SoFi Blog

In this installment of our Member Spotlight series, we profile Lauren Powell, an attorney from Madison, Wisconsin, and the $150,000 grand prize winner of our #WhyISoFi member contest. She beat out 1,500 other contestants, thanks to her personal entry and creative, relentless campaigning.

They’re back! We analyzed more than 60,000 student loan refinancing applications from January 2014 to September 2016 to tally SoFi’s “No BS” Return on Education 2017 MBA Rankings. MBA seekers should dive in, because this data matters more than a stunning campus or which successful CEO is an alumnus.

Grounded in verified income and debt—not just reported figures—our rankings represent an accurate and objective look at outcomes for those who are three years out of school. And that’s the whole point of getting your MBA, right? To graduate and earn a strong salary that isn’t eviscerated by student loan debt!

More Americans than ever are taking out student loans to invest in their futures. And that’s leading to…a huge amount of debt across the nation. $1.3 trillion in fact. This year alone, college grads who have their bachelor’s degrees face an average of $37,000 in student debt. And, as of July, over seven million borrowers are in default.

So how to solve it all? Let’s start at the beginning. Scroll through the visual timeline below to see the highlights and lowlights of the past 80 years in student loan history.

Rest assured, there is definitely a light at the end of the tunnel (er…timeline).

SoFi supports entrepreneurship and startups through our Entrepreneur Program, which provides members with networking, mentorship, and an opportunity to defer their student loans. Our #SoFiStartups series profiles members who participate in the program, highlights the ups and downs of their entrepreneurship journey, and offers advice for other aspiring entrepreneurs.

With a background in architecture and engineering, SoFi member Ben Silverman spent the early part of his career designing building facades that were highly energy efficient. But his interest in sustainability soon extended past structures and into another one of his passions—food.

Five years ago, running a startup wasn’t even close to being on Michael Zanetti’s mind. But life is unpredictable—and that’s exactly how he likes it. As a veteran with combat experience in the Army, Michael thrives on unpredictability. After all, in the Army, every mission requires a contingency plan.

After serving in Iraq in 2004 and 2005, and receiving a Bronze Star, Michael went on to serve in the National Guard. He transitioned from the military into civilian life in 2011, and earned an MBA in 2014 from Thunderbird School of Global Management. A year later, he partnered with his friend Brady Bagwan—also a former army officer—to co-found TradesFactor, a professional network for people in the skilled trades.