When you redeem points towards your SoFi Student Loan Refinance, you will see an extra payment applied within 1 business day in MOHELA.
- Example: If you redeem points towards your SoFi Student Loan Refinance on a Friday, your extra payment should be applied through MOHELA by Monday of the following week (assuming no weekday holidays).
If there are any outstanding fees on your account, they will be paid down first, then the remaining amount will be applied to the principal balance.
If you have no outstanding fees, the extra payment will be applied to the principal balance. Points redeemed for extra payments will not impact your monthly amount due.