What does the Fed rate cut mean for your student loans?

Ease the burden of student debt by refinancing with SoFi

Are you struggling to keep up with your student loan payments? After months of speculation, the Fed approved a larger-than-normal rate cut, lowering its benchmark rate by .50 percentage points. That makes now a good time to look for a better deal by refinancing your student loans.

Benefits of refinancing with SoFi

Lower monthly payments: Reduce your financial burden and free up cash for other goals.
Flexible terms: Choose a repayment plan that fits your budget.
Quick and easy process: See your personalized rate in minutes, with no impact on your credit score.

How SoFi can help

As one of the first companies in the student loan refinance space, SoFi has years of experience helping borrowers achieve their financial goals.

Consolidate multiple loans: Simplify your payments into a single monthly installment.
Reduce interest rate: Potentially save thousands of dollars over the life of your loan.
Extend your repayment term: Lower your monthly payments by increasing the overall time to pay off the loan.

Ready to take the next step?

See your personalized rate in just 2 minutes and learn how refinancing with SoFi can help you move toward a debt-free future.

Click here to learn more about SoFi and view rates today.

Sincerely,
Mike Ayers
Executive Editor

*SoFi’s disclosures: Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS PROSPECTIVELY BASED ON MARKET CONDITIONS AND BORROWER ELIGIBILITY. Your existing student loan(s) must total a minimum of $5,000 to be eligible for refinancing. Additional terms and conditions may apply. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., have graduated with an associate degree or higher from an eligible Title-IV-accredited college or graduate program, and meet SoFi’s pre-established underwriting requirements, including verification of sufficient income to support your ability to repay; see SoFi.com/eligibility. Lowest rates reserved for the most creditworthy borrowers. You may pay more interest over the life of the loan if you refinance with an extended term.

SoFi refinance loans are private student loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Information current as of 10/4/24 and subject to change. SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).