Trying to decide between Sallie Mae and SoFi for your student loan?
SoFi is generally the better choice for graduate students and borrowers who want modern features and perks. Sallie Mae is better for borrowers who need flexible eligibility, career training loans, or a faster cosigner release.
Both lenders offer private student loans, but they serve different needs. Here’s how Sallie Mae vs. SoFi compare, and how SoFi vs. Sallie Mae stack up depending on your needs.
fixed rates (apr)
4.13% – 17.99%
4.13% – 17.99%*
variable rates (apr)
4.13% – 17.99%
4.13% – 17.99%*
terms (yrs.)
10 – 15
5, 7, 10, or 15
funding amounts
$1K – total costs
$1K – total costs
min. credit score
Mid-600s
Not disclosed
best for
Fast Cosigner Release
Graduate Students
Sallie Mae vs. SoFi: Quick verdict
| If you… | Choose |
|---|---|
| Want the fastest path to remove a cosigner | View Rates |
| Are a graduate or professional student | View Rates |
| Need loans for career training or nontraditional programs | View Rates |
| Prefer built-in perks and financial tools | View Rates |
| Want a more flexible enrollment requirement | View Rates |
| Value a modern, streamlined borrowing experience | View Rates |
About Sallie Mae and SoFi
Sallie Mae and SoFi are two of the most well-known private student loan lenders, but they take different approaches.
Sallie Mae focuses on flexibility and coverage. It offers loans for a wide range of programs, including undergraduate, graduate, career training, and professional certification paths.
SoFi takes a more modern, full-service approach. In addition to student loans, it offers banking, investing, and financial planning tools, making it appealing if you want more than just a loan.
What types of student loans do Sallie Mae vs. SoFi offer?
Both lenders offer private student loans for undergraduate and graduate students, making them strong contenders among the best private student loans available today.
Sallie Mae student loans
Sallie Mae offers one of the broadest ranges of loan types, including:
- Undergraduate and graduate loans
- Career training and trade school loans
- Loans for medical, dental, and law programs
- Bar exam and residency relocation loans
It’s one of the few lenders that supports nontraditional education paths, which makes it especially useful if your program doesn’t follow a standard four-year structure.
SoFi student loans
SoFi offers:
- Undergraduate loans
- Graduate and professional loans
- Parent loans
It’s especially strong for graduate students, with a streamlined application experience and a range of built-in features designed to support borrowers beyond school.
However, SoFi does not offer loans for career training programs.
How do Sallie Mae vs. SoFi eligibility requirements differ?
| Criteria | Sallie Mae | SoFi |
|---|---|---|
| Citizenship | U.S. citizen, permanent resident, or cosigner required | U.S. citizen, permanent resident, or DACA recipient |
| Enrollment | Less than half-time allowed | At least half-time required |
| Program types | Career training and degree programs | Degree programs only |
| Cosigner | Often required | Not always required |
Sallie Mae vs. SoFi: Key differences
When comparing SoFi vs. Sallie Mae, the main differences come down to flexibility, borrower experience, and program coverage.
- Loan flexibility: Sallie Mae supports more program types, including career training
- Graduate focus: SoFi is a stronger fit for graduate and professional students
- Cosigner release: Sallie Mae allows release after 12 months (faster than most lenders)
- Borrower experience: SoFi offers a more modern platform with added perks
- Eligibility: Sallie Mae is more flexible; SoFi has stricter requirements
Sallie Mae vs. SoFi student loan reviews
Both lenders receive mixed customer feedback, but SoFi tends to earn higher ratings overall, especially for user experience.
- Sallie Mae reviews often mention customer service challenges and billing frustrations
- SoFi reviews frequently highlight ease of use, responsive support, and a smoother application process
If borrower experience matters to you, SoFi generally has the edge.
Sallie Mae vs. SoFi pros and cons
Here are the biggest drawbacks and advantages to consider.
Sallie Mae pros and cons
Pros
- Fast cosigner release (as little as 12 months)
- Supports career training and part-time students
- Wide range of loan types across multiple education stages
- Flexible in-school repayment options
Cons
- No rate prequalification
- Limited loan customization compared to competitors
- No refinancing option if your financial situation improves
SoFi pros and cons
Pros
- Strong fit for graduate and professional students
- No required fees (origination, prepayment, or late payment)
- Offers financial planning tools and member perks
- Rate check available without affecting your credit
Cons
- Does not offer career training loans
- Requires at least half-time enrollment
- More limited eligibility for nontraditional students
Is Sallie Mae or SoFi better?
SoFi is better for most borrowers, especially graduate students and those who want a smoother, more modern borrowing experience.
Sallie Mae is better if you need flexibility, such as part-time enrollment, career training programs, or a faster path to cosigner release.
When Sallie Mae is the better choice (Best for flexibility and cosigner release)
Sallie Mae may be the right fit if you:
- Want to remove your cosigner as quickly as possible
- Are enrolled in a career training or trade program
- Plan to attend school less than half-time
- Expect to need funding across multiple stages of education
Its shorter path to cosigner release can be especially helpful if you want to reduce financial ties to a parent or guardian sooner.
When SoFi is the better choice (Best for graduate students and perks)
SoFi may be the better option if you:
- Are a graduate or professional student (MBA, law, healthcare, etc.)
- Want a lender with built-in financial tools and perks
- Prefer a streamlined, digital-first experience
- Don’t want to rely on a cosigner (if eligible)
It’s especially appealing if you want your lender to offer more than just funding.
Which lender should you choose?
Choosing between Sallie Mae and SoFi comes down to your priorities.
- Choose Sallie Mae if flexibility, program coverage, or cosigner release is most important
- Choose SoFi if you want a more modern experience, added features, and strong support for graduate-level borrowing
FAQ
Is SoFi or Sallie Mae better for student loans overall?
SoFi is better for most borrowers, especially graduate students and those who want a modern borrowing experience. Sallie Mae is better if you need flexible eligibility, career training loans, or a faster cosigner release.
Which lender is better for graduate students?
SoFi is generally the better choice for graduate students because it offers strong support for advanced degree programs, flexible repayment options, and additional borrower benefits.
Related reviews
Want a deeper dive into each lender?
- See our full Sallie Mae student loan review
- See our full SoFi student loan review
Compare private student loans.
How we rated Sallie Mae and SoFi
We designed LendEDU’s editorial rating system to help readers find companies that offer the best student loans. Our system awards higher ratings to companies with affordable solutions and positive customer reviews.
We included SoFi and Sallie Mae in our most recent evaluation of student loan lenders, which included hundreds of data points from company websites, online applications, public disclosures, customer reviews, and direct communication with company representatives. Our take on each company is represented in our ratings and best-for designations recapped below.
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About our contributors
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Written by Melody Stampley, CEPF®Melody Stampley is a personal finance writer and Certified Educator in Personal Finance® with 10-plus years of combined experience in writing, editing, and finance. She specializes in credit, loans, budgeting, saving, and insurance. Melody is a mother who enjoys helping others become free and empowered to show younger generations good stewardship practices.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their pack of senior rescue dogs. She has edited and written personal finance content since 2015.