May

2018

Medical & Dental Resident Loan Refinancing Rates & Terms

By SoFi General | student_loan | Comments Off

Medical & Dental Resident Loan
Refinancing Rates & Terms

The rates shown below include the autopay discount and 0.125% SoFi Plus discount. The SoFi 0.25% autopay interest rate reduction requires you to agree to make your scheduled 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.

SoFi reserves the right to change interest rates at any time without notice. Such changes will only apply to applications begun after the effective date of the change.
Your actual interest rate may be different than the interest rates in these examples and will be based on term of loan, your financial history, and any other factors. State restrictions may apply.

The minimum payment of $100/month while in the Residency Period may not pay all of the interest that accrues each month during the Residency Period. Any unpaid interest that has accrued and remains unpaid at the end of the Residency Period will be added to the principal balance at the end of the Residency Period. Thereafter, interest will accrue on this new principal balance.

How to read the repayment tables

The repayment examples shown below are based on an original loan amount of $100,000 and assume that you make $100 monthly payments while in residency for a total of 4 years and have a 6-month grace period (together, the “residency period”) before the full repayment term begins. In addition, the examples below assume payments begin 1 month after the single lump sum disbursement. SoFi does not charge any application or origination fees, and no prepayment penalties.

Calculations are estimates only.

Fixed Rate Loans

Full Repayment Term	APR range with autopay ¹	Monthly payment amount during residency period (54 months)	Monthly payment amount during full repayment period term	Total of Payments
5 Year	6.14% – 8.77%	$100	$1,939.80 – $2,064.69	$116,387.80 – $123,881.44
7 Year	6.42% – 8.82%	$100	$1,481.07 – $1,599.79	$124,410.19 – $134,382.18
10 Year	6.67% – 9.07%	$100	$1,144.15 – $1,270.55	$137,297.82 – $152,465.91
15 Year	6.87% – 9.27%	$100	$891.58 – $1,030.39	$160,483.68 – $185,470.37
20 Year	7.12% – 9.84%	$100	$782.52 – $954.44	$187,804.39 – $229,066.79

Variable Rate Loans

For variable rate loans, the current index rate is 4.03% and may change monthly. The current index for variable rate loans is derived from the 30 day average SOFR index, thus changes in the SOFR index may cause your monthly payment to increase. 5, 7, and 10 Year terms are capped at 13.95% APR, 15 and 20 Year terms are capped at 13.95% APR to the extent permitted under law.

Full Repayment Term	APR range with autopay ¹	Monthly payment amount during residency period (54 months)	Monthly payment amount during full repayment period term	Total of Payments
5 Year	6.14% – 8.77%	$100	$1,939.80 – $2,064.69	$116,387.80 – $123,881.44
7 Year	6.42% – 9.02%	$100	$1,481.07 – $1,609.92	$124,410.19 – $135,233.53
10 Year	6.67% – 9.07%	$100	$1,144.15 – $1,270.55	$137,297.82 – $152,465.91
15 Year	6.87% – 9.27%	$100	$891.58 – $1,030.39	$160,483.68 – $185,470.37
20 Year	7.12% – 9.84%	$100	$782.52 – $954.44	$187,804.39 – $229,066.79

VIEW ELIGIBILITY >
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Questions? Call us for a free consultation at 866-336-DOCS
or email at [email protected].

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May

14

2018

Medical Resident Refinance – MAIN PDP

By SoFi General | 1_Web_SLR | Comments Off

Medical Resident Refinancing

Set yourself up for
success out of residency.

✓ Pay just $100/month during residency: for up to seven years.¹
✓ Flexible rates and terms: Choose the options that work best for you.²
✓ One easy payment: Consolidate your loans into one easy payment.
✓ Earn $1,000 per referral: You’ll each earn a $1,000 bonus³ when their loan funds.

View your rate

Checking your rate will not affect your credit score.

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Get student debt guidance
from a specialist.

A dedicated SoFi Student Loan Specialist can help you
manage the complexities of student loan debt.

Schedule now

The average doctor has

$241,600 in student loans.

If the average percentage rate (APR) on those loans is 6.75% APR, that doctor could save $35,356 in interest if they qualify for and refinance into a 10 year fixed-rate loan with SoFi at 4.29% APR^* (with autopay).

Current
Loan

Amount

$241,600

Fixed Rate

6.75% APR

Term left

10 years

If refinanced with SoFi

Amount

$241,600

Fixed Rate

4.29% APR

Term left

10 years

Estimated savings with SoFi

$35,356

See your savings

See payment examples

^*Calculated payments example and savings are only estimates based on the following assumptions. This calculation assumes the borrower is refinancing a federal Grad PLUS loan with a 6.75% APR which is the average of Grad PLUS rates over the last 4 years. It assumes they are refinancing an average loan amount of $241,600 (medical)/$301,538 (dental) into a 10-year loan term with a fixed rate of 4.29% APR (with 0.25% autopay discount), and 120 total monthly payments of $2,480/$3,095. The SoFi APR is the average APR for borrowers who took out a student loan refinance loan from SoFi over the course of 2021-2022. Borrowers are not required to enroll in autopay. This calculation assumes the borrower made no payments during the current federal loan relief of 0% interest and no required payments which is set to expire on 12/31/22. When federal loan payments resume, this calculation assumes that the borrower’s federal monthly payment remains the same and the maturity date will be pushed out by the length of the federal loan relief. Any payments and savings may vary and will depend on the actual loan amounts and APR for which the borrower is approved.

Refinance loans during residency
with competitive fixed or variable rates.

Fixed

6.14%–9.84% APR^*

with all discounts

Variable

6.14%–9.84% APR^*

with all discounts

View your rate

Not sure which to choose?

Learn more. →

Why refinance your student loans while in residency?

One easy payment

Medical student debt consolidation simplifies the repayment
process by combining your loans into one monthly payment.
$100 monthly payments during residency

With our resident student loan refinancing, you pay just $100/month¹ for up to seven years. Make progress on your loans, but keep your focus on your residency.
Flexible rates and terms

A refinanced med school loan means you can choose a repayment
term and pick between a low fixed or variable interest rate based
on your expected future income.
Earn $1,000 per referral

Once you refinance with SoFi, you’ll be able to invite other doctors, dentists or residents to refi
too—you’ll each earn a $1,000 bonus when their loan funds. Learn more.

View your rate

BTW it’s a soft inquiry, so it won’t affect your credit score..

Medical Resident Refinance FAQs

What is medical resident refinancing?

Medical school graduates can refinance the student loans they used to pay for college or medical school. When you refinance, your student loans (including both federal and private student loans) are replaced with a new private student loan. Benefits of refinancing may include a lower interest rate, lower monthly payment, or the convenience of combining multiple loans into one. You may pay more interest over the life of the loan if you refinance with an extended term.

Can you refinance student loans while in residency?

Yes, it’s possible to refinance your medical school student loans while you’re still in residency. You can find more information on medical resident refinancing here.

Can I defer my loans while I’m a medical resident?

Yes, many federal student loans offer deferment or forbearance options that allow medical residents to temporarily pause or reduce payments during training. However, interest may continue to accrue during this time, which can increase the total balance owed. Some private lenders also provide resident-specific programs that reduce required monthly payments until after residency.

Can you get loan forgiveness during residency?

It is possible to work toward federal loan forgiveness during residency, depending on your circumstances. For example, medical residents employed by qualifying nonprofit hospitals or academic institutions may be eligible to count residency years toward Public Service Loan Forgiveness (PSLF), provided they are enrolled in an income-driven repayment plan and meet all requirements. Private loans are not eligible for federal forgiveness programs.

Does SoFi refinance student loans for medical residents and fellows?

Yes, SoFi offers student loan refinancing for medical school graduates currently in residency or fellowship. You can find more information on medical resident refinancing here.

What happens if I leave my residency program?

Upon completion or departure from your residency program, your loan will re-amortize and your payment amount will increase according to a fully amortized loan schedule.

Do student loans accrue interest during residency?

Yes, in most cases student loans continue to accrue interest during residency, even if you are in deferment, forbearance, or on a reduced payment plan. Unpaid interest may be capitalized, or added to the principal balance, at the end of the deferment or forbearance period. Refinancing may help manage interest costs, though it is important to weigh the trade-offs of giving up federal protections.

What is the average debt out of residency?

Debt levels for medical school graduates entering residency can vary significantly. Factors such as the cost of attendance, scholarships, personal savings, and any undergraduate loans all influence the total amount owed. Many residents explore repayment options like income-driven plans, forgiveness programs, or refinancing after training to help manage their student loans.

See all FAQs

Resources on medical school loan refinancing in residency—and much more.

Visit SoFi Learn

Ready for a med school loan refinance?

View your rate in minutes to get started.

View your rate

BTW it’s a soft inquiry, so it won’t affect your credit score.^†

May

04

2018

SoFi Refi 0.375% rate discount | SoFi

By SoFi General | student_loan | Comments Off

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REFINANCE STUDENT LOANS

Fixed interest rates start at 3.865%

APR

1
,
2

(with all discounts).

Refinancing your student loans could save you thousands. Just be sure to apply through this page to enjoy the 0.375% rate discount² exclusively available to you as a SoFi partner.

View your rate

✓ Checking your rate will not affect your credit score.^†

{/* Why choose sofi? */}

Why choose SoFi?

Since 2011, we’ve helped over 515,000 members refinance their student loan debt. Here’s just a bit of what they enjoy:

Serious savings.
Zero fees required.

You could save thousands with a lower interest rate and no fees required.
Easy online process

Your time matters. View your
rate in two minutes.
Member benefits

Access SoFi Travel benefits³, our debt summary tool, rewards points to pay toward loans⁴, and more.

{/* Real stories from real grads */}

Real stories from real grads.

550,000+
SoFi members have refinanced their student loans

$47 billion+
In student loans refinanced

4.3/5 stars
On Trustpilot

4.3/5 star rating based on 9,668 reviews as of July 7, 2025. See trustpilot.com/review/sofi.com for more info.

{/* How refinancing student loan works at sofi */}

How refinancing student loans works at SoFi.

First, we’ll see if you qualify.

You can see some basic eligibility criteria for different loan types. Plus, we’ll consider other factors like your financial history, credit score, and monthly income versus expenses.

Then, you pick a loan with a competitive interest rate.

If you’re approved, you can select from flexible terms that could lower your interest or monthly payments. All with no fees required.

Don’t forget to get a discount.

For example, you could get a 0.25% interest rate discount by enrolling in autopay.¹

View your rate

Checking your rate will not affect your credit score.^†

{/* FAQs */}

FAQs

Who should refinance their student loans?

Student loan refinancing is a great solution for working graduates who have high-interest, unsubsidized Direct Loans, Graduate PLUS loans, and/or private student loans. Federal student loans do carry some special benefits, for example, public service loan forgiveness and economic hardship programs, that may not be accessible to you after you refinance. Check out this blog post that provides more information: When to Consolidate Federal and Private Loans by Refinancing. Or, call us at 855-456-SOFI (7634) for a free consultation about your particular situation.

Is it worth it to refinance student loan?

The answer to this question depends on your specific financial situation. However, student loan refinancing may be a good option if you can qualify for a lower interest rate and/or a shorter repayment period. By reducing your rate and getting a lower monthly payment term, you’ll owe less interest over the life of the loan and save money in the long run.

Can I refinance both federal and private student loans?

Yes, SoFi will consolidate all qualified education loans.

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 or permanent residents who have graduated from a selection of Title IV accredited university or graduate programs, are employed, have 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.

What is the difference between consolidating and refinancing student loans?

Student loan consolidation is when you combine multiple loans into one single loan. Student loan refinancing, on the other hand, is when you get a new loan at a new interest rate and/or a new term. You can refinance both federal and private loans. Learn more here.

What’s the difference between fixed and variable rate loans?

Fixed rate loans are loans that have an interest rate that does not change over the life of a loan, which means you pay the same amount each month. It also means you know with certainty the total interest that you’ll pay over the life of the loan. Fixed rate is a general term that can apply to different types of loans with a variety of uses, including student loans, mortgages, auto loans, and unsecured personal loans.

Variable rate loans are loans that have an interest rate that will fluctuate over time in line with prevailing interest rates. Sometimes they are also known as floating-rate loans.

Find more info on Fixed vs. Variable Rate Loans.

Where can I find more information about student loans in general?

Deciding how to best handle your student loan refinancing can be an intimidating process. That’s why we’ve put together our Student Loan Help Center to give you guidance on existing student loan payments, refinancing, budgeting, and common terminology so you can feel more confident in your journey to becoming debt free.

How will applying impact my credit score?

To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull. Learn more here.

What are the differences in refinancing federal vs. private loans?

When you refinance your federal student loans, you’ll have a new private loan, and private loans are not eligible for federal programs and benefits, but it could be a good option if your goal is to lower your monthly payments or get a lower rate. Once federal loans are refinanced into private loans, they can’t be converted back, so it’s important you consider all your options. Learn more here.

What’s the difference between an APR and an interest rate?

Your interest rate includes the interest percentage you will be charged for taking a loan out, accrued on a daily basis, and does not include any other fees. An APR is the sum of the interest rate plus extra fees and expressed as a percentage.

See all FAQs

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Tips and resources for
student loan refinancing.

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Get help from a human.

Ask questions and get help every step of the way from our live customer support team.

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Apr

27

2018

6 Signs It’s Time to Leave Your Job

By SoFi | Career | No Comments

By Jane Bianchi

If you’re groaning because your boss just gave you yet another pointless assignment with an unreasonable deadline, you might think, “My job sucks, but all jobs do. Work is work, so I better just deal with it.”

And sure, every job has its downsides. But how do you know when things are getting so bad that it’s time to quit?

One major red flag is when the work doesn’t matter to you at all. “Fundamentally, we’re wired for meaning. When we are in a role that isn’t aligned with things that we really care about or the things that we’re really good at, we suffer,” says Valerie Olson, Senior Career Coach at SoFi.

Another is realizing that your dissatisfaction at work is making you sad, irritable, or angry, not only at the office—but also at home. “Work bleeds into the rest of your life. If you’re unhappy during the day, it’s going to impact your friendships and your relationships,” says Alexandra Dickinson, Member Strategy Lead at SoFi.

Sound familiar? Check out these six other subtle signs from Olson and Dickinson that it’s time to start job-hunting.

Apr

27

2018

6 Steps to Take When You Can’t Figure Out Your Next Career Move

By SoFi | Career | No Comments

By Katie Wolf

Something needs to change. Maybe you don’t feel fulfilled anymore, you can’t stand your boss, or you’re bored with your industry. Maybe you were laid off, and you have no choice but to make a change. Whatever the situation, you’re starting to plot your next career move.

It’s an exciting place to be—the possibilities are endless! But when you’re not exactly sure what you want, it’s also disconcerting. How can you be sure you’re making the right decision?

SoFi career coaches Alexandra Dickinson and Gabby Bill recommend stepping away from the job boards for a second and taking the time to think about your next move strategically. Start with these six steps.

SoFi Blog

Tips and news—for your financial moves.