SoFi is a new lending company offering both student and private loans. SoFi offers a novel service by providing peer-to-peer lending geared towards student debt. The have awarded over 840 million in student loans and provide top-notch customer service. We rate them a 7.8 out of a possible 10. To learn more about SoFi, read our review here or visit: http://bestdebtcompanys.com/studentdebt/sofi-review/

1. SoFi!

2. Who Are They?!
SoFi is a peer-to-peer lending service. They were
founded in an effort to help relieve those who seek
student loans, but are worried about falling into the
trap of endless student loan debt for years and years
to come. Not only do they facilitate lending for those
looking for alternatives to the traditional student loan
process, they also offer loan refinancing to qualified
graduates. !
!
SoFi has issued, “over $730,000 in loans to 8,650
members.” !
!
!

3. What Services Do They
Offer?!
SoFi
offers
alterna.ve
student
loan
op.ons,
loan
refinancing
and
investment
opportuni.es
for
lenders
and
borrowers
alike.
Borrowers
are
able
to
refinance
student
loans
and
even
have
op.ons
for
consolida.ng
federal
student
loans
with
the
private
student
loans
they
receive.

4. Specific Services!
Specific services offered by SoFi include:!
!
• Career Coaching!
• Entrepreneurship Support!
• Unemployment Protection!
• Investment Opportunities!
• Financing for Life’s Big Milestones!

5. Do They Offer Debt
Education?!
They provide a blog with lots of educational material as
it relates to student loan debt, job search strategies,
resume tips, refinancing advice, interest rates and
saving money to name just a few topics. !
!
Though they don’t offer official debt education courses
as a part of their regular services, they make quite an
effort to provide helpful information and articles to their
visitors and consumers. !

6. How Do They Rate With
The BBB?!
“SoFi” has been an accredited business with the Better
Business Bureau since 2013 and has an A- rating with
the BBB. The main reason “SoFi” doesn’t hold an A+
rating is because they haven’t been in business for
very long and haven’t been able to establish
themselves as a long standing, well trusted service
provider. !
!
However, they have received very few complaints
against them as a company for a business of their size
and they have responded quickly to resolve those
complaints which they have received. !

7. What Do Their Services
Cost?!
The minimum amount of debt that a person can borrow
with SoFi’s services is $10,000, except in Iowa where
$50,000 is the minimum. They offer fixed-rate loans
with competitive rates, though there is some variance.
Overall, borrowers can expect to pay somewhere
between 4.99-6.74% for a fixed rate loan and as low as
2.9% if they choose a variable rate loan. !
!

8. Website Resources!
Their blog is probably one of the best resources on
their site. Each post is long and covers a lot of material
and really goes in depth explaining the topic at hand. !
!
There’s also a helpful FAQ section with dozens of
questions related to refinancing, personal loans, MBA
loans, mortgages, parent loans and so forth. !

9. Refund Policy?!
An application can be cancelled with no fees before it’s
fully completed, but there really isn’t a refund policy in
place because once the loan has been funded, any
loans borrowers had previously are then paid off with
the new SoFi loan which makes it impossible to cancel
at the point. !

10. What Makes This
Company Stand Out?!
This company stands out largely due to their creative
business idea for changing the way student loans and
other personal and business loans are financed and
paid off. It’s a very unique concept and as such, SoFi
has currently over $720,000,000 out in loans, which is
a huge amount. They’ve built a reputation of trust and
innovation many people are investing in and counting
on. !

11. Do They Maintain A
Social Media Presence?!
As an up and coming modern business, SoFi has a
strong social media presence on just about every
major social media channel available, including
Facebook, Twitter, Google+ and LinkedIn. They have
thousands of followers and are growing by the day. !

12. What Does the BDC
Think of This Company?!
BDC rates this company highly with a 7.8 out of 10.
They weren’t higher because they really haven’t been
in business very long, only 3 years, so they still need to
prove themselves as a solid, long lasting organization.
However, they do offer a free consultation, no upfront
fees, a mobile-friendly site and a very unique and
appealing service that can help thousands of people
avoid and manage debt effectively. !

13. Potential Negatives!
Those with low income levels or poor credit won’t find
any relief with SoFi, which will rule a lot of people out,
but that can be expected of an up and coming lending
service.!

14. Learn More!
View BDC’s full profile on this company by following
the link below:!
!
http://bestdebtcompanys.com/studentdebt/sofi-review/!

15.
Learn
More