If you have been impacted by COVID-19, we are standing by to help address any concerns you may have about being able to meet your payments. As you evaluate your options, it’s important to weigh the benefits of short-term relief vs. your long-term financial plan.
If you cannot meet your next payment as a result of being impacted by COVID-19, please see below about options to defer your payment to a later date. Please note that for Student Loans and Personal Loans, while forbearance will allow you to skip payments in the short term, it will extend the life of the loan and cause your loan to accrue more interest over the life of the loan.
• Student Loans: Please complete the form here to apply for a payment deferral. For those that continue to experience hardship, we will work with you to find possible options. Please note that the Federal government program that was recently announced specifically pertains to federal student loans only, but we’re here to help answer any questions you may have. We are providing forbearance of payments for a minimum of 90 days; an initial 60 days with an optional 30-day extension available to those still impacted.
• Personal Loans: Please complete the form here to apply for a payment deferral. For those that continue to experience hardship, we will work with you to find possible options. We are providing forbearance of payments for an initial 30 days with a possible extension available to those still impacted.
• Home Loans: For most SoFi members, you may request hardship relief online by accessing your home loans account here and selecting “manage account” from your home loans card. You may also contact your loan servicer to obtain more details on options at 855-622-3198. Due to high call volumes, please be patient as this may take longer than expected.
If you are concerned about the ability to meet your payments in the future, we will continue to offer support for those impacted by COVID-19. You do not need to apply for deferral of payments today.