SoFi Student Loans Reviews

We went with SoFi to consolidate student loans and they have neglected to payoff the original loan we had with them. It was been over 30 and they are getting ready to send our original loan to collects while tells us don’t worry the funds will be distributed soon. Yet still call every day to ask for our old loan payment. And we have already made two payments on the refinance loan.

I applied for a student loan. When the time to close came around, I started receiving multiple calls from a SOFI agent. Every phone call led to changes from the original terms. Originally, I was offered a 5.99% interest rate, but by closing, it had gone up to 6.99%. I told the representative that I wanted to review all the details before closing. During the review process, I received an email stating that if I closed on the student loan, I would be eligible for a $500 credit.

This company is absolute garbage! Everything they try to sell you is false. They don’t want to help anyone and their system is completely corrupt. Do not fall for their commercials and their fake actors. They’re not in the business of helping anyone who actually needs to consolidate student loans, and they’re complete morons on the phone so good luck trying to get anyone with half a brain.

I wish there was a rating lower than 1 star. My mother refinanced a parent PLUS loan with them several years ago. When she passed away suddenly 7 months ago, I reported her death to SoFi Mohela and was told the loan was most likely eligible for discharge once I sent in the death certificate. I sent it in August 24th and didn't hear anything. Cut to 6 MONTHS later, they filed a claim against my mother's estate for the total balance of the loan. After countless attempts to speak to someone and find out why the loan wasn't eligible for discharge as I was told and as THEIR OWN WEBSITE SAYS- I was basically just told it was a private loan and the estate is liable for the full amount. I have spent weeks going back and forth with them just to get some answers at a time when I am already knee deep in grief. So AWFUL. I have asked for the original agreement that my mother signed so my own lawyer can review it and still have yet to receive it.

Pros: They are quick to respond. Cons: Do not expect compassion or flexibility from them. When considering refinancing with SoFi, I called and specifically asked about In-School Deferments as I am currently enrolled full-time in graduate school and cannot afford to make payments. The customer service agent assured me that SoFi would help me in this regard, so I decided to go through with the refinancing.

I transferred my student loan to Sofi, because I was able to get a better interest rate and pay it down quicker. The process was easy, the online management is great, and approval was very quick. I would recommend Sofi for student loan, or other loans for their quick and easy process.

Awful experience with this lender and I would encourage physicians and independent contractors to steer clear. As an attending physician I get paid several different ways but primarily my income is through a 1099 as an independent contractor. I recently purchased a new house and decided to refinance my student loans at the same time, since I would have all my up-to-date financial paperwork at my fingertips anyways.

I started the harrowing process to refinance my student loans in November. I spoke at length to a representative explaining what the goal of this process was and ensuring I was completing the correct application. At every stage I was given conflicting information about what outstanding documents were needed. I contacted customer service no less than 10 times over the course of this process. Every requested document was provided in a timely manner. Because this process was taking so long, I requested an extension for the application end date and was told I had until January 12. I just logged in to provide what I was told, once again, would be the final documents needed to find my application had been declined due to the wrong product being selected.

I had a very poor experience with Sofi. I refinanced my student loans with them a little over a year ago. However, wanted to take advantage of the historically low rates this season, so I applied for another refinance because I had lost my original job due to the COVID pandemic and inevitably had made a little less money this year. EVEN WITH that happening, I still hadn't missed a single payment and had actually paid $2k extra on my loans this year, while improving my score over 50 points (to 795) since I originally applied with them. Needless to say, I was denied this loan. They do not care about their customers, no matter how good they may be, and I'm going to make sure everyone I know, knows it. I've never felt so disrespected by a company in my life.

I refinanced my student loan due to a promotion of $450 dollars. The application was complete and I was approved. I called a month afterwards and was told that there was no such offer even though I confirmed on the first call about the promotion. I would expect a company of this stature to have dignity and honor their words but they didn't. I'm livid!