The health and well-being of our members remain our top concern amid COVID-19. Our call centers are fully staffed by our associates who understand that many are still trying to navigate through trying circumstances. If you are experiencing difficulty making your payments due to impacts from COVID-19, please login or call us at 877.292.7470 so we can discuss what payment assistance or deferment options may be available to you.
As a SoFi Member, you get access to exclusive Member Benefits free of charge including:
Career Tools & Coaching: Work one-on-one with an experienced career coach to identify what success and financial independence mean to you as well as get access to tools like a resume reviewer and strengths assessment
Credentialed SoFi Financial Planners: Financial planners can help you navigate your financial situation and can advise you based on your unique needs
Please know that you can also access your accounts 24/7 on our website, mobile app, or automated voice response system.
President Trump recently announced that interest will be waived for all student loans held by Federal Government Agencies. Unfortunately, this does not apply to SoFi private educational loans because they are not held by a Federal Government Agency.
The LIBOR rate for August 2020 is 0.18%. With any change to the LIBOR rate, variable rate loans will re-amortize and a repayment schedule will be provided that will include your new monthly payment amount, interest rate (margin plus LIBOR), and the effective date of your new monthly payment amount.
Note: The repayment schedule interest rate does not reflect the Auto Pay discount, if applicable to your loan program, as payments are not calculated with the discounted interest rate.
For SoFi customers experiencing financial hardship, SoFi may offer Repayment Options to temporarily postpone your monthly payment.