How is my payment applied to my SoFi Student Loan? August 05, 2020 22:50 Updated Upon receipt of payment, MOHELA allocates the payment to satisfy any interest due, followed by application to principal. Related articles Can I pay before my SoFi Private Student Loan is fully disbursed? Who gets the welcome packet email from MOHELA, primary or cosigner? Do you have a pre-qualification tool so the student will know immediately if they will be approved for a Private Student Loan? When does my autopay discount begin? / Why do I not see the autopay discount on my account? How do I follow the repayment of my refinance?