SoFi Blog

If there’s anything clear about student loans, it’s that the terminology associated with student loans is often far from clear.  Take the words “consolidate” and “refinance,” for example.  Both of these fall into the category of “things you can potentially do with your student loans” and as a result they’re often used interchangeably.  But the terms can have different implications based on the context in which they’re being used.

So here’s the scoop:

Whether you’re looking for a new job, angling for a promotion or just seeking more responsibility in your current role, most people would agree that summer is not the best time to accomplish big career moves.   People are out on vacation, attitudes are relaxed and things move slowly, making it difficult to schedule interviews and get exposure at work.

The “post-grad plateau”: It’s those first few years after graduate or professional school when the future looks bright but you haven’t yet hit your financial stride.  You’ve secured higher income potential thanks to your advanced degree, but student loans and other debt from school have come due – and those payments can swallow a paycheck whole.

Jennifer Beall, Founder & CEO of Tot Squad, does not have the average startup story.  As she puts it, “Everyone else wanted to start the next Facebook, while I was working on cleaning baby poop off of car seats.”  But Jennifer, Kellogg MBA ’10 and Duke ’05, and her business are about more than just stroller and car seat cleaning/installation.   She and Tot Squad are on a mission to make moms happier, kids safer and the world a better place.

When the government lowered federal loan rates last year, we stopped lending to college students and refocused our business on refinancing graduates.  The combination of lower loan rates and guaranteed government protections made it hard for us to justify choosing a SoFi loan while in school.  Our advice was to graduate, get a job and then consider SoFi.  Over 8,500 of you have done that, refinancing over $700 million in loans with us, saving money and gaining benefits like our unemployment protection and entrepreneur program.