SoFi Student Loans

4.8 out of 5 stars
163 Reviews

From Product Users in the last year


Application Process

4 out of 5 stars

Customer Service

4 out of 5 stars

5 5

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Most Helpful Positive Review

Sep 08, 2016
The best debt consolidation ever!
jdbrech Product User

SoFi has made my out of control student loans manageable and over with in 15 years vs. 30. The process was easy, they were fast, payments are all on auto pay so I don't have to think a lick about those long-looming loans. I use them for student loan consolidating and a smaller consumer loan debt consolidation. I would highly recommend them to everyone.

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Most Helpful Negative Review

Apr 08, 2016
DMV Has Better Customer Service
Anonymous Product User

I couldn't agree more with the other negative reviews about SoFi's poor application process.   Their customer service will say one thing but never do it, or it will take months for things to happen with no status updates.  I would not recommend SoFi to anyone.

In December of 2015 SoFi approved my loan application, but I later ended up canceling due to so many mistakes made.  First they couldn't verify my identity and had to mail a paper application.  Then SoFi sent the wrong fund amount to my original provider Navient - and at the wrong time.  SoFi was waiting on Navient to reduce my payoff amount by $7,000 per a negotiated lump-sum payoff.

Prior to my SoFi application AND after SoFi told me they would wait to mail a check until Navient updated the final reduced payoff amount.  SoFi told me this twice and even called me to check on the status.  Well, SoFi's "computer" automatically mailed a full amount fund anyway, before Navient applied the reduced payoff term.  Obviously Navient kept the extra money and rejected my reduced payoff term, costing me $7k in savings.

SoFi apologized and said they would cancel my application and reverse the payment.  That took three months.  SoFi also said they would temporarily put my new loan on hold while they rectified the situation - that never happened.  I had overlapping duplicate payments through both SoFi and Navient for the same loan.  I called SoFi to get help and the SoFi rep basically said "too bad" and claimed the previous reps told me wrong information.

I requested escalation to a supervisor and was told exactly this: "Sounds like we've been telling you what you want to hear, but haven't been delivering results" - which is spot on.  That supervisor went on to say she would personally handle my application mix-up and call me right back - which never happened.  I was never able to contact that supervisor again.

Another annoying thing - you can't call service reps directly who are familiar with your situation.  Every time you call their customer service you have to verify 10 contact information questions with whoever answers before they will transfer you.  On a few other occasions the rep would ask me to explain my situation instead of transferring, staring the whole process all over again.  Very frustrating.

SoFi's internal communication is non-existent.  I referenced their internal support ticket numbers, but many reps "couldn't pull up that system" to read my notes.

I had to call SoFi's loan provider Mohela directly in order to get any kind of decent customer service and results.  Mohela was able to temporarily suspend my duplicate payments until SoFi reversed the funds.  What's the point of using SoFi if they just punt you to Mohela anyway?

I'd rather get a refinance loan through the DMV.  Stay away from SoFi.

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These reviews were written by current and former product users in the last year.

Mar 18, 2017
Anonymous Product User

Easy application, quick turnaround 

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Mar 17, 2017
Loan Servicer
seattlesushilover Product User

I have used Sofi to re-finance my student loans for a much lower rate and to take out some personal loans with interest rates much lower than my credit card interest rates. Sofi has enabled me to dramatically improve my credit score. 

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Mar 17, 2017
Student loan refinance
Anonymous Product User

SoFi made everything easy and seamless, great interest rate and payment options. I highly recommend SoFi over other student loan options.

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Mar 02, 2017
Very easy and speedy loan process
bcohe Product User

I found the entier process with Sofi simple, intuitve and fast.  If you're looking for a no hassle solution, this is it.

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Feb 28, 2017
Amazing Customer Service, Great Rates
Anonymous Product User

This company by far had the best customer service of all of the companies that I looked into. I love that they provide free services such as wealth management, help finding a job, and more. It feels like they really care about their customers as people. Their website and application was very easy to navigate on my own. I had my student loans through Sallie Mae before, and I felt like just a number there. I'm so glad I refinanced with SoFi. Plus, they gave me the lowest interest rates of all the companies that I looked into. Very happy so far. 

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Feb 27, 2017
Refinanced Student Loans
Anonymous Product User

I refinanced my student loans with SoFi over a year ago.  The application process was very easy to navigate and the customer service has been outstanding.  I have recommended SoFi to friends of mine.  Additionally, SoFi hosts community dinners for current SoFi members in my city.  These dinners have all been very well run events held at great restaurants and have been a nice way to connect with people outside my normal social circle.  I will definitely consider SoFi for any additional loans or mortgages in the future. 

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Feb 25, 2017
Personal Loan
Anonymous Product User

When others wouldn't approve me, SoFi did. And at a lower rate than everyone else!  It really is life changing, to have the credit cards that have built up over the years turned, almost overnight, into a manageable loan. The end is finally in sight!

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Feb 24, 2017
Anonymous Product User

My SoFi loans have changed my life. I tell everyone I know about them. About how great the customer service is. About my beautiful little welcome package. About having an end date to my seemingly endless credit card and loan debt. And, my favorite, about being able to take the parent student loan that has burdened my parents for years off of their credit report.  I really can't say enough and I'm not wholly certain that there are enough words to even try.

The application process was easy but there were some challenges. Quite a bit of documentation was needed but, lets be honest, I wasn't requesting a small amount. :) Once approved, the funding was amazingly fast and I've been immensely pleased ever since.

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Feb 24, 2017
Unbelievable Simple and Fast!
Anonymous Product User

I was very nervious about the entire process.  Knowing my credit score was declining due to recent family events, I did not want to apply for anything.  I took the plunge on a friends suggestion and am so happy that I did.  The process was unbelievably simple and I had funds in my account within a week.  I would highly recommend.

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Feb 14, 2017
Personal loans made easy
Anonymous Product User

I needed a debt consolidation loan that was larger than most companies would allow me to take out. SoFi gave me the opportunity to consolidate all my debt into one load and I'm paying less than I did before and have an actual date the debt will be paid off. Application process was easy and customer service was always very helpful. Definitely recommended.

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