And refinancing with a lender like So Fi can have great benefits of its own.
In addition to the potential cost savings (an average of $11,783 per borrower*), our members enjoy access to valuable career mentoring and job search assistance, as well as support for entrepreneurial goals. Give us a shout – we’ll walk you through the details.
*Savings calculation is based on So Fi borrowers who refinanced between 5/21/14 and 7/2/14.
Prior to refinancing, these borrowers had on average a $71,000 loan balance, a rate of 7.07% and a lifetime payment of $99,239, assuming the standard Direct Loan term.
Most private lenders will only refinance other private loans, but So Fi will refinance both private and federal loans. Because confusing these terms can lead to not knowing your student loan options, which can lead to leaving money on the table.