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What Is SoFi?
Founded in 2011, SoFi has been on a mission to help their members (aka customers) get their money right. With over $73 billion in funded loans, 12.6 million members, and over $34 billion in debt paid off, SoFi is dedicated to helping people achieve financial independence. The company, formally known as Social Finance, Inc., provides a range of services including student loans, personal loans, mortgages, investing, and banking.
SoFi offers loan products with zero fees - including no origination, application, or late fees. They have competitive interest rates and unique benefits. SoFi also provides flexible repayment terms and exclusive discounts. They help students and parents make intelligent financial decisions through a variety of resources and support, and “customer-first” solutions. Some of SoFi’s student loan products include:
- Undergraduate Loans
- Graduate Loans
- Law and MBA Loans
- Parent Loans
- Student Loan Refinancing
Apply for a SoFi Private Student Loan
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- All online, all easy.
- SoFi private student loans cover up to 100% of school-certified costs.
- No fees required.
- Repay your way with flexible repayment options (find the monthly student loan payment and rate that fits your budget).
- Applying with a cosigner may increase your chances of approval and getting a better rate.*
- Over 1 million students have chosen SoFi.
SoFi Private Student Loan
Undergraduate, Graduate, MBA, Law, Health Interest Rates: Eligibility and Important Details. Fixed rates range from 3.18% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 4.39% APR to 15.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 11/11/25 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. 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. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).
Parent
Interest Rates: Eligibility and Important Details. Fixed rates range from 3.87% APR to 16.73% APR with a 0.25% autopay discount. Variable rates range from 5.70% APR – 16.73% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 11/11/25 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. 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. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay is not required to receive a loan from SoFi.
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is current as of 6/9/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).
SoFi Private Student Loans
SoFi Private Student Loans can cover up to 100% of school-certified costs including tuition, room and board, transportation, personal expenses, and supplies. The borrowing minimum is $1,000. There are zero fees for SoFi private student loans and additional discounts are available for SoFi members. SoFi considers its customers members, not just borrowers.
SoFi Undergraduate Student Loans
SoFi helps undergraduates pay for school with competitive private student loans. They provide an all-online application process, zero fees, loans that cover up to full cost of attendance, and competitive interest rates. SoFi encourages bringing a cosigner to improve your chances of loan approval and potentially further lower your interest rate. SoFi also requires students to be enrolled in a degree-seeking program at an eligible school and have an enrollment status of at least half-time. SoFi offers a variety of repayment options including:
Deferred: No payments while in school. This results in the highest cost over the life of the loan.
Interest only: This option will require you to make monthly payments of the accrued interest while you're in school..
Partial: Pay $25 monthly throughout the course of your education.
Immediate: Begin paying full interest and principal payments immediately. This is the lowest cost option.
SoFi Graduate Student Loans
SoFi provides graduate students with a fast and easy way to pay for grad school so you can focus on what matters most: your degree. SoFi provides an online application process, live customer support seven days and week, no fees, and exclusive member benefits including:
- A dedicated SoFi app to learn about and access banking services and member benefits
- Networking events
- Experiences, including member perks at SoFi Stadium
SoFi also gives you a choice between partial payments ($25), interest only payments, immediate repayment or deferred payments while in school. Full repayment typically begins six months after graduation or when enrollment drops below the half-time mark.
SoFi Parent Loans
SoFi offers parents a no fee, competitive rate loan to help pay for their child’s education. They have an online application, competitive rates, and exclusive member benefits. Parents can choose from two repayment options including:
Interest only: Pay only the interest as it accrues while your student is still in school.
Immediate: Begin making principal and interest payments immediately while your student is still in school, reducing overall cost.
SoFi Student Loan Refinance
With over $45 billion+ in refinanced student loans and 534,000+ members, SoFi provides savings thanks to flexible terms and low variable and fixed rates. SoFi also has an all-online application process, no hidden fees, and access to exclusive member benefits. A few of their student loan refinancing products including:
- Student Loan Refinancing
- Medical & Dental Student Refinancing
- Parent PLUS Refinancing
You can also compare other student loan refinance companies that provide competitive products. Your options include refinancing a single loan or multiple loans, including the ability to combine federal and private loans together.
SoFi Cosigner Release
After 24 months of consecutive, on-time payments (of full principal and interest), borrowers may be able to apply for cosigner release. An underwriting review will be required which means you must be able to qualify based on the strength of your own credit worthiness, including proof of income. There could be other conditions which may limit your ability to remove a cosigner, so you will need to consult with the company regarding qualifications.
| Pros | Cons |
|---|---|
| Competitive rates on multiple loan products for degree seeking students, as well as parents. They also offer refinancing. | The lowest advertised rates may not be what you qualify for. |
| Students can refinance their parent's loans in their name. | You must pass credit criteria to qualify. Also, Federal PLUS Loan benefits are sacrificed when a private refinance loan is created. |
| Flexible repayment terms |
How SoFi Gives Back
SoFi contributes to local communities and social causes. The even provide paid volunteer time off to encourage their employees to engage in community service. SoFi's Rising Stars Program (a $2 million initiative) is an example of how SoFi partners with other organizations to help provide grants and financial coaching. The company also periodically holds sweepstakes to help borrowers pay off their debt, including their Down with Debt Holiday Sweepstakes where the grand prize is $100K for credit card payoff.
SoFi Customer Service
SoFi offers extensive customer service in the form of email, phone, and mail-in support. Depending on what you need assistance on you’ll find a variety of available phone numbers for help through their contact page, as well as addresses needed for payments. SoFi has a 4.2 star rating through Trustpilot.
SoFi Headquarters
SoFi headquarters are in San Francisco, California with over 5,000 employees.
