Why should I choose SoFi Private Student Loans?

SoFi is different, and we’re not just saying that. Our loans offer competitive rates and flexible terms with no fees, an easy all-online application, flexible repayment plans, and U.S. based support when you need it. And you can check your rate in just 3 minutes.

Do I need a cosigner? WHat are the benefits to having a cosigner?

No, but rates for undergrads are typically higher without a cosigner. Most undergraduate students have limited credit history and income; having a cosigner with a solid financial history and good, established credit may help improve your chances of loan approval. It might even help you qualify for a lower interest rate. With SoFi’s online application process, you and your cosigner can see what rates and terms you pre-qualify for before submitting your full loan application—and it won’t impact your credit score.

What information do I need to apply?

Student: Social Security number, School information (estimated graduation date and academic term), Loan amount (how much you’d like to borrow), Financial aid you expect to receive, Proof of income (if applicable), Cosigner (if applicable:), Social Security number, Annual income & proof of income, Government-issued ID

Do I need to be a full-time student to obtain a SoFi Private Student Loan?

You do not need to be a full time student, but you must be enrolled in a degree-seeking program at an eligible school and be attending classes at least half-time. Check out our full eligibility requirements to learn more.

Do you require students to make Satisfactory Academic Progress (SAP) in order to receive the loan?

Yes, and we ask the school to verify SAP during the school certification process according to their own definition. In general, this means that you have to make good enough grades, and complete enough classes (credits, hours, etc.) to keep moving toward successfully completing your degree in a time period that’s acceptable to your school. Each school has an SAP policy for financial aid purposes—if you’re not sure what your school’s SAP policy is, check their website or ask someone in their financial aid office.

Undergraduate Student Loans | Low Interest Rates With SoFi

Get a better private student loan rate offer elsewhere? Call (855) 456-SOFI or chat with us to see if we can match it.^

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.

✝ 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.

^ Rate Match Offer: Your pre-qualified rate, and the rate match program itself, are conditional upon our verification of your application information, including verification of sufficient income to support an ability to repay. Eligible documentation of a competitor’s rate offer will be determined at SoFi’s sole discretion and must be for the same loan amount, term, and repayment type. SoFi will only match rate offers for private student loan products and will only match down to 1.0% of the rate originally offered to the borrower and will only match to the lowest rate available from SoFi. SoFi will only rate match for the following companies: Sallie Mae; Commerce Bank; M&T Bank; National Education; Regions Bank; Pen Fed; College Ave; Citizens Bank; Discover; MEFA; PNC; Nelnet; Earnest; Union Federal; Custom Choice; AAA. The match will be on the rate, exclusive of all discounts. To receive the Rate Match, you must: (1) register and/or apply for a private student loan (2) provide documentation of an eligible competitive rate offer; (3) call at (855) 456-SOFI (7634) or Chat and follow the instructions to send in your proof of lower rate; (4) meet SoFi’s underwriting criteria and book a private student loan with SoFi. Additional terms and conditions may apply. SoFi may discontinue this program at any time.

SoFi loans are originated by SoFi Lending Corp. or an affiliate (dba SoFi), a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license number 6054612; NMLS # 1121636. (www.nmlsconsumeraccess.org). Terms, conditions, and state restrictions may apply.

TLS 1.2 Encrypted

Equal Housing Lender

Received a mailer from us?