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Each hardship program period lasts for up to three months. You can re-apply to extend this in three-month increments, up to 12 months in aggregate short-term assistance over the life of the loan. Be aware that you may be subject to a cool-off period.

During an approved hardship program period, interest may continue to accrue. Unpaid interest may be capitalized (added) to your principal balance at the end of each three-month forbearance period.

Payments are required for both personal and student loan programs.

For both personal and student loans, the life of the loan will be extended by the length of the program and any unpaid interest may be capitalized and re-amortized over the remaining loan term to the extent permitted by applicable law.

Unpaid interest will increase the principal balance, and will increase the monthly payment.

When approved for Unemployment Protection, your loan is placed into forbearance. This status is reported to the credit bureaus, and may be a factor in credit-based decisions from other institutions. Your loan will not be reported as delinquent while in forbearance.

If you have a SoFi Student Loan Refinance and/or in-school product, you will need to apply for Unemployment Hardship Assistance with MOHELA directly by calling 877-292-7470.

If you have a funded SoFi personal loan product, you can apply for Unemployment Protection Assistance by calling 855-456-7634.

SoFi personal loans may be eligible for Unemployment Protection Assistance, provided the loans are in good standing. “Good standing” means that you are currently and have been historically abiding by the terms of your loan agreement. Mortgage loans are not eligible for Unemployment Protection.

To qualify for this assistance you must:

• – Be a current SoFi member
• – Have an eligible loan for at least 9 months that is in good standing
• – Loan balance of $3,000 or greater

If you have a funded Personal Loan, you can apply for Unemployment Protection via your SoFi account by calling 844-975-7634.

If you have a SoFi Student Loan Refinance, and/or in-school product, serviced by MOHELA, you will need to apply for the Unemployment Reduced Repayment Option with MOHELA directly by calling 877-292-7470. Additional eligibility criteria and requirements may apply.

If you lose your job through no fault of your own, you may apply for the Unemployment Protection Program. Your loan(s) must be in good standing at the time you request enrollment in the Unemployment Protection program. If approved for the program, SoFi will put your Personal Loan into forbearance, and help to modify your monthly SoFi loan payments. Unemployment Protection is offered in three month increments, and is capped at 12 months, in aggregate, over the life of the loan. If you have a SoFi Student Loan Refinance product, serviced by MOHELA, you will need to apply for the Unemployment Protection program with them directly by calling 877-292-7470.

During each three-month forbearance period, unpaid interest will continue to accrue and will be capitalized (added) onto your principal balance. You do have the option to make interest-only payments during this period in order to prevent the interest from increasing your principal balance.