SoFi Blog

The member’s experience below is not a typical member representation. While her story is extraordinary and inspirational, not all members should expect the same results.

What do a simple question, a tropical rainforest, and a shiny purple catsuit have in common? For SoFi member Caitlin Boston, they’re all part of the story that helped her pay off more than $222,000 in student loan debt.

This unconventional tale begins back in 2009, after Boston had earned two bachelor’s degrees in anthropology and American studies from the University of Maryland and a master’s degree in social psychology from Cambridge.

Like many other recent graduates, Boston knew her student loan payments would start coming due. But what she didn’t know was just how high those numbers would be.

In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more. Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would be beneficial to our members, and will make sure to call it out when we do. Our reporting otherwise is for informational purposes only, and shouldn’t be construed as an endorsement.

If you’re like most Americans, you own a car. What’s more, you use that car on a day-to-day basis to get to work, among other errands.

In fact, although we all know that public transit carries a lower ecological impact, car ownership is actually on the rise in America–which spells trouble for our warming planet. Indeed, transportation makes up the single largest source of greenhouse gas emissions in the United States, contributing almost a third of the carbon dioxide, methane, and other gases that are warming our environment.

That’s part of the reason four major, international automakers have struck a deal with the state of California to increase the fuel-efficiency of their fleets over the coming years, agreeing to produce vehicles that see nearly 50 miles per gallon by model year 2026.

The pact comes as a response to White House plans to freeze the more stringent nationwide fuel-efficiency requirements set in motion under the Obama administration, and was also, according to a joint statement, driven by the desire for predictability in manufacturing and lowering consumer costs.

Here’s what you need to know about the new agreement (and California’s greater commitment to environmental stewardship)–including what it means for you as a consumer–and how to find cheaper, greener ways to travel as a whole.

College graduation can be a wild time. You go from juggling your last term papers and final exams (and graduation parties) to managing a career, often in mere months.

This period may be one of the most glorious—and confusing—transitions in your life. There is so much to learn about being an adult, especially in regards to managing your money. And learning this stuff is not an overnight process.

For many college grads, a good first step to successful money management is understanding student loans—including a loan’s grace period. If you have federal student loans, you may even be in your student loan grace period now.

For those of you that graduated in the spring, student loan grace periods may soon be coming to an end. It’s important to start there: What is a student loan grace period? And what happens when that student loan grace period ends?

Here are some tips for managing your student loans for the first time, including ideas on how to make payments once your student loan grace period is over.

With 59% of employees claiming money matters as their main cause of stress, this year’s trends in employee benefits seem to be focused around one particular concept—financial wellness.

According to the CFPB, industry surveys define financial wellness programs as “those that assess and support an employee’s ‘complete financial picture’ or the ‘overall financial health of an individual.’” To shed some light on this topic, we talked to SoFi’s own senior benefits manager, Debbie Westover.

Some of Debbie’s responsibilities include developing, designing, and administering employee benefit programs—making her a great resource on ways employers can satisfy the benefit desires of employees while still balancing their own financial and strategic priorities.

Here’s just some of what she had to say about helping employees reach their financial goals.

In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more.
Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would also support our members (like now!), but we will be transparent about it when we do. Our reporting otherwise is for informational purposes only, and shouldn’t be construed as an endorsement.

On September 25, 2019, SoFi headed to Washington DC as part of the DebtFreeTaxFree Coalition, where like-minded organizations expressed support for House of Representatives bill, H.R. 1043 / Senate bill, S. 460 . Because these bills are so similar, support was being given to either/or, with SoFi’s general counsel Rob Lavet serving as our Capitol Hill representative.

Organizations met with 21 Congressional offices that day, meeting seven Congress members directly, to share stories about how this legislation could positively impact people in the United States who have student loan debt.

On that day, three more members of the House added their support and signatures to the H.R. bill—with more signing after that day—bringing the total number of signatures to 189 on the House bill and 46 on the Senate bill, making it a total of 235 members of Congress who support one of these bills.