SoFi graduate school loans

SoFi Graduate School Loans are best for borrowers with strong credit profiles or cosigners who seek competitive interest rates and do not require federal protections like Public Service Loan Forgiveness (PSLF). If you anticipate high earnings and want to avoid federal origination fees, SoFi is a top contender. However, stick with federal loans if you rely on income-driven repayment plans.

For families, the priority is often avoiding surprise costs and protecting credit health; for students, the focus is on keeping monthly payments and total interest manageable. SoFi addresses these needs with specialized loan products tailored specifically for MBA, medical, and law school students. Whether you are filling a funding gap or seeking better terms than Grad PLUS loans, this guide breaks down rates, eligibility, and unique features to help you navigate the graduate school financing landscape.

Context: understanding SoFi’s place in graduate school financing

SoFi has established itself as a dominant player in the private student loan market, specifically targeting students in high-cost, high-return professional programs like business, law, and medicine. While federal loans remain the standard foundation for most financial aid packages, many graduate students encounter scenarios where private lending offers a competitive advantage, particularly when bridging the gap between federal limits and the total cost of attendance.

According to Mark Kantrowitz, financial aid expert, “Private loans can be a good option when federal loans don’t cover the full cost of attendance.” This is particularly relevant for graduate students comparing options against Federal Grad PLUS loans. According to StudentAid.gov, Grad PLUS loans for disbursements between October 1, 2024, and September 30, 2025 carry an origination fee of 4.228%. This fee is deducted immediately from loan proceeds, meaning you effectively borrow more than you receive. SoFi eliminates these origination fees entirely, potentially saving borrowers thousands of dollars upfront on large balances.

However, this cost saving comes with a structural trade-off. By choosing a private lender like SoFi, borrowers forgo access to federal income-driven repayment (IDR) plans and Public Service Loan Forgiveness (PSLF). To mitigate this risk, SoFi offers a suite of “member benefits” distinct from traditional banks, including unemployment protection that allows for temporary payment pauses and complimentary career coaching. This approach positions SoFi as a hybrid option: it offers the competitive rates of a private lender with safety nets designed to mimic some federal protections. For a deeper dive into these core differences, review our federal vs. private loans guide.

Decision: is SoFi right for your graduate program?

Before diving into specific program details, it is essential to determine if a private lender like SoFi fits your financial strategy. According to StudentAid.gov, most graduate students should maximize Federal Direct Unsubsidized Loans first, which have an annual limit of $20,500 for graduate and professional students, due to their lower fixed fees and flexible terms. The real decision usually lies between taking out a Federal Grad PLUS loan or a private student loan to cover the remaining cost of attendance.

Use the table below to compare the structural differences between these three primary funding sources.

Source: SoFi.com and StudentAid.gov (federal rates/fees effective for loans disbursed between Oct 1, 2024 and Sept 30, 2025)

SoFi is generally a strong candidate if you meet the following criteria:

• Credit Health: You (or your cosigner) have a credit score of 650+ and a solid debt-to-income ratio.
• Career Trajectory: You plan to enter a high-income private sector role (e.g., corporate law, specialized medicine, investment banking) rather than public service.
• Gap Funding: You have exhausted your Direct Unsubsidized limit and want to avoid the high interest and fees of Grad PLUS loans.

According to Mark Kantrowitz, financial aid expert, “Private loans can be a good option when federal loans don’t cover the full cost of attendance.” However, moving away from the federal system requires confidence in your future repayment ability. If you are comfortable forgoing federal forgiveness programs in exchange for potentially lower rates and zero fees, comparing private options is a logical next step.

If you have excellent credit and a clear repayment plan, you may find rates significantly lower than the current federal fixed rate.

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SoFi MBA loans: features and requirements

Top-tier business school programs often come with price tags exceeding $150,000, requiring a financing strategy that goes beyond standard federal limits. SoFi’s MBA Loan is a specialized product designed to compete directly with Federal Grad PLUS loans, offering features tailored to business students who expect a rapid return on investment after graduation.

The primary appeal of the SoFi MBA loan is the potential for interest savings compared to federal options. As of January 2025, borrowers with excellent credit profiles may qualify for fixed rates of 4.49% - 13.98% or variable rates of 4.99% - 13.13% that undercut the federal Grad PLUS fixed rate of 9.08%. You can check current SoFi MBA loan rates on their website to see where your credit profile lands.

Unlike federal loans, which set a single rate for every borrower regardless of credit history, SoFi uses risk-based pricing. This means students (or cosigners) with higher credit scores and lower debt-to-income ratios receive the lowest rates. Additionally, SoFi charges $0 in origination fees. On a $150,000 MBA loan balance, avoiding the federal 4.228% origination fee saves approximately $6,342 immediately upon disbursement.

SoFi allows students to borrow up to 100% of the school-certified cost of attendance (COA), which includes tuition, fees, books, and room and board, minus other financial aid received. This is critical for students at major metropolitan universities where living expenses drive the total two-year cost between $140,000 and $180,000.

Borrowers can select repayment terms of 5, 7, 10, or 15 years. Choosing a shorter term, such as 5 or 7 years, will significantly increase monthly payments but drastically reduce the total interest paid—a strategy often favored by MBA graduates entering high-paying consulting or finance roles. For a broader look at structuring your business school debt, review our MBA financing guide.

SoFi differentiates itself by offering “member benefits” that align with the career-focused nature of business school. These include access to exclusive networking events and complimentary one-on-one career coaching to help with salary negotiation and personal branding.

According to Mark Kantrowitz, financial aid expert, “Private lenders sometimes offer benefits like autopay discounts or career support.” SoFi includes a 0.25% interest rate reduction for enrolling in autopay, further lowering the cost of borrowing for organized repayment plans.

To qualify specifically for the MBA loan product, applicants must meet the following criteria:

• Enrollment: Must be enrolled at least half-time in a graduate business program at an eligible Title IV accredited institution.
• Credit: A strong credit history is required. While SoFi does not publish a hard minimum, successful applicants generally have scores above 650. Many MBA students without income during school may need a creditworthy cosigner to secure the lowest rates.
• Citizenship: Must be a U.S. citizen, permanent resident, or a non-permanent resident alien with a valid co-signer who is a U.S. citizen or permanent resident.

While MBA graduates typically aim to return to the workforce immediately, other professional degrees require significantly longer training periods before full earning potential is realized. This distinction is vital when comparing MBA loans to financing options for medical professionals.

SoFi medical school loans: residency and fellowship considerations

Medical education requires a significantly longer financial runway than business or law school, often spanning four years of study followed by three to seven years of residency and fellowship. Because of this extended timeline, SoFi has structured its medical school loans to address the specific cash-flow constraints of early-career physicians.

Similar to its other graduate products, SoFi allows medical students to borrow up to 100% of the school-certified cost of attendance. This is particularly important given that the Association of American Medical Colleges (AAMC) reports the median four-year cost of attendance for the class of 2024 exceeded $260,000 at public institutions and $360,000 at private ones. While Federal Grad PLUS loans also cover these costs, they come with the 4.228% origination fee mentioned earlier. On a $250,000 medical school debt, that fee adds nearly $10,600 to your balance before you even attend your first lecture—a cost SoFi eliminates entirely.

The defining feature of SoFi’s medical loan is its approach to residency. Standard repayment plans often demand high monthly payments immediately after the six-month grace period ends, which can be unmanageable on a resident’s salary. According to SoFi, the lender offers a residency and fellowship deferment period of up to 54 months.

During this time, borrowers are not required to make full principal and interest payments. Instead, you can opt to pay a fixed $100 per month. While interest continues to accrue during this period, this low mandatory payment prevents delinquency and protects your credit score while you complete your training. Once the residency period ends, the loan converts to a standard repayment schedule.

For medical students, the decision to use a private lender like SoFi carries heavier weight than for other professions due to Public Service Loan Forgiveness (PSLF). Many residency programs are hosted by 501(c)(3) non-profit hospitals, meaning residents with federal loans can earn qualifying payments toward tax-free forgiveness while training.

If you take a SoFi loan, you are ineligible for PSLF. This option is therefore best suited for students who:

• Intend to enter private practice or for-profit healthcare systems immediately.
• Have a debt-to-income ratio projected to be low enough that they can pay off the debt aggressively.
• Calculated that the interest rate savings and zero fees of a private loan outweigh the potential forgiveness benefits.

Medical students often have limited income during school, so SoFi’s underwriting focuses heavily on credit history and future earning potential. According to Mark Kantrowitz, financial aid expert, “Private loans can offer variable interest rates, which may be lower than federal fixed rates initially,” but securing these rates typically requires a creditworthy cosigner during the medical school years. According to SoFi, the lender offers a cosigner release option after 24 months of on-time principal and interest payments, allowing doctors to eventually take full responsibility for the loan once their income stabilizes.

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While doctors face a decade-long training path, law students encounter a different hurdle: the immediate pressure of the bar exam and a sharp bifurcation in career earnings.

SoFi law school loans: bar exam and career path options

Law school presents a unique financial challenge: a three-year academic sprint followed by a critical “fourth year” hurdle—the bar exam. With the American Bar Association (ABA) reporting that average law school debt often ranges between $100,000 and $200,000 depending on the institution, selecting the right financing is as much about career strategy as it is about interest rates.

SoFi’s Law School Loan is structured to accommodate the rigid timeline of legal education, specifically addressing the gap between graduation and passing the bar.

Unlike MBA graduates who often start working immediately, law graduates typically spend the summer after graduation studying full-time for the bar exam. During this period, income is nonexistent, yet living expenses continue. SoFi addresses this by offering a standard six-month grace period following graduation. During this time, full principal and interest payments are not required, allowing graduates to focus entirely on passing the bar without the immediate pressure of a loan bill.

However, it is crucial to plan for contingencies. If a borrower fails the bar exam and requires additional time to retake it, the grace period generally does not extend. Private loans are strictly contractual; once the six-month window closes, repayment begins regardless of licensure status. This differs from federal loans, which may offer more lenient forbearance options during financial hardship.

The decision to use SoFi for law school often depends on your intended career trajectory. According to the National Association for Law Placement (NALP), the legal profession has a bimodal salary distribution: “BigLaw” associates often start with salaries exceeding $225,000, while public interest attorneys and judicial clerks may earn $60,000 to $70,000.

• The BigLaw Track: For students aiming for large firms, SoFi is often the superior choice. The lack of origination fees can save roughly $8,000 on a $200,000 balance compared to Grad PLUS loans. Since these high earners will likely pay off their debt aggressively, the federal benefits of income-driven repayment are less valuable than the immediate interest savings.
• The Public Interest Track: If you plan to work as a public defender, prosecutor, or for a non-profit, you should exercise extreme caution with private loans. SoFi loans are not eligible for Public Service Loan Forgiveness (PSLF). By refinancing or borrowing privately, you permanently forfeit the ability to have your federal debt forgiven tax-free after 10 years of service. For a detailed breakdown of this trade-off, read our guide to PSLF eligibility.

According to Jason Delisle, a higher education finance expert, “The private market can and does innovate — offering options federal loans don’t, such as variable rates or targeted underwriting.” SoFi exemplifies this by evaluating the “whole borrower.” While federal loans ignore your school’s ranking, SoFi’s underwriting model may consider your program’s historical employment data and bar passage rates. This allows students attending top-tier law schools with high placement rates to potentially secure lower interest rates, as they represent a lower credit risk to the lender.

With the program-specific nuances of MBA, medical, and law school loans covered, the next step is understanding the universal eligibility criteria that apply across all SoFi graduate products.

Eligibility and application process

While specific degree programs have unique loan features, the core eligibility requirements for SoFi graduate loans remain consistent across the board. Unlike federal loans, which are largely entitlement-based, SoFi evaluates applications based on financial health and creditworthiness. Understanding these criteria upfront can prevent unnecessary hard credit inquiries and application delays.

To qualify, applicants must be U.S. citizens, permanent residents, or visa holders with a valid eligible cosigner. The most critical factor is credit history. Successful applicants generally have a credit score of 650 or higher, though a score above 700 often secures the most competitive rates. SoFi also evaluates your debt-to-income (DTI) ratio to ensure you have sufficient cash flow to manage monthly payments alongside other obligations.

For many graduate students—especially those studying full-time without current income—meeting these strict underwriting standards alone is difficult. According to Betsy Mayotte, student loan expert, “Most students will need a cosigner to qualify for a private student loan.” Adding a creditworthy cosigner not only increases the likelihood of approval but can also significantly lower the interest rate offered.

A key advantage of SoFi’s program is its clear cosigner release policy. After making 24 consecutive, on-time principal and interest payments, borrowers can apply to have their cosigner released from the loan, provided the primary borrower meets the underwriting criteria independently at that time.

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The application process is entirely digital and designed to be faster than traditional bank lending. Follow these steps to secure funding:

1. Prequalification (2 minutes): Submit a brief form on SoFi’s website to check your eligibility and view potential interest rates. This step triggers a “soft credit pull,” which does not impact your credit score.
2. Formal Application: Once you select a rate and term, you will complete the full application. At this stage, SoFi performs a “hard credit pull,” which may temporarily lower your credit score by a few points.
3. Document Submission: Upload required verification documents. This typically includes a government-issued ID, proof of income (pay stubs or tax returns for you or your cosigner), and proof of graduation or enrollment (such as an acceptance letter or transcript).
4. School Certification: SoFi sends the loan details to your university’s financial aid office for certification. The school verifies your enrollment status and confirms that the loan amount does not exceed the cost of attendance.
5. Disbursement: Once certified, funds are sent directly to the school to cover tuition and fees. Any remaining balance is refunded to the student by the school for living expenses.

With the application requirements clear, it is helpful to step back and evaluate the broader strengths and weaknesses of choosing SoFi over other funding options.

Pros and cons of SoFi graduate loans

Making a final decision on your graduate financing requires weighing the tangible financial benefits against the structural risks. While SoFi offers some of the most competitive terms in the private market, it operates differently from the federal system. Below is a transparent breakdown of where SoFi excels and where it falls short compared to federal options.

• Zero Origination Fees: This is the most immediate financial benefit. By eliminating the 4.228% fee charged on Federal Grad PLUS loans, borrowers save thousands of dollars upfront on large balances.
• Competitive Interest Rates: Applicants with excellent credit or strong cosigners may qualify for fixed rates of 4.49% - 13.98% or variable rates of 4.99% - 13.13%, potentially significantly lower than the federal benchmark of 9.08% for the 2024-2025 academic year, reducing the total cost of borrowing over the life of the loan.
• Member Benefits: According to Mark Kantrowitz, financial aid expert, “Private lenders sometimes offer benefits like autopay discounts or career support.” SoFi stands out here with complimentary career coaching, financial planning services, and exclusive networking events designed to boost your professional trajectory.
• Cosigner Release: After 24 months of on-time principal and interest payments, borrowers can apply to release their cosigner from the loan obligation, a flexibility not applicable to federal loans (which rarely use cosigners).

• No Federal Protections: SoFi loans are ineligible for Public Service Loan Forgiveness (PSLF) and Income-Driven Repayment (IDR) plans. If you pursue a lower-paying public interest career, this trade-off can be costly.
• Strict Eligibility Standards: Unlike federal loans, approval is not guaranteed. You must have a strong credit history and sufficient income, or a creditworthy cosigner, to qualify for the advertised low rates.
• Variable Rate Risk: If you choose a variable rate loan, your interest rate and monthly payment can increase if market benchmarks rise, whereas federal rates are fixed by law for the life of the loan.

Ultimately, SoFi is strongest for students entering high-income fields who are confident in their repayment ability and want to minimize the cost of debt. If you are unsure about your future income or plan to work in the public sector, the federal route remains the safer bet.

Frequently asked questions

Below are answers to the most common questions students and families ask when comparing SoFi against federal options and other private lenders.

For borrowers with excellent credit, SoFi often provides lower interest rates than the Federal Grad PLUS fixed rate of 9.08% for the 2024-2025 academic year and saves you money by eliminating the 4.228% origination fee. However, Grad PLUS remains the better choice if you plan to pursue Public Service Loan Forgiveness (PSLF) or need access to income-driven repayment plans, which SoFi does not offer.

While SoFi does not publish a strict minimum, successful applicants typically have a FICO score of 650 or higher. To qualify for the lowest advertised rates, a score of 740+ is often necessary. Applicants with lower scores or limited income during school usually require a creditworthy cosigner to secure approval and competitive terms.

Yes. SoFi offers a residency and fellowship deferment period of up to 54 months. During this time, borrowers are required to make a $100 monthly payment to keep the loan in good standing. Note that interest continues to accrue during this deferment, which will increase the total amount owed once full repayment begins.

Yes, international students (including DACA recipients and asylum seekers) are eligible if they apply with a creditworthy cosigner who is a U.S. citizen or permanent resident. The primary borrower must also provide a valid visa or documentation of their status to complete the application.

SoFi’s digital application allows for prequalification in minutes and approval within days. However, the total time to disbursement depends on your university’s financial aid office, which must certify the loan amount. This certification process typically takes 1 to 3 weeks before funds are released to the school.

With these common questions answered, you can now weigh the final factors to decide if a SoFi loan aligns with your long-term financial goals.

Deciding between SoFi and federal Grad PLUS loans ultimately comes down to a single strategic choice: do you prioritize potential interest savings or maximum repayment flexibility? For graduate students with strong credit profiles or creditworthy cosigners, SoFi offers a compelling alternative to high-fee federal loans, particularly for those entering lucrative private-sector careers in law, medicine, or business.

However, this savings potential comes at the cost of federal protections. Before applying, ensure you have weighed the risks of forgoing income-driven repayment and forgiveness options.

• Maximize Federal Direct Loans First: Always borrow your full $20,500 Direct Unsubsidized limit before turning to private lenders, as these offer the best balance of safety and cost.
• Calculate the Break-Even: Compare SoFi’s zero-fee structure against the 4.228% Grad PLUS origination fee to see if the immediate savings outweigh federal benefits.
• Know Your Career Path: If you plan to work for a non-profit or hospital eligible for PSLF, stick with federal loans. If you are entering the corporate world, SoFi’s lower rates may save you thousands.
• Secure a Cosigner: To beat federal fixed rates, most students will need a cosigner with excellent credit to qualify for SoFi’s most competitive terms.

If you are confident in your career trajectory and ready to secure funding with zero origination fees, checking your rate is the next logical step.

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For those who need the safety net of income-driven repayment or anticipate a public service career, continue your research with our complete guide to federal graduate loans.

References and resources

To verify current rates, explore federal policies, or dig deeper into professional school costs, consult these authoritative resources:

• StudentAid.gov: The official Department of Education portal for Federal Direct Unsubsidized and Grad PLUS loan information, including current interest rates, origination fees, and income-driven repayment plans.
• SoFi Graduate Products: Direct access to current terms and rates for SoFi’s MBA, Medical, and Law school loan programs on their official website.
• Professional Associations: AAMC Financial Information for medical school cost data and ABA Legal Education Statistics for law school employment and bar passage data.
• College Finance Guides: Comprehensive resources on federal vs. private student loans and navigating Public Service Loan Forgiveness.