SoFi Blog

Tips and news—
for your financial moves.

SoFi Executive Chairman Tom Hutton Assumes Role of Interim CEO

Tom Hutton to Ensure Strategic Continuity as Board Accelerates Search Mike Cagney Resigns as CEO and Member of the Board Effective Immediately

September 15, 2017 – San Francisco, Calif. – The SoFi Board of Directors today announced that Executive Chairman Tom Hutton will expand his responsibilities and become interim CEO effective immediately, assuming day-to-day leadership of the company. The Board has accepted co-founder Mike Cagney’s resignation as CEO and as a member of the Board effective immediately and will accelerate its search for a new CEO.

“SoFi’s management and employees have built a remarkable company, and I look forward to helping the company continue to grow,” Hutton said. “The business is strong, stable and well-positioned. For now, there is no more important work than paving the way for future success by building a transparent, respectful and accountable culture.”

Hutton was appointed to the SoFi board June 2012. An initial investor in the company, he serves as managing director of XL Innovate, a venture capital firm focused on insurance and financial technology. He was formerly CEO of White Mountain Re Group and Risk Management Solutions Inc. He has served as a director of several private and public financial companies.

On Monday, the company announced that Steven Freiberg, acting CFO and a member of the SoFi board, will take on an expanded role as vice chairman. Freiberg, a 30-year financial services sector veteran, previously served as CEO of E*Trade and co-chairman and CEO of Citigroup’s Global Consumer Group.

About SoFi
SoFi is a new kind of finance company taking a radical approach to lending, wealth management and insurance. From unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success. Whether they’re looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result. For more information, visit SoFi.com.

Contact
SoFi PR
[email protected]

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SoFi Refi 0.25% rate discount | SoFi

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REFINANCE STUDENT LOANS


Fixed interest rates start at 3.99%


APR

1
,
2




(with all discounts).


Refinancing your student loans could save you thousands. Just be sure to apply through this page to enjoy the 0.25% rate discount2 exclusively available to you as a SoFi partner.


View your rate

✓ Checking your rate will not affect your credit score.

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Why choose SoFi?

Since 2011, we’ve helped over 515,000 members refinance their student loan debt. Here’s just a bit of what they enjoy:

  • Serious savings.
    Zero fees required.

    You could save thousands with a lower interest rate and no fees required.

  • Easy online process

    Your time matters. View your
    rate in two minutes.

  • Member benefits

    Access SoFi Travel benefits3, our debt summary tool, rewards points to pay toward loans4, and more.

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Real stories from real grads.

582,000+
SoFi members have refinanced their student loans

$50 billion+
In student loans refinanced

4.3/5 stars
On Trustpilot

4.3/5 star rating based on 9,668 reviews as of July 7, 2025. See trustpilot.com/review/sofi.com for more info.

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How refinancing student loans works at SoFi.

First, we’ll see if you qualify.

You can see some basic eligibility criteria for different loan types. Plus, we’ll consider other factors like your financial history, credit score, and monthly income versus expenses.

Then, you pick a loan with a competitive interest rate.

If you’re approved, you can select from flexible terms that could lower your interest or monthly payments. All with no fees required.

Don’t forget to get a discount.

For example, you could get a 0.25% interest rate discount by enrolling in autopay.1


View your rate



 Checking your rate will not affect your credit score.

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FAQs


Who should refinance their student loans?

Student loan refinancing is a great solution for working graduates who have high-interest, unsubsidized Direct Loans, Graduate PLUS loans, and/or private student loans. Federal student loans do carry some special benefits, for example, public service loan forgiveness and economic hardship programs, that may not be accessible to you after you refinance. Check out this blog post that provides more information: When to Consolidate Federal and Private Loans by Refinancing. Or, call us at 855-456-SOFI (7634) for a free consultation about your particular situation.



Is it worth it to refinance student loan?

The answer to this question depends on your specific financial situation. However, student loan refinancing may be a good option if you can qualify for a lower interest rate and/or a shorter repayment period. By reducing your rate and getting a lower monthly payment term, you’ll owe less interest over the life of the loan and save money in the long run.



Can I refinance both federal and private student loans?

Yes, SoFi will consolidate all qualified education loans.



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, have 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.



What is the difference between consolidating and refinancing student loans?

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.


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. Sometimes they are also known as floating-rate loans.

Find more info on Fixed vs. Variable Rate Loans.




Where can I find more information about student loans in general?

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



How will applying impact my credit score?

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. Learn more here.



What are the differences in refinancing federal vs. private loans?

When you refinance your federal student loans, you’ll have a new private loan, and private loans are not eligible for federal programs and benefits, but it could be a good option if your goal is to lower your monthly payments or get a lower rate. Once federal loans are refinanced into private loans, they can’t be converted back, so it’s important you consider all your options. Learn more here.



What’s the difference between an APR and an interest rate?

Your interest rate includes the interest percentage you will be charged for taking a loan out, accrued on a daily basis, and does not include any other fees. An APR is the sum of the interest rate plus extra fees and expressed as a percentage.


See all FAQs

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Tips and resources for
student loan refinancing.







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Get help from a human.

Ask questions and get help every step of the way from our live customer support team.

Operating hours:

Monday–Thursday 5am–7pm PT

Friday–Sunday 5am–5pm PT


Contact us


Contact us


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SoFi Announces CEO Mike Cagney To Step Down By Year End

Tom Hutton Named Executive Chairman; Steven Freiberg Named Vice Chairman

September 11, 2017 – San Francisco, Calif. – SoFi today announced that co-founder and CEO Mike Cagney plans to step down as the company’s chief executive before year end. The company has begun a search for Cagney’s successor as CEO, and Cagney will remain in the role until the board names a successor.

“I believe now is the right time for SoFi to start the search for a new leader,” Cagney said. “I could not be more proud of the company we’ve built together, and I look forward to passing the baton to a new CEO who can continue SoFi’s mission of revolutionizing personal finance, helping our members to get ahead and find financial success.”

SoFi also announced that the company’s Board of Directors has elected Tom Hutton as SoFi’s executive chairman, effective immediately. Cagney has stepped down as chairman.

Hutton was appointed to the SoFi board June 2012. An initial investor in the company, he serves as managing director of XL Innovate, a venture capital firm focused on insurance and financial technology. He was formerly CEO of White Mountain Re Group and Risk Management Solutions Inc. He has served as a director of several private and public financial companies.

“With Mike at the helm, SoFi has become a major, innovative player in consumer finance. We are grateful for all he’s done to help build this remarkable company,” Hutton said. “We’re confident that we can find and hire a great CEO to continue that innovation and drive excellent financial performance.”

Steven Freiberg, acting CFO and a member of the SoFi board, will take on an expanded role as vice chairman. Freiberg, a 30-year financial services sector veteran, previously served as CEO of of E*Trade and co-chairman and CEO of Citigroup’s Global Consumer Group. He sits on a number of corporate boards, including MasterCard and Regional Management Corp..

In the second quarter, SoFi funded $3.1 billion in loans, generating over $134 million in revenue (67 percent growth year over year) and $61.6 million in adjusted EBITDA (60 percent growth year over year). To date, SoFi has lent over $20 billion to the company’s more than 350,000 members, helping them finance their educations, buy houses, and invest for the future.

About SoFi
SoFi is a new kind of finance company taking a radical approach to lending, wealth management and insurance. From unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success. Whether they’re looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result. For more information, visit SoFi.com.

Contact
SoFi PR
[email protected]

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Personal Loans – Get Another Loan

Personal Loans

We’d love to
have you back.

Fixed Personal Loan Rates range from
7.74% APR to 35.49% APR (with AutoPay)5.

Log In

Checking your rate will not affect your credit score.

Get the money you need to reach your next goal

As a valued SoFi member, you’re our top priority—and that didn’t stop with your final payment. Count on us to help you accomplish what’s next. Whether it’s remodeling a room or financing career development, make it happen with a SoFi Personal Loan.


Why Choose a SoFi Personal Loan?

Serious
Savings

Borrow from $5k-$100k at fixed rates that start at 7.74% APR (with AutoPay)5.

No Fees.
No Catch.

No origination fees or pre-payment penalties. What you see is what you get.

Community
Benefits

If you lose your job, we’ll temporarily pause your payments and help you find a new job.4

Log In

What you can use a personal loan for

Personal Loan Use Case

Invest In
Your Career

Personal Loan Use Case

Pay Off Credit
Card Debt

Personal Loan Use Case

Take Care of
Medical Expenses

Personal Loan Use Case

Cover Your
Moving Expenses

Personal Loan Use Case

Invest in Home
Improvements

Personal Loan Use Case

Consolidate Other High
Interest Loans

Log In

So Easy

Find Your Rate

Get pre-approved online with no hidden fees and no obligation.

Select Your Loan & Apply

Choose the loan that works for you and complete your application.

Sign electronically and receive your funds

Sign your documents and funds are wired to your account.


Get Started

Trust And Security

$73 billion+
in funded loans


13.7M
members in our growing community.


256-Bit SSL

encryption to keep your information safe.

SoFi is regulated by the Consumer
Financial Protection Bureau

Questions? Call us for a free consultation at 855-456-7634.

Log In

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SoFi Announces ‘SoFi Accelerate’, A Career Retreat for Young Professionals

This fall, SoFi will host one-day workshops outside Chicago, San Francisco, and New York City for career-driven millennials

SAN FRANCISCO, Calif. – September 7, 2017 – SoFi today announced its first-ever ‘SoFi Accelerate’ event series for ambitious millennials looking to break away, look beyond, and get ahead in their careers. SoFi Accelerate is a series of one-day retreats taking place just outside Chicago, New York City, and San Francisco that will give event attendees the time and space to think big—as well as the tools and structures to make their career goals happen.

Launching in September, the retreats will consist of creative visioning and leadership exercises, career strategy sessions with SoFi career advisors, and inspirational talks from unconventional thinkers like criminal justice reform advocate Adam Foss, Stanford professor and co-founder of Electronic Arts Dave Evans, and Gretchen Rubin, author of New York Times bestseller The Happiness Project, among others on how to set and achieve professional goals.

“SoFi cares about more than money. We care just as much about our members’ careers and relationships,” says Joanne Bradford, SoFi’s Chief Marketing Officer. “We hear every day from members who are either looking to energize their existing career path, or chart an entirely new course. With SoFi Accelerate, we’ve created an environment for young professionals to explore how to do both.”

The event also includes transportation to and from the retreat venues, complimentary breakfast and lunch, and a concluding cocktail reception. Both members and non-members can learn more about the program here and sign up via links to each city: www.sofi.com/blog/introducing-accelerate-sofis-first-ever-career-retreat/

The SoFi Accelerate experience will include:

UNCONVENTIONAL VENUES
SoFi Accelerate will offer its programming in unconventional retreat settings to encourage expansive views and open minds. These venues include the Chicago Botanic Garden (Glencoe, IL), Grounds for Sculpture (Hamilton Township, NJ), and Montalvo Arts Center (Saratoga, CA).

UNEXPECTED SPEAKERS
A panel of experts from unexpected (i.e. outside of the financial planning realm) and highly relevant disciplines discuss how to create and execute on life, career, and financial goals. These speakers will include:

Chicago – September 24, 2017
● Ryan Holiday: Writer, media strategist, entrepreneur, and editor-at-large for the New York Observer
● Adam Foss: Criminal justice reform advocate; co-founder of Roxbury CHOICE Program, a collaborative effort between defendants, the court, the probation department, and the D.A. to recast probation as a transformative experience rather than a punitive process

San Francisco – October 1, 2017
● Dave Evans: Former tech executive at Apple and Electronic Arts, Stanford d. School professor, and co-author of the New York Times Bestseller Designing Your Life
● Irene Au: Operating partner at venture capital firm Khosla Ventures, former head of User Experience at Google

New York City – October 15, 2017
● Gretchen Rubin: New York Times bestselling author of The Happiness Project and Happier at Home, and most recently, Better Than Before
● Coss Marte: Ex-drug dealer, ex-convict, and founder of ConBody, a “prison-style” fitness boot camp with a loyal following of 10,000+ clients that employs formerly incarcerated individuals, giving ex-convicts stability and breaking down barriers between them and the general population

ENHANCED INTERCONNECTIVITY
In a move to ensure maximum connectivity and networking, SoFi will provide a digital network to attendees before, during, and after each event.

ONSITE VISUAL INSPIRATION
Over the course of the day, a local artist will incorporate points of inspiration (speaker quotes, participant’s vision statements, quotes via event hashtags and onsite polling) into a large scale mural in real time.

TRANSFORMATIONAL TAKEAWAYS
Participants will walk away with a clear vision statement, attainable roadmap, actionable 30-day plan, new supportive connections, a platform for resources and continued engagement, and ongoing access to SoFi’s network of career advisors.

About SoFi Career Advisory Group
SoFi’s Career Advisory Group is committed to supporting SoFi members both financially and professionally. Our members have invested a ton in building their careers, and our career coaches are here to help them get the most value from it. As a SoFi member, you can work one-on-one with an experienced career coach to map out your next move, create a plan, and identify what success and fulfillment mean for you. For more information, visit SoFi.com/Career-Advisory.

About SoFi
SoFi is a new kind of finance company taking a radical approach to lending, wealth management and insurance. From unprecedented products and tools to faster service and open conversations, we’re all about helping our members get ahead and find success. Whether they’re looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result. For more information, visit SoFi.com.

Contact
Danika Owsley
Director of Consumer Communications
[email protected]

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