SoFi Blog

No. The Federal Government requires all custodians for investment advisors to verify the identity of investors for anti-money laundering purposes, but it does not impact your credit.

Got student loans? We’ve got you covered with our Student Loan Smarts blog series. Our expert tips and hacks will help you save money, pay off loans sooner and stress less about student loan debt. Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans. And while you’re at it, check out SoFi’s new Student Loan Debt Navigator tool to assess your student loan repayment options.

Student loans have a way of making you feel powerless. But the truth is, you have more control than you think. That’s what our Student Loan Smarts series is all about—helping you understand all of your options so you can make decisions that fit with your financial goals.

One of those options? Choosing to consolidate or refinance student loans. But what is consolidation, what is refinancing, and how do you know which one (if either) is right for you?

Editor’s Note: This new series on Financial Fitness comes from personal finance expert, and new SoFi content partner, Dr. Tony Pennells, founder of The Freedom Club. Using proven tools and systems, Dr. Tony demystifies “financial freedom” with common sense solutions to help people create true wealth (the type that makes money that you don’t have to work for!).

Do you have every intention of setting money aside for your future, paying down debt or creating an emergency buffer, but never quite seem to get there? Do you find that no matter how much money you earn, by the end of the pay period you have almost nothing? If so, you’re not alone. A recent study showed that 47% of Americans couldn’t come up with $400 to cover a financial emergency (via The Atlantic)