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? Should I apply one semester at a time for my Private Student Loan, or for the whole school/academic year? Is a summer term eligible for a SoFi Private Student Loan?