On this page13 sections
- Ratings and complaints
- SoFi vs. competitors
- Pricing
- Step by step
- Is SoFi legit for student loans?
- SoFi student loan rates and fees
- What you give up refinancing federal loans
- Who qualifies for SoFi student loans
- SoFi student loan complaints and how to avoid them
- Unemployment Protection and hardship options
- What customers say
- Alternatives
- FAQ
SoFi is a strong first quote for graduates with good credit who want to refinance private loans, since it publishes its full refinance range (4.49% to 10.99% fixed with discounts, as listed October 2026) and charges no origination, late or prepayment fees. It is a legitimate student lender: its loans are originated by SoFi Bank, N.A., an FDIC-insured national bank owned by publicly traded SoFi Technologies. The catch is that the lowest rates assume autopay and a SoFi membership discount, and refinancing federal loans permanently gives up income-driven repayment, PSLF and federal forbearance. Check federal options at StudentAid.gov first, then compare SoFi with at least one other lender.
- Lender
- SoFi Bank, N.A., Member FDIC, NMLS #696891; parent SoFi Technologies is listed on Nasdaq1
- Refinance APR
- 4.49% to 10.99% fixed and 5.74% to 10.99% variable with autopay and Member Rate discounts, as listed October 20269
- Refinance minimum
- $5,000 in total student loans from an eligible Title IV school1
- In-school loan APR
- Undergraduate fixed from 2.99% and variable from 4.64%, up to 15.99%, with autopay, as of October 13, 2026; variable capped at 17.95%3
- In-school minimum
- $1,000; not available for associate degree programs4
- Fees
- No application, origination, insufficient funds or late fees, and no prepayment penalty on private student loans3
- Hardship help
- Unemployment Protection: forbearance in 3-month blocks, up to 12 months over the life of the loan; interest still accrues5
- CFPB complaints
- 319 student loan complaints about SoFi from October 2023 to October 20266
Pros
- Full refinance rate range published, with a 10.99% fixed maximum
- No origination, late or prepayment fees
- Refinances from $5,000 and covers parent PLUS loans
- Unemployment Protection pauses payments up to 12 months
- Lender is an FDIC-insured national bank
Cons
- Lowest refinance rates need autopay plus a SoFi membership discount
- Refinancing federal loans ends PSLF, income-driven plans and federal forbearance
- Minimum credit score isn't published
- In-school loans aren't available for associate degree programs
- Most CFPB complaints concern servicing after the loan closes
Best for: Graduates with good credit and steady income who want to refinance private student loans, or federal loans they're sure they won't need federal protections for.
Skip it if: You work in public service, expect to use income-driven repayment, or have fair credit and no cosigner.
SoFi vs. competitors
| Company | Refinance fixed APR | Minimum to refinance | Minimum credit score | Type | Next step |
|---|---|---|---|---|---|
| SoFi | 4.49% to 10.99% | $5,000 | Not published | Bank lender | |
| Earnest | From 4.45%, maximum not published | $5,000 ($10,000 in CA) | 650 | Lender | Read review |
| ELFI | From 4.29%, maximum not published | $10,000 | 680 | Lender | Read review |
| Splash Financial | 4.29% to 11.37% across partners | $5,000 in general | Varies by lender | Marketplace | Read review |
SoFi pricing at a glance
SoFi student loan rates and terms, as listed October 20263
| Loan | Fixed APR | Variable APR | Minimum | Terms |
|---|---|---|---|---|
| Student loan refinance | 4.49% to 10.99% | 5.74% to 10.99% (cap 13.95%) | $5,000 | 5, 7, 10, 15 and 20 years |
| Undergraduate in-school | From 2.99%, up to 15.99% | From 4.64%, up to 15.99% (cap 17.95%) | $1,000 | 5 to 20 years in SoFi's examples |
Ranges include a 0.25% autopay discount, and refinance ranges also include a 0.125% Member Rate discount for SoFi members. Variable rates follow the 30-day average SOFR plus a margin. Your rate depends on credit, income, term and any cosigner. Checking your rate is a soft pull; applying is a hard pull.
SoFi, step by step
Check federal options first
If you have federal loans, compare income-driven repayment and forgiveness on StudentAid.gov's Loan Simulator, because refinancing with SoFi ends those benefits.
Check your rate
Enter your details on SoFi's site for a soft credit pull that doesn't affect your score, and see offers by term and fixed or variable rate.
Apply and upload documents
Submit ID, income proof and loan statements. This triggers a hard credit pull. In-school loans also need school certification and, often, a cosigner.
SoFi pays off your old loans
For refinancing, SoFi pays your current servicers directly. Keep paying the old loans until they show a zero balance.
Repay through the servicer
SoFi says refinance loans are serviced by MOHELA. Set up autopay for the 0.25% discount and call the servicer early if you lose your job.
Is SoFi legit for student loans?
Yes. SoFi’s refinance and private student loans are originated by SoFi Bank, N.A., Member FDIC (NMLS #696891), a national bank owned by SoFi Technologies, a Nasdaq-listed company.
It has a regulatory history. In 2018, SoFi Lending Corp. settled FTC charges that its ads overstated how much borrowers saved by refinancing, and agreed to stop. The BBB rates SoFi A+ but it isn’t accredited, with 2,206 complaints in three years across all products. The CFPB database shows 319 student loan complaints about SoFi from October 2023 to October 2026.
SoFi student loan rates and fees
As listed in October 2026, SoFi refinances at 4.49% to 10.99% fixed or 5.74% to 10.99% variable. Both ranges include a 0.25% autopay discount and a 0.125% Member Rate discount for SoFi members, so without them your rate will be higher. Terms run 5 to 20 years, and the minimum is $5,000.
For new undergraduate loans, SoFi’s rate page shows fixed APRs from 2.99% and variable from 4.64%, up to 15.99%, as of October 13, 2026, with variable rates capped at 17.95%. SoFi charges no application, origination, late or insufficient funds fees, and there’s no prepayment penalty. Undergraduates can also get a one-time $100 (semester) or $250 (full year) Good Grades reward with a cumulative GPA of 3.0 or higher, paid into a SoFi checking account and taxable as income.
What you give up refinancing federal loans
SoFi’s own disclosure says that when you refinance federal loans you forfeit all federal benefits, including Public Service Loan Forgiveness, income-driven repayment and extended plans. There’s no way back: a SoFi loan can’t be turned into a federal loan again.
Before you apply, run the Loan Simulator on StudentAid.gov to compare federal plans, including the Repayment Assistance Plan (RAP). Refinancing usually makes the most sense for private loans, or for federal loans held by high earners with stable jobs who won’t use forgiveness.
What customers say about SoFi
Recurring themes across the review sites and complaint records listed above, not individual quotes.
Common praise
- Fast online application and clear rate quotes
- Lower rates than borrowers had on older private loans
- No origination or prepayment fees
- Extra member perks for people who also bank with SoFi
Common complaints
- Problems dealing with the loan servicer after the loan closes
- Payment processing and autopay errors
- Trouble repaying and limited hardship options
- Denials late in the application process
Who qualifies for SoFi student loans
To refinance, you must be the age of majority, a US citizen, permanent resident or eligible non-permanent resident, and employed, have other income, or have a job offer starting within 90 days. You must have attended or graduated from a degree-granting Title IV school; loans for a program you’re still in can’t be refinanced. Bar and residency loans aren’t eligible.
In-school borrowers must be enrolled at least half time in a bachelor’s, graduate or graduate certificate program at a participating school, and the loan isn’t available for associate degree programs. SoFi doesn’t publish a minimum credit score; it says its lowest rates go to the most creditworthy borrowers.
SoFi student loan complaints and how to avoid them
Of SoFi’s 319 student loan complaints to the CFPB from October 2023 to October 2026, 218 were about dealing with the lender or servicer, 47 about struggling to repay and 33 about getting a loan. Trustpilot reviews across all SoFi products are mostly positive, with complaints about payment processing, late denials and reaching support.
- Keep paying your old loans until each one shows a zero balance.
- Confirm autopay is active, so you keep the 0.25% discount.
- Note your servicer; SoFi says refinance loans are serviced by MOHELA, and Unemployment Protection requests go to MOHELA at 877-292-7470.
- Ask for hardship help before you miss a payment.
- If a problem isn’t fixed, file with the CFPB or the OCC’s HelpWithMyBank.gov.
Unemployment Protection and hardship options
If you lose your job through no fault of your own and your loan is in good standing, you can apply for SoFi’s Unemployment Protection Program. It places the loan in forbearance in three-month blocks, capped at 12 months over the life of the loan. Interest keeps accruing and is added to your balance, unless you make interest-only payments.
That’s far less than federal loans offer through income-driven repayment, so weigh it carefully if your income is uncertain.
Alternatives to SoFi
-
Federal repayment plans
Free and better if you have federal loans and may need income-driven payments (including RAP), PSLF or federal forbearance.
-
EarnestBetter if you want a published 650 credit minimum and the option to pick your exact monthly payment.
-
ELFIBetter for strong-credit borrowers with $10,000 or more who want a low starting rate.
-
Splash FinancialBetter if you want to compare several lenders with one soft-pull form.
SoFi reviews
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Frequently asked questions
Is SoFi legit for student loan refinancing?
Yes. SoFi's loans come from SoFi Bank, N.A., an FDIC-insured national bank. It settled FTC charges over savings claims in 2018, and has 319 CFPB student loan complaints in three years, mostly about servicing.
What are SoFi's student loan refinance rates?
As listed in October 2026, 4.49% to 10.99% fixed and 5.74% to 10.99% variable. Those include autopay and Member Rate discounts, so rates without them are higher.
Does SoFi charge fees on student loans?
No. SoFi says it charges no application, origination, late or insufficient funds fees, and there's no prepayment penalty.
What credit score do I need for SoFi student loans?
SoFi doesn't publish a minimum. It says the lowest rates go to the most creditworthy borrowers, and in-school borrowers with thin credit often need a cosigner.
Does checking my SoFi rate hurt my credit?
No. Checking rates is a soft pull that doesn't affect your score. Submitting a full application triggers a hard pull.
Should I refinance federal student loans with SoFi?
Only if you're sure you won't need PSLF, income-driven repayment or federal forbearance. SoFi's disclosure says you forfeit all federal benefits, and you can't reverse it.
Who services SoFi student loans?
SoFi says its refinance loans are serviced by MOHELA, and you apply for Unemployment Protection with MOHELA at 877-292-7470.
What happens if I lose my job with a SoFi loan?
You can apply for Unemployment Protection, which pauses payments in three-month blocks for up to 12 months total. Interest still accrues and is added to your balance.
Can I refinance parent PLUS loans with SoFi?
Yes. SoFi offers parent PLUS refinancing under the same terms as its other refinance loans, with the same loss of federal benefits.
What's the minimum SoFi will lend?
$5,000 to refinance and $1,000 for a new in-school loan.
Sources (16)
Facts on this page come from company websites, government agencies and regulators, checked on the dates shown. Editorial standards
- SoFi: Student loan refinancing and disclosures (accessed October 13, 2026)
- SoFi: Private student loans and Good Grades Rewards terms (accessed October 13, 2026)
- SoFi: Undergraduate student loan rates (as of October 13, 2026) (accessed October 13, 2026)
- SoFi: Eligibility criteria (accessed October 13, 2026)
- SoFi: What is SoFi's Unemployment Protection Program? (accessed October 13, 2026)
- CFPB: Consumer complaint database, SoFi Technologies student loans (Oct 13, 2023 to Oct 13, 2026) (accessed October 13, 2026)
- BBB: SoFi profile (accessed October 12, 2026)
- Trustpilot: SoFi reviews (accessed October 12, 2026)
- BestGuide research: SoFi refinance rate range as listed October 12, 2026, from SoFi's refinance page (accessed October 12, 2026)
- FTC: SoFi settles charges over false loan refinancing savings claims (2018) (accessed October 12, 2026)
- SoFi: Parent PLUS refinancing (accessed October 13, 2026)
- Earnest: Refinance student loans (accessed October 12, 2026)
- ELFI: Student loan refinancing (accessed October 12, 2026)
- Splash Financial: Student loan refinancing (accessed October 13, 2026)
- Federal Student Aid: Loan Simulator (accessed October 12, 2026)
- OCC: Customer Assistance Group (HelpWithMyBank.gov) (accessed October 12, 2026)
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