SAN FRANCISCO, Feb. 18, 2020 /PRNewswire/ -- SoFi, the digital personal finance company, and Edmit, the company that helps families make smarter financial decisions about college, today announced a partnership to equip college-bound students and their families with tools and resources needed to make the college selection and financial aid process easier, personalized, and transparent.
Registered SoFi members will now have complimentary access to Edmit Plus, which considers a student's academic merits and family finances to provide data-driven recommendations on college affordability and return on investment. Members can enter their academic profile and receive unlimited college-comparison reports consisting of a personalized cost of attendance (including potential merit scholarships), projected monthly loan repayment amounts, and prospective post-graduation earnings based on profile and major. This information, along with other factors, is also captured in an overall "financial grade" that allows members to easily compare schools to each other.
"SoFi was created to help ease the burden of student debt that is stifling a generation in this country," said Anthony Noto, CEO of SoFi. "We believe it is imperative to understand early on the significance of taking out a responsible amount of debt for college. We are excited to partner with Edmit to help college-bound students and their families make the most informed decision on where to attend college and how to finance the journey, so that they can achieve financial independence."
"Edmit is thrilled to partner with SoFi to offer their members the necessary tools and guidance needed to assist their college-bound students in making the best higher education choices possible," said Nick Ducoff, CEO of Edmit. "With this partnership, we are committed to helping the next generation set themselves up for financial success after graduation."
In addition to Edmit Plus, SoFi membership offers benefits including access to financial planners, complimentary career services, and networking events.
To learn more, visit www.sofi.com/edmit.
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than one million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. SoFi is also the naming rights partner of SoFi Stadium, future home of the Los Angeles Chargers and the Los Angeles Rams, opening in July 2020. For more information, visit SoFi.com or download our iOS and Android apps.
Edmit helps families make smarter college financial decisions so they're better off after college. Founded by former university leaders, our tools and resources for saving, planning, and paying for college have saved families millions of dollars on tuition and loan payments. Edmit's software provides families with personalized reports on how to afford college, including cost estimates, and financial fit scores based on projected ability to repay student debt. Edmit's book, Better Off After College, published in late 2019, was a #1 New Release on Amazon. For more information about Edmit, visit Edmit.me.
SoFi Lending Corp. CFL# 6054612, NMLS #1121636 (www.nmlsconsumeraccess.org). Advisory services are offered through SoFi Wealth, LLC an SEC-registered Investment adviser. Brokerage products and SoFi Money® are offered through SoFi Securities LLC, member FINRA/SIPC. Neither SoFi nor its affiliates is a bank. ©2020 Social Finance, Inc.
Advisory services offered through SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth's advisory operations, services, and fees is set forth in SoFi Wealth's current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.