Do your Private Student Loans cover multi-year academic periods or one year at a time? July 31, 2020 18:33 Updated SoFi Private Student Loans currently only cover one academic year at a time. Related articles How much should I request for a SoFi Private Student Loan? / What costs can I include? Can I cancel my SoFi Private Student Loan while it's in certification? What are the Private Student Loan repayment options and terms available for students? Can the SoFi Private Student Loan be used for certificate programs, less than half time, or SAP students? How long does it take to receive the funds?