SoFi student loan refinancing offers competitive rates, flexible terms, and no required fees. Learn how it works, current APRs, and if it’s worth it in 2026.
Student loan refinancing can be a smart move for borrowers looking to lower interest rates, reduce monthly payments, or simplify their finances. SoFi student loan refinancing is one of the most popular options, offering competitive rates, flexible repayment terms, and no required fees.
In this guide, we’ll explain how SoFi student loan refinancing works, review current refinance rates, highlight the key benefits, and cover important things to consider before applying.
What Is Student Loan Refinancing?
Student loan refinancing means replacing one or more existing student loans with a new loan from a private lender—ideally with better terms. Borrowers typically refinance to:
- Secure a lower interest rate
- Reduce monthly payments
- Pay off loans faster
- Combine multiple loans into one payment
SoFi allows refinancing of private student loans, Graduate PLUS loans, and certain federal student loans. However, refinancing federal loans means giving up federal protections such as income-driven repayment plans and Public Service Loan Forgiveness.
👉 SoFi Private Loans Made Easy: Everything About Installment Loans
How Student Loan Refinancing Works at SoFi?
SoFi’s refinancing process is fully online and designed to be simple and transparent.
Step 1: Check If You Qualify
SoFi reviews several factors, including:
- Credit score and credit history
- Income and employment stability
- Monthly income versus expenses
👉 Check your SoFi student loan refinance rate in minutes with no impact on your credit score
Step 2: Choose Your Loan
If approved, you can select from:
- Competitive fixed or variable interest rates
- Flexible repayment terms (5–20 years)
- No origination, late, or prepayment fees
Choosing the right term can help lower either your monthly payment or total interest cost.
Step 3: Get a Rate Discount
SoFi offers additional savings. Enrolling in autopay earns a 0.25% interest rate discount, which can add up to thousands in long-term savings.
SoFi Student Loan Refinance Rates (2026)
SoFi offers both fixed and variable APRs. Rates below include available discounts, such as autopay.
Fixed vs Variable SoFi Student Loan Refinance Rates
SoFi offers both fixed and variable interest rate options when refinancing student loans. Fixed rates stay the same for the life of the loan, which can make budgeting easier. Variable rates may start lower but can change over time based on market conditions.
Borrowers typically choose fixed rates if they value predictability, while variable rates may appeal to those planning to pay off loans faster.
👉 Check if you are interested in the SoFi Personal Loan Review 2026
Fixed Interest Rates
| Term | APR Range |
|---|---|
| 5-Year Fixed | 4.24% – 8.95% |
| 7-Year Fixed | 4.99% – 9.27% |
| 10-Year Fixed | 5.02% – 9.32% |
| 15-Year Fixed | 5.22% – 9.37% |
| 20-Year Fixed | 5.42% – 9.99% |
Fixed rates are ideal if you want predictable payments and long-term stability.
Variable Interest Rates
- 5–20 year terms
- 5.99% – 9.99% APR
Variable rates may start lower but can change over time based on market conditions. They’re often best for borrowers planning to pay off loans early.
👉Checking your rate is a soft inquiry and won’t affect your credit score.
Why SoFi Is a Smart Choice for Student Loan Refinancing?
Lower Your Interest Rate
A lower APR can save you thousands of dollars over the life of your loan, especially if you’re refinancing high-interest student debt.
Simplify Your Finances
SoFi allows you to consolidate multiple loans into one easy monthly payment, reducing financial stress.
Pay Off Debt Faster
Shorter loan terms help borrowers become debt-free sooner, especially when combined with rate discounts.
No Required Fees
SoFi charges:
- No origination fees
- No late fees
- No prepayment penalties
This means more of your payment goes directly toward your loan balance.
Is SoFi Student Loan Refinancing Worth It in 2026?
For the right borrower, SoFi student loan refinancing can be a strong option, especially for those seeking lower interest rates, no required fees, and a streamlined digital experience. However, refinancing is not one-size-fits-all.
Borrowers with federal loans or uncertain income should carefully weigh the long-term consequences.
What matters most is having a clear picture of your finances and taking time to compare different offers.
Final Thoughts
SoFi is a popular refinancing choice, but it isn’t ideal for everyone. It may be a good option for financially stable borrowers looking to save on interest, but those who rely on federal loan benefits should think twice.
👉See if you qualify for SoFi student loan refinancing