Thank you for reaching out regarding your concerns on the recent Federal Rate decrease and how this may impact your SoFi Personal Loan. Please note that the most recent announcement regarding the Federal Rate decrease did not impact our SoFi Personal Loan interest rates as of now. The SoFi Personal Loan rates Sofi is able to offer are determined, at this time, by a combination of a prime (base) interest rate as well as a 1-month LIBOR (London Interbank Offered Rate) which may fluctuate depending on if this increases or decreases.
If you have further concerns regarding the repayment of your SoFi Personal Loan, please complete our hardship relief form here: https://www.sofi.com/account/#/loan-mod/request.
Please note: If your SoFi Personal Loan is a variable-rate loan, the recent changes by the Federal Reserve do not directly impact the variable rate as we use the LIBOR index, not the rate established by the Federal Reserve system.