✝ 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.
SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). Terms and conditions apply.
1New Borrower & Continuing Scholar Discount
Terms and conditions apply. Offer good for new and repeat borrowers that apply for and are approved for a SoFi Private Student Loan. To receive the offer, you must: (1) complete a loan application with SoFi between 11/11/26 12:01AM PT to 2/1/27 11:59PM PT; and (2) meet SoFi’s underwriting criteria. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.25% rate discount. Offer cannot be combined with any other rate discounts, with the exception of the 0.25% autopay rate discount. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice.
^ Partial Payments-Negative Amortization: Certain repayment options, including Deferred (where you make no payments while in school) and Partial repayment ($25 per month while in school), may not pay all of the interest due each month during the deferment period, which may lead to negative amortization and an increased principal balance. Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
SoFi Member Rewards: All terms and conditions applicable to the use of SoFi Member Rewards apply. To learn more about SoFi Member Rewards, please see the Rewards page. No points will be earned with respect to reversed transactions, returned purchases, or other similar transactions. When you elect to redeem rewards points toward active SoFi accounts, including but not limited to, your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, SoFi Credit Card account, SoFi Personal Loan, Private Student Loan, Student Loan Refinance, or toward SoFi Travel purchases, your rewards points will redeem at a rate of 1 cent per every point. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA /SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A.
The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments 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. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.
^ 0.25% Family Rate Discount: Terms and conditions apply. Offer good for SoFi private student loan cosigners who have previously borrowed a private student loan from SoFi and are taking out a subsequent loan only, select a term and repayment type that is eligible for the discount, and is subject to lender approval. To receive the offer, you must: (1) complete a loan application with SoFi; (2) meet SoFi’s underwriting criteria. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.25% rate discount because you have borrowed a private student loan from SoFi in the past. Offer good for existing private student loan cosigners only. Cannot be combined with other rate discounts, with the exception of the 0.25% autopay rate discount and the SoFi Member Discount. Once the family discount benefit is earned, it cannot be lost. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice.
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1 Reward Eligibility
If eligible, you may receive one cash reward to a SoFi Checking and Savings account. The cash reward offered is $100 for single-semester loans and $250 for full-year loans.
You will be eligible to receive the cash reward to a SoFi Checking and Savings account on the school-certified loan amount if:
- You must be a US citizen or permanent resident
- Must be 18 years of age or older
- Your cumulative Grade Point Average (GPA) for the academic period in which your loan was taken out is at least a 3.0.
- Must have applied for and/or have an existing SoFi Checking and Savings account under the same name listed on your SoFi Private Student Loan
- You took out a SoFi Private Student Loan for the Fall 2024 semester or any semester/year after.
- You signed your loan agreement for a SoFi Private Student Loan during the promotional period.
- The first disbursement on your eligible student loan has been sent to your school.
Please note: If you apply for and are approved for multiple loans, you will be eligible to receive the reward once for the academic year associated with your loan(s). For example, if you took out a loan for Fall and Spring semesters of different years, only one of those loans would be eligible for Good Grades Rewards.
Your final reward amount will be determined by the length of your loan period.
This reward is considered taxable income and may be reported on IRS Form 1099-MISC. We recommend you consult a tax professional for advice.
It is your responsibility to notify us if you do not receive an expected cash reward, once you complete and submit the redemption form. You can contact SoFi at (855) 456-SOFI (7634) or via the chat function in the app.
Reward Redemption
To redeem the reward, you must log in to your SoFi account and fill out the redemption form. The form should be completed after accepting the loan and receiving your cumulative GPA for the academic period associated with the loan. The redemption form will become available after the first disbursement of your loan has been received by your school.
Upon self-attestation of your cumulative GPA, a credit of $100 or $250 will be added to the SoFi Checking and Savings account registered under your name.
If you do not have a SoFi Checking and Savings account, you must first apply and be approved for an account under the same name listed on your SoFi Private Student Loan.
In the event your SoFi Checking and Savings account application is declined, we will give you the equivalent of the bonus amount that you qualify for in SoFi Member Reward points. You must be enrolled in the SoFi Members Rewards program to receive rewards points.
SoFi Member Rewards: All terms and conditions applicable to the use of SoFi Member Rewards apply. To learn more about SoFi Member Rewards, please see the Rewards page. No points will be earned with respect to reversed transactions, returned purchases, or other similar transactions. When you elect to redeem rewards points toward active SoFi accounts, including but not limited to, your SoFi Checking or Savings account, SoFi Money® account, SoFi Active Invest account, SoFi Credit Card account, SoFi Personal Loan, Private Student Loan, Student Loan Refinance, or toward SoFi Travel purchases, your rewards points will redeem at a rate of 1 cent per every point. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA/SIPC. SoFi Securities LLC is an affiliate of SoFi Bank, N.A.
We may request additional documentation to verify the GPA (or equivalent) provided on the redemption form.
Changes to These Terms and Conditions
The Student Loan Rewards for Good Grades Program may end at any time. These Terms and Conditions are subject to change without notice. Changes may include, but are not limited to, changing the redemption methods or imposing additional conditions.
^*PRIVATE STUDENT LOAN PAYMENT DISCLOSURE:
5-YEAR Payment Example: The fully amortizing payment for a 60 month term, loan amount of $50,000 with an Annual Percentage Rate of 8.040%, would be $1014.78 per month (includes both principal and interest). The total amount of interest paid over that 5yr period would be $10,886.63. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
7-YEAR Payment Example: The fully amortizing payment for a 84 month term, loan amount of $50,000 with an Annual Percentage Rate of 10.030%, would be $830.83 per month (includes both principal and interest). The total amount of interest paid over that 7yr period would be $19,790.09. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
10-YEAR Payment Example: The fully amortizing payment for a 120 month term, loan amount of $50,000 with an Annual Percentage Rate of 9.670%, would be $651.65 per month (includes both principal and interest). The total amount of interest paid over that 10yr period would be $28,198.08. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
15-YEAR Payment Example: The fully amortizing payment for a 180 month term, loan amount of $50,000 with an Annual Percentage Rate of 9.790%, would be $530.90 per month (includes both principal and interest). The total amount of interest paid over that 15yr period would be $45,561.50. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
20-YEAR Payment Example: The fully amortizing payment for a 240 month term, loan amount of $50,000 with an Annual Percentage Rate of 9.09%, would be $452.76 per month (includes both principal and interest). The total amount of interest paid over that 20yr period would be $58,662.68. Interest rates and annual percentage rates (APRs) are for informational purposes only and are subject to change without notice.
All information in the payment examples listed above — including interest rates, payments, terms, and availability — is for informational purposes only and is subject to change without notice.
2 Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.