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What are my private student loan options?

SoFi Student Loan Refinancing

SoFi Student Loan RefinanceAre you looking to refinance your federal and private student loans? Learn how refinancing with SoFi can get you access to the savings, convenience, flexibility, and member services you deserve.

Features & Benefits

  • Flexibility:
    • Variable rates start from 2.25% APR to 6.59% APR (with AutoPay).1
    • Fixed rates start from 2.74% APR to 6.94% APR (with AutoPay).1
    • Unemployment protection
  • Convenience: Borrowers consolidate all their loans – federal and private – into one loan with one bill
  • No Fees. No Catch:
    • No origination fee, prepayment penalty, or other hidden fees

Minimum Eligibility Requirements

  • Minimum loan amount of $5,000
  • US citizenship or permanent residence is required
  • Graduated from a SoFi eligible school


1Fixed rates from 2.74% APR to 6.94% APR (with AutoPay). Variable rates from 2.25% APR to 6.59% APR (with AutoPay). Interest rates on variable rate loans are capped at either 8.95% or 9.95% depending on term of loan. See APR examples and terms. Lowest variable rate of 2.25% APR assumes current 1 month LIBOR rate of 0.1% plus 2.40% margin minus 0.25% ACH discount. Not all borrowers receive the lowest rate. If approved for a loan, the fixed or variable interest rate offered will depend on your creditworthiness, and the term of the loan and other factors, and will be within the ranges of rates listed above. For the SoFi variable rate loan, the 1-month LIBOR index will adjust monthly and the loan payment will be re-amortized and may change monthly. APRs for variable rate loans may increase after origination if the LIBOR index increases. See eligibility details. The SoFi 0.25% AutoPay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The discount will not reduce the monthly payment; instead, the interest savings are applied to the principal loan balance, which may help pay the loan down faster. Enrolling in autopay is not required to receive a loan from SoFi. *To check the rates and terms you qualify for, SoFi conducts a soft credit inquiry. Unlike hard credit inquiries, soft credit inquiries (or soft credit pulls) do not impact your credit score. Soft credit inquiries allow SoFi to show you what rates and terms SoFi can offer you up front. After seeing your rates, 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 inquiry. Hard credit inquiries (or hard credit pulls) are required for SoFi to be able to issue you a loan. In addition to requiring your explicit permission, these credit pulls may impact your credit score.Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

How much will my monthly payment be?

Private student loan payments are based on the amount borrowed, the interest rate and the length of the loan term.
What are my private student loan options?