The first step is to fill out an application with your carrier of choice. You’ll want to be well versed in whole and term, whether a medical exam is required, contestability, and the right amount of insurance needed.
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Sector investing simply refers to targeted investing in a particular market sector or industry. Finance, real estate, utilities, and retail are a few examples of common sectors.
Many institutional investors use a sector investing strategy, but it’s one that individual investors can use as well, either by selecting individual stocks according to a theme or to describe different exchange-traded funds (ETFs) or mutual funds that focus their investments on a single sector.
Investors who want exposure to the following sectors can either invest directly in companies or assets, or invest in ETFs or mutual funds composed of securities within that sector.
This section focuses on companies that contribute to health care needs and related endeavors.These may include hospitals and related real estate, health insurance companies, pharmaceutical companies, companies that make medical devices, and more.
The precious metals sector is historically seen as a safe haven asset that investors flock to in times of crisis. Even outside of a crisis, companies involved in the exploration of new metal deposits and mining of those deposits can sometimes provide significant returns.
Investors may be keen to find ways to invest in gold, but other examples include mining companies, direct investments in commodities, or in funds ETFs that purchase them.
This sector includes real estate developers and property owners, as well as mortgage-backed securities.
Real estate investors may also choose to put money into real estate investment trusts (REITs), which use investor money to acquire income-producing properties like data centers, office builds, shopping malls, or apartment buildings. One attractive feature of REITs is that they pay out a large portion of their income in the form of dividends to investors.
Utility investing focuses on companies that provide utilities like phone and internet service, electricity, or natural gas. Utilities are considered to be a defensive or safe haven sector, since they tend to do well during a recession because people almost always need the services they provide.
Technology companies have become an increasingly large part of the economy as more organizations continue to undergo digital transformation. Investments in the tech sector might include streaming video providers, computer companies, or social media companies.
This sector focuses on the companies that make or sell items that people need to buy, such as supermarkets, food producers, and convenience stores.
This sector includes companies that make or sell goods that people like to purchase but don’t need, such as e-commerce companies, home improvement, apparel, or sporting goods retailers. This sector tends to perform well during times of economic expansion and to lag during a recession.
This sector focuses on companies that produce or supply energy. That may include oil drillers, coal miners, and pipeline operators. Some energy investors might focus only on stocks in the renewable energy space, such as wind farms or solar panel producers.
Recommended: Investing in Low Carbon Stocks: What to Know
Some of the benefits involved in sector investing include diversification and the ability to invest with market cycles.
Investing in multiple sectors of the economy is one method of attaining diversification within a portfolio, which involves investing in many different types of stocks. If some sectors produce outsize gains, they can help offset lower returns in other sectors.
One of the more common sector investing strategies is sector rotation, meaning that investors change their allocation to certain sectors depending on the economic cycle. For example, they might invest more heavily in the utility sector during a recession, when utilities tend to outperform, and move those funds into consumer discretionary goods during a recovery.
While sector investing may prove beneficial, it also has its potential drawbacks. Some of the same features that make this strategy profitable or appealing can also make it risky.
Things that impact one sector as a whole tend to affect most or all companies within that sector. As a result, a single relevant event or news headline could have dramatic consequences for those heavily invested. This could result in large moves upward or downward.
For example, imagine being heavily invested in the oil and natural gas sector. Suddenly, the demand for energy plummets because of restrictions on travel, decreased consumer spending, and overall lack of demand for petroleum products. This would likely have a dramatic effect on nearly all companies in the oil and gas sector, leading to potentially large losses for investors with a large exposure to this sector.
On the other hand, if markets became optimistic that a future event would restore demand, or something happened to decrease supply, then volatility could swing the other way pushing up the value of investments.
Recommended: How Investors Can Manage Stock Volatility
Concentration risk is a form of investment risk in which investors over-allocate a portion of their portfolio to a single sector and lose the downside protection that may come with a properly diversified portfolio, which spreads investments across different types of assets to minimize risk.
It is notoriously difficult for individual investors to sustainably engage in stock market timing, in which they can precisely determine the most optimal time to buy and sell a specific investment.
Investing in sector-focused ETFs is one of the easiest and most common ways to invest in sectors. Sector-specific exchange-traded funds hold dozens or hundreds of stocks within a specific sector, allowing investors to get exposure to the entire sector without having to make investments in individual companies.
Choosing an ETF takes less time and research than choosing many individual stocks. While ETFs may not experience the same level of gains as individual stocks, they also have less volatility.
Sector investing involves making investments in specific parts, segments, or sectors of the economy. There can be pros and cons to doing so, and investors should consider all factors or even speak with a financial professional before making a decision.
To determine the best investing strategy for you, you’ll need to consider your long-term goals, your risk tolerance, financial objectives, and the amount of time and effort you want to spend choosing investments.
Ready to invest in your goals? It’s easy to get started when you open an investment account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), mutual funds, alternative funds, and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).
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SoFi Invest® INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
SoFi Invest encompasses two distinct companies, with various products and services offered to investors as described below:
Individual customer accounts may be subject to the terms applicable to one or more of these platforms.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA (www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms described above please visit SoFi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Exchange Traded Funds (ETFs): Investors should carefully consider the information contained in the prospectus, which contains the Fund’s investment objectives, risks, charges, expenses, and other relevant information. You may obtain a prospectus from the Fund company’s website or by email customer service at https://sofi.app.link/investchat. Please read the prospectus carefully prior to investing.
Shares of ETFs must be bought and sold at market price, which can vary significantly from the Fund’s net asset value (NAV). Investment returns are subject to market volatility and shares may be worth more or less their original value when redeemed. The diversification of an ETF will not protect against loss. An ETF may not achieve its stated investment objective. Rebalancing and other activities within the fund may be subject to tax consequences.
Claw Promotion: Customer must fund their Active Invest account with at least $25 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
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FOMO, or, “fear of missing out” when trading, applies to the anxiety of potentially passing up a profitable investment that an investor may experience. “FOMO” is a term commonly used to describe other anxiety-inducing situations as well. For investors who visualize a scenario where a stock rises sharply in value but goes unpurchased, the fear of missing out may cause them to make investing decisions that aren’t fully thought-through or in line with their investing strategy.
Making emotional, knee-jerk decisions when investing can derail your overall strategy, too. That’s why it can be important to try and avoid it the best you can.
FOMO trading happens when an investor allows their fear of missing out to drive their investing decisions — to the exclusion of other insights and instincts. This can trigger errors, creating problems in an otherwise well-managed investment portfolio.
For example, an impatient trader may rush to buy a hot stock even if it doesn’t fit into their investment strategy, or if the stock risks could jeopardize the portfolio’s stability.
Yet, buying any investment without proper research, risk assessment, or a planned exit strategy if the stock goes down, is the opposite of effective stock market investing.
Sociologists use the term “behavioral finance” to describe the overall need to abandon rational thought and follow a herd to mitigate any FOMO anxieties. With behavioral finance, emotional and sociological influences replace scrutiny and logical thinking, which can significantly alter investment outcomes.
The fact that so many stock market rumors are stoked on social media, and that there are so many investors who rely on social media for investment ideas, only adds more pressure to give in to your anxieties, and buy a stock or other investment that may not necessarily fit in with your investing strategy.
How can an investor fight off FOMO tendencies and remain a stable and steadfast investor? It’s not easy given the pressure to trade frequently these days, but these tips may help.
Investors who trade according to a well-thought out plan or investing strategy — and not with a FOMO mindset — are likely to be more prepared for better investment outcomes. By doing research, learning how to value a stock, and establishing your own tolerance for risk, you may be less likely to make rash or emotional decisions regarding your investments.
Many impulse trades come at a time when markets move fast. When investing in a volatile market, it’s especially important to trade with strategy in mind, rather than with your feelings.
A single stock market trade rarely makes or breaks an investment portfolio. If you do hear about a can’t-miss stock and are anxious to pull the trigger and buy that stock, it can help to keep it in perspective: there’s always another market opportunity down the road. In other words, keep the big picture in mind.
The old adage of “never play with money you can’t afford to lose” is very much in play with FOMO investing. It’s never wise to chase a stock with large amounts of money your portfolio can’t afford to be without. In nearly all cases, if an investment’s risk is too high, and the potential impact to your portfolio is too acute, then it may be best to wait things out.
Social media captures a great deal of attention from market investors. But these platforms may be loaded with touts, short-sellers, penny stock promoters, and other investment shills who have their best interest in mind — not yours. As a rule, social media touts always talk up their gains but rarely mention their losses. Remember that maxim when you’re under the temptation of a FOMO trade.
FOMO trading is a type of behavioral finance — in which an investor lets emotions like the fear of missing out replace logical, strategic thinking. FOMO trading often happens on a whim without much thought, which can significantly impact investment outcomes.That’s why it’s important to have a cogent strategy in place, and to keep your goals in mind when making investing decisions.
While it can be difficult to completely remove your emotions from your investing activities, keeping your strategy top of mind can help direct your decision-making process. Again: It’s not easy, but with some practice and experience in the markets, learning to skip investing trends might become a bit easier.
Ready to invest in your goals? It’s easy to get started when you open an investment account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), mutual funds, alternative funds, and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).
SoFi Invest® INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
SoFi Invest encompasses two distinct companies, with various products and services offered to investors as described below:
Individual customer accounts may be subject to the terms applicable to one or more of these platforms.
1) Automated Investing and advisory services are provided by SoFi Wealth LLC, an SEC-registered investment adviser (“SoFi Wealth“). Brokerage services are provided to SoFi Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services are provided by SoFi Securities LLC, Member FINRA (www.finra.org)/SIPC(www.sipc.org). Clearing and custody of all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms described above please visit SoFi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth, nor the Registered Representatives of SoFi Securities are compensated for the sale of any product or service sold through any SoFi Invest platform.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Investment Risk: Diversification can help reduce some investment risk. It cannot guarantee profit, or fully protect in a down market.
Claw Promotion: Customer must fund their Active Invest account with at least $25 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
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Upon graduating, the average student loan borrower has just over $37,000 in student loan debt. Meanwhile, the average graduate student holds significantly more — sometimes up to hundreds of thousands of dollars.
If you’re tired of paying hundreds or even thousands of dollars toward student loan debt, there’s some good news: You can apply for student loan refinancing. Refinancing through a private lender could give you the opportunity to lower the interest rates on your loans and save money over the life of the loan. However, you do lose access to federal benefits, so make sure you fully understand how refinancing works before moving forward.
Student loan refinancing is the process of paying off your existing loan loans with a new loan. Ideally, the new loan would have a better interest rate or better terms. For example, the borrower may want to switch from a fixed rate to a variable rate or extend the term in order to lower their monthly payments. (Note: You may pay more interest over the life of the loan if you refinance with an extended term.)
To understand why a borrower might refinance, it helps to first understand the major parts of a student loan. Every student loan is comprised of the following variables:
1. The value of the loan (the “principal”)
2. The interest rate on the loan
3. The repayment period (also known as the loan’s term)
When a borrower refinances their student loan(s), they are typically looking to change either the second or third list item, or both. Keep in mind that refinancing means forfeiting federal loan benefits such as income-based repayment plans, deferment, and forbearance.
If you’re considering refinancing your student loans, you’ll want to compare lenders and select the loan with the best interest rate and term. Once you choose a lender, you’ll apply for the loan and start making payments to the new lender. Here’s a more in-depth look at how to refinance your student loans in seven steps.
The first question you need to ask yourself is, “Should I refinance my student loans?” To answer the question, you need to understand more about student loans and the specific types of student loans you have. Student loans come in two main varieties: federal and private.
Federal student loans are backed by the U.S. government’s Department of Education. These are the loans that borrowers apply for using the Free Application for Federal Student Aid (FAFSA®) form. Private loans, on the other hand, are obtained through a bank, credit union, or other lender, and they are not backed by the U.S. government.
Determine which types of loans you have and which ones you’re wanting to refinance. Federal student loans, for example, can be consolidated into one loan with one monthly payment, known as a Direct Consolidation Loan. If you’re planning on using federal benefits, this option could be the best. If you want to refinance private loans only or federal and private loans, a traditional student loan refinance is what you’ll need. Keep in mind, though, that you will lose access to federal benefits when refinancing with a private lender.
Recommended: Consolidate vs Refinance Student Loans
Always be sure to ask whether a student loan refinancing company can refinance the types of loans that you currently have. Next, use that information to ask yourself the following questions:
Because refinancing is the process of paying off your existing loans with a new, private loan, you will lose any access to the programs offered by federal loan programs, such as student loan forgiveness or income-driven repayment.
If you are currently working towards student loan forgiveness, you’ll probably want to think twice before refinancing your federal student loans.
Flexible repayment plans, such as one of the income-driven repayment plans, are another offering by the federal government on federal student loans. Private loans don’t generally offer any such programs. If you need to keep your monthly payments low and have exclusively federal student loans, refinancing might not be right for you. Refinancing with a private lender forfeits your access to the government’s income-based repayment plans.
Both forbearance and deferment allow the borrower to suspend their payments for a period of time and for a variety of reasons, such as economic hardship or military service. Student loan forbearance and deferment are for federal student loans only. If you think you may need this benefit in the future, it may not be best to refinance with a private lender.
When you refinance your student loans, your lender will base your interest rate off of your credit score, credit profile, debt-to-income ratio, payment history, and other financial data. If your credit score is less than ideal, you may not qualify for a lower interest rate, which could defeat the purpose of refinancing. It’s best to be aware of where you stand credit-wise before moving forward with a refinance.
If you decide that refinancing is right for you, it’s a good idea to shop around at different lenders to check their rates. Before you do that, you’ll want to have your basic personal financial information ready. In general, potential lenders need some combination of the following information to give you a quote:
• Name
• Address
• University
• Degree
• Total student loan debt
• Debt-to-income ratio
• Credit score estimate
The information a borrower needs to provide varies from lender to lender, but this is the basic idea.
Because student loan refinancing companies set their own rates and terms, it is important to do some shopping around. Not only will you want to get rate quotes, but you may also want to ask questions, such as:
• Are there other fees, such as origination fees?
• Is there a prepayment penalty if I want to pay my loan off early?
• Can the lender refinance both federal and private loans?
• Is there a forbearance program if I am laid off from my job?
• How do I access customer service?
• What is the loan application timeline?
If a company interests you, you can submit the information you gathered from Step 2. With this information, the lender will likely run a soft credit check. This should not affect your credit score, but make sure the lender guarantees it won’t.
If you meet a lender’s eligibility requirements, they’ll generally provide you with multiple offers, including offers with different term lengths and interest rates (both fixed and variable rates).
After you’ve had the chance to review both the loan offers and the lenders themselves, it’s time to decide.
While many borrowers gravitate toward the loan with the lowest interest rate, it is worth remembering that the lowest rate might not amount to the lowest amount of total interest paid on a loan.
The longer the loan’s term, the more interest a borrower will pay. For example, if you have a loan term of 10 years, you’ll have to pay off the entire loan balance plus the interest that was accrued over the 10 years. But, if you extend your loan term 20 years, that means 10 more years of interest accruing on your loan.
Also, a loan that charges an origination fee could end up costing more than a loan with a higher rate of interest that does not charge an origination fee. Often, an origination fee is added to the balance of the loan, with the interest rate calculated on top of this new figure.
Once you’ve chosen a lender and a loan, you’ll submit documentation that supports the information you provided during the initial rate check, as well as identifying information.
Although it will vary by lender, you’ll likely need some combination of the following:
• Proof of citizenship
• Valid ID number
• Paystubs, tax returns, or other income verification
• Statements for all of the loans you are planning to refinance
If you are applying for a refinance with a cosigner, they will need to provide this information, as well.
Once you’ve gathered all your documentation, it’s time to apply for your new refinance loan. Upon turning this information into the lender, they typically run a hard credit check and send the application through a final approval process.
A lender should inform you if any of your documentation is missing, but you may want to check back in after a few days if you haven’t heard from a customer service representative.
Once you’ve applied for the loan and submitted all your documentation, all that’s left to do is wait for your approval. How long this process takes will depend on the lender, but it could be as short as 24 hours and as long as a couple of weeks. Check with each lender to be sure.
Once your loan is approved, consider signing up for autopay (if they offer it and you haven’t already). Many lenders offer a discounted rate for borrowers who allow payments to be automatically deducted from their accounts.
As with anything, there are both pros and cons of refinancing student loans. While you could receive a lower interest rate and lower monthly payment, you will lose access to federal benefits and programs.
|
Pros and Cons of Refinancing Student Loans |
|
|---|---|
| Pros | Cons |
| Lower interest rate possible | Lose access to federal forgiveness and repayment programs |
| Lower monthly payment possible | May pay more in interest over the life of the loan |
| Switch from fixed to variable rate, or vice versa | Fees may be charged |
| Can change the loan term | Lose any remaining grace periods |
| Condense multiple loans into one loan with one payment | Must have good credit to qualify for the best rates |
And there, you’ve done it. You’ve learned how to refinance your student loans in seven steps. If you decide that refinancing is right for you, SoFi offers an easy online application, competitive rates, no fees, and other member benefits such as career coaching and financial advice.
Refinancing and consolidating student loans are similar and often used interchangeably, but they do mean different things. A student loan refinance is done through a private lender and combines multiple federal and/or private loans into one loan with one monthly payment. With this type of financing, you lose access to federal benefits. A student loan consolidation, on the other hand, is done through the U.S. Department of Education and combines multiple federal loans into one. Your payment does not typically decrease, but you do keep access to federal benefits and streamline your monthly payments into one.
Yes, refinancing student loans can help you pay off your student loan debt quicker. Ideally, you’ll reduce your interest payment and shorten the length of your loan. This allows you to pay less money in interest overall and get rid of your debt as soon as possible.
The biggest downside to refinancing student loans is losing access to federal benefits, repayment plans, and forgiveness programs. However, if you are in a field that’s not eligible for forgiveness and you don’t plan on needing a deferment or forbearance, it could be worth the savings to move forward with a refinance. As always, it’s best to heavily weigh the pros and cons for your specific situation before moving forward.
To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. A hard credit pull, which may impact your credit score, is required if you apply for a SoFi product after being pre-qualified.
Notice: SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers such as Income Based Repayment or Income Contingent Repayment or PAYE. SoFi always recommends that you consult a qualified financial advisor to discuss what is best for your unique situation.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
SoFi Student Loan Refinance
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). SoFi Student Loan Refinance Loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Additional terms and conditions apply. Lowest rates reserved for the most creditworthy borrowers. For additional product-specific legal and licensing information, see SoFi.com/legal.
Federal student loans could be either Direct Loans or “indirect loans” until 2010, when Congress voted to eliminate the latter. Yet many borrowers of indirect loans, also known as Federal Family Education Loans (FFELs), continue to struggle with repayment.
The big difference between the loan types — and point of contention — was the source of the funding.
The Federal Family Education Loan Program was funded by private lenders (banks, credit unions, etc.), but guaranteed by the federal government. The program ended in 2010, and loans are now made through the Federal Direct Loan Program.
The government didn’t directly insure FFEL Program loans. Instead, it acted through a guarantor, which paid the lender if the borrower defaulted. Then, the government reimbursed the guarantor.
When it came to questions about payment, borrowers dealt with the lender, the guarantor, the servicer, or a collection agency — not the government.
With a Direct Loan, made through the William D. Ford Federal Direct Loan Program, the funds come directly from the U.S. Department of Education, which gets the money from the U.S. Treasury. The loans are made by the Department of Education and backed by the federal government.
Direct Loans consist of Direct Subsidized and Direct Unsubsidized Loans (also called Stafford Loans), Direct PLUS Loans, and Direct Consolidation Loans.
Recommended: Types of Federal Student Loans
Before 2010, every school made its own decision about whether to participate in a direct or indirect loan program, or possibly both. But there were some differences in interest rates, fees, and repayment options.
If you’re thinking about how to best address your student loan debt, it’s important to know what kind of loan or loans you have, including whether they are Direct Loans or FFELs. You want to see who your loan servicers are, your loan amounts, your interest rates, your terms, and your monthly payments. Getting a baseline is crucial for determining next steps.
Even though indirect student loans ended on June 30, 2010, there are still 3.55 million borrowers who hold $94.8 billion in FFEL loans as of 2023.
Borrowers must consolidate their FFEL loans before they can apply for one of the four common income-driven repayment plans, which forgive any loan balance after 20 or 25 years of payments.
They also must consolidate loans to apply for Public Service Loan Forgiveness (PSLF), which allows some members of the military, classroom teachers, social workers, and nonprofit and government employees to have certain loan balances eliminated after 120 on-time payments.
Here’s more on repayment options, including the only income-driven repayment plan tailored to FFEL borrowers.
Only borrowers with a high debt-to-income ratio will qualify for this FFEL repayment plan. The lender determines the monthly payment based on your total gross income, not adjusted gross.
Consolidating loans with a federal Direct Consolidation Loan can increase the amount of interest that is paid over the life of the loan. If you decide to lengthen your payment period (for example, from 10 to 20 or even 30 years), your monthly payment may be lower, but the total interest you’ll pay over the life of the loan will most likely be higher.
Consolidation isn’t necessarily a money-saving option over an extended time period. And the interest rate on a Direct Consolidation Loan is the weighted average of the borrower’s current federal loans, rounded up to the nearest one-eighth of a percentage point. So, the rate actually might rise slightly.
If you don’t have any indirect loans, you still can consider consolidating your Direct Student Loans. (Note that only federal student loans, not private student loans, are eligible for consolidation into a Direct Consolidation Loan.)
Another option is to apply to refinance your student loans — federal, private, or both — into one new loan through a private lender.
Before deciding to refinance, it’s important to note that you lose access to federal benefits. This includes the ability to delay payments if you run into certain hardships and apply for federal loan forgiveness programs. But, if you don’t plan on using those, you could gain a chance at a lower interest rate with a refinance.
If you have a solid debt-to-income ratio after graduation and have built your credit profile since you first took out your student loans — and you don’t foresee a need for PSLF or an income-based repayment program — refinancing might help lower your payment without extending the length of your loan via a lower interest rate.
You can see exactly if and how much you could save with SoFi’s student loan refinancing calculator.
More than 3.5 million borrowers are repaying FFEL Program loans as of 2023. The last of these “indirect loans” were issued in 2010, when federal Direct Loans largely took over. Whether you’re repaying an FFEL loan, Direct Loan, or private loan, it’s a good idea to learn your options and figure out which makes the most sense for your situation.
If you decide to refinance your student loans, SoFi offers an easy online application, no origination fees, and competitive fixed or variable rates.
SoFi Student Loan Refinance
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). SoFi Student Loan Refinance Loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Additional terms and conditions apply. Lowest rates reserved for the most creditworthy borrowers. For additional product-specific legal and licensing information, see SoFi.com/legal.
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