Save on your student loans by choosing between a range of rates and terms. No prepayment penalties and no hidden fees. Ever.
Save thousands of dollars thanks to low fixed and variable rates.
Simple online application and access to live customer support 7 days a week.
No application or origination fees. No pre-payment penalties.
Get a 0.125% rate discount on additional SoFi loans—just for being a member.✝✝
The student loan refinancing process is fast, easy, and can be done entirely online.
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.
We’ll let you know if you’re qualified before you finish the full application.
Choose between saving on your monthly payment or saving on total student loan interest.
Upload screenshots of your information, then sign your paperwork electronically.
We pay off your servicer(s) and issue you one new student loan.
It takes only two minutes and
won't affect your credit score.✝
“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.”
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.
Yes, SoFi will consolidate all qualified education loans.
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.
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.
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/
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.
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