SoFi offers private student loans for undergraduates, graduate students, and parents, with rates ranging from 2.99% to 15.99% for fixed rates and 4.64% to 15.99% for variable rates as of November 4, 2026. Borrowers can take out $1,000 to the school-certified total cost of attendance, with loan terms spanning five to 20 years.
The lender charges no origination fees, late fees, or prepayment penalties. SoFi members receive a 0.25% interest rate discount for autopay, plus access to financial planning advice, estate planning, and member networking events. A returning scholar discount and cash bonus for borrowers with good grades are also available.
To qualify, you must be enrolled at least half-time in a four-year degree program or graduate program. SoFi does not offer loans for associate degrees. The lender reported a weighted average FICO score of 769 for originated student loans in 2025, which falls in the "very good" range according to Experian. Borrowers with lower credit scores typically need a cosigner. The minimum loan amount is $1,000.
SoFi offers four in-school repayment options for most borrowers. Deferred repayment lets you skip payments until six months after graduation. Interest-only requires you to pay only accrued interest during school. Partial repayment charges a flat $25 monthly payment. Immediate repayment requires full principal and interest payments while enrolled, but costs the least overall.
Cosigners can be released from loans after borrowers make 12 consecutive on-time monthly payments. SoFi received regulatory approval as a bank holding company in January 2022 and is subject to FDIC regulations and Consumer Financial Protection Bureau supervision.