Is a summer term eligible for a SoFi Private Student Loan? July 28, 2020 02:47 Updated Yes, Summer Term is available as long as the applicant meets the school's definition of being enrolled at least half time. Related articles Do you have a pre-qualification tool so the student will know immediately if they will be approved for a Private Student Loan? What are the Private Student Loan repayment options and terms available for students? Which type of student loan should I apply for? What are SoFi's Personal Loan term options? Do your Private Student Loans cover multi-year academic periods or one year at a time?