SoFi Student Loan Refinance Phone Number

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Do you want to ask about Student Loan Refinancing & Private Student Loans? Simply, you are able to contact or chat with Student Loan Support. So, how do you contact SoFi Student Loan Support? Well, keep reading this entire article. Here we are going to share information about SoFi Student Loan Refinance phone number.

Phone number of SoFi Student Loan Refinance

If you want to ask about Student Loan Refinancing & Private Student Loans, you are able to chat with Student Loans Support or call at (855) 456-SOFI (7634). You will be able to contact them on Monday – Thursday (5am–7pm PT), or on Friday – Sunday (5am–5pm PT).

Also, some of you may want to ask about personal loans by calling Personal Loans Support at (855) 456-SOFI (7634). Similar with Student Loans Support, you are also able to contact Personal Loans Support on Monday – Thursday (5am–7pm PT), or on Friday – Sunday (5am–5pm PT).

Is SoFi Student Loan Refinance legit?

SoFi offers a wide range of products which will help you fund your college education. Here are some pros and cons that you should be aware of before applying.

Pros:

  • No fees

You will not be charged any student loan fees with SoFi, even late fees.

  • Unemployment protection

SoFi is recognized for its Unemployment Protection Program, that puts your loans into forbearance in 3-month increments if you lose your job. Also, SoFi offers employment resources, such as personalized strength assessments, resume-parsing technology, and one-on-one time with career coaches.

  • Discounts for co-signers

For those who have a co-signer who is also a SoFi member, you are able to get a 0.125 percent discount on your private student loan.

Cons:

  • Strict requirements to refinance

If you select to refinance your student loans, you must have graduated from an approved college or university and have a steady income or hold a job offer within 90 days of starting the job. If you are a medical resident looking to refinance, you are going to have at least $10,000 in student loan debt and have up to four years left in your approved program.

  • High APR caps

SoFi student loans can be more expensive than loans from competitors if you have subpar credit, especially if you are looking to take out a loan for graduate school.

SoFi Student Loan Refinance requirements

Talking about SoFi Student Loan Refinance, now we are also going to share information about SoFi Student Loan Refinance requirements.

Here are some requirements to refinance student loans:

  • The students must be the age of majority in their state.
  • The students must be a United States citizen, permanent resident or visa holder.
  • The students must reside in a state where SoFi is authorized to lend.
  • The students must be employed or have sufficient income from somewhere else.
  • The students must have graduated with an associate degree or higher from a Title IV school.
  • The students must be refinancing educational debt that originated from an eligible, accredited Title IV school.

FAQs about SoFi Student Loan Refinance

Here are some FAQs about SoFi Student Loan Refinance:

  1. Who should refinance?

Refinancing is a good solution for working graduates who have high-interest, Graduate PLUS loans, unsubsidized Direct Loans, and private loans. Federal loans carry several special benefits including public service forgiveness and economic hardship programs that may not be able to be accessed after you refinance. For this case, you are able to check out the information related to consolidating Federal and Private Loans by Refinancing. Or, you are also able to call them for a free consultation about your particular situation.

  1. Can I refinance both private and federal student loans?

Yes, SoFi will be able to consolidate all qualified education loans.

  1. Am I a nice candidate to refinance my student loans with SoFi?

Need to know that SoFi aims to revolutionize financial services, eventually increasing the system for everyone. At this time, they are able to offer significant savings and flexibility to United States citizens or permanent residents who have graduated from a selection of Title IV accredited university/graduate programs, are employed, has a sufficient income from other sources or hold a job offer with a start date within 90 days, have a responsible financial history, and a strong monthly cash flow.

  1. What is difference between consolidating and refinancing?

The student loan consolidation is when you combine some loans into one single loan. On the other hand, Student loan refinancing is when you get a new loan at a new interest rate or a new term. You are able to refinance both federal and private loans.

  1. What is the difference between fixed rate loans and variable rate loans?

Fixed rate loans are loans which have an interest rate that does not change over the life of a loan. It means that you pay the same amount each month. Also, it means you know with certainty the total interest that you are going to pay over the life of the loan. Need to know that fixed rate loan is a common term which can apply to different types of loans with a variety of uses, including student loans, mortgages, unsecured personal loans and auto loans.

Variable rate loans are loans which have an interest rate which will fluctuate over time in line with prevailing interest rates. Generally they have lower starting interest rates than fixed rate loans. However, the interest rate and payment amounts are able to change over time. Also, sometimes Variable rate loans are known as floating rate loans.

  1. Where can I find more information about the student loans in general?

Apparently, deciding how to best handle your student loan obligations may be an intimidating process. That is why they have put together their Student Loan Help Center to give you guidance on payments, budgeting, refinancing, and common terminology so you are able to feel more confident in your journey to becoming debt free.

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