One of the biggest names in the private student loan space, SoFi offers no-fee, competitive financing for undergraduate, graduate, law, MBA and health profession programs.
Rated one of our top student loan lenders, it also provides a variety of forbearance and deferment options, including the ability to put payments on hold for up to 12 months if you lose your job.
Unlike some student loan lenders, SoFi is also a full-service bank, and members enjoy benefits like premium travel offers, one-on-one financial planning, a 0.125% rate reduction on student loan refinancing and preferred rates on other loans.
- $25/month partial interest payment option available while you are enrolled at least half-time
- 0.25% interest rate discount for autopay
- Co-signers eligible for release after 12 consecutive payments
- Offers a $250 bonus to eligible borrowers with a 3.0 GPA or better
- Existing SoFi members may qualify for an additional rate discount
- Good to excellent credit is typically required for approval
- $5,000 minimum loan amount is higher than other lenders' minimums.
Interest Rates: Eligibility and Important Details. Fixed rates range from 2.99% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 4.64% APR to 15.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 9/3/2026 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases.
SoFi student loans
- What does SoFi offer student loans for?
- How do I qualify for a SoFi student loan?
- What student loan repayment options does SoFi offer?
- SoFi benefits and features
- SoFi student loan pros and cons
- How do I apply for a SoFi student loan?
- How does SoFi compare to other student loan lenders?
- SoFi student loan FAQs
What does SoFi offer student loans for?
SoFi offers private student loans for undergraduate, graduate, law, health profession and MBA programs and for international and parent borrowers. It also offers student loan refinancing for federal and private undergraduate, graduate and professional degree loans.
Student loans are available in 50 states and the District of Columbia. Student refinancing is also available in Puerto Rico, American Samoa and the U.S. Virgin Islands.
How do I qualify for a SoFi student loan?
To qualify for a SoFi student loan, you must meet several eligibility criteria:
- Age: Must be the age of majority in your state, or have a co-signer who is.
- Residency: US citizen, permanent resident, or non-permanent resident alien, including DACA recipients and asylum seekers. (Residents of Puerto Rico and the U.S. Virgin Islands are also eligible.)
- Credit: Good to excellent credit (FICO score of 650+) or have a creditworthy co-signer.
- Employment: Borrowers or co-signers must be employed, have an offer of employment to start within the next 90 days or have sufficient income from other sources.
- Purpose: Funds must be used for qualified higher education expenses at an eligible Title IV institution.
- Enrollment: Must be enrolled at least half-time in a degree-granting program.
You must apply with the necessary documentation, such as proof of income, ID and school certification.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
Undergraduate and graduate students, parents, students in MBA, law, health professional and dental programs
$5,000 (or state-mandated minimum) up to the cost of attendance
5, 7, 10, 15, years; up to 20 years for refinancing loans
Terms apply.
Undergraduate, graduate, Master's, PhD, MBA, law school, medical school, health professions, dental school, medical and dental residency loans, bar study loans.
$1,000 up to 100% of the cost of attendance
10 to 15 years
What student loan repayment options does SoFi offer?
SoFi offers several repayment plans:
- Immediate: Full payments start as soon as you open the loan.
- Interest-only: Pay only interest until six months after you graduate or drop below half-time.
- Partial: flat $25 monthly payment toward interest while in school. Full repayment begins six months after you graduate or drop below half-time.
- Full deferment: No payments due until after you graduate or drop below half-time (interest accrues)
SoFi benefits and features
SoFi goes beyond traditional student lending to offer a range of perks:
- Cash bonus: Borrowers with a GPA of at least 3.0 can qualify for a $250 cash bonus once per year.
- Deferment and forbearance options: If you lose your job, you may qualify for forbearance in three-month increments, up to a total of 12 months. (Interest generally continues to accrue.)
- Career advice: SoFi members get free access to advisors who can help with resume building, job searches and interview prep.
- Member discounts: Existing SoFi members may qualify for a 0.125% interest rate discount on student loan refinancing, as well as preferential rates on additional loans
SoFi student loan pros and cons
Like any private lender, SoFi has its strengths and weaknesses.
Pros
- No fees or prepayment penalties
- $25/month partial interest payment option available while you are enrolled at least half-time
- Can apply to release a co-signer after 12 consecutive payments
- Borrowers with at least a 3.0 GPA may qualify for $250 cash bonus once per year.
Cons
- Requires strong credit or a co-signer
- Maximum 15-year repayment term for new loans
- No co-signer release on refinanced loans
SoFi customer service
SoFi offers a 7-day-a-week customer support via phone, email or live chat. It received an A+ from the Better Business Bureau and has an excellent 4.3 stars out of 5 on Trustpilot.
How to apply for a SoFi student loan
To apply for a SoFi loan, you'll first have to get prequalified with a soft credit check. From there, you'll:
- Choose your rate and term
- Submit a full application with supporting documents
- Certify your loan with your school
- Receive disbursement directly to the school once approved
How SoFi compares to other student loans
While SoFi offers flexible terms and valuable perks, many of the same benefits are available with Earnest, which has a wider range of loan terms and limits — from $1,000 up to the full cost of attendance, or $5,000 to $550,000 for student loan refinancing.
Earnest also provides borrowers with a nine-month grace period, three more months than what SoFi offers.
- Student loan refinancing available
- Offers the option to apply with a co-signer
- Nine-month grace period
- Borrowers can skip one payment per year without penalty
- No physical branches
- Student loan refinancing not available in Mississippi
Actual rate and available repayment terms will vary based on your financial profile. Our lowest rates are only available for the most credit qualified existing cosigned loan borrowers who receive the 0.25% Loyalty discount and requires selection of our shortest term offered, full principal and interest payment while in school, and enrollment in our 0.25% Auto Pay discount. Enrolling in Auto Pay is not required as a condition for approval. Interest rates are subject to change.
Residents of Hawaii must request a loan of at least $1,501.
You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment from a checking or savings account. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. It is important to note that the 0.25% Auto Pay discount is not available when loan payments are deferred during the interim period as a result of selecting the deferred repayment option.
To be eligible for the Loyalty Discount, applicants must have previously obtained an Earnest Private Student Loan and apply using the same email address associated with that loan. Only one Loyalty Discount may be applied per eligible Earnest Private Student Loan. Not all applicants may qualify. This offer cannot be combined with Earnest's Rate Match program. Earnest may modify or discontinue this offer at any time and without notice, however, once a Loyalty Discount is earned, it will not be taken away.
Nine-month grace period is not available for borrowers who choose our Principal and Interest Repayment plan while in school.
Earnest clients may skip a payment through a single, one-month forbearance during a 12 month period. Your first request to skip a pay can be made once you've made at least 6 months of consecutive on-time full principal and interest payments, and your loan is in good standing. The interest accrued during the skipped month will result in an increase in your remaining minimum payment. The final payoff date on your loan will be extended by the length of the skipped payment periods. Any unpaid accrued interest may capitalize (added to the principal balance) at the end of the forbearance period by adding unpaid accrued interest to the outstanding principal as permitted by law and the terms of the loan agreement. Please note that skipping a payment is not guaranteed and is at Earnest's discretion. Your monthly payment and total loan cost may increase as a result of postponing your payment and extending your term.
If you're looking to apply without a co-signer, Ascent approves loans for borrowers without established credit or a co-signer by evaluating alternative factors, such as the school, program, expected graduation date, major, GPA, cost of attendance and Satisfactory Academic Progress (SAP).
- Considers borrowers with no credit
- High loan limit
- Co-signer release available after just 12 payments
- Up to 1% interest rate discount for autopay*
- 1% cash back rewards*
- Considers alternative requirements like the borrower’s school, program, graduation date, major, GPA, cost of attendance and Satisfactory Academic Progress (SAP) to grant approval
- Maximum fixed APR is on the high side
- Doesn't offer student loan refinancing
Disclosure: *Ascent Funding, LLC products are made available through Bank of Lake Mills or DR Bank, each Member FDIC. Subject to credit approval. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations, terms and conditions may apply for Ascent's Terms and Conditions please visit AscentFunding.com/Ts&Cs. Annual Percentage Rates (APRs) displayed above are effective as of 7/15/2026 and reflect an Automatic Payment Discount (ACH). The ACH discount consists of 0.25% on credit-based college student loans submitted prior to 6/1/2025, a 0.5% discount for on credit-based college student loans submitted on or after 6/1/2025 and a 1.00% discount on outcomes-based loans when you enroll in automatic payments. Loans subject to individual approval, restrictions and conditions apply. Loan features and information advertised are intended for college student loans and are subject to change at any time. For more information, see repayment examples or review the Ascent Student Loans Terms and Conditions. The final amount approved depends on the borrower's credit history, verifiable cost of attendance as certified by an eligible school and is subject to credit approval and verification of application information. Lowest interest rates require full principal and interest (Immediate) payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the examples above, based on the amount of time you spend in school and any grace period you have before repayment begins. Variable rates may increase after consummation.1% Cash Back Graduation Reward subject to terms and conditions. For details on Ascent borrower benefits, visit AscentFunding.com/BorrowerBenefits. Ascent applicants and borrowers that agree to the AscentUP Terms of Service and Privacy Policy, as well as students associated with an Ascent parent loan application, have access to the AscentUP platform.
FAQs
Does SoFi offer student loan refinancing?
Yes, SoFi offers refinancing of federal and private loans for undergraduate and graduate borrowers with repayment terms ranging from 5 to 20 years. While you can prequalify without a hard credit pull, SoFi does not offer a co-signer release option for refinancing.
Can loans from SoFi be forgiven?
Private student loans are not eligible for federal forgiveness programs. Loan forgiveness from SoFi is typically available only in the event of a borrower's death or permanent and total disability.
How do I qualify for a SoFi student loan?
To be eligible for a SoFi student loan, you must be a U.S. citizen or permanent resident and meet the lender's credit score and income requirements. If you have a co-signer, the co-signer must meet these qualifications.
What are the drawbacks of a student loan with SoFi?
While many lenders have 20-year loan terms, SoFi's longest term is just 15 years. In addition, it's $5,000 loan minimum is higher than many competitors.
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Interest Rates: Eligibility and Important Details. Fixed rates range from 2.99% APR to 15.99% APR with 0.25% autopay discount. Variable rates range from 4.64% APR to 15.99% APR with a 0.25% autopay discount. Unless required to be lower to comply with applicable law, Variable Interest rates are capped at 17.95%. SoFi rate ranges are current as of 9/3/2026 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term and type of repayment option you select, evaluation of your creditworthiness, income, presence of a co-signer (if applicable) and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. Check out our eligibility criteria at https://www.sofi.com/eligibility-criteria/. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases.
Autopay Discount: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly payments as outlined in your loan agreement by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. When the autopay interest rate deduction is added or removed, the next time the loan is re-amortized (quarterly for fixed rate loans; monthly for variable rate loans),the principal balance of your loan will be spread over the remaining loan term, and your monthly payment amount will change. This benefit is suspended during periods of deferment, grace period, or forbearance. Autopay is not required to receive a loan from SoFi.
