Loan decisions are based on a combination of factors, and the reason shown may not capture every part of the review.
Personal Loans
- For Personal Loans, SoFi reviews a number of factors when evaluating eligibility, including your credit profile, income, and overall financial picture
- We may also consider your repayment history with SoFi, including whether any current or former SoFi loans were ever delinquent or had late payments
- State laws and regulations may also affect eligibility
Private Student Loans
- For Private Student Loans, eligibility depends on a combination of factors such as financial history, credit profile, income, borrower or cosigner qualifications, school eligibility, and school certification requirements
- In some cases, an application may also be declined because the school or loan type does not meet program eligibility requirements
Student Loan Refinance
- For Student Loan Refinance, eligibility depends on a number of factors, including your financial history, credit score, debt-to-income ratio, employment or income, and whether the loans you want to refinance meet SoFi’s qualified education loan requirements
- If you already have a SoFi Student Loan Refinance, additional good-standing requirements may also apply
Please note: The reason listed on your decision may reflect only part of the review. Your application decision may be based on one or more eligibility factors, not just a single item.
Have more questions? Chat with us or call 855-456-7634 to speak with an agent.