Nov

2017

Data Suggests Student Loan Stress More Extreme Than You Thought

By SoFi | Money, student_loan | No Comments

It’s well documented that student loans are a big source of stress among graduates. For those carrying the 1.34 trillion dollars in student loan debt currently totaled in the U.S., the burden causes strain in ways you might be able to predict—loss of sleep, anxiety—and in some ways that are surprising.

According to a recent SoFi member survey of over 1,200 respondents with student loan debt, the lion’s share of respondents confirmed how student loan stress impacts mental health. Eighty three percent shared that they’ve felt like they couldn’t relax due to the burden of the debt, and a full fifty percent felt that dealing with student loan debt has caused them to feel depressed. Over a third of respondents have reported actually losing sleep due to student loan debt, and a large number noted that it’s caused them to miss out on opportunities to travel, promote self care, and make major life decisions.

Nov

2017

Student Loan Refinance – Intellimize

By SoFi General | Uncategorized | Comments Off

Medical Resident and Fellow Student Loan Refinancing

Don’t let student debt slow you down.

$100 monthly payments. Low rates.
No compounding interest.^*

Find My Rate

Checking your rate will not affect your credit score^✝.

As a medical resident or fellow, you have a lot to do. Growing interest on your student loans shouldn’t stand in the way. With SoFi, you can refinance your federal and private student loans and reduce your payment to just $100/month for up to four years.^*

Rates and Terms

Whether you’re looking to pay off loans sooner or lock in a lower monthly payment, we offer a range of rates and terms. There are no origination fees, and no prepayment penalties.

Fixed Rate

Rates start from 3.625% APR to
7.755% APR when you enroll in AutoPay.¹

Variable Rate

Rates available from 3.065% APR to
7.370% APR when you enroll in AutoPay.¹

Find My Rate

Learn More

Why refinance your student loans in residency?

Choose a repayment term and pick between a low fixed or variable interest rate based on your expected future income as a physician.

If you have federal and private student loans, you can now apply to consolidate them into one easy payment.

Interest on your SoFi loan will not compound during residency, so you won’t end up paying interest on interest.

How it works

Painless pre-qualification

Get pre-qualified online in two minutes. No obligations, no commitments, no hidden fees.

Select your loan.

Find the loan that matches your financial goals and apply online.

Receive the funds.

Once you sign your paperwork, we’ll transfer the funds. Usually within 30 days.

See your rate

Takes two minutes. Won’t affect
your credit score.^✝

Testimonials

“For a lot of people who go into medicine, you get into it to help people. You go pretty far into debt along the way, you try not to think about the massive debt you’re accruing, but it’s always sitting there in the back of your mind. I refinanced my medical school loans with SoFi and saved about $40,000. It’s easier for me to relax now and not have those nagging thoughts.”

—Charlie, M.D.

“I know I’m making progress and [SoFi has] given me the freedom to invest that money in other assets. My debt is there, but it isn’t holding me back. I tell everyone about SoFi – it’s the easiest thing. Before, I had three different loans and it was frustrating. Now I pay one, and I’m saving 2% in interest every month – that is a huge savings for me every month.”

— Dr. Jared Pool, University of the Pacific

Frequently asked questions

Q: Does SoFi refinance student loans for Medical Residents and Fellows?

Yes! SoFi will refinance student debt for medical residents and fellows before you become an attending physician. Residents will be required to make minimum monthly payments of $100 on their debt to SoFi until the end of your residency or fellowship program, up to 54 months. After this time, your loan will re-amortize and your payment amount will increase according to a fully amortized loan schedule.

Q: Am I eligible for a SoFi Medical Resident Refinance loan?

1. You’re a medical resident or fellow with up to four years left in your approved program.
2. You have over $10k in private or federal student loan debt.
3. You have graduated from a selection of Title IV accredited university or graduate programs in the U.S.
4. You meet SoFi’s underwriting criteria.

See SoFi.com/eligibility for additional information.

Q: When can I refinance?

Residents and fellows can apply to refinance once you have been matched to your residency or fellowship program. Applicants must be within 4 years of becoming an attending physician. Any fellowship or extended residency training period must be agreed to at the time of refinancing.

Q: What happens if I leave my residency program?

Upon completion or departure from your residency program, your loan will re-amortize and your payment amount will increase according to a fully amortized loan schedule.

Q: What terms do you offer?

SoFi offers 5, 7, 10, 15, and 20 year fixed and variable terms. This means that if you refinance today, have four years left in your residency, and refinance to a 20 year loan term, as long as you make every payment on time, your loan will be fully paid off in 24 years.

Q: What happens to the accrued interest on my loan during the $100 payment per month residency period?

Interest that accrues while paying $100 monthly payments during the residency period will capitalize at the end of your residency period. This means that you will not be charged compounded interest on your SoFi loan during your residency period.

See FAQs

Additional resources

What is the return on your Medical degree?

4 money tricks doctors can use to pay down student loans.

Paying off medical school debt. What every doctor needs to know.

Questions?

Call us at
866-336-DOCS or email at [email protected].

Find My Rate

Oct

2017

Personal Loans – Members (Confirmation)

By Eujin Rhee | Uncategorized | Comments Off

Personal loans,
made more personal.

SoFi members save an average of $147^* with a preferred rate discount of 0.125%.

Find My Rate
CONFIRMATION #

Checking your rate will not affect your credit score^✝.

Pay off credit cards or invest in a major purchase

Are you paying more than 15% interest on your credit cards? SoFi Personal Loans could help you save thousands. With low personal loan interest rates and a fixed monthly payment, you can get loans to pay off credit cards, pay off high interest debt, or make a major purchase. It only takes minutes to apply.

Why SoFi?

Serious
Savings

Borrow from $5k-$100k at fixed rates that range from 8.74% APR to 35.49% APR (with all discounts)^{5, 7}

No Fees.
No Catch.

No origination fees or pre-payment penalties. What you see is what you get.

Exclusive
Rates

Get a 0.125% rate discount^✝︎✝︎ on an additional SoFi loan—just for being a member.

Find My Rate

Personal Loan Comparison⁶

Here’s how SoFi Personal Loans compare

	SoFi Members	Lending Club	Discover Personal Loan	Credit Cards
APR range	Fixed Rates 8.74% – 35.49% (with AutoPay, plus rate discount)⁵	5.99 – 35.89%	6.99 – 24.99%	12.00 – 22.86%⁶
Fees	No Hidden Fees	1 – 5% Origination Fee	No Fees	3% Balance Transfer Fee
Term	2, 3, 4, 5, 6, or 7 years	3 or 5 years	3, 4, 5, 6, or 7 years	Rolling
Amount	$5,000 – $100,000	$1,000 – $40,000	$2,500 – $35,000	Varies
Unemployment Protection^⁴	Yes	No	No	No

Find My Rate

View Payment Examples

So Easy

Find Your Rate

Get pre-qualified online with no hidden fees and no obligation.

Select Your Loan & Apply

Choose the loan that works for you and complete your application.

Sign electronically and receive your funds

Sign your documents and funds are wired to your account.

Trust And Security

$73 billion+

in funded loans

12.6M

members in our growing community.

256-Bit SSL

encryption to keep your information safe.

SoFi is regulated by the Consumer
Financial Protection Bureau

Women Pay Off Refinanced Student Loan Debt Faster Than Men

Data insights provided by the Analytics Team at SoFi

Today’s post is all about how men and women* compare in our student loan refinancing data set. What we found? Both men and women have high student debt loads. (Not a revelation.) Men also get paid more than women on average. (Also not a revelation.)

But here’s what’s interesting: Despite the fact that women have as much student debt and make less money than men, women in the SoFi data set pay their debt off more quickly than men—by nearly 10% (9.3% exactly).

SoFi Launches Student Loan Refinancing for Medical Residents, So That Residents Can Tackle Their Student Debt ASAP

Anyone who pursues the medical field knows that the path to becoming a doctor is laden with student debt. In fact, 76% of 2016 medical school graduates have student loans, with a median student debt load of $190,000 at graduation. And future doctors aren’t just sitting on a pile of debt throughout medical school; even upon starting residency, they’re still accruing interest on that debt while only earning, typically, about $60,000 a year.

SoFi Blog

Tips and news—for your financial moves.

Data Suggests Student Loan Stress More Extreme Than You Thought

Student Loan Refinance – Intellimize

Medical Resident and Fellow Student Loan Refinancing

Don’t let student debt slow you down.

$100 monthly payments. Low rates. No compounding interest.*

Rates and Terms

Fixed Rate

Variable Rate

Why refinance your student loans in residency?

How it works

Painless pre-qualification

Select your loan.

Receive the funds.

Testimonials

Frequently asked questions

Q: Does SoFi refinance student loans for Medical Residents and Fellows?

Q: Am I eligible for a SoFi Medical Resident Refinance loan?

Q: When can I refinance?

Q: What happens if I leave my residency program?

Q: What terms do you offer?

Q: What happens to the accrued interest on my loan during the $100 payment per month residency period?

Additional resources

Questions?

Personal Loans – Members (Confirmation)

Personal loans, made more personal.

SoFi members save an average of $147* with a preferred rate discount of 0.125%.

Pay off credit cards or invest in a major purchase

Why SoFi?

SeriousSavings

No Fees.No Catch.

ExclusiveRates

Personal Loan Comparison6

So Easy

Find Your Rate

Select Your Loan & Apply

Sign electronically and receive your funds

Trust And Security

Personal Loan Calculator

Common Questions

Personal Loans

Member Rate Discount

Received a mailer from us?

Women Pay Off Refinanced Student Loan Debt Faster Than Men

SoFi Launches Student Loan Refinancing for Medical Residents, So That Residents Can Tackle Their Student Debt ASAP

Tips and news—
for your financial moves.

$100 monthly payments. Low rates.
No compounding interest.^*

Personal loans,
made more personal.

SoFi members save an average of $147^* with a preferred rate discount of 0.125%.

Serious
Savings

No Fees.
No Catch.

Exclusive
Rates

Personal Loan Comparison⁶