STUDENT DEBT GUIDE

Life after debt—
right this way.

Welcome to our most comprehensive guide to the
student loan landscape yet. Get to know your student
debt options so you can head in the right direction
toward your other goals in life.*

Explore the guide

1NOTICE: If you are a federal student loan borrower you should take time now to prepare for your payments to restart, including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Here are the facts.

There’s a lot to know before you can make an informed decision on how to approach your student loan debt. Let’s start with the current student loan landscape.

  • Student loan payments resuming

    Student loan payments resuming

    Student loan payments resuming:

    • Upcoming Dates for Student Loan Payments
    After more than three years, federal student loan payments are restarting. Here are the important dates you need to know. Read more.

    • Quiz: Which Student Loan Repayment Plan Should You Choose?
    You can take this quiz to get a better understanding of each option and see example scenarios that could be similar to yours. Read more.

    • 4 Student Loan Repayment Options—and How to Choose the Right One for You
    Here’s an overview of repayment options that may help if you are choosing a repayment plan. Read more.

  • Student loan forgiveness:

    Student loan forgiveness

    Student loan forgiveness:

    • Supreme Court Blocks Student Loan Forgiveness, Biden Vows More Action
    Biden’s one-time forgiveness plan—which would have erased up to $20,000 in federal student debt for qualified borrowers—was struck down by the Supreme Court. Biden has promised to continue to fight for student debt relief. Read more.

    • Student Loan Forgiveness 101
    Despite the Supreme Court’s decision on Biden’s student loan forgiveness plan, there are still various student debt forgiveness programs for select career paths, like the Public Service Loan Forgiveness plan for educators, non-profit, and military workers, and types of loans like the Perkins Loan. See if you qualify. Read more.

  • Interest rates and inflation:

    Interest rates and inflation

    Interest rates and inflation:

    • Why Are Student Loan Rates So High?
    Over the past three years, undergraduate loan rates have doubled, and other student loan rates have risen similarly. Read more.

    • 3 Factors That Affect Student Loan Interest Rates
    Student loan rates change on a regular basis and are determined by different factors. Read more.

    • How Rising Inflation Affects Student Loan Interest Rates
    For people with variable-rate student loans, or any kind of debt, it could pay to watch inflation. Read more.

    • Federal Reserve Interest Rates, Explained
    There’s a connection between the Fed’s interest rate decisions, the national economy, and your personal finances. Read more.

The refi route.

Refinancing some or all of your student loans could work in your favor—but there could also be some downsides, like losing the benefits of a federal loan. Here are more articles for those considering refinancing now that the student loan pause is ending:

You could refi three different ways.

Unsure which route to take? Explore your three options to pay back student loans.

Refinance

Choose between saving on your monthly payment or saving on total student loan interest and we’ll set you up with new terms that fit your goals.

Learn more

Partial refi

Refinancing even some of your loans could mean more favorable rates and terms—and more convenience. Start with viewing your rate to see how a partial refi could save you money.

View your rate

Don’t refi for now

Federal benefits like deferment and forbearance are pretty great too. Keep in mind that you can always make changes to your student loan payoff plan in the future.

Let the numbers lead the way.

When it comes to student loans, you’re playing a numbers game. Use our calculators to run the numbers based on your current terms.

  • Student loan payment calculator

    We’ll estimate your monthly payments, so
    you see how they fit your current budget.

    Calculate

  • Student loan payoff calculator

    Calculate the month and year that your
    student loan will be paid off.

    Calculate

Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.

Take a walk through our webinars.

Consider this your rest stop on the path to the other side of debt. Watch our team break it all down for you.


  • Everything You Need to Know About Repaying Your Student Loans.

    Watch now


  • Student Loan Payments are Coming Back—Here’s How to Make it Easier.

    Register now


  • Everything You Need to Know About Repaying Your Medical and Dental School Loans.

    Register now

Budget for all of life’s milestones ahead.


  • Budget Tracking

    SoFi Insights tracks all of your money, all in one place. Once you activate credit score monitoring, it’s really easy to add and track your student loan debt, along with any other loans you have.

    SoFi Insights tracks all of your money, all in one place. Once you activate credit score monitoring, it’s really easy to add and track your student loan debt, along with any other loans you have.

    Get started →


  • Budget Tools

    Once you’ve figured out your student loan repayment plan, let’s figure out how to reach your other life goals like buying a house, traveling through Europe, or whatever. With these budgeting tools, it could all be within reach.

    Once you’ve figured out your student loan repayment plan, let’s figure out how to reach your other life goals like buying a house, traveling through Europe, or whatever. With these budgeting tools, it could all be within reach.

    Explore tools →

Still have questions? Our team can help you find your way.

  • SoFi Student Loan Specialist

    They could help you manage the complexities of debt, identify ways to help you increase your cash flow, and manage your payments—plus much more. Call 888-594-2936 or schedule a call below.

    Schedule now

  • Financial Planning

    Our financial planners provide advice based on your
    unique needs and financial goals, including paying back
    student loans—and beyond.

    Schedule now

*NOTICE: If you are a federal student loan borrower you should take time now to prepare for your payments to restart, including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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 other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. 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 may be subject to other restrictions. You may pay more interest over the life of the loan if you refinance with an extended term. Minimum loan amount of $5,000 unless required to be higher to comply with applicable law. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

Advisory services are offered through SoFi Wealth LLC an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. 234 1st Street San Francisco, CA 94105 ©2023 Social Finance, Inc. All rights reserved.

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