Credit cards. They’re just small, rectangular pieces of plastic, yet have the ability to help people prosper—or cause unexpected financial damage. SoFi members Peter and Gloria Hoch of St. Louis, Missouri, know something about that. Together for 36 years, the couple racked up about $23,000 in credit card debt in just over five years.
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Welcome to our new 3 People series, where we meet three professionals from diverse backgrounds, cities and careers, who open up about their finances, careers and overcoming student loan debt. Each person’s financial picture, student loans, and repayment strategy differs; however, each refinanced their student loans through SoFi to take control of student debt and pay off their loans faster.
The years following undergrad or grad school are filled with opportunities for you to own your career. Unfortunately for many, along with honing skills and making great connections comes a not-so-fun task: paying down student loan debt. On the plus side, since student loans represent investments in your future, they’re considered “good debt.” Yet, recent statistics put nearly 40 million Americans (including approximately 70% of bachelor degree recipients) in debt with student loans totaling about $1.2 trillion.
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Get $200 when your loan is disbursed by applying through this page.‡
Are you paying more than 11% interest on your credit cards? A SoFi Personal Loan could help you save thousands. With a low fixed rate and monthly payment, you can pay off high interest debt, like credit cards, or make a major purchase. It only takes minutes to apply.
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