NEW YORK and SAN FRANCISCO, May 30, 2017 /PRNewswire/ -- Today, SoFi and JetBlue (NASDAQ: JBLU) announced a partnership that lets those with student loans simultaneously lower their payments while earning valuable airline loyalty points, the first partnership between a direct lender for student loans and an airline.
Through the partnership, JetBlue's TrueBlue members who refinance their student loans with SoFi will now earn 1 TrueBlue® point for every $2 they refinance through the lender, up to 50,000 points. With average monthly savings of $288*, refinancing student loans with SoFi frees up extra money that members can use to pursue travel plans, save and invest for the future, or buy a home.
Younger Americans, especially the Millennial generation, are eager to travel but record student debt levels are holding them back:
- The average Class of 2016 graduate is carrying $37,172 in student loan debt
- When asked which investment, purchase or life event has been delayed due to student debt repayment, 53% of Millennials said travel, more than buying a home (45%) or saving for retirement (38%)
- Of Millennials who do not have enough money to travel as much as they'd like, nearly 90% say that if they suddenly had more money to spend, they would travel more.
"We hear every day from SoFi members that refinancing their student loans helps them get more out of life," said Catesby Perrin, VP of Business Development at SoFi. "We're thrilled to work with JetBlue to open up a world of travel opportunities while helping people pay off their student loans faster at the same time."
TrueBlue members are able to refinance their loans with SoFi and earn points today by visiting https://www.sofi.com/jetblue/.
"Our new partnership with SoFi truly rewards loyalty, allowing TrueBlue members to earn points while lowering their student loan debt," said Scott Resnick, director loyalty marketing, JetBlue. "SoFi has created an innovative model that helps those with debt refinance while earning points for future travel."
Additional information about TrueBlue and how to register can be found here: https://trueblue.jetblue.com.
*Terms and Conditions: Offer eligible for new student loan refinance customers only and may not be combined with any other offers or discounts, apart from the AutoPay discount. Offer is subject to lender approval. To receive this offer, you must: (1) have and provide your TrueBlue® member account; (2) complete a loan application with SoFi for a student loan refinance product; (3) register and/or apply through the landing page sofi.com/jetblue; (4) and meet SoFi's underwriting criteria. Once conditions are met and the loan has been disbursed, you will receive your TrueBlue points within 90 days. SoFi reserves the right to change or terminate the offer at any time with or without notice. Additional restrictions or conditions may apply. TrueBlue is a registered trademark of True Blue, Inc.
Loans are originated by SoFi Lending Corp. and may not be available in all states; see sofi.com/legal. California Finance Lender License # 6054612
Social Finance, Inc. ("SoFi") is a new kind of finance company taking a radical approach to lending, wealth management and insurance. From unprecedented products and tools to faster service and open conversations, we're all about helping our members get ahead and find success. Whether they're looking to buy a home, save money on student loans, ascend in their careers, or invest in the future, the SoFi community works to empower our members to accomplish the goals they set and achieve financial greatness as a result. For more information, visit SoFi.com.
JetBlue is New York's Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles (Long Beach), Orlando, and San Juan. JetBlue carries more than 40 million customers a year to 101 cities in the U.S., Caribbean, and Latin America with an average of 1000 daily flights. For more information please visit jetblue.com.
For press inquiries:
Laurel Toney –email@example.com
JetBlue Corporate Communications
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