I am wondering if sofi is good/trusting place to refinance my loan. I am under income based repayment with salliemae( navient now). I heard sofi can reduce my interest. Any comments are appreciated
I refinanced with SoFi about 6 months ago...all I can say is I wish I had done it much sooner. They're legit and quite honestly it's a brilliant idea. Almost every other means of loan borrowing you're rewarded for having great credit, steady job with high income, etc...except student loans. SoFi has gone after only the best borrowers of Sallie Mae and the like and therefore take on very little risk of these borrowers not being able to pay. The investors that fund the loans get a return on their money and you get a much lower interest rate.
Who cares about IBR or any type of loan forgiveness??? If you're a pharmacist you make too much money for that and anyone who thinks otherwise is crazy. The government is never going to help someone who makes well over 100k a year. I've actually even referred a couple other people who qualified and made the switch, which SoFi will pay you a referral bonus. I bought my house at the right time with rock bottom mortgage rates, otherwise, I'd very much consider using SoFi for that as well seeing as how they do mortgages in many states now. Anyways, best of luck...if you have any specific questions feel free to PM me or call them, their customer service is very good.
What kind of rates was Sofi offering you?I spoke with Sofi but they could not match First Republic interest rate. I just refinanced student loans with First Republic Bank: fixed interest rate = 3.25%, 7 years, no fees, great customer service.
Great deal if you have a bank in your area.
What kind of rates was Sofi offering you?
Sure, maybe...but why take the chance? Heck, I bet I pay them off before that ever goes through.You don't think Hilary Clinton could match those rates next year?
Sofi was offering 4.25% for 5 years. First republic bank gave me 3.25% fixed for 7 years. Really happy with the savings. My interest rate with auto debit before was 6.55%.