SoFi Blog
Tips and news—
for your financial moves.
The longer the loan term the lower the monthly payments will be, but that means more interest will be paid over the life of the loan. Conversely, a shorter loan term may mean higher monthly payments, but then less is paid in interest over the life of the loan.
You can also get a 0.25% interest rate reduction when you sign up to make automated payments from your checking or savings account. Learn more about SoFi’s autopay discount on our repayment options and examples page.
Find out more about SoFi’s Member Rate Discount eligibility requirements here.
Read more
By
Eujin Rhee |
1_Web_ISL,
student_loan |
Comments Off on Undergraduate Student Loans Rates & Terms
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.
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 17.95%, 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.
How to read the repayment tables
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
Repayment Type:
Interest Only
Make only the interest payments while in school
Repayment Type:
Partial Payment
Pay a monthly payment of $25 while in school
Repayment Type:
Fully Deferred
Start paying principal and interest payments six months after you leave school
Variable Rate Loans
Repayment Type:
Immediate
Make principal and interest payments while in school
Repayment Type:
Interest Only
Make only the interest payments while in school
Repayment Type:
Partial Payment
Pay a monthly payment of $25 while in school
Repayment Type:
Fully Deferred
Start paying principal and interest payments six months after you leave school
Private Student Loan variable rate loans for all terms are capped at 17.95%.
Rates in this table reflect prices as of 2025-12-13.
**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.
View FAQs >
Read more
By
Micah Sapitsky |
1_Web_ISL |
Comments Off on Undergraduate Student Loans
Undergraduate Student Loans
Your rate is dropping,
see how low it could go.
View your rate
Unlike with other lenders, viewing your rate with SoFi will NOT affect your credit score.✝︎
You could save on funding upcoming college expenses.
Earn a 0.25% rate discount1 when you complete your
application for a SoFi Private Student Loan by 1/30/26.
View your rate
Unlike with other lenders, viewing your rate with SoFi will NOT affect your credit score.✝︎
New! Cash bonus for good grades.
Up to $2503 with GPAs 3.0 or higher.
Learn more
Received a mailer from us? (window.sofiUtils.triggerModalById(‘dm-confirmation-offer-landing’, this))} > Enter confirmation #
A better way to pay for your undergraduate degree.
We are making it fast and easy for you to pay for school with our undergraduate student loans. Easily add a cosigner. And finish
online applications in minutes. We’ll fill in the info on your next application to make it even quicker.
-
100% covered.
SoFi will cover all school-certified costs. That’s right—we’re got you covered.
-
No fees required. No fuss
No fees required means no fees required. That means no origination fees, no late fees, and no insufficient funds fees. Period.
-
Save Money
Get extra ways to save: 0.25% rate discount with autopay5, plus another 0.125% discount^ for multiple loans to support multiple kids in college.
-
Cosign with confidence.
Once students prove themselves with 12 straight on-time payments, they can apply to release cosigners from their loan.*‡
Choose from low fixed or variable rates.
Fixed
3.18% – 15.99% APR*
with all discounts
Variable
4.39% – 15.99% APR*
with all discounts
Not sure which to choose?
Learn more →
SoFi was named Best Student Loan by Money.com.
Awards or rankings from Money.com are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
)}
layout=”columns”
topRightPillText=”1 / 3″
/>
SoFi is trusted by over 1,195 universities nationwide as a recommended lender.
)}
layout=”columns”
topRightPillText=”2 / 3″
/>
Bankrate named SoFi Best Student Loan for Borrowers with Good Credit.
Awards or rankings from Bankrate are not indicative of future success or results. This award and its ratings are independently determined and awarded by their respective publications.
)}
layout=”columns”
topRightPillText=”3 / 3″
/>
PRIVATE STUDENT LOANS
Earn and redeem points to pay down your SoFi undergraduate loan.
Now you can redeem your rewards points to pay down your SoFi student loan. Earning rewards points is as easy as setting up bill pay, checking your credit score, and more.
Learn more
For complete Member Rewards details, read our Terms of Service.
STUDENT LOAN CALCULATOR
Estimate your undergraduate student loan payments
Simulate your potential monthly payments and interest by choosing loan preferences that meet your needs.
SoFi undergraduate student loans vs. other lenders.
‡ and subsequent loans^‘,
]}
competitorCards={[
[
‘Sallie Mae’,
’15 minutes’,
‘Late fee + returned check’,
‘3’,
‘No’,
‘No (terms assigned by lender)’,
‘Automated payments’,
],
[
‘College Ave’,
‘3 minutes’,
‘Late fee’,
‘4’,
‘No’,
‘Yes’,
‘Automated payments’,
],
[
‘Discover’,
”,
”,
‘No longer accepting applications after January 31, 2024.‘,
”,
”,
”,
],
]}
/>
Comparisons based on information obtained on lenders’ websites as of January 9, 2024
View your rate
Deferred
Start paying principal and interest payments six months after you leave school.
- No payments while in school
- Highest overall cost option
Interest only
Pay only interest payments while you’re in school.
- Moderate payment while in school
- Reduces overall cost
Partial
Pay a $25 fixed monthly payment while you’re in school.
- Lowest payment option while in school
- Reduces some of the overall cost
Immediate
Start paying principal and interest payments right away.
- Highest payment option while in school
- Lowest overall cost option
View repayment examples
Undergraduate student loans on your terms.
We now offer four different term options so you can choose a repayment timetable that works for you.
5-year
7-year
10-year
15-year
View repayment examples
Start your application
How to apply for private undergraduate student loans from SoFi:
-
1
Apply online in just minutes.
Get your rate fast and find out if you’re pre-qualified
before you even finish the full application. Seamlessly add
a cosigner in just a few clicks.
-
2
Select your rate and repayment option.
Choose from fixed or variable rates.
Then, pick from four repayment options.
-
3
Sign and accept your loan.
Upload screenshots of your info, sign your paperwork
electronically, and voilà—your work is done!
We’ll handle it from here.
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.
Tools, tips, resources, and more.
Our online resource center is filled with over 500 articles, budgeting tools, guides, and more.
Visit SoFi Learn
FAQs
Why should I choose SoFi Undergraduate Student Loans?
SoFi is different, and we’re not just saying that. Our loans offer competitive rates and flexible terms with no fees, an easy all-online application, flexible repayment plans, and U.S. based support when you need it. And you can check your rate in just 3 minutes.
What are undergraduate loans?
Undergraduate student loans allow young people to borrow the money they need to pay for their education. Student loans can be used to pay for qualified educational expenses like tuition, room and board books, supplies for classes, etc. Student loans can be borrowed by the student, or in some cases, by their parents. You can find more information on how student loans work here.
Do I need a cosigner for a SoFi Private Student Loan for undergraduates?
No, but rates for undergrads are typically higher without a cosigner. Most undergraduate students have limited credit history and income; having a cosigner with a solid financial history and good, established credit may help improve your chances of loan approval. It might even help you qualify for a lower interest rate. With SoFi’s online application process, you and your cosigner can see what rates and terms you pre-qualify for before submitting your full loan application—and it won’t impact your credit score.
What information do I need to apply for an undergraduate student loan?
- Social Security number or Tax Identification Number (TIN) are required from all borrowers all the time
- Proof of income: You may be required to provide proof of income if SoFi is not able to validate it automatically. We could use something similar for gov’t id.
- Government-issued ID
- Student’s school information (student’s estimated graduation date and academic term)
- Loan amount (how much you’d like to borrow)
- Financial aid you expect to receive
- Do you already have a private student loan with SoFi? We’ll use your past application to pre-fill as much information as possible in your new application
What are the eligibility requirements for SoFi Private Student Loans for undergraduate students?
To be eligible for a SoFi loan, you must be a U.S. citizen, permanent resident, or non-permanent resident alien. You do not need to be a full time student, but you must be enrolled at least half-time in a degree-seeking program at an eligible school. Check out our full eligibility requirements to learn more.
When do I start paying back my undergraduate student loan?
This will depend on the loan terms that are selected. If you choose the deferred repayment option, full principal and interest payments can be deferred as long as the student remains enrolled at an eligible school at least half-time. For undergraduate and graduate loans, full principal and interest payments would begin 6 months after the student graduates or drops below half-time enrollment.
Borrowers working toward their undergraduate degree have up to 60 months to complete their degree. Borrowers who have selected immediate repayment and Parent Loan borrowers will begin full principal and interest payments upon full disbursement of the loan.
To learn how different repayment options can affect your monthly payment amount and what you might pay overall for the loan, check out our
eligibility requirements page.
Can I qualify for an undergraduate student loan if attending school online?
Yes, as long as you meet SoFi’s other eligibility requirements. Check out our full eligibility requirements to learn more.
Do you require students to make Satisfactory Academic Progress (SAP) in order to receive the loan?
No, SoFi does not require Satisfactory Academic Progress (SAP).
Learn more: What Is Satisfactory Academic Progress (SAP)?
How much can I borrow in undergraduate student loans?
The minimum amount that you can borrow is $1,000. You can borrow up to the total cost of education.
Can I get a discount on student loans?
Yes. You can get a 0.25% interest rate reduction when you sign up to make automated payments from your checking or savings account. Learn more about SoFi’s autopay discount on our repayment options and examples page.
What are the interest rates for SoFi Undergraduate Student Loans?
SoFi’s undergraduate student loan fixed and variable rate ranges can be found on this page. We also have loan options for Graduate, Law, MBA, Health Professions, and Parent. Full rate range information can be found on each respective web pages.
What is the Family Discount?
Putting one kid through college can be a challenge–let alone two, or more. SoFi is here to help with the Family Discount. Cosigners who take out SoFi Private Student loans for multiple student borrowers will receive a 0.25% rate discount on the second (or third, etc.) loans they’re cosigning.
How is the Family Discount applied?
The family discount is applied to second and subsequent private student loans that have the same cosigner after the second loan is funded. The discount will stay on the loan for the duration of the loan and cannot be lost, whether the cosigner is released from the loan or not. This discount cannot be combined with other rate discounts, with the exception of the 0.25% autopay rate discount and the SoFi Member Discount.
Who can qualify for the Family Discount?
Cosigners who are cosigning more than one SoFi Private Student Loan will receive the discount on the second and all subsequent loans. The discount will stay on the loan for the duration of the loan and cannot be lost, whether the cosigner is released from the loan or not.
See more FAQs
Get started in minutes.
Find your loan rate in just a few clicks.
View your rate
Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student’s at least half-time enrollment in a degree program at a SoFi-participating school and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. View payment examples. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 12/13/25 and is subject to change.
* Interest Rates: Eligibility and Important Details. Fixed rates range from 3.18% APR to 15.99% APR with all discounts. Variable rates range from 4.39% APR to 15.99% APR with all discounts. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 6/1/23 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 and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. 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. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments 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. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.
Read more
