Who should refinance their student loans?

Refinancing is a great solution for working graduates who have high-interest, unsubsidized Direct Loans, Graduate PLUS loans, and/or private loans. Federal loans do carry some special benefits, for example, public service forgiveness and economic hardship programs, that may not be accessible to you after you refinance. Check out this blog post that provide more information: When to Consolidate Federal and Private Loans by Refinancing. Or, call us for a free consultation about your particular situation.

Can I refinance both federal and private student loans?

Yes, SoFi will consolidate all qualified education loans

Am I a good candidate to refinance my student loans with SoFi?

SoFi aims to revolutionize financial services—ultimately improving the system for everyone. Today, we’re able to offer significant savings and flexibility to US citizens or permanent residents who have graduated from a selection of Title IV accredited university or graduate programs, are employed, has a sufficient income from other sources, or hold a job offer with a start date within 90 days, have a responsible financial history, and a strong monthly cash flow.

What is the difference between consolidating and refinancing?

Student loan consolidation is when you combine multiple loans into one single loan. Student loan refinancing, on the other hand, is when you get a new loan at a new interest rate and/or a new term. You can refinance both federal and private loans. Learn more here.

What's the difference between fixed and variable rate loans?

Fixed rate loans are loans that have an interest rate that does not change over the life of a loan, which means you pay the same amount each month. It also means you know with certainty the total interest that you’ll pay over the life of the loan. Fixed rate is a general term that can apply to different types of loans with a variety of uses, including student loans, mortgages, auto loans, and unsecured personal loans. Variable rate loans are loans that have an interest rate that will fluctuate over time in line with prevailing interest rates. They generally have lower starting interest rates than fixed rate loans, but the interest rate and payment amounts can change over time. Sometimes they are also known as floating rate loans. Learn more at https://www.sofi.com/fixed-vs-variable-rate-loans/

Where can I find more information about student loans in general?

Deciding how to best handle your student loan obligations can be an intimidating process. That’s why we’ve put together our Student Loan Help Center to give you guidance on payments, refinancing, budgeting, and common terminology so you can feel more confident in your journey to becoming debt free.

SoFi Student Loan Refinancing | Fixed Rates from 3.99% APR*

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY TERMS AND DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME. To qualify for refinancing, you must fulfill all SoFi eligibility requirements. SoFi only refinances student loans totaling at least $5,000 that you used to fund tuition at an eligible Title IV accredited school where you were enrolled at least 50% time. Loans currently being used to fund education for actively enrolled students are not eligible for refinancing. For more detail, see SoFi.com/eligibility. Lowest rates reserved for the most creditworthy borrowers. You may pay more interest over the life of the loan if you refinance.

Notice: 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. Information current as of 10/19/26 and subject to change. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

^†To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

^§Awards or rankings from The Money Group are not indicative of future success or results. This award and its ratings are independently determined and awarded by its respective publication.

^‡Borrow Better Week: Additional terms and conditions apply. Limited time 0.50% rate drop applies to Personal Loan and Student Loan Refinancing applications started between 10/19/2026 at 11:00 AM ET and 10/25/2026 at 11:59 PM ET . For SoFi Small Business Loans, applications must be fully submitted between 10/19/2026 at 11:00 AM ET and 10/25/2026 at 11:59 PM ET. To receive the Home Equity rate drop, you must lock your rate with SoFi between 10/19/2026 at 11:00 AM ET and 10/26/2026 at 9:00 AM ET. Offer is subject to lender approval and must meet all underwriting criteria. Promotion does not include mortgage loan purchase, mortgage refinance, or HELOC applications.

^*STUDENT LOAN REFINANCE PAYMENT DISCLOSURE:

5-YEAR Payment Example: The fully amortizing payment for a 60 month term, loan amount of $50,000 with an Annual Percentage Rate of 4.850%, would be $940.13 per month (includes both principal and interest). The total amount of interest paid over that 5yr period would be $6,407.77. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

7-YEAR Payment Example: The fully amortizing payment for a 84 month term, loan amount of $50,000 with an Annual Percentage Rate of 5.190%, would be $711.17 per month (includes both principal and interest). The total amount of interest paid over that 7yr period would be $9,738.11. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

10-YEAR Payment Example: The fully amortizing payment for a 120 month term, loan amount of $50,000 with an Annual Percentage Rate of 5.380%, would be $539.66 per month (includes both principal and interest). The total amount of interest paid over that 10yr period would be $14,759.58. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

15-YEAR Payment Example: The fully amortizing payment for a 180 month term, loan amount of $50,000 with an Annual Percentage Rate of 6.320%, would be $430.62 per month (includes both principal and interest). The total amount of interest paid over that 15yr period would be $27,511.84. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

20-YEAR Payment Example: The fully amortizing payment for a 240 month term, loan amount of $50,000 with an Annual Percentage Rate of 6.350%, would be $368.38 per month (includes both principal and interest). The total amount of interest paid over that 20yr period would be $38,412.38. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.

All information in the payment examples listed above — including interest rates, payments, terms, and availability — is for informational purposes only and is subject to change without notice.

²Autopay discount:The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments as outlined in your loan agreement by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. When the autopay interest rate deduction is added or removed, the next time the loan is re-amortized (quarterly for fixed rate loans; monthly for variable rate loans),the principal balance of your loan will be spread over the remaining loan term, and your monthly payment amount will change. This benefit is suspended during periods of deferment, grace period, or forbearance. Autopay is not required to receive a loan from SoFi.

³SoFi Travel: SoFi registered users can save 10% or more on eligible bookings when booking with SoFi Travel powered by Expedia. The SoFi Travel Portal is operated by Expedia, not by SoFi or its affiliates. SoFi may be compensated by the benefit provider. Offers are subject to change and may have restrictions, please review Expedia’s Travel Services Terms & Conditions.

Eligibility:
You must be a SoFi registered user.
You must agree to SoFi’s privacy consent agreement.
You must book the travel on SoFi’s Travel Portal reached directly through a link on the SoFi website or mobile application. Travel booked directly on Expedia’s website or app, or any other site operated or powered by Expedia is not eligible.

SoFi Coach offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. When you use the service to connect an account, you authorize SoFi to obtain account information from any external accounts as set forth in SoFi’s Terms of Use. Based on your consent SoFi will also automatically provide some financial data received from the credit bureau for your visibility, without the need of you connecting additional accounts. SoFi assumes no responsibility for the timeliness, accuracy, deletion, non-delivery, or failure to store any user data, loss of user data, communications, or personalization settings. You must confirm the accuracy of Plaid data through sources independent of SoFi. The credit score is a VantageScore^® based on TransUnion^® (the “Processing Agent”) data.

⁴SoFi Member Rewards: All terms and conditions applicable to the use of SoFi Member Rewards apply. To learn more about SoFi Member Rewards, please see the Rewards page. No points will be earned with respect to reversed transactions, returned purchases, or other similar transactions. When you elect to redeem rewards points toward active SoFi accounts, including but not limited to, your SoFi Checking or Savings account, SoFi Money^® account, SoFi Self-Directed account, SoFi Robo Invest account, SoFi Credit Card account, SoFi Personal Loan, Private Student Loan, Student Loan Refinance, or toward SoFi Travel purchases, your rewards points will redeem at a rate of 1 cent per every point. Brokerage and Self-Directed investing products offered through SoFi Securities LLC, Member FINRA/SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A.

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