How a New Presidency Could Impact Your Student Loans—and Why Refinancing Might be a Smart Move 

The Biden administration has made significant strides in easing student loan debt for millions, but with Trump back in office in 2025, the future of these relief programs is uncertain. Potential legislative changes could bring fewer forgiveness options, less support for repayment plans, and higher interest rates.

So, what does that mean for you? If you’re carrying student loan debt, now is a great time to take control. Refinancing now could help you lock in lower rates and predictable payments, offering stability and protection from shifting policies—potentially saving you thousands in the long run.*

Refinancing Can Help You Save

Refinancing your student loans means swapping out your current loans for a new one—typically with a lower interest rate. And now might be the perfect time to do it:

1. Lock in a low rate before they rise: Political and economic uncertainty can impact interest rates. Refinancing today could help you secure a lower fixed rate, protecting you from future increases.
2. Simplify your payments: If you’re juggling multiple loans, refinancing lets you consolidate them into one loan with a single monthly payment, making repayment more manageable.
3. Reduce your total interest costs: A lower rate could save you thousands over the life of your loan, freeing up money for other financial goals.

Why Refinance Your Student Loans with SoFi?

SoFi makes refinancing your private student loans simple and affordable. Here’s how the lender stands out:

• New, Lower Rates: SoFi just dropped fixed rates starting as low as 4.49% APR¹ with all discounts so you can save even more. Plus, you’ll have the option to refinance if interest rates drop further.
• No Fees: You won’t pay any application or prepayment fees, so every dollar saved can go directly toward reducing your loan balance.
• Flexible Repayment Options: SoFi offers a range of repayment terms, allowing you to personalize your loan to work for you—whether that’s paying off your loan sooner or lowering your monthly payments.¹

Refinancing with SoFi lets you make the most of today’s market conditions while protecting yourself from any future interest rate changes.

View loan offers and terms in 2 minutes with SoFi, with no impact to your credit score.†

 

Sponsored by SoFi

*Refinancing federal student loans means becoming ineligible for current or future federal student loans benefits such as income-based repayment plans and Pay As You Earn.

SoFi’s Disclosures:

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS PROSPECTIVELY BASED ON MARKET CONDITIONS AND BORROWER ELIGIBILITY. Your existing student loan(s) must total a minimum of $5,000 to be eligible for refinancing. Additional terms and conditions may apply. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., have graduated with an associate degree or higher from an eligible Title-IV-accredited college or graduate program, and meet SoFi’s pre-established underwriting requirements, including verification of sufficient income to support your ability to repay; see SoFi.com/eligibility. Lowest rates reserved for the most creditworthy borrowers. You may pay more interest over the life of the loan if you refinance with an extended term.

SoFi refinance loans are private student 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. Information current as of 9/26/2024 and subject to change. SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

¹ Fixed rates range from 4.49% APR to 9.99% APR with 0.25% autopay discount and 0.25% direct deposit discount. Variable rates range from 5.99% APR to 9.99% APR with a 0.25% autopay discount and 0.25% direct deposit discount. Unless required to be lower to comply with applicable law, Variable Interest rates will never exceed 13.95% (the maximum rate for these loans). SoFi rate ranges are current as of 3/27/24 and are subject to change at any time. Your actual rate will be within the range of rates listed above and will depend on the term you select, evaluation of your creditworthiness, income, presence of a co-signer and a variety of other factors. Lowest rates reserved for the most creditworthy borrowers. For the SoFi variable-rate product, the variable interest rate for a given month is derived by adding a margin to the 30-day average SOFR index, published two business days preceding such calendar month, rounded up to the nearest one hundredth of one percent (0.01% or 0.0001). APRs for variable-rate loans may increase after origination if the SOFR index increases. The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. This benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. The benefit lowers your interest rate but does not change the amount of your monthly payment. This benefit is suspended during periods of deferment and forbearance. Autopay and Direct Deposit are not required to receive a loan from SoFi. You may pay more interest over the life of the loan if you refinance with an extended term.

✝︎ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, SoFi will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.