Parent Plus Loan Refinancing
Rates & Terms

The following examples depict the APR, monthly payment and total payments during the life of a $10,000 private loan with a single disbursement.* All rates below are shown with the Autopay Discount (0.25%). There are no application or origination fees, and no prepayment penalties.

For variable rate loans, the current index rate is 5.32% 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 8.95% APR, 15 Year terms are capped at 9.95% APR to the extent permitted under law.

Your actual interest rate may be different than the rates in these examples and will be based on term of loan, your financial history and other factors, including your cosigner’s (if any) financial history. State restrictions may apply.

Fixed Rate Loans

Terms Rate Repayment
APR		 No. of
Payments		 Monthly
Payment		 Total
Payments
5 Year 5.24% – 9.07% 5.24% – 9.07% 60 $189.81 – $207.92 $11,388.83 – $12,475.41
7 Year 5.75% – 9.34% 5.75% – 9.34% 84 $144.89 – $162.62 $12,170.76 – $13,660.22
10 Year 5.85% – 9.34% 5.85% – 9.34% 120 $110.27 – $128.52 $13,232.25 – $15,422.78
15 Year 6.10% – 9.34% 6.10% – 9.34% 180 $84.93 – $103.46 $15,286.84 – $18,622.65

Variable Rate Loans

Terms Rate Repayment
APR		 No. of
Payments		 Monthly
Payment		 Total
Payments
5 Year 6.24% – 9.32% 6.24% – 9.32% 60 $194.45 – $209.14 $11,666.76 – $12,548.40
7 Year 6.54% – 9.59% 6.54% – 9.59% 84 $148.69 – $163.90 $12,489.80 – $13,767.69
10 Year 6.54% – 9.59% 6.54% – 9.59% 120 $113.75 – $129.89 $13,650.19 – $15,586.90
15 Year 6.54% – 9.59% 6.54% – 9.59% 180 $87.33 – $104.97 $15,719.54 – $18,893.92

Parent Plus Refinancing variable rate loans for 5, 7 and 10 Year terms are capped at 8.95% APR, 15 Year terms are capped at 9.95% APR.
Rates in this table reflect prices as of 9/11/23.

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1 NOTICE: The debt ceiling legislation passed on June 2, 2023, codifies into law that federal student loan borrowers will be reentering repayment. The US Department of Education or your student loan servicer, or lender if you have FFEL loans, will notify you directly when your payments will resume. For more information, please go to https://docs.house.gov/billsthisweek/20230529/BILLS-118hrPIH-fiscalresponsibility.pdf
https://studentaid.gov/announcements-events/covid-19

If you are a federal student loan borrower you should take time now to prepare for your payments to restart, including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income based repayment plans or extended repayment plans.

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status and and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 1121636. (www.nmlsconsumeraccess.org)

✝︎ 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 and may affect your credit.

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