Student Loan Refinancing
New rates just dropped.
Your monthly student loan payment could too.
View your rate
Checking your rate will not affect your credit score.
Refinancing your student loans could save you thousands. Plus, we just dropped rates, which means even bigger savings.
View your rate
Checking your rate will not affect your credit score.
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No fees required
No origination fees, pre-payment, or late fees.
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Competitive Fixed Rates2
Low fixed rates that could help you save more.
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Flexible term options
Flexible term options that fit your budget.
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Real stories from real grads.
550,000+
SoFi members have refinanced their student loans
$47 billion+
in student loans refinanced
Why refinance student loans?
Refinancing could help you pay off your student loan debt sooner or bring down your monthly payment amount—all on your terms.
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You could lower your interest rate with no fees required.
A competitive fixed or variable student loan refinance rate could help you save thousands.
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Pay off your loan sooner.
A shorter term can help you pay off your loan sooner. Plus, you could receive a special rate discount with autopay.3
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Simplify your finances.
Consolidate all your student loan debt into one easy payment.
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Free up more cash.
You could lower your monthly payments and put more money toward other goals, like buying a home and saving for retirement.
SOFI PLUS EXCLUSIVE
Get an extra rate discount on your student loan refinance with
SoFi Plus.5
View your rate
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You could save thousands when you refi with SoFi.
Here is a hypothetical example of potential savings on a student loan refinance with a $50,000 balance and a 10 year repayment term.
Example chart shows calculations based on a 10-year term and a $50,000 loan balance. Estimated monthly payments for the standard Student Loan Refinance are based on 6.34% APR (the average interest rate for all SoFi refinance loans from 2/28/24 to 2/28/25). Estimated monthly payments for “Current Loan” are based on a hypothetical loan with 8.55% APR (SoFi borrowers’ average incoming rate from 2/28/24 to 2/28/25) with a remaining term of at least 10 years. Calculations assume no origination fee option selected and no pre-payment amounts. Your rate on a new SoFi loan will depend on various factors, including the term of your loan, your credit history, and your cosigner’s (if any) credit. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE.
*You may pay more interest over the life of a new SoFi loan if you refinance. Visit our Student Loan Refinancing calculator to compare the terms of your existing loan to potential refinance options.
Use our Student Loan Refi Calculator to see how much you could save by refinancing student loans with SoFi.
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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.2
View your rate
Checking your rate will not affect your credit score.†
Find your low, fixed interest rate.
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
Why choose SoFi?
Since 2011, we’ve helped over 550,000 members refinance their student loan debt. Here’s just a bit of what they enjoy:
-
Serious savings.
Zero required fees.
You could save thousands with a lower interest rate and no fees required.
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Easy online process
Your time matters. View your
rate in minutes.
-
Member benefits
Access SoFi Travel benefits3, our debt summary tool, rewards points4 to pay toward loans, and more.
View your rate}
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How to refinance{‘ ‘}student loans.
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Let’s find a loan that fits you.
Take a short quiz for a recommendation on a loan that meets your money needs now.
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.
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 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. They generally have lower starting interest rates than fixed-rate loans, but the interest rate and payment amounts can change over time. 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.
Do you offer a rate discount?
Yes, we offer an autopay discount, as well as a direct deposit discount. The autopay discount is a 0.25% interest rate reduction on loans in which you authorize the loan servicer to automatically deduct monthly payments from any bank account you choose. Additionally, we offer a 0.125% rate discount on your Student Loan Refinancing if you enroll in SoFi Plus within 30 days of the loan funding (either by receiving an Eligible Direct Deposit to your SoFi Checking and Savings account, or by paying the SoFi Plus Subscription Fee. See what qualifies as an Eligible Direct Deposit here: https://www.sofi.com/terms-of-use/#slr-discount
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
Tips and resources for
student loan refinancing.
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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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 12/14/25 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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