Refinance Student Loans

Save thousands on
your student loans.

It’s fast and easy.

Find My Rate

Checking your rate will not affect your credit score^✝.

SoFi is the leading student loan
refinancing provider.

$18 billion in refinanced student loans

250,000 + members who've refinanced

98% would recommend SoFi to a friend³.

Pick the loan that works for you.

Save on your student loans by choosing between a range of rates and terms. No prepayment penalties and no hidden fees. Ever.

Fixed Rate

Rates available from 3.890% APR to 8.074% APR when you enroll in AutoPay.¹

Variable Rate

Rates start from 2.540% APR to 7.115% APR when you enroll in AutoPay.¹

Find My Rate Learn More

Why refinance
with SoFi?

Serious savings

Save thousands of dollars thanks to low fixed and variable rates.

Fast, easy, and all online

Simple online application and access to live customer support 7 days a week.

No hidden fees–No catch

No application or origination fees. No pre-payment penalties.

650+ credit score

Qualified borrowers with scores of 650 or higher can be approved for refinancing. Learn More.

How it works:

The student loan refinancing process is fast, easy, and can be done entirely online.

New Term
APR
5-year
4.03%
7-year
4.57%
10-year
4.98%

View Payment Examples
SoFi offers a range of terms and rates—so yours are going to look different from this illustrative chart, which is just something designed to show you what the SoFi app looks like.

Get pre-qualified online in just two minutes.

We’ll let you know if you’re qualified before you finish the full application.

Select your rate and term.

Choose between saving on your monthly payment or saving on total student loan interest.

Verify your info and sign.

Upload screenshots of your information, then sign your paperwork electronically.

Switch to one low-rate monthly payment.

We pay off your servicer(s) and issue you one new student loan.

Find my rate

It takes only two minutes and
won't affect your credit score.^✝

Meet Brittany

“SoFi refinancing my student loans probably saved around $20K. SoFi just stood out to me. It’s personal. It’s not a robot. It’s not a bank. It’s just people, and they want to help.”

- Brittany, SoFi member

Meet Reina

"Refinancing my student loan with SoFi was probably one of the smartest things I’ve ever done."

- Reina, SoFi member

Common questions

Q: Who should refinance?
–+

Refinancing is a great solution for working graduates who have high-interest, unsubsidized Direct Loans, Graduate PLUS loans, and/or private loans. Federal loans do carry some special benefits, for example, public service forgiveness and economic hardship programs, that may not be accessible to you after you refinance. Check out this blog post that provide more information: When to Consolidate Federal and Private Loans by Refinancing. Or, call us for a free consultation about your particular situation.

Q: Can I refinance both federal and private student loans?
+–

Yes, SoFi will consolidate all qualified education loans.

Q: Am I a good candidate to refinance my student loans with SoFi?
+–

SoFi aims to revolutionize financial services- ultimately improving the system for everyone. Today, we’re able to offer significant savings and flexibility to US citizens or permanent residents who have graduated from a selection of Title IV accredited university or graduate programs, are employed, has a sufficient income from other sources, or hold a job offer with a start date within 90 days, have a responsible financial history, and a strong monthly cash flow.

Q: What is the difference between consolidating and refinancing?
+–

Student loan consolidation is when you combine multiple loans into one single loan. Student loan refinancing, on the other hand, is when you get a new loan at a new interest rate and/or a new term. You can refinance both federal and private loans. Learn more here.

Q: What’s the difference between fixed and variable rate loans?
+–

Fixed rate loans are loans that have an interest rate that does not change over the life of a loan, which means you pay the same amount each month. It also means you know with certainty the total interest that you’ll pay over the life of the loan. Fixed rate is a general term that can apply to different types of loans with a variety of uses, including student loans, mortgages, auto loans, and unsecured personal loans.

Variable rate loans are loans that have an interest rate that will fluctuate over time in line with prevailing interest rates. They generally have lower starting interest rates than fixed rate loans, but the interest rate and payment amounts can change over time. Sometimes they are also known as floating rate loans.

Learn more at https://www.sofi.com/fixed-vs-variable-rate-loans/

Q: Where can I find more information about student loans in general?
+–

Deciding how to best handle your student loan obligations can be an intimidating process. That’s why we’ve put together our Student Loan Help Center to give you guidance on payments, refinancing, budgeting, and common terminology so you can feel more confident in your journey to becoming debt free.

See FAQs

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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 permanent resident in an eligible state and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. To qualify for the lowest rate, you must have a responsible financial history and meet other conditions. 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, a responsible financial history, years of experience, income and 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 such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Business Oversight under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp., 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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