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SoFi is a student loan juggernaut as the leading brand in the industry. Having refinanced more than $5 billion in student loans offering add-on member benefits like job-related support, career coaching, and networking events.
*accurate as of March 8, 2018
All loans are subject to credit review and approval and your rate depends upon credit score, loan amount, loan term, and credit usage and history.
Your repayment terms will depend on your APR and loan term. Loan forbearance up to 12 months in 3-month increments. Loan deferment for borrowers who return to graduate school half- or full-time, serve on active military duty or undergo disability rehabilitation.
Experience. Get a rate estimate from SoFi through the online pre-approval process. This involves a soft credit pull, which won’t affect your credit. If you decide to complete the full application, the lender will do a hard credit pull, which will slightly hurt your credit score.
The SoFi Student Loan Refinance application process is simple:
|Credit Score||Good or Excellent|
|Education||Bachelor’s degree or higher|
SoFi lets you check your rate with a soft credit inquiry (doesn't affect your credit score) to give you an estimate of your rate. You'll have the option of choosing your loan terms. Then, SoFi will do a hard credit inquiry once you decide to complete the full application.
Not available to borrowers in Nevada.
No co-signer release option. If you have a loan with a cosigner, both parties are liable for the loan until it is paid in full. Unless you refinance and qualify on your own.
Loan servicer: MOHELA
Deferment and forbearance. A loan deferment for borrowers who return to graduate school half- or full-time, serve on active military duty or undergo disability rehabilitation. Up to 12 months of forbearance in three-month increments.
Access to career perks. Borrowers with SoFi can meet with the company’s career coaches to get resume feedback, salary negotiation tips, and advice about career transitions.