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ⓘ
- Competitive starting APRs
- Flexible repayment options
- Wide range of grad school loan options
- Short cosigner release period availableⓘ
- Lowest rate only available by utilizing all available discounts
| Fixed Rates (APR) | Available rates vary by degree type |
| Variable Rates (APR) | Available rates vary by degree type |
| Loan amounts | $1,000 up to the total cost of education |
| Repayment terms | 5, 7, 10, or 15 years |
Refinance Student Loans
- Competitive starting APRs
- Flexible repayment options
- Available for wide range of student debt types
- No origination, prepayment, or late payment fees
- No cosigner release
- Minimum borrowing amount of $5,000
- Lowest rate only available by utilizing all available discounts
| Fixed Rates (APR) | 4.49% – 9.99% with all discounts |
| Variable Rates (APR) | 5.99% – 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 |
SoFi private student loans
Undergraduate loans
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.ⓘ
- No origination fees, prepayment fees, or late fees
- Cosigner release available after 12 consecutive months of on-time paymentsⓘ
- Four repayment methods (deferred, interest only, immediate, and more)
- Low starting APRs
- Cash bonus for good gradesⓘ
- Rewards bonuses available to help pay down loan
- Lowest rate only available with discounts
- Cash bonus only available with SoFi bank account
- Not available for career training
| Fixed rates (APR) | 3.43% – 15.99% with autopay |
| Variable rates (APR) | 4.64% – 15.99% with autopay |
| Loan amounts | $1,000 up to the total cost of education |
| Repayment terms | 5, 7, 10, or 15 years |
| Cosigner release | Available after 12 consecutive on-time paymentsⓘ |
Graduate loans
What to know
SoFi boasts rates that are potentially lower than federal Grad PLUS loans (soon to be fully discontinued; currently only available to those who previously took out Grad PLUS loans), and 3.0+ GPA students can unlock the same $250 bonus.
- Cosigner release available after 12 consecutive months of on-time paymentsⓘ
- No origination, prepayment, or late payment fees
- Flexible repayment options (deferred, interest only, immediate, and more)
- 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 discounts
- Cash bonus only available with SoFi bank account
| Fixed rates (APR) | Available rates vary by degree/program type |
| Variable rates (APR) | Available rates vary by degree/program type |
| Loan amounts | $1,000 up to the total cost of education |
| Repayment terms | 5, 7, 10, or 15 years |
| Cosigner release | Available after 12 consecutive on-time paymentsⓘ |
Health professions loans
What to know
- Longer (9-month) grace period
- Cosigner release available after 12 consecutive months of on-time paymentsⓘ
- No origination, prepayment, or late payment fees
- Flexible repayment options (deferred, interest only, immediate, and more)
- Low starting APRs
- Cash bonus for good gradesⓘ
- Rewards bonuses available to help pay down loan
- Lowest rate only available with discounts
- Cash bonus only available with SoFi bank account
- Some med schools may not be eligible (SoFi claims “most” public and private schools are, but not all)
Parent loans
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 origination, prepayment, or late payment fees
- 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
| Fixed rates (APR) | 4.12% – 16.73% with autopay |
| Variable rates (APR) | 5.95% – 16.73% with autopay |
| Loan amounts | $1,000 up to 100% of school certified costs |
| Repayment terms | 5, 7, 10, or 15 years |
| Cosigner release | N/A |
International loans
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 origination, prepayment, or late payment fees
- 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
SoFi student loan refinancing
Student loan refinancing
What to know
SoFi is our top choice for student loan refinancing because of the competitive rates and high borrowing amount (up to the full balance of qualified loans).
- No origination, prepayment, or late payment fees
- Low starting APRs
- Flexible repayment terms
- Rewards bonuses available to help pay down loan
- Cosigner release not available
- Minimum borrowing amount of $5,000 for most loans
- Lowest rate only available with discounts
| Fixed rates (APR) | 4.99% – 9.99% with all discounts |
| Variable rates (APR) | 5.99% – 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 professional refinancing
What to know
- Competitive starting APRs
- Flexible repayment terms
- Available for current residents and fellows (more in next section)
- No origination, prepayment, or late payment fees
- Dedicated student loan specialist
- Available to doctors, dentists, residents, and nurses
- Cosigner release not available
- Minimum borrowing amount of $5,000
- Lowest rate only available with discounts
Parent PLUS refinancing
What to know
- No origination, prepayment, or late payment fees
- Competitve starting APRs
- Ability to refinance in student’s name
- 20-year repayment term not available for Parent Plus refinancing
- Minimum borrowing amount of $5,000
- Lowest rate only available with autopay and multiple loans
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 | Not disclosed | Not disclosed |
| Cosigner option | Allowed, and often required for undergraduates. Cosigner release after 12 consecutive 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.
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.
College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, Thrivent Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC.
- All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
- As certified by your school and less any other financial aid you might receive. Minimum $1,000.
- This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 10/15/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, Thrivent Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC.
- All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
- As certified by your school and less any other financial aid you might receive. Minimum $1,000.
- This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 10/15/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
College Ave’s student loan products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, Thrivent Bank, member FDIC, or BTG Pactual Bank, N.A., member FDIC.
- All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
- As certified by your school and less any other financial aid you might receive. Minimum $1,000.
- This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 10/15/2026. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of full principal and interest payments with the shortest available loan term.
Information advertised valid as of 08/25/2026
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.
1. Loan application must be submitted to see available rates.
2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.
4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered.
7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae loans are made by Sallie Mae Bank.
Information advertised valid as of 08/25/2026
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.
1. Loan application must be submitted to see available rates.
2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.
4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered.
7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae loans are made by Sallie Mae Bank.
Information advertised valid as of 08/25/2026
Borrow responsibly
We encourage students and families to start with savings, grants, scholarships, and federal student loans to pay for college. Evaluate all anticipated monthly loan payments, and how much the student expects to earn in the future, before considering a private student loan.
Loans for Undergraduate & Career Training Students are not intended for graduate students and are subject to credit approval, identity verification, signed loan documents, and school certification. Student must attend a participating school. Student or cosigner must meet the age of majority in their state of residence. Students who are not U.S. citizens or U.S. permanent residents must reside in the U.S., attend school in the U.S., and apply with a creditworthy cosigner (who must be a U.S. citizen or U.S. permanent resident). Requested loan amount must be at least $1,000.
1. Loan application must be submitted to see available rates.
2. Although we do not charge you a penalty or fee if you prepay your loan, any prepayment will be applied as provided in your promissory note — first to Unpaid Fees and costs, then to Unpaid Interest, and then to Current Principal.
3. Based on a comparison of the percentage of students who were approved with a cosigner to the percentage of students who were approved without a cosigner from October 1, 2023 to September 30, 2024.
4. The borrower or cosigner must enroll in auto debit through Sallie Mae to receive a 0.25 percentage point interest rate reduction benefit. This benefit applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
5. Advertised APRs for undergraduate students assume a $10,000 loan with a 4-year in-school period, a 6-month grace, and the longest loan term offered. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment.
6. Savings comparison assumes a freshman student receives a $10,000 Smart Option Student Loan with the most common variable rate as of January 2025 and the longest loan term offered.
7. Examples of typical transactions for a $10,000 Smart Option Student Loan with the most common fixed rate, Fixed Repayment Option, two disbursements, a 4-year in-school period, and a 6-month grace: For a borrower with the shortest loan term, it works out to 16.16% fixed APR, 51 payments of $25.00, 119 payments of $296.32 and one payment of $41.82, for a total loan cost of $36,578.90. For a borrower with the longest loan term, it works out to 16.38% fixed APR, 51 payments of $25.00, 177 payments of $265.54 and one payment of $173.00, for a total loan cost of $48,448.58. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
SALLIE MAE RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS, SERVICES, AND BENEFITS AT ANY TIME WITHOUT NOTICE. CHECK SALLIEMAE.COM FOR THE MOST UP-TO-DATE PRODUCT INFORMATION.
Sallie Mae loans are made by Sallie Mae Bank.
SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.
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 loansare subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, thestudent’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. Not all repayment options may be available for all loans. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. View payment examples. 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 03/04/2026 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).
Good Grades Reward: If eligible, you may receive one cash reward to a SoFi Checking and Savings account. The cash reward offered is $100 for single-semester loans and $250 for full-year loans. Additional terms and conditions apply, see https://www.sofi.com/private-student-loans/rewards-for-good-grades/ for details.
SoFi Cosigner Release Disclosure: SoFi does not offer a cosigner release program for In-School Student Loans disbursed prior to May 1, 2019. For In-School Student Loans disbursed on or after May 1, 2019 the borrower may apply for cosigner release after making 12 consecutive on-time full principal and interest payments or the equivalent thereof through a lump sum payment or payments, unless fewer payments are required in accordance with applicable law. Borrowers still must pass an underwriting review and meet all other requirements. Requirements subject to change.
0.125% Continuing Scholar Discount: Terms and conditions apply. Offer good for private student loan customers who have previously borrowed a private student loan from SoFi and are taking out a subsequent loan only, select a term and repayment type that is eligible for the discount, and is subject to lender approval. To receive the offer, you must: (1) complete a loan application with SoFi; and (2) meet SoFi’s underwriting criteria. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.125% rate discount because you have borrowed a private student loan from SoFi in the past. Offer good for existing private student loan borrowers only. Offer cannot be combined with other rate discounts, with the exception of the 0.25% autopay rate discount. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice.
SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.
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 loansare subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, thestudent’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. Not all repayment options may be available for all loans. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. View payment examples. 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 03/04/2026 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).
Good Grades Reward: If eligible, you may receive one cash reward to a SoFi Checking and Savings account. The cash reward offered is $100 for single-semester loans and $250 for full-year loans. Additional terms and conditions apply, see https://www.sofi.com/private-student-loans/rewards-for-good-grades/ for details.
SoFi Cosigner Release Disclosure: SoFi does not offer a cosigner release program for In-School Student Loans disbursed prior to May 1, 2019. For In-School Student Loans disbursed on or after May 1, 2019 the borrower may apply for cosigner release after making 12 consecutive on-time full principal and interest payments or the equivalent thereof through a lump sum payment or payments, unless fewer payments are required in accordance with applicable law. Borrowers still must pass an underwriting review and meet all other requirements. Requirements subject to change.
0.125% Continuing Scholar Discount: Terms and conditions apply. Offer good for private student loan customers who have previously borrowed a private student loan from SoFi and are taking out a subsequent loan only, select a term and repayment type that is eligible for the discount, and is subject to lender approval. To receive the offer, you must: (1) complete a loan application with SoFi; and (2) meet SoFi’s underwriting criteria. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.125% rate discount because you have borrowed a private student loan from SoFi in the past. Offer good for existing private student loan borrowers only. Offer cannot be combined with other rate discounts, with the exception of the 0.25% autopay rate discount. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice.
SoFi Bank, N.A. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.
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 loansare subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, thestudent’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. Not all repayment options may be available for all loans. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. View payment examples. 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 03/04/2026 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org).
Good Grades Reward: If eligible, you may receive one cash reward to a SoFi Checking and Savings account. The cash reward offered is $100 for single-semester loans and $250 for full-year loans. Additional terms and conditions apply, see https://www.sofi.com/private-student-loans/rewards-for-good-grades/ for details.
SoFi Cosigner Release Disclosure: SoFi does not offer a cosigner release program for In-School Student Loans disbursed prior to May 1, 2019. For In-School Student Loans disbursed on or after May 1, 2019 the borrower may apply for cosigner release after making 12 consecutive on-time full principal and interest payments or the equivalent thereof through a lump sum payment or payments, unless fewer payments are required in accordance with applicable law. Borrowers still must pass an underwriting review and meet all other requirements. Requirements subject to change.
0.125% Continuing Scholar Discount: Terms and conditions apply. Offer good for private student loan customers who have previously borrowed a private student loan from SoFi and are taking out a subsequent loan only, select a term and repayment type that is eligible for the discount, and is subject to lender approval. To receive the offer, you must: (1) complete a loan application with SoFi; and (2) meet SoFi’s underwriting criteria. Once conditions are met and the loan has been disbursed, the interest rate shown in the Final Disclosure Statement will include an additional 0.125% rate discount because you have borrowed a private student loan from SoFi in the past. Offer good for existing private student loan borrowers only. Offer cannot be combined with other rate discounts, with the exception of the 0.25% autopay rate discount. SoFi reserves the right to change or terminate the Rate Discount Program to unenrolled participants at any time with or without notice.
- SoFi vs. College Ave: SoFi offers no origination fees, flexible in-school repayment (full, interest-only, or deferred), and member perks. Its streamlined digital experience makes applying and managing loans easy.
- 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 consecutive 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
If you have a private student loan that is in default or about to be in default, there is a lender who specializes in private student loan refinancing for struggling borrowers:
- No application or repayment fees
- Great for borrowers with Poor or Fair credit
- Flexible payment terms
- Refinance without a degree
- 7+ years assisting distressed borrowers improve their credit score
- Checking rates will not impact your credit score
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.
Pricing Disclosure:
Fixed rates range from 4.49% APR to 11.99% APR with 0.25% autopay discount and 0.125% SoFi Plus discount. Variable rates range from 5.74% APR to 11.99% APR with 0.25% autopay discount and 0.125% SoFi Plus discount. Unless required to be lower to comply with applicable law, Variable Interest rates will never exceed 13.95% (the maximum rate for these loans). SoFi rate ranges are current as of 11/4/26 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 you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. 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. You may pay more interest over the life of the loan if you refinance with an extended term.
Autopay Discount:
The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments as outlined in your loan agreement 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. When the autopay interest rate deduction is added or removed, the next time the loan is re-amortized (quarterly for fixed rate loans; monthly for variable rate loans), the principal balance of your loan will be spread over the remaining loan term, and your monthly payment amount will change. This benefit is suspended during periods of deferment, grace period, or forbearance. Autopay is not required to receive a loan from SoFi.
Member Rate Discount:
To be eligible for an additional 0.125% interest rate reduction on a Student Loan Refinancing, you must, within 31 days of loan funding, either (1) be a SoFi Plus subscriber, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet.
Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
Pricing Disclosure:
Fixed rates range from 4.49% APR to 11.99% APR with 0.25% autopay discount and 0.125% SoFi Plus discount. Variable rates range from 5.74% APR to 11.99% APR with 0.25% autopay discount and 0.125% SoFi Plus discount. Unless required to be lower to comply with applicable law, Variable Interest rates will never exceed 13.95% (the maximum rate for these loans). SoFi rate ranges are current as of 11/4/26 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 you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. 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. You may pay more interest over the life of the loan if you refinance with an extended term.
Autopay Discount:
The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments as outlined in your loan agreement 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. When the autopay interest rate deduction is added or removed, the next time the loan is re-amortized (quarterly for fixed rate loans; monthly for variable rate loans), the principal balance of your loan will be spread over the remaining loan term, and your monthly payment amount will change. This benefit is suspended during periods of deferment, grace period, or forbearance. Autopay is not required to receive a loan from SoFi.
Member Rate Discount:
To be eligible for an additional 0.125% interest rate reduction on a Student Loan Refinancing, you must, within 31 days of loan funding, either (1) be a SoFi Plus subscriber, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet.
Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
Pricing Disclosure:
Fixed rates range from 4.49% APR to 11.99% APR with 0.25% autopay discount and 0.125% SoFi Plus discount. Variable rates range from 5.74% APR to 11.99% APR with 0.25% autopay discount and 0.125% SoFi Plus discount. Unless required to be lower to comply with applicable law, Variable Interest rates will never exceed 13.95% (the maximum rate for these loans). SoFi rate ranges are current as of 11/4/26 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 you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. 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. You may pay more interest over the life of the loan if you refinance with an extended term.
Autopay Discount:
The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments as outlined in your loan agreement 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. When the autopay interest rate deduction is added or removed, the next time the loan is re-amortized (quarterly for fixed rate loans; monthly for variable rate loans), the principal balance of your loan will be spread over the remaining loan term, and your monthly payment amount will change. This benefit is suspended during periods of deferment, grace period, or forbearance. Autopay is not required to receive a loan from SoFi.
Member Rate Discount:
To be eligible for an additional 0.125% interest rate reduction on a Student Loan Refinancing, you must, within 31 days of loan funding, either (1) be a SoFi Plus subscriber, (2) receive an Eligible Direct Deposit into a SoFi Checking or Savings account, or (3) receive at least $5,000 in Qualifying Deposits into a SoFi Checking or Savings account. You must continue to meet at least one of the above eligibility criteria every 31 days to maintain the discount. See the SoFi Plus terms for details on SoFi Plus subscription. For more details on Eligible Direct Deposit or Qualifying Deposits, please see https://www.sofi.com/legal/banking-rate-sheet.
Once you become eligible during the initial period, the discount will be removed or reinstated depending on whether the criteria have been met. Each time your loan is re-amortized, your monthly payment amount will change based upon the interest rate that was in place. SoFi reserves the right to modify or terminate this offer at any time for unenrolled participants. You are not required to meet these criteria to be approved for a loan.
Student Loan Refinance
Earnest Loans are made by Earnest Operations LLC. Earnest Operations LLC, NMLS #1204917. 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. California Financing Law License 6054788. Visit www.earnest.com/licenses for a full list of licensed states. For California residents: Loans will be arranged or made pursuant to a California Financing Law License.
Skip a payment disclosure:
Earnest clients may skip a payment through a one, one-month forbearance during a 12 month period. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Interest will not be capitalized on loans originated to Michigan residents under the Regulatory Loan Act of 1963. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
Student Loan Refinance
Earnest Loans are made by Earnest Operations LLC. Earnest Operations LLC, NMLS #1204917. 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. California Financing Law License 6054788. Visit www.earnest.com/licenses for a full list of licensed states. For California residents: Loans will be arranged or made pursuant to a California Financing Law License.
Skip a payment disclosure:
Earnest clients may skip a payment through a one, one-month forbearance during a 12 month period. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Interest will not be capitalized on loans originated to Michigan residents under the Regulatory Loan Act of 1963. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
Student Loan Refinance
Earnest Loans are made by Earnest Operations LLC. Earnest Operations LLC, NMLS #1204917. 300 Frank H. Ogawa Plaza, Suite 340, Oakland 94612. California Financing Law License 6054788. Visit www.earnest.com/licenses for a full list of licensed states. For California residents: Loans will be arranged or made pursuant to a California Financing Law License.
Skip a payment disclosure:
Earnest clients may skip a payment through a one, one-month forbearance during a 12 month period. Your first request to skip a payment can be made once you’ve made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Interest will not be capitalized on loans originated to Michigan residents under the Regulatory Loan Act of 1963. Please be aware that a skipped payment does count toward the forbearance limits. Please note that skipping a payment is not guaranteed and is at Earnest’s discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
- SoFi vs. ELFI: SoFi is known for competitive rates, multiple term options (5 to 20 years), and extras like financial planning resources and member events.
- 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.
- 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 strong customer support.
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.
- 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.
- 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.
- 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.
- 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.
- 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.
SoFi doesn’t charge a fee to prequalify, so there’s no harm in checking your rates to compare against other lenders before committing. It also doesn’t charge application or origination fees.
Article sources
At LendEDU, our writers and editors rely on primary sources, such as government data and websites, industry reports and whitepapers, and interviews with experts and company representatives. We also reference reputable company websites and research from established publishers. This approach allows us to produce content that is accurate, unbiased, and supported by reliable evidence. Read more about our editorial standards.
- SoFi, Private Student Loans
- SoFi, Student Loan Refinancing
About our contributors
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Written by Timothy Moore, CFEI®Timothy Moore is a Certified Financial Education Instructor (CFEI®) who has been featured on USA Today, Forrester, Forbes, Business Insider, SoFi, Chime, and other leading media outlets.
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Edited by Amanda HankelAmanda Hankel is a managing editor at LendEDU. She has more than seven years of experience covering various finance-related topics and has worked for more than 15 years overall in writing, editing, and publishing.