SoFi Blog

SoFi has been out on the road these past few weeks, visiting universities around the country and spending time with student loan borrowers.  We wanted to learn more about these soon-to-be graduates and their challenges with education debt, so that we can better serve them with our products.

One thing we discovered is that they wanted to learn a lot more about us, too.  Here were some of the most frequently asked questions – and answers – from our spring tour.

When was the last time you revisited your student loan repayment strategy?  If you’re like most borrowers, it’s probably been awhile.  That monthly payment may be an irksome reminder of the debt you’re chipping away at, but otherwise you try to avoid thinking about your loans on a regular basis.  Because – let’s face it – thinking about student loans is kind of a bummer.

The problem with this “out of sight, out of mind” mentality is that it can end up costing you more interest than is necessary over the long run – which is bad for your bottom line.  Luckily, there are a few interest-saving strategies that can make a big difference without requiring a lot of time or effort.  We shared three of our favorite strategies over on the Student Loan Hero blog this week – check out the full post here!

Spring has sprung – at least officially – and with it the urge to open all the windows, break out the broom and clean house.  But why stop there?  Your finances can also benefit from a little spring cleaning, and it’s something you can do even if it still feels like winter outside.

As a busy young professional, it can be tough to closely monitor your money situation on a daily basis.  But if you’re willing to spend a few of these extra daylight hours getting organized, you can save yourself a lot of time, stress and even cold hard cash in the long run.  Here are six essential and effective ways to do it:

April 15^th is a few weeks away; have you filed your tax return yet?

If the answer is yes, you’re not alone.  The IRS reported last week that it has already received about a third of the individual tax returns that it expects to process this year.  They’ve also issued more than 40 million refunds so far, at an average amount of $3155.

Investing your tax return instead of spending it

If you’re one of the happy refundees, that money may be burning a hole in your bank account as we speak.  Before you squander it on something you won’t remember by tax time next year, consider using it for something that can actually help you save or even earn money in the long run.  Here are four ideas:

Student loan refinancing can have a huge impact on a borrower’s bottom line, saving you thousands or sometimes tens of thousands of dollars in interest over the life of your loan(s).  So how do you know if this option is right for you?  We’ve created this handy guide to illustrate the common characteristics of eligible borrowers, including four examples based on the profiles and savings of some of our real borrowers.

Want to know if student loan refinancing is right for you?  Read on to find out!