New borrowers who refinance a student loan or take out a personal loan with SoFi will receive a $100 bonus.
SoFi is the “anti-bank”. An up and coming non-bank lender that connects students and recent graduates with alumni and institutional investors via school specific student loan funds to refinance student loans at lower rates than traditional options can provide. It works by the alumni and institutional investors receiving a financial return, and the borrowers getting rates that are lower than those provided by the federal government.
We have researched hundreds of loan companies and SoFi is one of our favorites with some of the lowest rates. They have strict credit criteria and target people with good jobs, good income, a proven ability to manage a budget and good credit history. This is something that can save you money.
Get $100 to Refinance Your Student Loan with SoFi.
In order to earn the $100 bonus, you must sign up for SoFi through this link, proceed all the way through the funding of your loan, and become a SoFi Refinance Community Member. You’ll receive the $100 bonus after your loan is funded. SoFi will refinance both private and federal student loans. However, if you refinance a federal loan you will give up all federal protections and programs, including income-based repayment programs. SoFi is unique among private lenders because it offer unemployment insurance, free of charge. If you lose your job for no fault of your own they will suspend your monthly payments until you find a new job. You can do this for up to 12 months. The interest that accrues during this period would be added to the loan.
In addition, SoFi offers an entrepreneur program to help graduates who dream of owning a business. Loans can be deferred for six months so borrowers can focus on growing their businesses. SoFi provides access to networking events, mentors, and investors.
To be eligible to refinance your student loans with SoFi, you need to meet the following requirements:
You must be a U.S. citizen or permanent resident 18 years or older
You need to have a 4-year undergraduate or graduate degree from a Title IV accredited institution
You have to be employed or have an offer of employment starting in 90 days from the time you apply
You need to be in good standing on your current student loans
You should have a good, stable employment history
A strong monthly cash flow is a must
An excellent FICO score will improve your chances of being approved
The application process is straightforward and SoFi’s pre-approval should take you less than 15 minutes to complete. You likely won’t need most of the documents listed below until you’re ready to move forward with a loan, but they’re good to have on hand while you’re shopping around.
What you need to Apply with Sofi:
Employment information – salary, offer of employment, length of employment
Most recent pay stubs as proof of income and employment for those currently employed
Diploma or transcript in the event SoFi needs to verify your graduation
TIP: SoFi accepts screenshots from your PC and pictures taken from a phone for those who do not have access to a scanner.
SoFi also provides services to help you get a personal loan with lower rates without involving a banker. You can also get $100 for a Personal Loan with SoFi when you sign up for SoFi through this link and proceed all the way through the funding of your loan.
SoFi is awesome! Entire process was easy, no hidden fees, now my FICO is 812 after consolidating all my credit card debt with SoFi. I highly recommend them.
Earn Money with SoFi
You can share your SoFi referral link with your friends to earn a $100 bonus for each friend who uses your link to refinance their student loans with SoFi.