SoFi Blog

Tips and news—
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Student Loan Refinance – Credit Karma

Refinance Student Loans

Save thousands on your student loans.

Find My Rate

Checking your rate will not affect your credit score.

SoFi is a leading student loan
refinancing provider.

$47 billion+
in refinanced student loans
550,000+
members who’ve refinanced
98%
would recommend SoFi to a friend4.

Pick the loan that works for you.

Save on your student loans by choosing between a range of rates and terms. No prepayment penalties and no hidden fees. Ever.

Fixed Rate

Rates available from 4.24% APR to 9.99% APR when you enroll in AutoPay.1

Variable Rate

Rates start from 5.99% APR to 9.99% APR when you enroll in AutoPay.1

Investing in people who
invest in themselves.

How it works:

The student loan refinancing process is fast, easy, and can be done entirely online.

New Term

APR

Illustrative
Lifetime Savings

5-year

4.03%

$13,680

7-year

4.57%

$16,963

10-year

4.98%

$15,511

View Payment Examples
SoFi offers a range of terms and rates—so yours are going to look different from this illustrative chart, which is just something designed to show you what the SoFi app looks like.

Get pre-approved online in just two minutes.

We’ll let you know if you’re qualified before you finish the full application.

Select your rate and term.

Choose between saving on your monthly payment or saving on total student loan interest.

Verify your info and sign.

Upload screenshots of your information, then sign your paperwork electronically.

Switch to one low-rate monthly payment.

We pay off your servicer(s) and issue you one new student loan.

Find my rate

It takes only two minutes and
won’t affect your credit score.

Common questions

Q: Who should refinance?

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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.

Q: Can I refinance both federal and private student loans?

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Yes, SoFi will consolidate all qualified education loans.

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

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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.

Q: What is the difference between consolidating and refinancing?

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Q: What is a direct consolidation loan?

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A Direct Consolidation Loan is a government program that allows you to combine multiple federal education loans into a single loan. The resulting interest rate is a weighted average of your prior loan rates. Refer to https://www.sofi.com/consolidate-student-loans-vs-refinance/ for more information.

Q: What’s the difference between fixed and variable rate loans?

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See FAQs

SoFi in the news

CNN Money

“This lender offers free drinks, yoga, and matchmaking with its loans.”

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NYT

“SoFi [also] provides career counseling, wine tastings and home-buying workshops.”

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Speed matters. Which is why you can check loan rates or start investing online—in just minutes.

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Accessibility

Accessibility Statement for Social Finance, Inc

In accordance with the Americans with Disabilities Act (ADA), Social Finance, LLC (SoFi) is committed to providing accessible products and services to our clients and the public, regardless of disability status. Please contact us at (855) 456-7634 or [email protected] to learn more about accessibility support services at SoFi.

SoFi welcomes relay calls.

Reasonable Accommodations

Individuals with a disability who need a reasonable accommodation to access SoFi’s products and services should send an email to [email protected] or call us at (855) 456-7634 to provide the date on which the reasonable accommodation is needed and information about the nature of the requested accommodation. Requesters should include contact information such as an email address or telephone number at which they can be reached. Depending on the nature of the request, SoFi may need sufficient notice to provide a reasonable accommodation.

Online Accessibility

We value digital inclusion. In our effort to provide a fully accessible and optimized user experience for all site visitors, Social Finance, LLC has taken careful measures to ensure a quality user experience, regardless of the assistive technology being used to access this site or the specific abilities of those individuals seeking access to this site. Features to provide an accessible user experience include:

  • Text alternatives for non-text content
  • Functionality of content through a keyboard interface
  • Utilizing headings or labels to describe topics or purpose

In the event that a user with a disability experiences accessibility issues with our website, please notify us by sending an email to [email protected] or calling us at (855) 456-7634. In your communication to us, please specify the nature of the accessibility difficulty, including the web address that may have presented an accessibility challenge.

In addition to the above-mentioned techniques and strategies – and since not all site visitors have access to assistive tools such as screen readers – we will be providing free Web Enhancement Tools that allow site visitors to customize their user experience in the upcoming weeks. Turn AudioEye On to enable the AudioEye Ally Toolbar.  AudioEye is a third party provider of Web Accessibility testing and monitoring.  The Ally Toolbar provides users with AudioEye Accessibility tools tailored to their assistive needs.

Third-Party Websites

SoFi’s website contains links to webpages hosted by third parties. SoFi does not make representations with regard to the accessibility of third-party websites and is not able to remediate accessibility barriers on such websites.

Feedback

We are always working to ensure that our products and services are accessible to all clients and the public, including individuals with disabilities. If you have an idea or question about ADA accessibility support services at SoFi, please contact us at (855) 456-7634 or [email protected].


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SoFi Benefits: Six-Month Grace Period for Graduates Using SoFi ReFi

First of all, congratulations to recent MBA graduates! Many members of the SoFi team have been in your shoes and we know the sense of accomplishment you feel when you finally earn your MBA. While the journey of higher education has come to an end, the journey outside of graduate school is just beginning. For many, the top priority is now to find or a job and to pay off any student loans that you may have accrued.

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One SoFi: Refining our Culture

by Jing Liao, Chief Human Resources Officer

This year’s events at SoFi have served as a stark reminder about the importance of company culture. Since September, our board and leadership team have been taking a hard look at SoFi’s culture—and we have identified several areas for improvement. To address those areas, we have launched an initiative called “One SoFi” to work together to define the culture and values we want to embrace as a community across our nearly 1,300 people and seven offices.

We began the initiative with a company-wide survey to assess the present state of our culture, recognize our strengths, and identify opportunities for improvement. We had extremely strong participation across the company, with 81 percent of employees taking the survey. Once the results were compiled, we held discussions on the issues raised amongst leadership, across teams, and together as a company.

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Cryptocurrency: The SoFi Wealth Perspective

Interest in cryptocurrency, specifically Bitcoin, has taken off like a rocket in the last 30 days, spurred largely by the precipitous spike in Bitcoin’s price. While the interest is driving conversation, we feel there hasn’t been enough advice offered to individual investors of how to both make sense of the cryptocurrency boom and to make a decision on whether buying any is a good idea.

Bitcoin is network software that facilitates the secure exchange of digital tokens–called Bitcoins–among anonymous users of the network, anywhere in the world. This New York Times article explains how it works. Other cryptocurrencies work much the same way.

Cryptocurrencies act in some ways like actual currency and can be used to buy a limited number of things, but they are not created by or backed by any government. The full faith and credit of the US government stands behind the dollar. Bitcoin is not backed by anyone. It is hard to create more of most cryptocurrencies, so the interest in them has created demand that is difficult to match, and this has driven up their prices.

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