinary school?

It can take a decade or longer to repay student loans for veterinary school. The current standard repayment plan in January 2026 spans 10 years, and alternative repayment options may last 20 or 25 years. You can look into loan forgiveness programs and loan repayment programs for help repaying your loans if you’re eligible.

Are there loan forgiveness or repayment programs specifically for veterinarians?

Yes, there are loan repayment programs specifically for veterinarians. The USDA’s Veterinary Medicine Loan Repayment Program is a national program that offers up to $40,000 in student loan repayment each year to vets who work in a shortage area for at least three years. Some states also offer student loan repayment assistance programs to qualifying veterinarians, so check with your state to see what’s available.

Photo credit: iStock/Mr Vito

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

SOSLR-Q126-014

Jan

2026

Applying for No-Interest Student Loans

By Julia Califano | Fresh Out of School, Student Loans, student_loan | No Comments

Applying for no-interest student loans can significantly reduce the cost of earning a degree, making higher education more accessible without the long-term burden of accumulating interest. These unique funding options — typically offered by nonprofit organizations, state programs, and select institutions — allow eligible students to borrow responsibly while keeping repayment affordable and predictable.

While these loans are relatively rare, and amounts tend to lower than other types of student loans, no-interest student loans do exist and may be worth looking into for the potential savings. Read on to learn how interest-free student loans work and where to find them.

Key Points

• No-interest student loans do not charge interest and require repayment of only the principal amount borrowed.

• These loans are typically offered by nonprofit organizations, state governments, and universities.

• Although rare and usually for smaller amounts, no-interest loans can significantly reduce overall student debt.

• Applicants for these loans often undergo a process similar to scholarship applications, including essays and interviews.

• It’s advisable to complete the Free Application for Federal Student Aid (FAFSA) as some no-interest loans use it to determine financial need.

What Is a No-Interest Student Loan?

Interest-free student loans are loans that do not accrue interest. Unlike grants and scholarships, the loan amount must be repaid, but because there are no interest charges, the amount repaid by the borrower remains the same as the original amount borrowed. Traditional student loans, whether federal or private, all come with interest rates that are either fixed or variable.

The interest rates on federal student loans are fixed and are set annually by Congress. For the 2025-2026 school year, the interest rate on Direct Subsidized or Unsubsidized Loans for undergraduates is 6.39%, the rate on Direct Unsubsidized Loans for graduate and professional students is 7.94%, and the rate on Direct PLUS Loans for graduate students, professional students, and parents is 8.94%.

While federal student loan rates are the same for every borrower, private student loan rates range based on the lender, the type of interest rate (fixed or variable), and the borrower’s credit score. Interest on private student loans can run anywhere from 3.19% to 17.95%, according to Education Data Initiative.

Whatever the interest rate on a student loan, you will end up paying more than you borrow. No-interest student loans can be an attractive alternative. Here are some places to look for interest-free loans:

• Schools: Some colleges and universities offer no-interest loans for current students to cover emergency expenses.

• States: You may be able to find an interest-free student loan through your state’s education agency. For example, Massachusetts offers students who demonstrate financial need and attend a qualifying school in Massachusetts a no-interest loan for up to $4,000 each academic year.

• Nonprofit organizations: Some foundations and nonprofits offer no-interest student loans. These loans can be set up in different ways. In some cases, you can get a small loan amount; in others, the organization will pay your remaining cost of attendance. Some are awarded based on merit, while others are awarded based on financial need.

Applying for Interest-Free Student Loans

The application process for most interest-free loans resembles the application process for grants or scholarships more closely than a traditional loan application.

It’s a good idea to fill out the Free Application for Federal Student Aid (FAFSA®), even if you want to focus on loans without interest. The FAFSA determines your eligibility for federal aid, including grants, scholarships, and federal student loans. Some interest-free loans use the FAFSA to determine financial need.

And while federal loans do accrue interest, they typically have lower rates than private student loans. Federal student loans also come with benefits, such as income-based repayment and forgiveness programs, that private student loans and no-interest loans may not offer.

Interest-free student loans are often local and state-based, rather than national. They may require proof of residency in a certain state. Some may also have an essay requirement, academic requirements, and might even require an interview.

The process is usually more intense than regular student loans because funds are limited. Some state agencies and philanthropic organizations use the term “scholarship loan” to refer to interest-free loans. Scholarship loans may also be repaid through public service.

Keep in mind though that those organizations are still separate from the government, and do not offer the same repayment plans as the loans offered through the U.S. Department of Education.

Recommended: Student Loan Interest Deduction

Subsidized Loans: No Interest Until After Graduation

Interest-free loans are relatively rare, so it’s possible that students will still need to rely on federal student aid. There are two types of federal Direct Loans available to undergraduate students: subsidized and unsubsidized.

Subsidized loans are available to undergraduates who demonstrate financial need. The U.S. Department of Education pays the interest accruing on the loans while you’re in school, during your six-month grace period, and when your loans are in deferment.

On the other hand, unsubsidized loans are available to undergraduate and graduate students, and they don’t require that students demonstrate need in order to qualify. Interest accrues while you’re in school and during grace periods, deferment, or forbearance — and you’re responsible for paying the interest.

Federal student loans also offer a few different payment plans, including income-driven repayment plans, so that borrowers can find the option that works best for them. There are also borrower protections like deferment or forbearance that can act as a safety net for those who find themselves facing financial difficulties down the road.

The Takeaway

No-interest student loans, sometimes called scholarship loans or interest-free loans, are loans that do not accrue interest at all. While not common, there are some nonprofits, state agencies, schools, corporations, and religious organizations that offer interest-free loans to students.

In case you’re not able to find or qualify for a no-interest loan, it’s a good idea to fill out the FAFSA to access other forms of financial aid, including grants, scholarships, and federal student loans.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

Cover up to 100% of school-certified costs including tuition, books, supplies, room and board, and transportation with a private student loan from SoFi.

FAQ

What is a zero-interest student loan?

A zero-interest student loan is a loan where you borrow money for your education but aren’t charged any interest — so you only repay the principal amount you borrowed.

Who can qualify for zero-interest student loans?

Typically, these loans go to low-income students, residents of certain states, or borrowers who meet specific financial-need criteria or eligibility requirements set by nonprofit or state programs.

Where can students find zero-interest loan programs?

Many are offered through state-funded programs — for example, state-administered no-interest loan initiatives — or through nonprofit organizations dedicated to making higher education more affordable.

About the author

Julia Califano

Julia Califano is an award-winning journalist who covers banking, small business, personal loans, student loans, and other money issues for SoFi. She has over 20 years of experience writing about personal finance and lifestyle topics. Read full bio.

SoFi Private Student Loans
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Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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SOISL-Q425-052

Dec

2025

A smiling woman wearing a colorful headscarf calculates the cost of extending student loan repayment terms at her desk.

Guide to Extending Student Loan Repayment Terms

By Melissa Brock | Fresh Out of School, Student Loans, student_loan | Comments Off

Did you know that you may be able to draw out student loan repayment for 20 or 30 years? That means lower monthly payments, but you’ll pay more total interest over the loan term.

If your payments are a strain, consolidating or refinancing your student loans may allow you to stretch out repayment terms and tame those monthly bills. For borrowers with federal student loans taken out before July 1, 2026, you may also consider the Extended Repayment Plan that increases the term of your loan from 10 to 25 years. While it may make your monthly payments lower in the short term, in the long term, you’ll pay more interest with any of these options.

Ahead, we look at how student loan repayment terms work, the pros and cons of extending your loan term, and other options that might help you make your monthly payments more affordable.

Table of Contents

How Long Are Student Loan Repayment Terms Usually?
What Are the Pros and Cons of Extending Repayment Terms?
How Long Can You Extend Your Student Loans For?
Refinancing Your Student Loans to a 30-Year Term
Other Ways to Reduce Your Monthly Student Loan Payments
FAQ

Key Points

• Standard student loan repayment is 10 years, but federal borrowers can extend to 20–30 years through consolidation, extended repayment, or income-driven plans (for loans taken out prior to July 1, 2026).

• Extending lowers monthly payments (e.g., $562 → $330 on $50K debt) but increases total interest costs (from ~$17K to ~$29K in the example).

• Federal consolidation allows up to 30 years of repayment, while most private lenders cap terms at 15–20 years, unless using consecutive refinances.

• Pros of extending include lower monthly payments, financial flexibility, and potential access to lower interest rates. Cons include higher lifetime interest, longer debt horizon, and loss of federal benefits if refinancing privately.

• Alternatives to reduce payments include autopay discounts, income-driven repayment plans, employer contributions, or loan forgiveness eligibility.

How Long Are Student Loan Repayment Terms Usually?

Federal student loan borrowers are automatically placed on the Standard Repayment Plan of 10 years unless they choose a different plan. They enjoy a six-month grace period after graduating, leaving school, or dropping below half-time enrollment before repayment begins.

There isn’t a standard repayment plan for private student loans, but the general repayment term is also 10 years.

In the case of both private and federal student loans, you may be able to extend your student loan payments.

For example, if you have federal student loans, you can explore the following options:

• Graduated Repayment Plan: Available to borrowers with all loans taken out prior to July 1, 2026. On this plan, you start with lower payments, and payments increase every two years for up to 10 years, or up to 30 years for Direct Consolidation Loans. Consolidation combines all of your federal student loans into one, with a weighted average of the loan interest rates, and often extends your repayment time frame.

• Extended Repayment Plan: Available to borrowers with all loans taken out prior to July 1, 2026. With the Extended Repayment Plan, you can extend your loan term to 25 years, though you must have $30,000 or more in Direct or Federal Family Education Loan Program loans.

• Income-driven repayment plan: Income-driven repayment plans allow you to make payments based on your income. This is a good option if you’re struggling to pay your monthly bill because your income is low compared with your loan payments. You may be eligible for forgiveness of any remaining loan balance after 20 or 25 years of qualifying payments or as few as 10 years if you work in public service. Keep in mind that for loans taken out on or after July 1, 2026, borrowers will only have one option for income-based repayment, the new Repayment Assistance Program.

If you have private student loans, you may be able to refinance your loans for a longer term. You can also refinance federal loans, but you’ll lose access to many of the benefits, including income-driven repayment plans and student loan forgiveness.

What Are the Pros and Cons of Extending Repayment Terms?

Let’s take a look at three pros and three cons of extending your student loan repayment terms:

Pros	Cons
Allows for lower monthly payments	You’ll pay more total interest
Gives you more flexibility	Takes more time to pay off loans
Frees up cash for other things	May have to pay a higher interest rate

Lower monthly payments can give you more flexibility and free up your money to go toward other things. However, you may pay considerably more interest over time. You’ll also spend more time paying off your loans.

Here’s an example of what extending student loan repayment can look like, using a student loan calculator:

Let’s say you have $50,000 of student loan debt at 6.28% on a standard repayment plan. Your estimated monthly payments are $562.16, the total amount you’ll pay in interest will be $17,459, and your total repayment amount will be $67,459.

• Term: 10 years

• Monthly payments: $562

• Total interest amount: $17,459

• Total repayment amount: $67,459

Now let’s say you choose to refinance. Refinancing means a private lender pays off your student loans with a new loan, and you receive a new interest rate and/or term. In this case, let’s say you opt to refinance to a 20-year term and qualify for a 5% rate. Your estimated monthly payments would be $329.98. You’d pay $29,195 in total interest, and the total repayment would be $79,195 over the course of 20 years.

• Term: 20 years

• Monthly payments: $330

• Total interest amount: $29,195

• Total repayment amount: $79,195

In this example, doubling the term but reducing the interest rate results in lower monthly payments — a relief for many borrowers — but a higher total repayment sum. You’ll pay nearly double in interest charges over the life of the loan.

How Long Can You Extend Your Student Loans For?

You can extend your federal student loan repayment to 30 years on a Graduated Repayment Plan if you consolidate your loans. Again, only borrowers with loans taken out prior to July 1, 2026 will be eligible.

Most private lenders limit refinancing to a 20-year loan term, but borrowers who are serial refinancers may go beyond that. With consecutive refinances, you can stretch a private loan term to 25 to 30 years.

Consecutive Refinances

You can refinance private or federal student loans as often as you’d like, as long as you qualify. Refinancing can benefit you when you find a lower interest rate on your student loans, but be aware of the total picture:

Pros	Cons
May save money every time you refinance	Will lose access to federal programs like loan forgiveness, income-driven repayment, and generous forbearance and deferment if federal student loans are refinanced
May allow for a lower interest rate and lower monthly payments	If you choose a longer loan term, you may pay more interest over the life of the loan
Most student loan providers don’t charge fees for refinancing, such as origination fees or prepayment penalties	You may not qualify for the best rates if you have a poor credit score

How do you know when to refinance student debt? If you find a lower interest rate, you could save money over the life of the new loan.

You can use a student loan refinancing calculator to estimate monthly savings and total savings over the life of the loan.

Refinancing Your Student Loans to a 30-Year Term

You cannot directly refinance your student loans into a 30-year term because almost all refinance lenders offer a maximum of 15- or 20-year terms. But you could take advantage of consecutive refinances to draw out payments for 30 years.

Or, you could opt for consolidation of federal student loans for up to 30 years.

Consecutive Refinance Approach

Since there’s no limit on the number of times you can refinance your federal and private student loans, as long as you qualify or have a cosigner, you can refinance as many times as you need to in order to lengthen your loan term.

Direct Consolidation Approach

If you have multiple federal student loans, you can consolidate them into a Direct Consolidation Loan with a term up to 30 years. Because the loan remains a government loan, you would keep federal student loan benefits and may even qualify for loan forgiveness after 20 or 25 years.

While extending your loan term may reduce your monthly payments in the short-term, it’s likely it will cost you more in interest in the long term. If you are struggling to make your federal loan payments, you might be better off choosing an income-driven repayment plan instead of extending your loan term.

Other Ways to Reduce Your Monthly Student Loan Payments

One of the best ways to reduce your monthly student loan payments is to talk with your loan servicer to determine your options. Some student loan servicers shave a little off your interest rate if you make automatic payments, for example.

More employers are considering offering help with student loan payments as an employee perk, too. Employers can contribute up to $5,250 per worker annually in student loan help without raising the employee’s gross taxable income. And starting in 2027, the $5,250 annual limit will be adjusted for inflation.

The Takeaway

A 30-year student loan refinance can offer real benefits, including lowering your monthly student loan payments. By stretching repayment over a longer period, you may gain more financial breathing room and improved cash flow.

But this convenience comes at a cost: extending the repayment term means paying more interest overall, and refinancing federal loans removes valuable protections such as income-driven plans and loan forgiveness.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

What is a 30-year student loan refinance?

A 30-year student loan refinance extends your repayment term to up to 30 years, significantly reducing your monthly payment by spreading the balance over a longer period. While this can improve cash flow, it typically results in paying more total interest over the life of the loan.

What is the main benefit of refinancing to a 30-year term?

The main advantage of refinancing student loans to a 30-year term is reduced monthly payments. This can free up cash flow if current payments are a financial strain.

What is a major downside to choosing a longer term student loan refinance?

Extending the repayment period means you’ll likely end up paying significantly more in total interest over the life of the loan.

About the author

Melissa Brock

Melissa Brock is a higher education and personal finance expert with more than a decade of experience writing online content. She spent 12 years in college admission prior to switching to full-time freelance writing and editing. Read full bio.

Photo credit: iStock/blackCAT

SOSLR-Q425-069

Dec

2025

An image of a piggybank with a graduation cap on its head.

Changing Student Loan Repayment Plans: Understanding Your Options

By Susan Guillory | Fresh Out of School, Student Loans, student_loan | Comments Off

If you’re working to pay off student loan debt and having second thoughts about your current repayment plan, it’s possible to make a switch. There are a number of other plans to choose from, and one of them may be a better fit.

For example, there are income-driven repayment (IDR) plans that might help reduce your monthly payments, and an Extended Repayment Plan that could give you more time to repay what you owe.

It’s also important to be aware that federal student loan repayment plans will be undergoing changes in mid-2026, as part of President Trump’s “One Big Beautiful Bill” that was signed into law in 2025. So this is a good time to explore what your options are and what it takes to switch student loan repayment plans.

Table of Contents

Student Loan Repayment Plan Options
Can You Change Your Student Loan Repayment Plan?
How Often Can You Change Your Student Loan Repayment Plan?
How to Change Your Student Loan Repayment Plan
Other Options for Lowering Your Student Loan Payment
FAQ

Key Points

• Borrowers can change their federal student loan repayment plan at any time.

• There is no limit to the number of times a borrower can switch to a new repayment plan.

• Certain repayment plans may better suit a borrower whose financial circumstances have changed.

• If a borrower is struggling to make student loan payments, switching to an income-driven plan may lower monthly payment amounts.

• Other student loan debt management strategies include loan forgiveness, deferment, consolidation, and refinancing.

Student Loan Repayment Plan Options

The average student loan debt for federal loans is $39,075 per borrower, according to the Education Data Initiative. The Education Department (ED) currently has several repayment plans for these loans. Some of them are income-driven plans that are based on discretionary income and family size. If your financial situation has changed since you started paying your loan, you might benefit from switching student loan repayment plans if you qualify.

The types of federal student loan repayment plans for federal student loans that are currently available to borrowers include:

Standard Repayment Plan

The Standard Repayment Plan is the default plan for federal student loan borrowers. This plan sets payments at a specific amount that allows borrowers to pay their loans within 10 years.

On the Standard Plan, monthly payments are fixed. Because the repayment time frame is relatively short, borrowers will likely save more money on interest than they would on a plan with a longer repayment timeline. However, their monthly payments will typically be higher because of the short loan term.

It’s important to be aware that the Standard Repayment Plan will change for loans taken out on or after July 1, 2026. The repayment term will then range from 10 to 25 years, and it will be based on the loan amount. If you owe $25,000 or less, your term will be 10 years; if you owe more than $100,000, your repayment term will be 25 years.

Income-Based (IBR) Repayment Plan

One of the three IDR plans currently available, the Income-Based Repayment Plan bases a borrower’s monthly payments on their discretionary income and family size. Most of the other IDR plans are scheduled to close down in 2027, but IBR will remain open to current borrowers.

If you qualify for the IBR plan, your monthly payment will be 10% of your discretionary income if you’re a new borrower on or after July 1, 2014, and you’ll repay the loan over 20 years. Any remaining balance at the end of the loan term will be forgiven.

Income-Contingent (ICR) Repayment Plan

The Income-Contingent Repayment Plan sets a borrower’s payments at the lesser of 20% of their discretionary income or what they would pay on a repayment plan with a fixed payment over 12 years, adjusted to their income. ICR has a repayment term of 25 years.

This repayment plan closes to new enrollees on July 1, 2027. Those already on the plan have until July 1, 2028 to switch to the IBR plan or the new Repayment Assistance Plan (RAP) that will be launched by the Education Department in July 2026.

Pay As You Earn (PAYE)

On PAYE, monthly payments are 10% of a borrower’s discretionary income, and the loan term is 20 years. To be eligible, an individual must be a new borrower as of October 1, 2007, and have received a Direct Loan disbursement on or after October 1, 2011. On PAYE, a borrower’s monthly payment must also be less than what it would be on the Standard Plan.

Like ICR, PAYE is also closing down on July 1, 2027. Those already on the plan will need to switch to the IBR or RAP plan by July 1, 2028.

The Latest on SAVE

One income-driven plan that is no longer available is the Saving on a Valuable Education (SAVE) plan. SAVE was closed to new borrowers in February 2025, when a court order blocked it. Those enrolled in the plan were placed in forbearance.

So what should you do if you are enrolled in SAVE? In December 2025, the ED announced a proposed settlement with the court that would end the SAVE plan, and said that it would “move all SAVE borrowers into available repayment plans.” ED said it would “reach out to SAVE borrowers in the coming months with more information.”

Graduated and Extended Repayment Plans

The Extended Repayment Plan allows borrowers to repay their loans over a period of up to 25 years. Because of the long loan term, monthly payments will generally be lower, but borrowers will pay more in interest over the life of the loan compared to plans with shorter terms. To qualify for this plan, you must have more than $30,000 in outstanding Direct Loans or more than $30,000 in outstanding Federal Family Education Loans (FFEL) loans.

Under the Graduated Repayment Plan, a borrower starts with lower monthly payments that are gradually increased, typically every two years, over the course of 10 years.

Can You Change Your Student Loan Repayment Plan?

You can change your federal student loan repayment plan at any time. There is no cost to changing your federal student loan repayment plan.

Depending on the type of repayment plan you’d like to switch to, however, you may need to meet certain eligibility requirements.

Eligibility Requirements and Restrictions

Some plans, such as the Extended Repayment Plan and the IDR plans, have certain eligibility requirements. For example, to be eligible for the Extended Repayment Plan, a borrower must have more than $30,000 in outstanding Direct Loans or more than $30,000 in outstanding Federal Family Education Loans (FFEL) loans.

The requirements a borrower will need to meet to qualify for an IDR plan include:

• Having an eligible loan type. Qualifying loans for IDR plans are Direct Loans (including Direct PLUS Loans for graduate or professional students, and Direct Consolidation Loans that did not repay any PLUS loans), Federal Stafford Loans, FFEL PLUS Loans made to graduate or professional students, FFEL Consolidation Loans that did not repay any PLUS loans made to parents, and Federal Perkins Loans, if these loans are consolidated.

• Meeting an income cap for PAYE and ICR. Your income must be less than what you’d pay on the 10-year Standard Plan to be eligible for these plans.

• Being a new borrower for PAYE. To qualify for PAYE, an individual must be a new borrower as of October 1, 2007, and have received a Direct Loan disbursement on or after October 1, 2011.

• Recertifying every year. Borrowers must recertify their income and family size annually to remain on an IDR plan.

How Often Can You Change Your Student Loan Repayment Plan?

There’s no limit to how many times you can change your student loan repayment plan. You can change repayment plans multiple times during the life of the loan.

There are a few things to keep in mind, though, if you’re thinking about making a switch.

Factors to Consider Before Making a Change

Be aware that every time you change your student loan repayment plan, the interest rate and amount you pay may change. This could work to your advantage if interest rates are low, but if they aren’t, you could end up paying more for your student loan if you change your repayment plan.

Also, reducing your monthly payment may extend the number of years you pay back your loan, which means you’ll pay more in interest the longer you take to repay it. With a 10-year repayment plan, for example, you’d pay less in interest overall than you would with a 25-year plan.

Finally, if you are pursuing student loan forgiveness, changing your repayment plan could affect the qualifying payments you need to make. Not all repayment plans qualify for all types of federal forgiveness.

How to Change Your Student Loan Repayment Plan

If you’re wondering how to change your student loan repayment plan, the process is relatively simple. The easiest way to do it is online.

Steps to Switch Repayment Plans Online

To get started, log into your account at StudentAid.gov. You’ll need your FSA ID. From there, follow these steps:

1. Click on “Loan Repayment.” From the drop-down menu choose the Loan Simulator and go to “I Want to Find the Best Student Loan Repayment Strategy.” The simulator will use your personal information, such as your income and dependents, to identify which plans you are eligible for.

2. You can explore the different options you’re able to choose from to compare how much you might pay on each plan. Click on “View and Compare All Plans” at the bottom. This will allow you to see your monthly payment and total payments over the life of the loan.

3. Decide which repayment plan makes the most sense for you. If you opt for an income-driven plan, you’ll need to apply for it (you’ll see an option to do that — just click on it).

4. If you choose a fixed repayment plan, like the Graduated Repayment Plan or the Extended Repayment Plan, you can contact your loan servicer to request the new plan. You can find out who your loan servicer is by going to your student loan account dashboard and scrolling to the “My Loan Servicers” section.

Documentation You May Need to Provide

To switch to an IDR plan, you may be required to provide proof of income, such as pay stubs or a recent tax return. You’ll also need to provide your family size and marital status, and your spouse’s financial information, if applicable. Once approved for an IDR plan, you’ll need to recertify each year to continue with the plan.

Your application to change your repayment plan may take some time, so be sure to continue making your current student loan payments in the meantime.

Other Options for Lowering Your Student Loan Payment

Changing repayment plans isn’t the only way to potentially lower your student loan payments. These are some of the other methods you can explore.

Loan Forgiveness

If you work full-time in public service or you’re in education, there are federal loan forgiveness programs you may qualify for, such as Public Service Loan Forgiveness (PSLF), which forgives the remaining balance on your eligible loans after 120 qualifying payments made under an eligible repayment plan while working for a qualified employer. If you’re a teacher, and you’ve taught full-time for at least five consecutive years in a low-income school or educational service agency, you might be eligible for Teacher Loan Forgiveness.

Deferment or Forbearance

Borrowers looking for a way to temporarily pause or reduce their federal student loan payments may want to consider student loan deferment or forbearance. While these two programs are similar, there are some key differences. During deferment, borrowers are not required to pay the interest that accrues on their qualifying federal loans. In forbearance, however, borrowers must always pay the interest that accrues on their loans.

Deferment is designed for borrowers with financial difficulties. Forbearance comes in two types — mandatory, which must be granted to those who qualify, such as National Guard members; and general, which your loan servicer must approve you for.

Loan Consolidation

Borrowers who have more than one student loan and are struggling to juggle multiple payments, due dates, and interest rates, may want to consider consolidating student loans to streamline things.

A Direct Consolidation Loan allows borrowers to combine multiple federal loans into one. The interest rate of the new loan is a weighted average of rates of the loans you’re consolidating, rounded up to the nearest one-eighth of a percent. Consolidation can simplify loan payment, but just be aware that it may not save a borrower money because of the weighted interest rate.

Refinancing to a Private Loan

Another option is to refinance student loans with a private lender. With refinancing, you exchange your current loans for one new private loan — ideally one with more favorable rates and terms.

Refinancing could reduce your monthly payments, especially if you qualify for a lower interest rate. Choosing a longer loan term may also lower your monthly payments. However, you might pay more interest over the life of the loan if you refinance with an extended term.

Keep in mind that refinancing federal student loans makes them ineligible for federal benefits, including income-driven repayment plans and student loan forgiveness. Make sure you won’t need those benefits before you move ahead with refinancing.

If your current federal student loan repayment plan isn’t working for you, you have the option of changing to a new plan. There are income-driven plans that might lower your monthly payments, and extended and graduated plans that could help you lower or stretch out your payments over a longer term. You can explore different repayment options on the Federal Student Aid website to see what might be a good fit for your situation.

And keep in mind that changing repayment plans isn’t the only option for making it easier to manage your loans. You could also consider student loan forgiveness, deferment, loan consolidation, and refinancing. The point is, you have choices when it comes to repaying your student loan debt.

With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.

FAQ

Can I change my repayment plan for student loans?

Yes, you can change your repayment plan for federal student loans whenever you like. You can choose a new plan, such as an income-driven repayment plan or the Graduated or Extended Repayment plans. You could also consider consolidating your loans, refinancing them, or pursuing student loan forgiveness, if you qualify.

Can you change your loan repayment plan at any time?

Yes, you can change your federal loan repayment plan at any time. And there’s no limit to how many times you can change your student loan repayment plan.

Can I switch IDR plans?

You can switch IDR plans as long as you qualify for the new plan. In addition to meeting an income cap, you must have eligible types of federal loans. Plus, in the case of the PAYE plan, you must also be a new borrower as of October 1, 2007, and have received a Direct Loan disbursement on or after October 1, 2011.

How do I know which student loan repayment plan is right for me?

To help determine which student loan repayment plan is right for you, you can use the Office of Federal Student Aid’s Loan Simulator tool. The simulator will use your personal information, such as your income, marital status, and dependents, to identify which plans you are eligible for. Then you can use the tool to compare the different plans and see your monthly payment amount on each one, plus your total payments over the life of the loan.

Will changing my repayment plan affect loan forgiveness eligibility?

It might, depending on the repayment plan you are changing to. Not all repayment plans qualify for all types of forgiveness. For example, with Public Service Loan Forgiveness, only payments made on an income-driven repayment plan or the Standard Repayment Plan count toward forgiveness. Before changing your plan, check the Federal Student Aid website to make sure that you will still be eligible for the type of forgiveness you’re working toward.

Photo credit: iStock/AlexSecret

Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.

SOSLR-Q425-050