My Sofi Review

My Sofi ReviewSoFi is a lender that provides student loan refinancing, mortgages and personal loans. They were founded in 2011. They aren’t considered a traditional lender. Sofi is focused on accelerating your progress when paying off your loans.

If you are having a hard time with your student loan payments you may want to give Sofi a look. Refinancing your student loans with them can save you a decent amount of money. SoFi can refinance your undergraduate and graduate loans. They currently have over 2200 accredited 4-year universities that qualify for their student’s loans to be refinanced.

SoFi has variable and fixed rate options that you can choose from. The variable rates start from 1.90% APR to 5.23% APR with autopay. The fixed rates start from 3.50% APR to 7.24% APR with autopay.

You may be asking what makes someone a good candidate to refinance wit SoFi. Below are a few things that they look at.

  • Have a good financial history.
  • Strong cash flow each month.
  • Employed or have a job offer with a start date within 90 days.
  • Graduated from their selection of Title IV accredited programs.

Some lenders only refinance federal loans. SoFi refinances federal as well as private loans. If you have both types you should really consider using them.

Does everyone qualify for refinancing?

Unfortunately, the answer is no. Everyone doesn’t qualify for refinancing with Sofi. A few reasons why your application could be rejected are listed below.

  • Lack of a responsible financial history.
  • Not being in good standing on your current loans.
  • Not having a good employment history.

Another cool thing about SoFi is their student loan calculator. It compares your student loan debt info to see if you could lower your monthly payments. All you have to do is enter your loan amount, the APR, and the remaining term. The calculator does the rest.

An additional benefit is that there aren’t any fees to sign up with SoFi. You heard that correct SoFi is free to sign up with.

If you are interested in refinancing your student loans you have to give SoFi a shot. They are here to help you out. Trying to eliminate student loans can be very stressful, but you have to realize that it can be done. SoFi wants to assist you by paying them off sooner than later.

Click here to check out SoFi.

Do you have a ridiculous amount of student loans? Have you thought about refinancing them?


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  1. This is good info…I’ve never heard of these folks before, but it sure sounds like a good deal provided you qualify.
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