SoFi Private Student Loans Covers 100% of School-Certified Cost

Considering a Private Student Loan? SoFi Offers Flexibility and Rewards

While scholarships, grants, and federal aid should be your first options for financing college, private student loans can help cover the remaining costs of attendance. SoFi offers flexible loan plans tailored to fit each student’s needs.

Key Features of SoFi Private Student Loans

• Loan Amounts: Borrow from $1,000 up to the full cost of attendance, including tuition, housing, and other eligible expenses.
• Repayment Terms: Choose from 5, 7, 10, or 15-year repayment plans. Shorter terms typically result in higher monthly payments but lower total interest, while longer terms offer lower monthly payments with more interest over time.
• Repayment Options: Start making payments immediately or defer until six months after graduation. Paying sooner reduces the overall cost of the loan.
• Interest Rate Discount: Enroll in autopay to receive a 0.25% interest rate reduction.
• Good Grades Reward: Maintain a GPA of 3.0 or higher to qualify for a one-time cash bonus, $100 for single-semester loans and $250 for full-year loans.
• No Fees Required: SoFi charges no origination fees, no late fees, and no insufficient funds fees.
• Credit Check: Check your rate with a soft credit inquiry that won’t affect your credit score.

Additional Benefits

• SoFi Member Rewards: Earn points for actions like checking your credit score or making on-time payments. Points can be redeemed for cash that can be used however you choose.
• User-Friendly Tools: SoFi provides calculators and resources to help you understand your loan options and manage repayment with confidence.

Before deciding on a loan amount, carefully consider your budget and long-term financial situation. SoFi’s flexible terms and support tools are designed to help you make informed borrowing decisions.

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Disclosure: Scholarships.com may receive compensation from SoFi or other lenders when users click on links and/or apply for student loans through our site. This compensation does not influence our recommendations or the information we provide. We strive to offer accurate and unbiased content to help students and parents make informed financial decisions.

Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.

Good Grades Reward: If eligible, you may receive one cash reward to a SoFi Checking and Savings account. The cash reward offered is $100 for single-semester loans and $250 for full-year loans. Additional terms and conditions apply, see https://www.sofi.com/private-student-loans/rewards-for-good-grades/ for details.