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 What are the Private Student Loan repayment options and terms available for students? 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 SoFi's Personal Loan term options? Which type of student loan should I apply for? Do your Private Student Loans cover multi-year academic periods or one year at a time?