The Student Loan Refinance (SLR) Snooze Program allows applicants to refinance their federal student loans at historically low interest rates without having to start repayment until February 1st, 2022.
Will my SLR Snooze Program be impacted by the CARES Act Extension?
If you haven’t signed your loan documents, you received an email on 8/13 advising you to choose an option of keeping the disbursement September 20th or extending the disbursement to December 20th with the first payment due February 1st.
If you haven’t signed your documents, SoFi is automatically extending the disbursement to December 20th with the first payment due February 1st.
How do I sign up for the SLR Snooze Program?
When you start an application and select that you have federal loans, you will be taken to a page that will explain the Snooze Program. On that page you will be able to select if you want to be a part of the program or if you want to start immediate repayment.
If you do not see that option, please chat with our Member Experience team. We would be more than happy to add the Snooze Program to your refinance, should you qualify.