Aug
23
2023
SoFi Blog
Tips and news—
for your financial moves.
Aug
23
2023
Aug
23
2023
SoFiatWork Student Debt Guide
STUDENT DEBT GUIDE
Student loan payments
causing stress?
You’re not alone.
43+ million people are right there with you. And there’s
a date coming up—September 30, 2024. That’s when loan
servicers may begin reporting default loans to credit bureaus.
We can help you get back on track so you can tackle
your loans and avoid credit score snags—fast.
Webinars that can help you.
Get valuable guidance from a financial team who understands exactly what you’re going through. They’ll break it all down for you and help you make a plan.
Student loan facts.
There’s a lot to know about managing your student loan debt. Let’s start with the current student loan landscape.
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The latest on student loan repayment
The latest on student loan repayment:
• Student Loans Payments Are Back. Here Are All the Dates You Need to Know
Borrowers who haven’t begun federal student loan repayment may be facing loan servicers reporting default loans beginning September 30, 2024. Are you prepared? Read more.• What Student Loan Repayment Plan Should You Choose? Take the Quiz
You can take this quiz to get a better understanding of each option and see example scenarios that could be similar to yours. Read more.• 4 Student Loan Repayment Options—and How to Choose the Right One for You
Here’s an overview of repayment options that may help if you are choosing a repayment plan. Read more.
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Student loan forgiveness
Student loan forgiveness:
• You Can Still Put off Repaying Your Student Loans. Should You?
Interest continues to accrue whether you pay your loans or not. While you might buy yourself some time during the on-ramp period, you could be doing yourself more harm than good. Make sure you’re informed. Read more.• Student Loan Trend Watch: Hurdles for Federal Loan Relief
Federal student debt relief has been a moving target wrought with legal challenges in several states. Stay informed about your options so you don’t fall behind. Read more.• Public Service Loan Forgiveness (PSLF)
If you work for a U.S. federal, state, or local agency, non-profit,or tribal organization, you may qualify for loan forgiveness if all conditions are met. Explore the possibilities in our PSLF resource hub.
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Interest rates and inflation
Interest rates and inflation:
• Why Are Student Loan Rates So High?
Over the past three years, undergraduate loan rates have doubled, and other student loan rates have risen similarly. Read more.• 3 Factors That Affect Student Loan Interest Rates
Student loan rates change on a regular basis and are determined by different factors. Read more.• How Rising Inflation Affects Student Loan Interest Rates
For people with variable-rate student loans, or any kind of debt, it could pay to watch inflation. Read more.• Federal Reserve Interest Rates, Explained
There’s a connection between the Fed’s interest rate decisions, the national economy, and your personal finances. Read more.
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Get your questions answered.
We created this comprehensive SoFi at Work Guide to Student Loans so you have everything you need all in one place. You’ll get info on types of loans, who you should call, when to pay, and a lot more.
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Is refinancing right for you?
Refinancing some or all of your student loans could potentially reduce the interest on your payments—but there could also be some downsides, like losing the benefits of a federal loan. Keep in mind you can always refinance now and do it again later if interest rates drop further.
Here are more articles to read if you’re considering refinancing at this time:
Have more questions?
Our team is here to help.
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SoFi at Work Student Loan Specialists
Our specialists can help you manage the complexities of debt, identify ways to help you increase your cash flow and lower your monthly payments—and much more. Call 888-594-2936 or schedule a call below.
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SoFi Financial Planners
Our financial planners provide complimentary advice based on your
unique needs and financial goals, including paying back
student loans—and more.
Aug
23
2023
Active Investing | SoFi Partners
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{/* updated 1/19/23 */}
Become an investor—
with no commissions.†
Make your first trade or your next trade with active investing. Learn the market as you do-it-yourself. Plus, get up to $1,000 in stock when you fund a new account.*
Trade now
*Customer must fund their Active Invest account with at least $10 within 30 days of opening the account.
Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
The hands-on way to put your
money to work.
Active Investing with SoFi lets you quickly get started investing in stocks and ETFs.
Pay zero commission.
Buy and sell stocks with no commissions*. Plus, there are no account minimums.
Learn by doing.
Anyone can be a smarter investor with news updates and more—all in the SoFi app.
Join a community.
Connect with other SoFi members at exclusive events and experiences.
*Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.
Be an investor—
the commission-free way.
Our thought is that you shouldn’t have to pay to invest and trade your own money. That’s why you’ll pay $0 in SoFi commission on every trade, every time.
Own a slice.
With fractional shares you can buy a piece of your favorite company without having to buy a whole share, meaning you can get started with as little as $5. Restrictions apply*.
Knowledge is trading power.
Stay up—to—date with real—time investing news, curated content, and other relevant data
by creating a personal watchlist and following the stocks that matter most to you.
New Feature!
Finally! An easier options trading experience.
Options are now available on SoFi.^ Trade from app or desktop on a user-friendly platform that comes with an in-app trade guide and a range of educational resources.
Get started
Learn more
*Check out the OCC Options Disclosure Document.
Increase your buying power
with margin investing.
Margin accounts allow investors to use their current cash or securities as collateral for a loan. Borrow money from SoFi against your current investments at 10.50% to buy stocks and ETFs.* Learn more →
Invest in what you love.
Trade stocks of brands you know and believe in and discover new opportunities based on your interests along the way.
Do it yourself—
but not alone.
Once you start investing with SoFi, you’re in. As a member you’ll get access to rate discounts on other SoFi products and invites to exclusive experiences so you can connect with others who are also on a mission to get their money right.
Ready to go?
Start making trades the commission—free way in just two minutes
Trade now
Please review the Customer Relationship Summary (Form CRS) which contains important information about the product, services, fees, and conflicts of interests of SoFi Securities LLC.
You may also learn more about SoFi Securities LLC and its Representatives on FINRA’s BrokerCheck.
Learn more about trading stocks.
See more investing articles
FAQs
What is active share investing?
Active investing is the trading individual stocks or bonds in an attempt to beat the ‘market’. Active investing allows you to put in place a strategy that’s tailored to your preferences, goals, and risk tolerance.
What is the difference between active and passive investing?
Passive investing allows you to put your money in a group of stocks, such as an index fund or exchange-traded fund (ETF), and mostly sit back, whereas Active Investing lets you buy and sell on your own.
What are the risks of margin investing?
Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin.
How do I start active investing with SoFi?
Opening an account with SoFi Invest® can be a good way to start trading on your own. There are no account minimums, and no commissions for stocks and ETFs so you can get started with whatever amount you are comfortable with.
What is the minimum amount to start active investing?
SoFi does not require a minimum account balance so investors of all levels have access to the market.
What are the limitations of fractional shares?
Not all stocks are offered in fractional shares, and liquidity may not be available immediately. Fractional shares may not be available for ACAT, and voting rights may not be available for fractional shares.
See more FAQs
Personal Loan Terms
Fixed rates from 8.74% APR to 35.49% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 12/15/25 and are subject to change without notice. The average of SoFi Personal Loans funded in 2022 was around $30K. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.
Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-6%, which will be deducted from any loan proceeds you receive.
PERSONAL LOAN INTEREST RATES AND FEES | ELIGIBILITY AND IMPORTANT DETAILS. Annual percentage rates (APRs) shown include the 0.25% autopay discount. If approved for a loan, the rates and terms offered will depend on things like creditworthiness, the length of the loan, and other factors, and will fall within the range of rates available by applicable loan term; check out our full APR examples and terms. Remember, not all applicants will qualify for the lowest rate. Want to learn more? See our eligibility criteria at SoFi.com/eligibility-criteria. SoFi reserves the right to change interest rates at any time without notice, changes would only apply to applications begun after the effective date of the change. Fixed Rates: Fixed rates range from 8.74% APR to 35.49% APR (with autopay). 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. Enrolling in autopay is not required to receive a loan from SoFi. Loan Terms: SoFi Personal Loans offer loans with a period of repayment between 2 and 7-year terms. Loan Fees: SoFi personal loans have no fees required; specifically, no origination fees required, no late fees, no prepayment penalties.
PERSONAL LOAN | REPAYMENT EXAMPLE. The following example depicts the APR, monthly payment and total payments during the life of a $30,000 personal loan with a 2-year repayment term, a 0.25% autopay discount, and a fixed rate between 8.74% APR to 35.49% APR. It works out to 24 monthly payments ranging from $1,356.68–$1,529.07 for a total amount of payments ranging from $32,560.37–$36,697.76. This repayment example assumes that the borrower is signed up for autopay and that all payments are made on time, with no pre-payments. Actual rates may vary based on repayment term, loan amount, creditworthiness, and other terms and conditions. SoFi does not offer variable rate personal loans. State restrictions may apply.
Read more
Aug
23
2023
Stay up to date on the latest business news and stock market happenings.