SoFi Private Student Loans Review 2025: Excellent for Grad Degrees, Plus All Options and Refinancing Explained

Best Student Loans for Graduate Students

4.7 _/5

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Our take: SoFi offers some of the best private student loans available, particularly for graduate students—and especially as Grad PLUS loans are being eliminated. We’ve also named SoFi the best student loan refinance company this year.

Private Student Loans

• Rewards for good grades
• Low starting APRs
• Flexible repayment options
• Wide range of grad school loan options
• Short cosigner release period available

• Lowest rate only available with autopay and multiple loans
• Max repayment term capped at 15 years

Rates (APR)	3.43% – 16.73% (depending on loan type, with all discounts)
Loan amounts	$1,000 up to the total cost of education
Repayment terms	5, 7, 10, or 15 years

Refinance Student Loans

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• Low starting APRs
• Flexible repayment options
• Available for wide range of student debt types
• No fees required

• No cosigner release
• Minimum borrowing amount of $5,000
• Lowest rate only available with autopay and multiple loans

Rates (APR)	4.99% – 9.99% (depending on loan type, with all discounts)
Loan amounts	$5,000 up to the total student loan balance
Repayment terms	5, 7, 10, 15, or 20 years

Table of Contents

1. SoFi private student loans
   1. Undergraduate loans
   2. Graduate loans
   3. Law school loans
   4. MBA loans
   5. Health professions loans
   6. Parent loans
   7. International loans
2. SoFi student loan refinancing
   1. Student loan refinancing
   2. Medical professional refinancing
   3. Medical resident refinancing
   4. Parent PLUS refinancing
   5. Law school refinancing
   6. MBA refinancing
   7. SmartStart refinancing
3. SoFi eligibility
4. SoFi student loans customer reviews
5. Alternatives to SoFi private student loans
   1. SoFi vs. College Ave
   2. SoFi vs. Sallie Mae
6. Alternatives to SoFi student loan refinancing
   1. SoFi vs. ELFI
   2. SoFi vs. Earnest
7. How to apply for a SoFi student loan or refinance

SoFi private student loans

Undergraduate loans

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What to know

Undergraduate students can apply fee-free for a SoFi student loan in minutes, and students who maintain a 3.0 GPA or higher get a cash bonus to a SoFi bank account of up to $250.

• No origination fees or late fees
• Cosigner release available after 12 months
• Four repayment methods (deferred, interest only, partial, and immediate)
• Low starting APRs
• Cash bonus for good grades
• Rewards bonuses available to help pay down loan

• Lowest rate only available with autopay and multiple loans
• Cash bonus only available with SoFi bank account
• Max repayment term capped at 15 years
• Not available for career training

Variable rates (APR)	4.64% – 15.99% with all discounts
Fixed rates (APR)	3.43% – 15.99% with all discounts
Loan amounts	$1,000 up to the total cost of education
Repayment terms	5, 7, 10, or 15 years
Cosigner release	Available after 12 on-time payments

Graduate loans

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What to know

SoFi boasts rates that are potentially lower than federal Grad PLUS loans (soon to be discontinued), and 3.0+ GPA students can unlock the same $250 bonus.

• Cosigner release available after 12 months
• No fees required
• Four repayment methods (deferred, interest only, partial, and immediate)
• Low starting APRs
• Available for grad-level certificate programs
• Cash bonus for good grades
• Rewards bonuses available to help pay down loan
• A helpful option as Grad PLUS loans are eliminated

• Lowest rate only available with autopay and multiple loans
• Cash bonus only available with SoFi bank account
• Max repayment term capped at 15 years

Variable rates (APR)	4.64% – 15.86% with all discounts
Fixed rates (APR)	3.43% – 14.83% with all discounts
Loan amounts	$1,000 up to the total cost of education
Repayment terms	5, 7, 10, or 15 years
Cosigner release	Available after 12 on-time payments

Law school loans

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What to know

• Cosigner release available after 12 months
• No fees required
• Four repayment methods (deferred, interest only, partial, and immediate)
• Low starting APRs
• Cash bonus for good grades
• Rewards bonuses available to help pay down loan
• Job offer letter can serve as proof of income

• Lowest rate only available with autopay and multiple loans
• Cash bonus only available with SoFi bank account
• Max repayment term capped at 15 years
• Some law schools may not be eligible (SoFi claims “most” public and private schools are, but not all)

Variable rates (APR)	4.64% – 15.86% with all discounts
Fixed rates (APR)	3.43% – 14.83% with all discounts
Loan amounts	$1,000 up to the total cost of education
Repayment terms	5, 7, 10, or 15 years
Cosigner release	Available after 12 on-time payments

MBA loans

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What to know

• Cosigner release available after 12 months
• No fees required
• Four repayment methods (deferred, interest only, partial, and immediate)
• Low starting APRs
• Cash bonus for good grades
• Rewards bonuses available to help pay down loan
• Job offer letter can serve as proof of income

• Lowest rate only available with autopay and multiple loans
• Cash bonus only available with SoFi bank account
• Max repayment term capped at 15 years
• Some MBA programs may not be eligible (SoFi claims “most” public and private schools are, but not all)

Variable rates (APR)	4.64% – 15.86% with all discounts
Fixed rates (APR)	3.43% – 14.83% with all discounts
Loan amounts	$1,000 up to the total cost of education
Repayment terms	5, 7, 10, or 15 years
Cosigner release	Available after 12 on-time payments

Health professions loans

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What to know

• Longer (9-month) grace period
• Cosigner release available after 12 months
• No fees required
• Four repayment methods (deferred, interest only, partial, and immediate)
• Low starting APRs
• Cash bonus for good grades
• Rewards bonuses available to help pay down loan

• Lowest rate only available with autopay and multiple loans
• Cash bonus only available with SoFi bank account
• Cash bonus only available with SoFi bank account
• Max repayment term capped at 15 years
• Some med schools may not be eligible (SoFi claims “most” public and private schools are, but not all)

Variable rates (APR)	4.64% – 15.86% with all discounts
Fixed rates (APR)	3.43% – 14.83% with all discounts
Loan amounts	$1,000 up to the total cost of education
Repayment terms	5, 7, 10, or 15 years
Cosigner release	Available after 12 on-time payments

Parent loans

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What to know

Unlike cosigning SoFi private student loans, SoFi’s parent loans make the debt solely the responsibility of the parent. Parents who can afford this option can save their kids a lot of post-graduation debt.

• Reduce child’s debt load, with no impact to child’s credit
• A helpful option as Parent PLUS loans are more limited
• No fees required
• Rewards bonuses available to help pay down loan

• Lowest rate only available with autopay and multiple loans
• Only two repayment methods (interest only and full immediate)
• Cash bonus only available with SoFi bank account
• Max repayment term capped at 15 years

Variable rates (APR)	5.95% – 16.73% with all discounts
Fixed rates (APR)	4.12% – 16.73% with all discounts
Loan amounts	$1,000 up to the total cost of education
Repayment terms	5, 7, 10, or 15 years
Cosigner release	N/A

International loans

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What to know

International students can get the same loan rates as U.S. students, but they’ll need a Social Security Number or Individual Tax Identification Number, plus a physical U.S. address and proper immigration documentation.

• Cosigners not required (though highly beneficial)
• No fees required
• Low starting APRs
• Cash bonus for good grades

• Not for U.S. students studying abroad
• Fewer details publicly available
• Lowest rate only available with autopay and multiple loans
• Cash bonus only available with SoFi bank account

Variable rates (APR)	4.64% – 15.86% with all discounts
Fixed rates (APR)	3.54% – 14.83% with all discounts
Loan amounts	$1,000 up to the total cost of education
Repayment terms	Not disclosed (SoFi promises “flexible repayment options”)
Cosigner release	Not disclosed

SoFi student loan refinancing

Student loan refinancing

Best Direct Refinancing Lender

4.9 _/5

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What to know

SoFi is our top choice for student loan refinancing because of the low rates and high borrowing amount (up to the full balance of qualified loans).

• No fees required
• Low starting APRs
• Flexible repayment terms
• Rewards bonuses available to help pay down loan

• Cosigner release not available
• Minimum borrowing amount of $5,000
• Lowest rate only available with autopay and multiple loans

Variable rates (APR)	5.99%% – 9.99%% with all discounts
Fixed rates (APR)	4.99% – 9.99% with all discounts (varies depending on repayment term length)
Loan amounts	$5,000 up to the total student loan balance
Repayment terms	5, 7, 10, 15, or 20 years
Cosigner release	N/A

Medical professional refinancing

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What to know

• Low starting APRs
• Flexible repayment terms
• Available for current residents and fellows (more in next section)
• No fees required
• Dedicated student loan specialist
• Available to doctors, dentists, residents, and nurses
• $1,000 referral bonus

• Cosigner release not available
• Minimum borrowing amount of $5,000
• Lowest rate only available with autopay and multiple loans

Variable rates (APR)	5.87% – 9.99% with all discounts
Fixed rates (APR)	4.87% – 9.99% with all discounts
Loan amounts	$5,000 up to the total student loan balance
Repayment terms	5, 7, 10, 15, or 20 years
Cosigner release	N/A

Medical resident refinancing

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What to know

• Only $100/month minimum payment during residency, for up to seven years
• Flexible repayment terms
• No fees required
• Dedicated student loan specialist
• $1,000 referral bonus

• Higher starting APY for residents and fellows
• Cosigner release not available
• Minimum borrowing amount of $5,000
• Lowest rate only available with autopay and multiple loans

Variable rates (APR)	6.14% – 9.84% with all discounts
Fixed rates (APR)	6.14% – 9.84% with all discounts
Loan amounts	$5,000 up to the total student loan balance
Repayment terms	5, 7, 10, 15, or 20 years
Cosigner release	N/A

Parent PLUS refinancing

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What to know

• No fees required
• Low starting APRs
• Ability to refinance in student’s name

• 20-year repayment term not available
• Minimum borrowing amount of $5,000
• Lowest rate only available with autopay and multiple loans

Variable rates (APR)	5.99% – 9.99% with all discounts
Fixed rates (APR)	4.99% – 9.99% with all discounts
Loan amounts	$5,000 up to the total student loan balance
Repayment terms	5, 7, 10, or 15 years
Cosigner release	N/A

Law school refinancing

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• Flexible repayment terms
• No fees required
• Low starting APRs

• Cosigner release not available
• Minimum borrowing amount of $5,000
• Lowest rate only available with autopay and multiple loans
• Can’t refinance while still in law school

Variable rates (APR)	5.99% – 9.99%
Fixed rates (APR)	4.74% – 9.99%
Loan amounts	$5,000 up to the total student loan balance
Repayment terms	5, 7, 10, 15, or 20 years
Cosigner release	N/A

MBA refinancing

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What to know

1-2 sentences, pros/cons,

• Flexible repayment terms
• No fees required
• Low starting APRs

• Cosigner release not available
• Minimum borrowing amount of $5,000
• Lowest rate only available with autopay and multiple loans
• Can’t refinance while still in MBA program

Variable rates (APR)	5.99% – 9.99%
Fixed rates (APR)	4.74% – 9.99%
Loan amounts	$5,000 up to the total student loan balance
Repayment terms	5, 7, 10, 15, or 20 years
Cosigner release	N/A

SmartStart refinancing

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What to know

• First nine months of repayment are interest-only, principal-free payments
• Ability to establish savings as you start your career

• More debt in the long run
• Not available for five-year repayment terms
• Not available for medical or dental residency refinance loans

Variable rates (APR)	5.87% – 9.99% with all discounts (varies depending on type of refinance)
Fixed rates (APR)	4.74% – 9.99% with all discounts (varies depending on type of refinance)
Loan amounts	$5,000 up to the total student loan balance
Repayment terms	7, 10, 15, or 20 years
Cosigner release	N/A

SoFi eligibility

SoFi’s requirements vary slightly between new private student loans and refinancing, but both lean toward borrowers with strong credit or a creditworthy cosigner.

Requirement	Private student loans	Student loan refinancing
Credit score	679	Good to excellent credit required, often 650+ for competitive rates.
Cosigner option	Allowed, and often required for undergraduates. Cosigner release after 12 on-time payments.	Allowed, but no cosigner release offered.
Income and employment	Student income not always required if cosigner qualifies.	Must show stable income or employment offer; SoFi reviews debt-to-income ratio.
Enrollment status	At least half-time enrollment at an eligible Title IV school. Graduate and professional programs eligible.	Need to have graduated with associate’s or higher.
Citizenship	U.S. citizen or permanent resident only.	U.S. citizen or permanent resident only.

SoFi student loans customer reviews

Though SoFi is not accredited with the Better Business Bureau (BBB), the lender carries an A+ rating across all its personal finance products. SoFi also has a 4.2 out of 5 rating with Trustpilot, based on roughly 10,000 customer reviews.

To hear what other borrowers think about SoFi student loans and student loan refinancing, check out these Reddit threads.

How is SoFi as a loan servicer?
byu/KnopeKnopeWellMaybe inStudentLoans

Is SoFi really the best way to manage my student loan debt? Looking for real experiences
byu/Familiar-Soft7060 insofi

Refinancing? Beware of Sofi
byu/hymom inStudentLoans

Though SoFi is not accredited with the Better Business Bureau, the lender carries an A+ rating across all its personal finance products. SoFi also has a 4.2 out of 5 rating with Trustpilot, based on roughly 10,000 customer reviews.

Borrower feedback on forums like Reddit offers a more mixed picture. Some customers highlight SoFi’s streamlined application process, competitive rates, and strong online tools for managing loans, noting that the platform makes refinancing feel simple and convenient.

Others caution that servicing quality can vary. Several posts mention frustrations with customer support, billing errors, and limited flexibility when issues arise, which can sour the experience.

Overall, customer sentiment suggests that SoFi works well for borrowers who prioritize speed and technology, but those who value hands-on, consistent support may want to weigh the potential trade-offs.

Alternatives to SoFi private student loans

Private student loans should generally be your last resort after scholarships, grants, federal loans, and personal funds. If you’re comparing SoFi to other top lenders, here’s how it stacks up.

SoFi vs. College Ave

SoFi offers no origination fees, flexible in-school repayment (full, interest-only, $25 fixed, or deferred), and perks like career coaching. Its streamlined digital experience makes applying and managing loans easy. One drawback: SoFi doesn’t offer cosigner release.

College Ave is also fee-free and shines with flexibility. You can choose repayment terms from 5 to 20 years and pick how you want to pay while in school. The application process is fast and user-friendly, though most borrowers will need a cosigner, and cosigner release only comes halfway through repayment.

• Choose SoFi if you want a polished borrower experience and perks beyond lending.
• Choose College Ave if repayment flexibility and quick approvals are your top priorities.

SoFi vs. Sallie Mae

SoFi stands out for its modern interface and relatively smooth servicing. Its range of loan options is solid but narrower compared to Sallie Mae.

Sallie Mae, one of the biggest names in private lending, covers nearly every loan type: undergrad, grad, medical, dental, and even career training. It allows cosigner release after 12 months of on-time payments. However, Sallie Mae has a mixed customer service reputation, with some borrowers reporting billing and communication issues.

• Choose SoFi if you want simplicity and a more positive borrower experience.
• Choose Sallie Mae if you need a wider menu of loan programs or want faster access to cosigner release.

Alternatives to SoFi student loan refinancing

Refinancing can help lower your rate or simplify repayment, but you’ll lose federal benefits like forgiveness or income-driven repayment. Here’s how SoFi compares to top refinance lenders.

SoFi vs. ELFI

SoFi is known for competitive rates, multiple term options (5 to 20 years), and extras like career resources and member events. It offers temporary forbearance for hardship but doesn’t allow cosigner release.

ELFI also offers strong rates and no fees, but it differentiates itself with dedicated loan advisors assigned to each borrower. That personal touch helps guide borrowers through the refinance process. The downside: no cosigner release here either.

• Choose SoFi if you want a fast, largely digital process with perks included.
• Choose ELFI if you’d like hands-on, personalized guidance with your refinance.

SoFi vs. Earnest

SoFi appeals to borrowers seeking a straightforward experience, long repayment terms, and additional financial tools. It’s designed for convenience and scale.

Earnest is highly flexible, letting you customize your repayment term down to the month and set a payment that fits your budget. It also gets strong reviews for customer service. The trade-off is that Earnest’s underwriting may be stricter, which could limit approval for some borrowers.

• Choose SoFi if you want convenience, long terms, and bundled perks.
• Choose Earnest if you want repayment flexibility and stronger customer support.if you think you’ll be eligible for student loan forgiveness.

How to apply for a SoFi student loan or refinance

Applying with SoFi is entirely online and designed to be fast, but it helps to know what to expect before you begin. The process looks slightly different depending on whether you’re taking out a new private student loan or refinancing existing debt.

1. Prequalify online

• Private student loans: You’ll enter basic information about yourself, your school, your program, and your cosigner (if you have one). SoFi will show estimated rates if you qualify.
• Refinancing: You’ll provide your income, current loan balances, and credit details. SoFi does a soft credit check at this stage, so your score won’t be impacted just for checking.

2. Compare your options

SoFi will show you multiple repayment term lengths and rate types (fixed or variable). You can weigh the trade-offs between a lower monthly payment vs. paying your debt off faster.

3. Complete the application

• Upload documents like proof of income (pay stubs or an offer letter), identification, and school enrollment verification.
• If you have a cosigner, they’ll also need to fill out their part of the application and provide supporting documents.

4. Certification (for private student loans)

SoFi will contact your school to certify your enrollment and the cost of attendance. This step ensures you’re not borrowing more than you need.

5. Final approval and loan funding

• Private student loans: Once certified, the funds are sent directly to your school. Any leftover funds will be released to you.
• Refinancing: Once approved, SoFi pays off your old loans and replaces them with your new refinanced loan. You’ll then make a single payment to SoFi going forward.