Why should I choose SoFi Private Student Loans?

SoFi is different, and we’re not just saying that. Our loans offer competitive rates and flexible terms with no fees, an easy all-online application, flexible repayment plans, and U.S. based support when you need it. And you can check your rate in just 3 minutes.

Do I need a cosigner? WHat are the benefits to having a cosigner?

No, but rates for undergrads are typically higher without a cosigner. Most undergraduate students have limited credit history and income; having a cosigner with a solid financial history and good, established credit may help improve your chances of loan approval. It might even help you qualify for a lower interest rate. With SoFi’s online application process, you and your cosigner can see what rates and terms you pre-qualify for before submitting your full loan application—and it won’t impact your credit score.

What information do I need to apply?

Student: Social Security number, School information (estimated graduation date and academic term), Loan amount (how much you’d like to borrow), Financial aid you expect to receive, Proof of income (if applicable), Cosigner (if applicable:), Social Security number, Annual income & proof of income, Government-issued ID

Do I need to be a full-time student to obtain a SoFi Private Student Loan?

You do not need to be a full time student, but you must be enrolled in a degree-seeking program at an eligible school and be attending classes at least half-time. Check out our full eligibility requirements to learn more.

Do you require students to make Satisfactory Academic Progress (SAP) in order to receive the loan?

Yes, and we ask the school to verify SAP during the school certification process according to their own definition. In general, this means that you have to make good enough grades, and complete enough classes (credits, hours, etc.) to keep moving toward successfully completing your degree in a time period that’s acceptable to your school. Each school has an SAP policy for financial aid purposes—if you’re not sure what your school’s SAP policy is, check their website or ask someone in their financial aid office.

Scholarship Search - College Scholarships Finder

Scholarship Search Tool

Lightening your college costs is great, but how do you know what’s available to you? There are countless scholarships, fellowships, grants, and more up for grabs. Streamline it all with the Scholarship Search tool and save your college stress for tests (and dorm drama).

How to Use the Scholarship Finder Tool

Using SoFi’s scholarship search can help you find scholarships that fit your profile. You can search by 10 filters, including a specific keyword, school type, area of study, and more which can help you narrow down scholarships that may fit your background or strengths.

For each scholarship, you can see details, including the number of awards available, the deadline to apply, and a link where you can learn more.

How to Use the Scholarship Finder Tool Filters

Using filters on SoFi’s scholarship search tool will help you find scholarships that are a good match for you. The more fields you fill out, the more defined your results will be.

Certain fields are additive, which means you’ll find scholarships that fit either of those criteria. If you choose “nursing” as your field of study, for example, you’ll find more than 275 potential scholarships. And if you add “any military service” as an additional filter, there are over 400 results.

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As you pursue your college scholarship search, use the filters to surface a wide range of opportunities. The more scholarships you end up applying to, the greater your chances of success. Here are some of the filters to explore.

Keywords can be valuable for honing in on scholarships that may be specific to an area of interest or talent that doesn’t appear on other filters. Search “community service,” for example, and 191 opportunities come up. There are scholarships for moms, for those who are the first in their family to attend college, and more. Exploring with different keywords and filters can help you get a sense of what types of opportunities are out there.

There are over a hundred field of study filters that you can use to find scholarships that are related to your major or to a major you’re considering. From journalism and law to nursing or civil engineering, there are related scholarships to consider.

Success rate shows the percentage of applicants who are awarded a scholarship. That means that scholarships with a lower success rate percentage may be very competitive. So as with creating your college application list, you’ll want to consider a mix of scholarships when you apply — some that are more of a challenging “reach,” as well as others that are less competitive.

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There are filters for religion and military service as well. Exploring all of the filters with some of the ways you categorize yourself can help you create a more personalized list of scholarships.

There are a range of state scholarships that are earmarked for residents of a certain state, or for students who go to college there. It’s worth searching both the state that you reside in and also, depending on where you are in your college process, exploring scholarships in states where you’re applying to schools. Be sure to understand any residency requirements before you apply.

You can also search scholarships that can help pay for tuition and educational expenses at the specific type of program you’re hoping to attend — four-year schools, two-year colleges, as well as tech or trade schools. It can be helpful to select the type of school along with another filter, such as area of study or ethnicity.

There are many scholarships designed for people of certain ethnicities, heritages, and backgrounds. Filtering for ethnicity can help surface a range of potential scholarships that you might not have known about. Keep in mind, ethnicity can refer to the background and heritage of your parents or grandparents, too. You can learn more about the requirements on the scholarship’s website.

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Your Scholarship Search Results: Next Steps

Once you have a list of scholarships, you can determine which ones are the best fit by learning more from the links in the scholarship finder tool. The earlier you start your research, the more time you’ll have to apply ahead of the deadlines. Junior year of high school can be a good time to start looking.

Be sure to check the eligibility requirements and assemble all of the requested materials. Your school’s college counseling office or local community center may be able to offer guidance on applying for scholarships, as well as provide tips on how to strengthen your application.

If you’re awarded a scholarship, you’ll need to report any awards over $300 to your school’s financial aid office. They may adjust the amount of need-based financial aid that you receive. (If you don’t share this information, you may be responsible for paying back what’s called an “overaward.”)

If you’re not awarded a scholarship, keep trying: You can continue to apply for new scholarships throughout your academic career in college.

Overwhelmed by all the college choices?

There are so many colleges! Where do you even begin? The College Search tool is here to help make your choices more digestible.

Find your college

Scholarship Search FAQ

There are thousands of scholarships available awarded on a range of achievements in academics, athletics, or the arts. They can also be tied to extracurricular activities, community involvement, or personal background, such as your identity, religion, heritage, or state residency. The amount of a scholarship may be a few hundred dollars to several thousand.

A scholarship finder, like SoFi’s scholarship search tool, can help you find scholarships that are a good fit for you. It takes time and effort to apply for scholarships — and you’ll want to apply to as many as you can to increase the odds of winning one — but if you win an award, the free money for college will be worth it.

The deadlines for scholarships vary, so it’s helpful to start early. Junior year of high school can be a good time to start your research. You can sort by deadline date in SoFi’s scholarship finder tool to help you stay on top of applications.

Each scholarship will have its own application requirements, but you may be able to use some of the same materials for multiple applications. Seek out guidance for applying from your high school’s college guidance office or your local community center.

If you win a scholarship, how you receive the award may vary. The organization granting the scholarship may send the money directly to you, or it may be sent to your school to cover educational expenses, such as tuition. You should receive information about how you’ll receive your award when you learn that you’ve won a scholarship.

You’ll need to report any scholarship awards over $300 to your school’s financial aid office, and the amount of need-based financial aid you receive may be adjusted. If you don’t report it, you may be responsible for paying back the “overaward.”