SoFi Blog

IMPORTANT: Refinancing federal student loans with a private lender, including SoFi, would mean forfeiting access to federal programs like the FREED Veterans Act, income-driven repayment plans, and other federal loan forgiveness or loan cancellation options.

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.

Veterans learn a lot when they volunteer to serve in a branch of the U.S. Armed Forces. They can learn teamwork, loyalty, and discipline. Veterans might learn skills from how to run a nuclear submarine to cooking chow in a theater of war to dressing a wound in the field. And they probably learn how to make a plan and stick to it.

But what happens if they become disabled during their service? What happens if their best laid plans are thrown to the wind and they’re unable to fulfill student loan obligations as the result of an injury in the line of duty?

As of Wednesday, August 21, 2019, these vets, those with student loan debt struggling with disabilities as a result of their service, might be able to breathe a little easier.

Congratulations, you did it! You walked across the stage, got your diploma, and waded the treacherous waters of meddlesome job questions from friends, family, former professors, and even your pet iguana, Izzy. Now you’ve done what once seemed impossible: You’ve landed a job offer!

When landing your dream job—or any job—it’s easy to run straight to the champagne aisle. But before you pop the bottle and buy yourself sensible slacks, you’ll want to think about your salary.

The term “entry-level job” might bring to mind dingy cubicles, fetching coffee, long hours, or a small paycheck. However, depending on your degree and qualifications, this may not be the case.

With the right diploma and experience, as well as a stellar job search and interview, you could catch one of these coveted roles. A promising role right out the gate could mean financial stability, and paying off those pesky student loans sooner.

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.

Student loan forgiveness has become (finally!) a hot topic in our national conversation, but it looks like the complex system that services these loans to begin with is in very sad shape. (Yep, another broken cog in the bureaucracy wheel.)

In fact, the shape is so sad that it’s actually violating federal law and even the Constitution. It’s looking like before any progress can be made on student loan forgiveness, the system has to first be straightened out so it can fly right.

Hopefully, this fix can be hammered out with the help of our justice system. On July 11, 2019, the American Federation of Teachers filed a lawsuit in federal court asking the U.S. Department of Education to fix the Public Service Loan Forgiveness Program in order to meet legal standards.

A second request was included: have the department create an appeals process for those who feel they were treated unjustly.

When you first got to college, becoming an RA may not have been on the top of your to-do list. You probably imagined yourself heading out to fun parties with your friends on a Saturday night, not doing rounds in the dorm.

Now that you’re a full-time college student, the idea of becoming a resident advisor seems slightly more appealing. Sure, you’d have to deal with some negatives, but the job does come with its perks. Before you jump into life as an RA, it’s a good idea to think through some of the benefits and downsides to determine if it’s the right decision for you. Here are a few common starting points.