SoFi Loans & Banking — What to Know Before You Apply

A fixed-rate installment loan you can use to consolidate higher-interest debt, cover a major expense, or simplify multiple payments into one. Fixed terms mean you know exactly when you'll be done.

• ✓Fixed rate — no surprise payment changes
• ✓Common use: consolidating higher-interest credit card debt
• ✓One monthly payment, one payoff date
• ✓No prepayment penalty (verify current terms on SoFi's site)

Rates and terms set by SoFi — confirm current details before applying.

Already have student loans and want to explore refinancing? SoFi student loan refi lets you consolidate federal and/or private loans into a single loan with new terms. This is for borrowers who have graduated and are actively repaying.

• ✓Combine multiple student loans into one payment
• ✓May lower monthly payment or total cost — run your own math
• ✓Refinancing federal loans converts them to private (you lose federal protections)
• ✓Best suited for borrowers with stable income and strong credit

Refinancing federal loans means losing income-driven repayment options. Weigh this carefully.

For students currently enrolled who need additional funding beyond federal aid. Private student loans fill gaps when federal loans, grants, and scholarships don't fully cover your school costs. Always exhaust federal options first.

• ✓For currently enrolled students (not repayment)
• ✓Use only after maxing out federal aid and scholarships
• ✓Terms and rates depend on your credit (or a co-signer's)
• ✓Check SoFi's current eligibility requirements before applying

Exhaust all federal aid, grants, and scholarships before taking private loans.

Refinancing designed specifically for medical school borrowers. If you've completed medical school and are in residency, fellowship, or active practice, this product is worth exploring as an alternative to standard student loan refi.

• ✓Designed for MD, DO, DDS, DMD, and other health professionals
• ✓May include options for residents and fellows still in training
• ✓Separate from standard student loan refi — different terms may apply
• ✓Confirm current eligibility and terms on SoFi's official page

Available for qualifying healthcare professionals. Verify current terms at SoFi.

SoFi Money is a bank account that combines checking and savings features. It comes with a debit card, direct deposit support, and FDIC insurance through their banking partner. A referral link may include a welcome bonus — check current offer details.

• ✓Combines checking and savings in one account
• ✓FDIC insured through SoFi's banking partner
• ✓Debit card + direct deposit supported
• ✓Referral bonus may be available — see current terms at SoFi

A welcome bonus may be available via referral link. Verify current offer before opening.