General SoFi Student Loan Information

• Refinance your own student loans (in your name and for your education).
• Refinance and assume responsibility for PLUS loans originated by your parent.

Choose a Parent PLUS Refinance if you’d like to:

• Refinance an existing PLUS loan for your child.
• Consolidate student loans that are in a parent's name, but associated with their child's education.

Choose a Medical or Dental Residency Refinance if you’d like to: 

• Refinance existing medical student loans 
• • Please note that residency relocation loans are ineligible 
• Only pay $100 monthly during your residency or fellowship 

Choose a Private Student Loan if you'd like to:

• If you are a current student or a parent with a child who is a current student.
• • Undergraduate Loans
  • Graduate Loans
  • Graduate Program Loans, such as Medical and Veterinary, Dental, STEM, Law, and MBA
  • Parent Loans

Who will service my student loan?

We service our student loans! Once your loan goes into repayment you can contact us to answer any questions at 855-456-7634.

How do I get a lower rate on a SoFi Private Student Loan?

You have the option to provide additional income documentation to see if it assists with your offer eligibility. Another option would be to add a co-signer on the loan to help with eligibility and potentially better rates.

How is my payment applied to my SoFi Student Loan?

Any payment you make, including your monthly payment or an extra payment, is first applied to any interest that has accrued on the loan since the last payment received. Once that interest is satisfied, the remaining amount is applied to your principal balance. This is standard across the Student Loan industry and helps prevent unpaid interest from accumulating and creating larger balances down the road.

How do I change my due date for my student loan refinance?

If you are interested in changing the due date of your student loan payments, please give us a call at 855-456-7634, and our team would be happy to assist! We can accommodate any payment date between the 1st and 28th.

I have an active student loan application that I want to cancel, how do I do that?

We’ll be sorry to see you go, but we can help! Give us a call at 855-456-7634 and one of our customer support representatives will assist you with your request.

For student loans, does SoFi offer any special discounts or forgiveness programs for those in the military?

SoFi does not currently offer specific discounts for military members. However, borrowers who are called to active duty may be eligible for a military deferment.

Additionally, borrowers who are in repayment may qualify for benefits under the Servicemembers Civil Relief Act (SCRA). If eligible, the loan servicer will cap the interest rate at 6% while the borrower is on active duty, if the existing rate is higher.

What repayment assistance programs and cosigner release options are offered by SoFi?

SoFi offers programs and benefits for borrowers experiencing financial hardship. SoFi also offers a cosigner release option for private student loans.

Will making a large payment or additional payments change my monthly due amount?

Making a large payment or additional payment does not automatically change your monthly payment. For a fixed-rate loan, you will continue to owe the same amount the following month unless you request a re-amortization, which may lower your monthly payment.

For a variable-rate loan, you will also owe the same amount the following month unless you either (1) request a re-amortization, or (2) the SOFR rate changes and your loan re-amortizes due to a change in your interest rate.

If you have made additional payments to your loan, we may be able to re-amortize your loan, which may reduce your monthly payment. 

Have more questions? Chat with us or call 855-456-7634 to speak with an agent.