SoFi Blog

Tips and news—
for your financial moves.

5 Kinds of Crowdfunding You Never Thought Of

SoFi is noted as one of the clever, new companies offering alternative financing solutions for everything from student loan refinancing to scientific research.

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What is the difference between consolidation and refinancing?

When you consolidate federal loans through the federal loan consolidation program, you’re combining multiple loans together with a resulting interest rate that’s the weighted average of your original loans’ rates.  When you refinance loans with a private lender, you’re also consolidating (i.e. combining) them, but the lender will use your financial information to give you a new, hopefully lower, interest rate.

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Will SoFi Take Sallie Mae’s Best Customers?

SoFi intercepts the best customers of lenders like SLM before they have ripened into attractive borrowers. If its rapid growth continues, SoFi should be on the radar of those at SLM, Wells Fargo, and First Republic.

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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, permanent residents, or non-permanent resident aliens who have previously attended 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.

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