SoFi Loans: A Full Guide to Personal, Student and Refinancing Options

SoFi offers personal loans, private student loans, and student loan refinancing, with online prequalification, competitive-rate options, and digital tools for borrowers comparing financing and repayment choices.

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Everything You Need to Know: SoFi Loans

SoFi Personal Loans, Student Loans and Refinancing

SoFi's lending products cover several borrowing needs, from education expenses and personal borrowing to refinancing existing student debt.

Personal Loans

SoFi personal loans are unsecured installment loans that can be used for eligible personal, family, or household expenses, including debt consolidation and other qualified needs. Borrowers can check potential rates through prequalification before submitting a full application.

Private Student Loans

SoFi private student loans are available for eligible undergraduate and graduate students and can help cover qualified education costs. SoFi offers prequalification using a soft credit pull, allowing applicants to check potential eligibility without affecting their credit score.

Student Loan Refinancing

SoFi student loan refinancing allows eligible borrowers to refinance qualified federal and private education loans through a new private loan. Eligibility depends on factors including the borrower's education history, financial profile, and loan type.

Student Loan Prequalification

Borrowers searching for SoFi student loans prequalify can check potential rates and terms through a soft credit pull. Prequalification is not a guarantee of approval, and continuing with a full application can involve a hard credit inquiry.

Undergraduate and Graduate Student Loans

SoFi offers undergraduate student loans and graduate student loans for eligible students. Loan terms, rates, eligibility requirements, and repayment options can vary depending on the program and borrower.

Consolidating and Refinancing Student Debt

Borrowers searching for SoFi consolidate student loans, SoFi consolidate loans, or SoFi student debt may be considering refinancing multiple education loans into a new loan. SoFi notes that refinancing can affect federal-loan benefits, including certain federal repayment and forgiveness programs, so borrowers should review those tradeoffs before refinancing.

Pros

Soft Credit Prequalification SoFi allows eligible applicants to check potential rates and terms using a soft credit pull that does not affect their credit score. A full application may involve a hard credit inquiry.
Multiple Student Loan Options SoFi offers private student loans, undergraduate student loans, graduate student loans, and student loan refinancing, giving borrowers different options depending on whether they are financing education or managing existing education debt.
Personal and Student Financing In addition to student lending, SoFi personal loans provide another borrowing option for eligible personal, family, or household expenses, including debt consolidation.