Private Student Loan
Parent Rates & Terms


The following examples depict the term, APR, monthly payment amount, and total payments during the life of a $10,000 private student loan with a single disbursement. All student loan rates below are shown with the autopay discount (0.25%). SoFi does not charge application fees, origination fees, insufficient fund fees, or late fees, and there are no prepayment penalties. Enrolling in autopay is not required to receive a loan from SoFi.

For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin of between 1.58% and 9.98%. The current one-month LIBOR rate is 2.41%. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease. Interest rates for variable rate loans are capped at 13.95%, unless required to be lower to comply with applicable law.

If approved for a loan, the interest rate you receive will be within the ranges listed below, but will depend on a number of factors including: your loan term, your selected repayment type, your financial history, and other financial factors. Not all applicants qualify for the lowest rate. If approved for a loan, to qualify for the lowest rate, you must have a responsible financial history and meet other conditions. Your actual rate will be within the range of rates listed below and will depend on a variety of factors, including evaluation of your credit worthiness, years of professional experience, income and other factors. State restrictions and other terms and conditions may apply.

How to read the repayment tables

For the tables below, the interest-only in-school repayment option assumes that your student remains in school for 4 years (the deferment period) before the loan term begins. The immediate repayment option assumes full payment begins 1 month after full disbursement.

SoFi reserves the right to change interest rates at any time and without notice. Such changes will only apply to applications begun after the effective date of the change. Calculations are estimates only.

Fixed Rate Loans

Repayment Type:
Immediate Make principal and interest payments while student is in school

Term
(years)
APRMonthly payment amount
during deferment period
Monthly payment amount
during the loan term
Total of Payments
55.05% – 10.31%N/A$188.94 – $214.00$11,336.49 – $12,839.94
105.86% – 10.71%N/A$110.32 – $136.11$13,238.25 – $16,333.63
156.21% – 11.21%N/A$85.52 – $114.98$15,394.40 – $20,696.73
Repayment Type:
Interest Only Make only the interest payments while student is in school

Term
(years)
APRMonthly payment amount
during deferment period
Monthly payment amount
during the loan term
Total of Payments
55.55% – 10.81%$49.58 – $90.08$191.24 – $216.48$13,972.05 – $17,853.17
106.36% – 11.21%$53.00 – $93.42$112.84 – $138.94$16,402.43 – $21,717.47
156.71% – 11.71%$55.92 – $97.58$88.27 – $118.16$18,907.98 – $26,537.84

Variable Rate Loans

Repayment Type:
Immediate Make principal and interest payments while student is in school

Term
(years)
APRMonthly payment amount
during deferment period
Monthly payment amount
during the loan term
Total of Payments
53.99% – 9.99%N/A$184.12 – $212.42$11,047.21 – $12,745.27
104.79% – 10.39%N/A$105.04 – $134.32$12,605.04 – $16,118.38
154.89% – 10.89%N/A$78.51 – $112.97$14,131.36 – $20,334.58
Repayment Type:
Interest Only Make only the interest payments while student is in school

Term
(years)
APRMonthly payment amount
during deferment period
Monthly payment amount
during the loan term
Total of Payments
54.49% – 10.49%$37.42 – $87.42$186.38 – $214.89$13,203.58 – $17,613.87
105.29% – 10.89%$44.08 – $90.75$107.49 – $137.13$15,279.14 – $21,355.87
155.39% – 11.39%$44.92 – $94.92$81.13 – $116.12$17,028.14 – $26,027.21
Private Student Loan variable rate loans for all terms are capped at 13.95%.

Rates in this table reflect prices as of 7/1/2019.

**Private Student Loan: The SoFi 0.25% autopay interest rate reduction requires you to agree to make 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.

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