If you need to refinance your student loan or get a private loan as an undergraduate then a SoFi online student loan could provide you with what you need.  Just note that the average borrower's income for refinanced loans is $100,000. This of course doesn't mean that you need to be earning that much, but it does give you an idea of who is getting approved on average. 

Getting an education is important, and the last thing you need to stress about is where your money is going to come from. If you've made it through to your associate's degree, you can refinance your student loan. If you are an undergraduate, you can qualify for a private loan from SoFi.


As a student, you can find yourself in a difficult spot if you don't have financial support and don't have time for a job. A SoFi loan might just help you get out of that mix so you can focus on the books instead of the dollars. Of course, when applying for any type of loan, you need to make sure you are prepared for the repayment and the interest that goes with it. We've done our research on the SoFi online student loan so you can make an informed decision about whether or not it is right for you.

Refinance with a SoFi online student loan
Image source: prnewswire.com

What are the Benefits of a SoFi Online Student Loan

SoFi provides more than just financial help. They also help you with career planning and entrepreneurship opportunity, which is great when you're somewhere between completing your degree and landing that dream job.  Of course, if you're reading here, then you are looking for more than career counselling, you want some financial assistance and SoFi has some great opportunities for you.

Specifically, they offer a financial solution for graduates that have availed high-interest yet unsubsidized direct loans, private loans or graduate PLUS loans. SoFi options can be used for federal and private loans. The best thing about SoFi’s offers is that they come with fixed rates. As opposed to variable rates, this rate does not change as you go along the loan term. This provides predictability and stability, allowing you to manage your loans far better.


There is nothing better than knowing you are taking steps to improve your current financial conditions. With the student loan offer that SoFi provides, you may be able to get closer to freedom from your student loans. If you are interested in getting this kind of loan then we've provided details on how to apply below. 

How to Apply for a Sofi Student Loan 

Applying for this loan is pretty straightforward. You can simply jumpstart your application by visiting the Sofi website and use their online application form. However, a successful application requires fulfillment of the company’s eligibility criteria. You must be 18 years old or above and a US citizen or a permanent resident. This loan is available in all 50 states plus the District of Colombia. For permanent residents, make sure that you have 2 years before your papers expire or you can file an extension.

SoFi also requires employment documents. This includes current employment or an offer that starts within the next 90 days. You can also be a self-employed individual. As this refinancing option is for those with student loans, you must be a graduate of an associates’ degree or higher. Your diploma should be from a Title IV school. Keep in mind that ONLY educational debts are covered by this refinancing loan.


Before applying for this loan, you can calculate your savings when you use this refinancing option. This way, you can compare your current loan with the refinancing plan. Just enter your loan amount, rate, and monthly payments. Then, the calculator will show you how much you can save when you switch to a SoFi online student loan.

SoFi Online Student Loan: The Details

When you get a SoFi online student loan, you can rest assured that you will have manageable repayment terms. This is where the flexibility of the loan comes in. You can choose to get a 5-year, 7-year, or 10-year term and you will be given an annual percentage rate based on the loan amount and term. A 5-year term is given an APR of 4.03%, a 7-year term is assigned a 4.57% APR and a 10-year term comes with a 4.98% APR, on average.


How to Contact Sofi Student Loans 

To learn more about the benefits and process of refinancing your student loans, it is best to contact SoFi directly. You can call 855-456-7634 and speak with a representative or visit their main office at 2750 East Cottonwood Parkway #300
Cottonwood Heights, Utah. 

Note: There are risks involved when applying for a loan. Consult the lender’s terms and conditions page for more information.