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.

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This content is for educational and informational purposes only. The products, services, or features discussed may not currently be available via the SoFi platform. Any references to third-party products, services, or companies do not constitute an endorsement, recommendation, or solicitation by SoFi. Readers should independently evaluate their options and consider their individual financial needs and circumstances before making any decisions. ©2026 SoFi Technologies, Inc. All rights reserved.

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