SoFi Takes Education Financing Back to School with New Private Student Loans
Offering Competitive Rates, No Fees, and Membership Benefits in a Seamless Mobile-First Experience
SAN FRANCISCO, April 8, 2019 /PRNewswire/ -- SoFi announced today the availability of SoFi Private Student Loans1, with no fees, competitive rates, flexible payment options, and a mobile-first experience.
SoFi Private Student Loans are now available for undergraduate students. SoFi will be opening up the product for graduate school students and parents in the coming weeks. Learn more about SoFi Private Student Loans and availability here.
"The traditional student loan application process is daunting," said SoFi CEO Anthony Noto. "We've taken everything we've learned in making lending convenient and painless and brought those solutions to younger consumers and their parents through SoFi Private Student Loans."
SoFi's Private Student Loans offering is built around an easy and transparent application process that can be completed online or on a mobile device. Applicants can pre-qualify in minutes without any impact to their credit score2 and will be able to easily add a cosigner through a digital process. SoFi supports members through the search and student loan selection process by offering access to customer service seven days a week, in addition to SoFi Learn, an online resource center with over 500 articles, budgeting tools, guides, calculators and more.
SoFi Private Student Loans offer competitive rates for variable and fixed rate loans, with no fees or prepayment penalties, and four repayment options (deferred, interest only, partial, and immediate). SoFi Private Student Loans will be available to applicants from all four-year public and private institutions by this summer.
SoFi membership, which comes with every SoFi product, offers benefits including exclusive events across the country, complimentary financial planning, and career coaching to all members through an exclusive partnership with Korn Ferry. Members also receive a rate discount on additional SoFi loans of a different type.
About SoFi
SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than half a 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. For more information, visit SoFi.com or download our iOS and Android apps.
1SoFi loans are originated by SoFi Lending Corp., a lender licensed by the Department of Business Oversight under the California Financing Law, license number 6054612; NMLS # 1121636. (www.nmlsconsumeraccess.org)
2To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. A hard credit pull, which may impact your credit score, is required if you apply for a SoFi product after being pre-qualified.
SOURCE SoFi
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