SoFi review for personal and student loans

November 30, 2016

I am tired of living the typical American life, holding lots of debt and debt payments, and living tight between paychecks. This year I have been attacking my situation and there is light at the end of the tunnel.

To better your financial situation one of the key ideas is to increase your income and/or decrease your liabilities (expenses/bills). I have aggressively trimmed out liabilities, down to just a few bills and my loans, primarily student loans. I do not have much debt, but I do have a lot of little student loans out. Lots of little loans means lots of payments. Multiple payments really add up. I was spending $1,200+ per month combined on all my loans. It hurt.

Enter SoFi. SoFi is a modern financing institution that is absolutely amazing. SoFi can provide mortgages, and student loan refinancing. Their application process is phenomenal. You provide some very basic details about your debt amount and SoFi will give you an instant pre-approval. The pre-approval does not impact your credit score. On the pre-approval page you can play with the numbers, more or less debt, payment terms, interest rates, etc until you reach a payment that you are happy with. Submitting a real application from there is a breeze.

From Start to finish the SoFi process is incredibly open and easy. No other financial institution I have worked with has such a nice process. From start to finish you do everything on their website. Periodically SoFi will call you. I spoke with 7 different people and all were helpful an informed. The loan terms they offer are amazing!

I was able to combine all my outstanding loans into a single payment and cut my monthly payment in half!

If you have several loans I encourage you to check out SoFi and see if they can give you a better rate and single payment. I bet they can.

Want to get a free $100 kickback with your new loan? Use my referral links below

Student Loans $100 referral link

Personal Loans $100 referral link

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