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20
2021
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Apr
16
2021
Undergraduate Student Loans Rates & Terms [DIRECT MAIL ONLY]
Private Student Loan
Undergrad Rates & Terms
The following examples depict the term, APR, monthly payment amount, and total payments during the life of a $10,000 private student loan with a single disbursement. All student loan rates below are shown with the autopay discount (0.25%). SoFi does not charge application fees, origination fees, insufficient fund fees, or late fees, and there are no prepayment penalties. Enrolling in autopay is not required to receive a loan from SoFi.
How to read the repayment tables
For variable rate loans, the variable interest rate is derived from the 30 day average SOFR index rate plus a margin of between 0.36% and 11.96%. The current 30 day average SOFR index rate is 4.03%. Changes in the 30 day average SOFR index rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law.
It is important to remember that interest begins accruing on the first disbursement date, but some repayment options do not require full principal or interest payments until the end of the deferment period. Any unpaid interest that has accrued and remains unpaid at the end of the deferment period will be added to the principal balance at the end of the deferment period. Thereafter, interest will accrue on this new principal balance.
If approved for a loan, the interest rate you receive will be within the ranges listed below, but will depend on a number of factors including: your loan term, your selected repayment type, your financial history, and other factors, including your cosigner’s (if any) financial history. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. State restrictions and other terms and conditions may apply.
For the tables below, the full deferment, interest only, and partial payment in-school repayment options assume that you remain in school for four years and have a six-month grace period (together, the deferment period) before the loan term begins. The immediate repayment option assumes full payment begins one month after full disbursement.
SoFi reserves the right to change interest rates at any time and without notice. Such changes will only apply to applications begun after the effective date of the change. Calculations are estimates only.
Fixed Rate Loans
Repayment Type:
Immediate
Make principal and interest payments while in school
Make principal and interest payments while in school
| Term (years) |
APR | Monthly payment amount during deferment period |
Monthly payment amount during the loan term |
Total of Payments |
|---|---|---|---|---|
| 5 | 3.18% – 15.99% | N/A | $180.49 – $243.13 | $10,829.27 – $14,587.65 |
| 10 | 7.29% – 15.99% | N/A | $117.61 – $167.45 | $14,113.03 – $20,094.10 |
| 15 | 7.34% – 15.99% | N/A | $91.79 – $146.80 | $16,522.98 – $26,424.06 |
Repayment Type:
Interest Only
Make only the interest payments while in school
Make only the interest payments while in school
| Term (years) |
APR | Monthly payment amount during deferment period |
Monthly payment amount during the loan term |
Total of Payments |
|---|---|---|---|---|
| 5 | 7.14% – 15.99% | $59.50 – $133.25 | $198.67 – $243.13 | $15,133.39 – $21,783.15 |
| 10 | 7.54% – 15.99% | $62.83 – $133.25 | $118.91 – $167.45 | $17,662.28 – $27,289.60 |
| 15 | 7.84% – 15.99% | $65.33 – $133.25 | $94.64 – $146.80 | $20,563.89 – $33,619.56 |
Repayment Type:
Partial Payment
Pay a monthly payment of $25 while in school
Pay a monthly payment of $25 while in school
| Term (years) |
APR | Monthly payment amount during deferment period |
Monthly payment amount during the loan term |
Total of Payments |
|---|---|---|---|---|
| 5 | 7.11% – 13.79% | 25 | $241.55 – $385.25 | $15,842.76 – $24,464.86 |
| 10 | 7.47% – 14.21% | 25 | $146.73 – $265.33 | $18,957.02 – $33,190.10 |
| 15 | 7.80% – 14.41% | 25 | $118.67 – $232.61 | $22,710.02 – $43,220.25 |
Repayment Type:
Fully Deferred
Start paying principal and interest payments six months after you leave school
Start paying principal and interest payments six months after you leave school
| Term (years) |
APR | Monthly payment amount during deferment period |
Monthly payment amount during the loan term |
Total of Payments |
|---|---|---|---|---|
| 5 | 7.05% – 13.44% | NULL | $271.71 – $418.07 | $16,302.72 – $25,084.19 |
| 10 | 7.47% – 13.94% | NULL | $165.51 – $287.94 | $19,861.43 – $34,552.80 |
| 15 | 7.82% – 14.18% | NULL | $134.14 – $252.43 | $24,146.00 – $45,437.50 |
Variable Rate Loans
Repayment Type:
Immediate
Make principal and interest payments while in school
Make principal and interest payments while in school
| Term (years) |
APR | Monthly payment amount during deferment period |
Monthly payment amount during the loan term |
Total of Payments |
|---|---|---|---|---|
| 5 | 4.39% – 15.99% | N/A | $185.93 – $243.13 | $11,155.83 – $14,587.65 |
| 10 | 7.29% – 15.99% | N/A | $117.61 – $167.45 | $14,113.03 – $20,094.10 |
| 15 | 7.34% – 15.99% | N/A | $91.79 – $146.80 | $16,522.98 – $26,424.06 |
Repayment Type:
Interest Only
Make only the interest payments while in school
Make only the interest payments while in school
| Term (years) |
APR | Monthly payment amount during deferment period |
Monthly payment amount during the loan term |
Total of Payments |
|---|---|---|---|---|
| 5 | 7.14% – 15.99% | $59.50 – $133.25 | $198.67 – $243.13 | $15,133.39 – $21,783.15 |
| 10 | 7.54% – 15.99% | $62.83 – $133.25 | $118.91 – $167.45 | $17,662.28 – $27,289.60 |
| 15 | 7.84% – 15.99% | $65.33 – $133.25 | $94.64 – $146.80 | $20,563.89 – $33,619.56 |
Repayment Type:
Partial Payment
Pay a monthly payment of $25 while in school
Pay a monthly payment of $25 while in school
| Term (years) |
APR | Monthly payment amount during deferment period |
Monthly payment amount during the loan term |
Total of Payments |
|---|---|---|---|---|
| 5 | 7.11% – 13.79% | 25 | $241.55 – $385.25 | $15,842.76 – $24,464.86 |
| 10 | 7.47% – 14.21% | 25 | $146.73 – $265.33 | $18,957.02 – $33,190.10 |
| 15 | 7.80% – 14.41% | 25 | $118.67 – $232.61 | $22,710.02 – $43,220.25 |
Repayment Type:
Fully Deferred
Start paying principal and interest payments six months after you leave school
Start paying principal and interest payments six months after you leave school
| Term (years) |
APR | Monthly payment amount during deferment period |
Monthly payment amount during the loan term |
Total of Payments |
|---|---|---|---|---|
| 5 | 7.05% – 13.44% | NULL | $271.71 – $418.07 | $16,302.72 – $25,084.19 |
| 10 | 7.47% – 13.94% | NULL | $165.51 – $287.94 | $19,861.43 – $34,552.80 |
| 15 | 7.82% – 14.18% | NULL | $134.14 – $252.43 | $24,146.00 – $45,437.50 |
Private Student Loan variable rate loans for all terms are capped at 13.95%.
Rates in this table reflect prices as of 2025-12-19.
**Private Student Loan: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments by an automatic monthly deduction (ACH) from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The discount will not reduce the monthly payment; instead, the discount is applied to the principal loan balance and is intended to help pay the loan down faster. Enrolling in autopay is not required to receive a loan from SoFi.
Find your loan rate in just a few clicks.
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Refinancing for Lawyers and MBAs | SoFi
Refinance your Law School
& MBA loans. Smart move.
You could save thousands when you refinance your student loans.
View your rate
Checking your rate will not affect your credit score.
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Choose from competitive fixed or variable rates.
Refinance your student loans, and you could lower your monthly payment or lower your interest rate.
See payment examples.
5-year fixed rate
4.24% – 8.45% APR1
with all discounts
7-year fixed rate
4.72% – 8.77% APR1
with all discounts
10-year fixed rate
5.02% – 8.82% APR1
with all discounts
15-year fixed rate
5.28% – 8.87% APR1
with all discounts
20-year fixed rate
5.52% – 9.99% APR1
with all discounts
5-20-year variable rates
5.99%–9.99% APR1
with all discounts
An easy choice.
“When I researched refinancing my student loan, all the positive reviews made choosing SoFi a no-brainer.”
– Sandra S., SoFi member.
Surprisingly simple.
“I remember being so surprised about how easy it was to apply, get a decision, receive updates, and confirm funding.”
– Sandra S., SoFi member.
Simplify my finances.
“I decided to refinance after paying way too much in interest. SoFi had competitive rates and consolidated my loans into one manageable payment.”
– Joanna K., SoFi member.
Values first.
“I chose SoFi because of its values, specifically for putting members first.”
– Joanna K., SoFi member.
The savings and experiences of members herein may not be representative of the experiences of all members. Savings are not guaranteed and will vary based on your unique situation and other factors.
Why refinance your business and law school student loans with SoFi?
View your rate
Competitive rates
Low fixed and variable rates could save you thousands over the life of your loan.
No fees required
No application or origination fees. No early prepayment fees, either.
Flexible repayment
Refinance into a shorter term and save in interest or use a longer term to lower your monthly payment.
Member benefits
Access to exclusive SoFi member benefits, financial planning, and live events.
How it works
Get pre-qualified online.
We’ll let you know if you’re qualified before you complete the full application.
Select your rate and term.
Compare the plans available to you with a choice of rates and terms.
Verify your info and sign.
Upload a screenshot of your student loan statement then sign your paperwork electronically.
View your rate
Let’s find a loan that fits you.
Take a short quiz for a recommendation on a loan that meets your money needs now.
More articles and resources
Law School & MBA Loan Refinancing FAQs
Yes, graduate student loans, including those used to pay for law school or MBA programs, may be eligible for refinancing with private lenders like SoFi. By refinancing, you could potentially secure a lower interest rate or simplify repayment by combining multiple loans into one. Keep in mind that refinancing federal loans with a private lender means giving up federal protections such as income-driven repayment plans and forgiveness programs.
Some federal programs may offer loan forgiveness to graduate borrowers, depending on the type of loan and career path. For example, Public Service Loan Forgiveness (PSLF) may be available if you work in qualifying government or nonprofit roles and make the required number of qualifying payments. Private student loans are not eligible for federal forgiveness programs.
Yes, Grad PLUS Loans can be refinanced with private lenders such as SoFi. Refinancing may lower your interest rate or help you consolidate multiple loans. However, once refinanced, your Grad PLUS Loan becomes a private loan and you will lose access to federal benefits such as deferment, forbearance, or forgiveness programs.
To refinance with SoFi, you will generally need to have graduated and be employed or have an employment offer. While enrolled in an MBA program, you likely will not be eligible to refinance. Once you graduate and meet SoFi’s eligibility requirements, you can apply.
Similar to MBA students, law students usually must wait until after graduation to refinance with SoFi. Once you have completed your degree and meet income and credit requirements, you could be eligible to refinance your loans.
Many borrowers consider refinancing MBA loans after graduation, once they have secured stable employment and a strong credit profile. Refinancing may be most beneficial if interest rates are lower than the rates on your existing loans or if you want to simplify repayment by consolidating multiple loans.
Refinancing law school loans can make sense after graduation when you are working and able to qualify for competitive rates. Borrowers often look to refinance if they want to reduce their monthly payments, lower their interest rate, or combine multiple loans into one. Timing is important, as refinancing federal loans will remove access to federal repayment options and protections.
Yes, with SoFi you can refinance both federal and private graduate school loans into a single new loan. This could make repayment more manageable and potentially lower your interest rate. Remember that refinancing federal loans with a private lender removes federal protections and forgiveness options.
See all FAQs
Find your rate in just minutes.
View your rate
2Fixed rates range from 4.24% APR to 9.99% APR with 0.25% autopay discount and 0.125% SoFi Plus discount. Variable rates range from 5.99% APR to 9.99% APR with 0.25% autopay discount and 0.125% SoFi Plus discount. Unless required to be lower to comply with applicable law, Variable Interest rates will never exceed 13.95% (the maximum rate for these loans). SoFi rate ranges are current as of 12/19/25 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. You may pay more interest over the life of the loan if you refinance with an extended term.
Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments as outlined in your loan agreement by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. When the autopay interest rate deduction is added or removed, the next time the loan is re-amortized (quarterly for fixed rate loans; monthly for variable rate loans),the principal balance of your loan will be spread over the remaining loan term, and your monthly payment amount will change. This benefit is suspended during periods of deferment, grace period, or forbearance. Autopay is not required to receive a loan from SoFi.
SoFi Plus Discount: To be eligible to receive an additional (0.125%) interest rate reduction on your Student Loan Refinancing (your “Loan”) for enrolling in SoFi Plus, you must enroll in SoFi Plus within 30 days of Loan funding, either by receiving an Eligible Direct Deposit to your SoFi Checking and Savings account, or by paying the SoFi Plus Subscription Fee. Once eligible, you will receive this discount during periods in which you have received Eligible Direct Deposit to your SoFi Checking and Savings Account, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount lowers your interest rate but does not change the amount of your regular monthly payment. This discount will be removed during periods in which SoFi determines you have turned off Eligible Direct Deposit to your Checking and Savings account or in which you have not paid the SoFi Plus Subscription Fee. SoFi reserves the right to change or terminate this interest rate reduction offer for unenrolled participants at any time without notice. You are not required to enroll in Eligible Direct Deposit or to pay the SoFi Plus Subscription Fee to be eligible for Loan approval.
Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-Day Evaluation Period (as defined below). Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you’re receiving the Student Loan Refinance discount, we encourage you to check your SoFi Plus status in the Membership & Rewards Center the day after your Eligible Direct Deposit arrives. If your SoFi Plus status is not reflected in the Membership & Rewards Center, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start receiving the Student Loan Refinance discount from the date you contact SoFi for the rest of the current 30-Day Evaluation Period. You will also be eligible for the Student Loan Refinance discount on future Eligible Direct Deposits, as long as SoFi Bank can validate them. Deposits that are not from an employer, payroll or benefits provider, or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. SoFi Bank shall, in its sole discretion, assess each account holder’s Eligible Direct Deposit activity to determine eligibility and may require additional documentation to complete this verification. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. SoFi Plus member benefits will be lost during periods in which the customer has turned off Eligible Direct Deposit into their account. If you are a joint account holder of a SoFi Checking and Savings account and either you or your joint account holder receives Eligible Direct Deposit into your SoFi Checking and Savings account, then you will be eligible for all SoFi Plus benefits, including on accounts you hold in your own name.
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